There are lots of various gold bullion coins issued around the world. But gold Krugerrand was first bullion coin issued for private investors almost 50 years ago. The Gold Krugerrand coin is a South African gold coin, first minted in 1967 to help market South African gold. It is produced by the South African Mint Company. There have been an estimated over 54 million Krugerrand gold coins sold worldwide since 1967.
Unlike other gold bullion coins like American Gold Eagles, Mexican Gold Libertad or Canadian Gold Maple Leaf coins, the Gold Krugerrand coin has no actual face value apart from its precious metal content.
The Coins Specifications
For sellers and buyers knowing as much as possible about a desired merchandise is always best. We gathered the most important Krugerrand coins specification for you.
- Minted since 1967
- Made of 22 karat gold equaling 91.67% pure gold
- Over 50 million Krugerrand coins were sold
- Available as 1 ounce, 1/2 ounce, 1/4 ounce and 1/10 ounce
- Celebrating 50 years of mintage in 2017
- special color thanks to 8.33% copper
Design of Gold Krugerrand Gold Coins
Krugerrand has serrated edges. On the front of the coin is a profile of Paul Kruger, an early president of the Republic of South Africa. The Afrikaans words Suid Afrika appear, along with the English South Africa. The back of a gold bullion Krugerrand coin features a male springbok. This medium-sized brown and white gazelle has long been regarded as a national symbol of South Africa. There is also a date stamped in two sections on either side of the springbok image.
1-oz Krugerrand is 1.3 inches in diameter and 0.11 inches thick. Gold Krugerrand coin has a gold fineness equal 0.9167. The coin is actually 1.09 troy oz. because it’s 11 parts 22-karat gold alloy and 1 part copper added to make the coin more resistant to damage. Because of high success of 1-oz Krugerrand coin three smaller sizes of gold bullion Krugerrand coins were issued in 1980, with weights 1/2 oz, 1/4 oz and 1/10 oz.
1-oz gold Krugerrand coins remains today one of the most popular means of private ownership of gold along with American Eagle coins and Silver Maple Leaf coins.
1 Troy Ounce Krugerrand Price
Gold 1-oz Krugerrand price will move in line with the current gold spot prices, since the most of their value comes solely from the gold content of each Krugerrand gold coin. The larger Krugerrands you buy the lower premium over spot price of gold you pay. 1/10 Krugerrand has the highest premium over spot while 1-oz Krugerrand has the lowest premium.
Investing in South African gold Krugerrand coins
It is a good idea to include a few gold Krugerrand coins to your collection or investment portfolio of precious metal products. While Krugerrands carry higher premium over gold spot price than gold or silver bars, especially larger 10-oz or 100-oz gold bars, Krugerrand gold coins are very attractive and very liquid when you want to sell them. I recommend you buy Krugerrand gold coins as well as other gold bullion coins like Silver and Gold Eagles, Canadian Gold Maple Leaf Coins and other Canadian Silver Coins or Gold or Silver Mexican Coins. And buy only 1-oz Krugerrands. Do not buy the fractional Krugerrand gold coins because they have the very high premium over gold spot price. We also recommend to read our article about how to buy Krugerrand gold coins.
Gold Krugerrands For Sale
First of all you can try to find Krugerrands for sale from your local gold dealers or con shops. Try to find the sellers who can offer you Krugerrand coins with the lowest premium over spot price of gold.
But the best way of buying gold Krugerrands is buying them online. First of all try Ebay and Amazon. You can find a lot of sellers there who sell Krugerrand gold coins at reasonable prices. But remember that you should always verify seller’s feedback and buy gold Krugerrands from reputable sellers only. And always check all the shipping and handling fees from different sellers. Buy only from sellers where the price of Gold Krugerrand coin including all the premium, shipping and handling fees is the lowest. I is a good idea to check the other dealers’ websites and sites of APMEX and COMEX too. There are also a lot of sellers on Amazon who sell gold Krugerrands.