Top Dealer For Small Orders
If you are confident in your research or have prior experience investing in gold Krugerrands, you may want to place a small order for multiple coins, and the best place for this size order is BGASC. This fast and reliable company offers a wide variety of Krugerrand coins to satisfy both casual and serious investors. You can jump into a new collection with 1/10-oz. Krugerrands or 1/4-oz. coins, or you can buy a full complement of the standard 1-oz. coins. Another reason why BGASC is perfect for small orders is that you receive a bulk discount for buying as few as three coins at a time.
BGASC ships all of its orders with full insurance underwritten by Lloyds of London, and the company has never received a complaint through the Better Business Bureau.
Sell Krugerrand Gold Coins
Krugerrand coins may be sold easily with any bullion company and bank. When selling Krugerrands to banks there may be a waiting time before you will receive the money back as banks send the coin to an outside assay office to verify its authenticity. Bullion companies are usually able to test Krugerrands in the shop or vault and then pay out the agreed price immediately. Capital gains tax of Krugerrand gold coins does not apply if the purchase was more than one year prior to sale in Germany.
About Krugerrand 1 Oz 09167 Gold Coin
Investing in gold South African Krugerrands has been a pillar of gold investors for decades. South African gold Krugerrands are perhaps the most recognizable coin in the entire world with 46 million troy ounces of Krugerrand coins being produced and sold since its inception in 1967.
The purpose of the original issue was to encourage individual ownership of gold, and it must be said that this objective has clearly been met by the Krugerrand.
The coins were intended to be used as currency in South Africa, and as such are made of a durable 22Karat alloy of gold and copper. This alloy, known to historians as crown gold due to its use in English gold sovereigns, gives the coins their distinctive rich color and grants them a durability that bullion coins of higher purity often lack. In fact, any gold investor buying gold for emergency purposes will buy the Krugerrand for their collection.
The Krugerrand takes its name from the last president of the former South African Republic Paul Kruger, the man whose portrait occupies the obverse of the coin. The reverse depicts an antelope, one of South Africas national symbols. The Krugerrand uniquely has no stated face value: instead, its legal tender value is the bullion value of its gold at the current market price.
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Oz South African Krugerrand Gold Coin
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If you are seeking a durable and well-known investment gold coin with unparalleled liquidity and which is available at a low premium over the prevailing spot price of gold, then the South African Krugerrand could be the investment you are looking for. Launched by the South African Mint in 1967, the Krugerrand rose to fame as the first coin to contain one ounce of gold. To this date, investors have bought some 48 million ounces of fine gold contained in over 60 million coins, establishing the Krugerrand as the most popular and actively traded gold coin in the 21st century. By taking possession of a Krugerrand gold coin, you gain an implicit guarantee of it being international accepted by bullion dealers, financial institutions and investors alike.
Ounce Krugerrand Gold Coin
South African Krugerrand 1 Ounce gold bullion coin.
Each of these gold coins contains one troy ounce of investment grade gold bullion.
The history of the Krugerrand can be traced to its first release in 1967 by the Rand Refinery in South Africa. The coin was released with the purpose of aiding and growing the South African gold market. The Krugerrands history had been somewhat turbulent. The coin saw its greatest popularity at the end of the 1970s, when up to 3,000,000 gold Krugerrands were minted and sold annually. However, the coin was later banned in the early 1980s. At this time, it was illegal to buy a South African Krugerrand in the United States, as South African goods were banned due to apartheid. The United States was the primary purchaser of retail gold coin in the 1980s. Krugerrand production and sales increased again after the end of apartheid, but never regained the levels of sales that they saw in the late 1970s.
Each Krugerrand gold coin features the image of Paul Kruger on the front facing side with a Springbok antelope decorating the reverse. The Krugerrand also features ridged indentations around the outer edge of both sides of the coin. The front of the coin features the word ‘South Africa’ wrapped around the image of Kruger and written in both Afrikaans and English. With such a low investment premium and such very fine, very high quality gold it is no wonder that the Krugerrand is one of the world’s most popular god bullion coins.
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Origin Of The Krugerrand Name
Gold Krugerrand coins are named as such because the obverse of the coin contains the portrait of Paul Kruger, the third and final President of the prior South African Republic as well as a resistance fighter against the British government. The reverse of the Gold Krugerrand coins contains a springbok antelope.
