One Ounce Gold Mixed-Date South African Krugerrand Bullion Coins (Best Value)
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Our cheapest pre-owned Krugerrands available at low premiums over the live gold price.
Obverse
Portrait of Afrikaner statesman Paul (Paulus) Kruger, fifth President of the South African Republic (ZAR, Zuid Afrikaansche Republiek). Designed by the German engraver, Otto Schultz. This engraving first appeared on ZAR coinage in 1892. Legend: 'SUID-AFRIKA · SOUTH AFRICA'.
Reverse
A pronking springbok, the national animal of South Africa, graces the reverse. This design first appeared in 1947 on the South African Crown coin and was designed by sculptor Coert Steynberg. Legend: 'KRUGERRAND FYNGOUD 1OZ FINE GOLD', with the date either side of the springbok.
Specification
33.93 grams of 22 carat (0.917 fine) gold. Diameter: 32.77 millimetres. Actual gold weight: one troy ounce (31.10 grams).
Presentation
Issued loose in bullion condition. These 1oz Krugerrands may show some minor blemishes such as edge knocks or scratches owing to mass production methods. This is perfectly normal for bullion coins and will not affect the precious metal value of them. Images provided of this product are stock photos and the coins you receive will be from the same issue, having the exact same specifications.
Buy Gold Krugerrands
Krugerrands are the official gold bullion coins of South Africa and are produced by the South African Mint in conjunction with the Rand Refinery. They are very popular with bullion collectors, being traded at price levels very closely associated with the live gold price. The more recent coins are noted for their strong rose gold hue, which is caused by the exclusive use of copper in the alloy. Earlier editions may appear more yellow due to silver being present. Each Krugerrand is manufactured using crown gold, which is 91.67% fine gold (22 carat). It's certainly not the most attractive coin ever produced, however this alloy gives the coins unparalleled durability compared to 'pure' gold bullion coins (0.999+ fine), making them ideal for investment.
In modern coin history, the gold one ounce Krugerrand is the most famous of all 1oz gold bullion coins. It was launched by South Africa in 1967 and by 1980 the gold Krugerrand accounted for over 90% of the global gold coin market. US sanctions against the apartheid regime in the mid to late 1980s did dampen the trade in Krugerrands, but restrictions were lifted on them in 1991.
Although intended as an investment article, there is a collector's market for dated Krugerrands. Dates between 1970 and 1991 tend to be relatively straightforward to find, with dates outside that range being more difficult to source. Mintage figures in 1967 was just 40,000 coins but by 1978 had reached more than six million coins. Figures have most likely been lower in recent years as many other countries are now competing in the one-ounce gold coin market, although rather frustratingly there are no reliable figures.
Top Reasons to Buy Gold Krugerrands
Gold Krugerrands can be a great investment! Purchasing gold Krugers is a popular way to acquire the precious metal and there's a very liquid market in them worldwide. We've outlined some reasons why you should consider buying them:
- Popularity - The 1oz Krugerrand is world famous and bought and sold everywhere.
- Cost - The 1oz gold Krugerrand is priced very closely to the gold spot price.
- Entry Level - Affordable entry into gold bullion investment for many people.
- Authenticity - The 1oz gold Krugerrand is an official legal tender coin of South Africa.
- Physical asset - A 1oz gold Krugerrand coin is a physical, tangible asset. You can touch it, hold it, keep it wherever you like.
- Liquid asset - If you do need the money, you can sell 1oz gold Krugerrand coins almost instantly, virtually anywhere in the world, often on the high street or by post. There is a strong buyer market for gold coins.
1oz Gold Krugerrand Face Value
The Republic of South Africa is the southernmost country in Africa. The currency is the South African Rand. In 1961, South Africa replaced the £sd system with the decimalised Rand, with 100 cents making up one Rand (R1). In introducing the gold Krugerrand, the intention from the South African government was that these coins would be used as ordinary circulating coinage, hence the use of the 0.917 fine gold to manufacture them.
