Gold Krugerrands are a widely traded coin that are highly popular among investors. This is due to how they retain their value, and also how easy they are to sell on thanks to the many types of Krugerrand. Krugerrands are minted as bullion coins with the intention of being traded and there are various sizes in circulation. The worth and price of a Gold Krugerrand is dependent on various factors like size, weight, age and the current spot price of gold.
Cash4Gold-Now have outlined the key factors that can affect the worth of a Krugerrand coin to help you understand how much yours can be worth and ensure you’re educated on potential prices, should you come to buy or sell these types of coins.
Short History of Gold Krugerrands
Gold Krugerrands get their name from the 3rd President of The South African Republic, Paul Kruger, whose image is on one side of the coin. The South African currency was called ‘the rand’ hence where Krugerrand got its name. On the other side of these coins, there is a Springbok, the national animal of South Africa.
The Krugerrand kicked off and led the way in the minting of various famous national gold coins like the Canadian Gold Maple Leaf, Australian Gold Nugget, American Gold Eagle and British Britannia.
How Much is a Krugerrand Worth?
Size and Weight
Standardised bullion Krugerrands are relatively easy to trade, whether you are buying or selling, due to the standard weights and gold contents of the different sizes of coins.
The gold contents of a Krugerrand is marked on the coin so it’s easy to identify, and Krugerrands are minted in the following sizes and weights:
- 1 oz (the original Krugerrand, first minted in 1967)
- ½ oz
- ¼ oz
- 1/10 oz
Age, Condition and Rarity
It’s important to note that older coins, for example, those minted many decades ago or those minted in a commemorative year with specific designs, usually have additional value added on due to their nature, regardless of the spot price of gold when you’re selling.
Similarly, uncirculated coins have a higher value than Krugerrands that have been in circulation due to the higher condition they’ll be in. Each year, special coins known as ‘proof coins’, which are rare versions of the Krugerrand, are produced in small numbers for the purpose of collectors. As is to be expected, this will affect the price you buy or sell for. You can identify a proof coin by any special features, for example, they may have a different finish or more ridges on the coin’s edge.
Generally, if you have Krugerrands in your possession or are looking to buy a Krugerrand that isn’t simply a bullion coin and instead one that has historical value, you should expect these to have a higher intrinsic value on top of their gold contents. You should always learn about a coin’s history and have it valued by professional gold dealers before agreeing to sell or buy to ensure the deemed worth is accurate.
Spot Price of Gold
For the majority of gold Krugerrands traded among investors and in circulation, their value is down to their gold contents, which is determined by their weight. For example, a 1oz Krugerrand contains 1oz of pure gold. Because of this, when you’re buying or selling one of these coins, the value that day will be determined by the current spot price of gold; a constantly fluctuating value that is important to consider if you’re an investor or gold dealer.
Generally, Krugerrands retain their worth well over the years, but the price of gold can fluctuate slightly each day which will have an impact on the value of your coin on any given day.
Interested in Selling Gold Krugerrands?
Cash4Gold-Now have been helping customers across the UK to sell gold coins including Krugerrands, Sovereigns, Britannias, Canadian Maple Leaf coins, and more for decades. We have a strict valuation process that ensures you are offered the highest possible prices for your coins or other gold items.
You can order a free selling pack via our website and post your gold to us for a no-obligation quote, or get in touch with the team for more information.