Design Of Gold Krugerrand Coins
1-oz gold 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 its 11 parts 22-karat gold alloy and 1 part copper added to make the coin more resistant to damage.
In 1980, three smaller sizes of gold bullion Krugerrand coins were issued, 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
Gold Krugerrand value is based upon its gold content plus a premium. Gold Krugerrand of different sizes fetch different premiums. Gold Krugerrand Value is also affected by factors such as condition and special preparation, such as proof coins.
Why Krugerrand Gold Coins?
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Certified South African Krugerrands
There are many coin grading agencies out there but only two that are revered worldwide. The Numismatic Guaranty Corporation and the Professional Coin Grading Service are two companies that issue coins their grades. These companies not only certify coins, but they also encase the graded coin into an official holder, preserving the coin and marking the holder with its earned grade. This alone has changed the coin collecting game, while also offering a peace of mind for collectors and investors.
When purchasing a Certified South African Krugerrand, there is information provided on the coin holder that is important to know. The first thing to notice is the coin’s strike type:
- MS: Short for “Mint-State ” refers to coins that have never been in circulation and are the same condition as when they were originally produced. Mint State coins will receive a grade ranging from 60-70 on the Sheldon Numeric Scale.
- PF/PR: Abbreviation for “Proof ” refers to the method of coin manufacture, made for eye appeal among collectors.
- SP: A “specimen” coin is a combination of strike type .
A Certified American Gold Eagle will most likely come in one of two grades:
- MS/PF70: Bullion coins that have kept their original mint luster and contain zero post production flaws.
- MS/PF69: Bullion coins that contain 2 or less minute imperfections but still carry their original mint luster.
Other certification terms often used for bullion coins:
Price Of Gold Kruggerands
The price of Kruggerand gold coins varies, depending on the gold content within the coins and the price of gold at the time.
A 1 oz Kruggerand weighs 1.09 troy ounces but contains exactly 1 oz of pure gold, and so the value of the coin is based on the melt value of 1 oz of gold. We automatically update our prices every minute, based on the current precious metal spot rate, so you can be confident that youre seeing the most up-to-date pricing.
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Where To Sell Krugerrands
Selling Krugerrands is a lot less risky and usually involves using one of the unverified market place platforms I mentioned above.
- Local Coin Shows Check this FB group to see upcoming shows near you.
If youre setting up a meeting with someone, make sure you do so in a busy and familiar place, like a restaurant to avoid getting robbed. Also, its a great idea to take someone you know with you, especially if youre a woman.
The History Of The South African Krugerrand
The Krugerrand is believed to be the most widely owned bullion coin in the world as it was the first bullion coin minted for investment purposes. In 1967 it was first introduced as a channel designed to encourage individuals to own gold. Each and every Krugerrand is minted using approximately 91 2/3 parts gold and 8 1/3 parts copper. Since South Africa is one of the worlds largest gold producers, therefore the South African Mint is rarely at a loss for the metal. In 1988 the official South African Mint became a full subsidiary of the South African Reserve Bank. Because the Krugerrand is primarily minted for trading outside South Africa, the coin does not carry a face value. The Krugerrands obverse features the first President of the South African Republic, Paul Kruger. The name of his nation surrounds Kruger in both Afrikaans and English: SUID-AFRIKA and SOUTH AFRICA. These languages represent two of South Africans eleven official languages.
The reverse of the Krugerrand features a South African antelope prancing with the coin name at the top, KRUGERRAND. The date of issue and the amount and purity of the gold is listed on the reverse, as well.
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First Mintage In 1967
The first Krugerrand gold coin with a fine weight of one ounce of gold was minted on the 3rd of July 1967. Before minting the first coins it was decided to use the more resistant to scratches 22 carat alloy as was used since 1817 by the British Sovereign coins. The British Coinage Act of 1816 defines the fineness of 22 carat alloys which is 916 /1000 in metric terms . The Krugerrand gold coins are issued by the South African Mint Company. In the first three years of mintage the annual output was between 30,000 to 50,000 coins which is in todays standard relatively low. In the time from 1974 to 1984 the annual mintage topped with 6 million ounces in 1978. The most Krugerrand coins were minted in this timeframe. A sharp setback in annual output occurred in 1986 due to the rascism politics Krugerrands were banned by the US and Europe. The mintage output started to rise again in 1999 after the ban was lifted. The Krugerrand ban did not affect trade and/or ownership. With import ban in 1986 the US introduced the American Gold Eagle. The Gold Eagle has also a 22 carat alloy but instead of gold and copper the US Mint uses 91.67% Gold, 3% Silver and 5.33% copper. After the import ban in 1999 the annual numbers did not reach 6 million ever again but demand for Krugerrands is very high to this very day. In the time from 2010 to 2012 the 1oz coin was produced around 700,000 times per year.
