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South African Gold Krugerrand Prices

krugerrand-reverseThe South African Gold Krugerrand was among the first gold coins made available to investors in the 1970s. Today, it is still among the most popular foreign gold bullion coins available in the market. The coins are minted using 22k gold and are available in sizes of 1/10oz, 1/4oz, 1/2oz and 1oz. Below you can compare prices for 1 oz South African Gold Krugerrand Coins based on dealer.
*Prices shown are for the Varied Year 1 oz Gold Krugerrand.

Compare Gold Krugerrand Prices

BBB Rating: A+
  • Low As $1,366.84/coin ($29.99 over spot)
  • $7.77 Shipping On All Orders
  • Weights: 1 0z
  • Low Price Guarantee
  • No Order Minimum
BBB Rating: A+
  • Low As $1,360.80 per coin ($24.95 over spot)
  • $4.95 Flat Rate Shipping
  • Weights: 1 oz
  • No Order Minimum
  • Low As $37.50 Over Spot
  • Free Shipping Over $250
  • Weights: 1/10 oz, 1/4 oz, 1/2 oz, 1 oz
  • No Order Minimum
BBB Rating: A+
  • Low As $37.50 Over Spot
  • Free Shipping On All Orders
  • Weights: 1/10 oz, 1/4 oz, 1/2 oz, 1 oz
  • $100 Order Minimum

 

South African Krugerrand Coin Overview

The South African Gold Krugerrand was among the first bullion investment coins made available to individuals around the world. First minted in 1967, the Krugerrand paved the way for other popular bullion coins like the Gold Maple Leaf, Eagle, Panda and many others. The Krugerrand was the go to choice for many gold investors from its introduction up until the 1970s when Apartheid saw many sanctions on the nation of South Africa.

In the 1970s many nation’s implemented sanctions on South Africa for its practices during apartheid. Consequently, the popular Krugerrand coin was very hard to come by during this time. Other country’s, like Canada for example, saw an opportunity for a gold bullion coin to satisfy the demand that existed but was not being met. In 1979, Canada released the Gold Maple Leaf to compete with the Krugerrand, and it saw quick success. Seven years later, the US Mint released the Gold Eagle and many other countries followed in their footsteps.

Once Apartheid ended, South Africa’s Krugerrand rose back to popularity on the worldwide stage but now had to compete with several other bullion coins, most of which were purer and cheaper. With that said however, the Krugerrand still remains as one of the most popular gold coins in the market to this day and they are now produced by the South African Mint in a variety of weights each year.

Gold Krugerrand Purity and Design

The Gold Krugerrand is minted using .9167 pure gold or 22k; similar to other coins like the Gold Eagle. Each year the coins are minted in weights of 1oz, 1/2oz, 1/4oz and 1/10oz, while the most popular size is by far the 1 troy ounce. Unlike other bullion coins which have a face value denomination in the country they were minted, the Krugerrand derives its legal tender value from the current gold price making it truly unique.

The title of the Krugerrand derives its meaning from the name of a famous South African political figure; Paul Kruger and the name of the nation’s currency; the rand. Images are featured on the coin to commemorate Paul Kruger as well as the Sprinbok; a species of antelope native to South Africa.

The coins also showcase the year in which they were minted, which is shown on their obverse. Because the coins are minted using South African gold and are mixed with other elements like copper, they have a unique shade of gold which is unlike many other coins. The finish has a somewhat brownish gold appearance. Read on to learn more about the popular design.

Obverse Design

On the obverse of each coin is a left profile portrait of Paul Kruger. Kruger was a prominent military and political figure in South Africa’s fight against the British in the second Boer war and he also served as the president of the South African Republic from 1883 to 1900. In the coin’s design, Kruger is shown left facing and is encircled by the words “Suid-Afrika” and “South Africa.” The design is encircled by raised edges and a border of several raised circles.

krugerrand-obverse

Reverse Design

The reverse side of the Gold Krugerrand features the image of a sprinbok antelope galloping across the plains of South Africa. Above the iconic animal is the name of the coin which is shown as “KRUGERRAND.” To the left of the image are the first two numerals of the minting year while the right shows the second two numbers. Below the image in smaller letters is the weight of the coin in South African which reads: “Fyngould 1 oz Fine Gold.”

krugerrand-reverse

South African Gold Krugerrand Pricing

While the Krugerrand has massive notoriety and popularity with collectors and investors throughout all parts of the world, they can actually be purchased at pretty low markups above the current gold price. Compared to other coins like the American Gold Eagle, Krugerrands can be bought for very similar prices; often in the range of $30-$50 above spot price.

While the minting year and condition will likely play a large role in the pricing of a specific coin, when looking at a bullion coin in new condition you can expect to pay fairly low prices relative to spot. More collectible coins however, like those from years with low mintage numbers or certified versions, will usually be priced much higher due to collector demand. If you are buying purely for the gold content however, you will find that they are a very cost effective option when buying physical gold.

Buying Gold Krugerrand Coins Online

Because the Krugerrand is still being minted by South African today, and was produced for decades in large numbers, they are readily available to investors both online and at local coin shops. You can find these coins for sale on pretty much any gold dealer website at reasonable prices. Many dealers also started offering free shipping and handling for an even better value. Some of the most popular dealers currently offering these coins are listed above and include companies like APMEX, BGASC, Golden Eagle Coins and SD Bullion.
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