This didn't necessarily happen, but a law passed in 1989 gave the coins legal tender status in South Africa. Unusually for a legal currency coin, the face value of the Krugerrand was the melt value of the gold composed in it. So the spot price of gold per troy ounce was 35,000 Rand, then the face value of a 1oz gold Krugerrand would be R35,000. This is in contrast to nearly all other bullion coins produced by mints across the world, which have a nominal face value far lower than their precious metal melt value.
Physical Description of the 1oz Gold Krugerrand
The design of the 1oz gold Krugerrand has been consistent since its introduction in 1967. The name is derived from a combination of Kruger and rand, the South African unit of currency. Paul Kruger (1825-1904) was President of the Boer Transvaal Republic from 1883 to 1900 and his effigy is depicted on the obverse of this bullion coin. The eponymous Kruger was one of the most important people in the history of 19th-century South Africa, and you can also find his effigy on Transvaal Republic coinage from 1892-1902.
The obverse (front, heads) shows an image of Paul Kruger with the Afrikaans and English words 'SUID-AFRICA SOUTH AFRICA'. The reverse shows the famous springbok, a medium sized antelope indigenous to South Africa and is a common symbol of the country. The South African rugby team is nicknamed the 'Springboks'. The inscription confirms the gold weight 'FYNGOUD 1OZ FINE GOLD', together with the date and the words 'KRUGERRAND'.
Gold Proof Krugerrands
The 1oz gold Krugerrand is also available in a proof version. This is a highly polished and carefully finished version of the coin, which is intended for coin collectors rather than bullion investors. The proof versions have a much lower mintage compared to the bullion editions. Owing to the higher finish quality, the proof version does cost more than the bullion version, but the market for these coins is strong, particularly for rare dates in good condition.
If you can't tell the difference between a proof coin and a bullion coin just by looking, then count the number of serrations on the edge of the coin: proof Krugerrands have 220 edge serrations and bullion coins have 160.
Krugerrand Coin Range
As the popularity of the Krugerrand and other gold coins increased together with the price of gold, in 1980 the South African Mint introduced half-ounce, quarter-ounce and one-tenth ounce gold Krugerrands so as to allow smaller investors to enjoy the benefits of coin too. Since then, the family has been extended further. Each coin follows the same designs as the full one-ounce Krugerrand.
Additionally, gold Krugerrand sets are available which have either a combination of different-sized coins or a mixture of dates. In 2017, the 50th anniversary of the launch of the 1oz gold Krugerrand, the South African Mint shocked the coin world by issuing a silver Krugerrand. The anniversary celebrations also included placing a special mint mark on the gold Krugerrands.
Sell Gold Krugerrands
We offer to buy gold Krugerrands at some of the best rates in the country. If you'd like to sell your 1 ounce Krugerrands then head over to our Sell Your Coins page and find out how to get a quote.
Frequently Asked Questions
No, only gold coins that are British legal tender pound sterling coins qualify for this exemption in the UK. You should consider UK gold coins such as Sovereigns or Britannias if CGT is important for you. However, the gold Krugerrands are VAT-free. You should consult an accountant or legal/tax advisor for the current legislation regarding gold investments if this is of concern.
‘Pure’ gold is actually quite soft and can easily scratch and dent. It would wear very quickly, so the SA Mint adds different metals to the alloy to strengthen it. The ratio used is 22 parts gold and 2 parts other metals, usually copper and silver. This alloy is known as ‘crown gold’ and is considerably harder and more durable than 99.99% fine gold.
The main difference between the two types is in the finish, and this affects the visual appearance of the coin. Proof coins tend to have a highly polished mirror finish, unlike bullion coins which have a lower quality finish. Which type you buy depends on what your intentions are.
Yes, and we guarantee it. With high-value coins and investments such as gold Krugerrands, collectors and bullion investors often worry about counterfeits, but actually gold coins are very difficult to forge due to gold's unique chemical properties. Gold is extremely dense and to use another metal and plate it with gold would almost certainly result in a coin that is under-weight, over-diameter or half as thick, something that would be spotted very easily by an expert. For added peace of mind, we test all of our coins on site using an XRF machine to help authenticate genuine coins.
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