The South African Gold Krugerrand
No gold bullion coin in the world has a richer history than the South African Gold Krugerrand. While gold investment-grade coins are now, seemingly, a dime-a-dozen for buyers, there was a time when the Gold Krugerrand was the only choice when buying gold coins for private investment. Learn all about the rich history of the South African Gold Krugerrand with JM Bullion.
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Background Of The South African Gold Krugerrand
The South African Gold Krugerrand coin has a complex history. The coins debuted in 1967 as a means for the South African government to promote the vast gold, precious metal, and gem reserves of the nation. The Gold Krugerrand instantly became the first modern gold bullion coin available for private investment. The coins debuted as a 1 Troy oz specimen with 22-karat gold content.
Although the Gold Krugerrand proved immensely popular right out of the gate, its availability would suffer in the 1970s as a result of Western economic sanctions. At this point in its history, South African was ruled by a minority white government and the system of apartheid in place in the country kept the native black population from gaining control of lands, moving up in society, and adequately representing itself in government.
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How To Buy Gold Krugerrands
Buying Gold Krugerrands is an easy and simple process. You can buy them online for Delivery or Storage using the BUY button or you can call our office to place your order over the phone.
We sell Gold Krugerrands and all major bullion bar and coin products and you can pay by bank wire, by credit card or by debit card.
We make a market in Krugerrands and offer fully insured delivery to our American clients throughout the United States from our depository partner vaults in Delaware.
Insured delivery of Gold Krugerrands, including monster boxes, to homes or offices is also popular and many clients do both – take delivery of some Gold Krugerrands and own the rest in Secure Storage.Many of our U.S. clients opt to store their Krugerrands in fully insured, offshore Secure Storage jurisdictions. We specialize in offering U.S. clients access to allocated and segregated bullion storage in secure nonbank vault partners in safer jurisdictions in the world such as Zurich, Hong Kong, London, and Singapore.
Krugerrand: Pure Investment And Value At Its Highest
The legal tender 22 carat gold Krugerrand was the brainchild of the South African Chamber of Mines and first became available to the public in 1967. The coin was minted in an effort to help promote South African gold internationally and allow gold bullion to be accessible to everyone. The Krugerrand was the first gold coin to contain exactly one troy ounce of gold. It would become legal tender and sold at a relatively low premium over the current gold price.
Intense marketing took place in America and Europe, and soon the Krugerrand dominated the worlds coin market. In the 1980s, the Krugerrand accounted for 89% of the global gold coin market, and the fractional Krugerrands were added to the 1 oz version, making it affordable to more people.
For many years the Krugerrand stood alone as the only gold bullion coin available to the international market, but during the years when sanctions against the South African government were applied in the mid-1980s, other mints took the opportunity to issue their own legal tender bullion coins.
It remains so today, with over 46,000,000 pieces in circulation. The South African Krugerrand is internationally the most popular investment gold bullion coin.
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Do Krugerrands Have A Face Value
The silver bullion Krugerrand has a face value of R1. That said, all other Bullion and Proof Krugerrands dont have a face value. The cost of the coins comes from the gold, silver, or platinum content in the coin. Since precious metals are so volatile, the value of the coins can increase and decrease dramatically over a few months.
However, generally speaking, precious metals historically always increase in value because of inflation and other factors that increase the perceived value of these metals.
What Is The Price Of A Gold Krugerrand
The price of a Gold Krugerrand is shown in the upper right section of this page. The price of a 1 oz gold Krugerrand is calculated using three components:
Gold spot price. This is the price of an ounce of pure gold available for immediate delivery or delivery on the spot. It is typically determined by the best bid and offer for gold as offered by large bullion banks trading in real time throughout the world and quoted by data providers such as Thomson Reuters and Bloomberg.
Weight and purity of gold. Gold Krugerrands have a purity of 0.9167 , however, the coins total weight is 1.0909 ozs so that there is exactly 1 troy ounce of pure gold in each coin.
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