1968 Single Sided Frosted Proof Krugerrand.

How much is a 1968 Proof Krugerrand worth?

The 1968 single sided frosted Proof Krugerrand was minted by mistake but due to the higher percentage mintage of the single frosted Krugerrand to the double frosted Krugerrand the double frosted Proof Krugerrand is the more rare and the most sought after coin in the Proof Krugerrand series.
It was decided to mint the 1968 Proof Krugerrand with both sides being frosted. By mistake 9000 to 9500 Proof Krugerrand were minted with a plain bust. So only 500 to 1000 correct versions were minted. Some of the double sided Proof Krugerrand were not of a high enough quality to be accepted as a Proof and were rejected as proofs, so very few double sided Proof Krugerrand existed. Only around 100 have been recorded as being certified as Proofs by NGC.
Another strange phenomena was that the 1968 and 1969 Proof Krugerrand were still being offered to the public by the mint in 1972. However by 1976 the 1968 double frosted Proof Krugerrand was selling for R3500 whilst bullion Krugerrand were selling for R141.00.
The interest in Proofs came about by the Mint restricting the sales of Proofs. In 1973 the demand was so high for Proof Krugerrand that subscribers could only buy 5 Proof Krugerrand. By 1975 the allocation was only 1 per subscriber.