What a Krugerrand is made of
First struck in 1967, the Krugerrand was the coin that made owning a single ounce of gold simple. A 1oz Krugerrand contains a full ounce of gold, but it is not a 24 carat coin.
- Fine gold content: 1.000 troy oz (31.1035g)
- Total weight: 33.93g, heavier than an ounce because of the alloy
- Purity: 22 carat (916.7 fine); the extra copper makes the coin hard-wearing and gives it a warm reddish tone
- Fractional sizes: 1/2oz, 1/4oz and 1/10oz Krugerrands also exist
The 22 carat alloy does not reduce the value; the coin still contains a full ounce of fine gold. It simply weighs a little more in total.
What a Krugerrand is worth
There is a full ounce of fine gold in a 1oz Krugerrand, so its metal value moves with the gold price and very little else.
| Krugerrand size | Fine gold | Value at £3,600/oz (illustrative) |
|---|---|---|
| 1oz | 1.000 oz | £3,600 |
| 1/2oz | 0.500 oz | £1,800 |
| 1/4oz | 0.250 oz | £900 |
| 1/10oz | 0.100 oz | £360 |
Krugerrands and UK tax
This is the one area where the Krugerrand differs from a Sovereign or Britannia. The Krugerrand is South African and is not UK legal tender, so it is not exempt from Capital Gains Tax. If you sell Krugerrands for more than you paid and your total gains for the year exceed the annual CGT allowance, tax may be due on the gain. A Krugerrand is treated as a personal possession instead, which brings the £6,000 rule into play: why UK gold coins are CGT-free and bars are not sets out the distinction with the HMRC sources.
When a Krugerrand is worth more than its gold
- Proof Krugerrands from the South African Mint, as opposed to bullion strikes, carry a collectable premium.
- Early dates, particularly 1967 first-year coins, are of interest to collectors.
- Condition matters, though Krugerrands are deliberately hard-wearing, so most circulate close to their gold value.
How to sell a Krugerrand by post
- Send a photo on WhatsApp, both sides. We reply with a quick indicative figure and answer any questions.
- Request your free label, a prepaid, tracked Royal Mail Special Delivery label.
- Hand it in at the counter. Pad the coin well before you seal the envelope. Your parcel travels on Royal Mail Special Delivery, and Royal Mail cover may be available up to £2,500 depending on the postal method and cover level used. We confirm the right option for higher-value parcels before you post.
- Decide. The written offer follows the assay. Accept it and payment goes out by Faster Payments within one working hour. Turn it down and the coin is returned to you, tracked, at our cost.
Common questions
How much gold is in a Krugerrand?
A 1oz Krugerrand contains exactly one troy ounce (31.1035g) of fine gold. Its total weight is 33.93g because it is struck in a 22 carat alloy with added copper for durability.
What is a Krugerrand worth today?
One ounce of fine gold, so the metal value follows the gold price almost exactly: roughly £3,600 at the illustrative £3,600 an ounce used here. That is an indicative melt figure, not a quote, and the firm offer follows an XRF assay. Send a photo to GoldPaid on WhatsApp for a figure against the market on the day.
Do I pay Capital Gains Tax on a Krugerrand?
Possibly. Krugerrands are not UK legal tender, so they are not CGT-exempt. A gain above your annual allowance may be taxable. GoldPaid is not a tax adviser. Check your position with HMRC or an accountant.
Is a Krugerrand worth less because it is 22 carat?
No. A 1oz Krugerrand contains a full ounce of fine gold regardless of the alloy. The 22 carat coin simply weighs more in total than a 24 carat 1oz coin.
Request a free prepaid Royal Mail label
Tell us where to send it. The label arrives by email, usually within about 30 minutes during working hours. Requesting one commits you to nothing: you get a written offer after the XRF assay, and if you decline, your items come back to you free.
Would you rather ask a question first, or send a photo? Message us on WhatsApp . It is the fastest way to get a sense of what something is worth before you post anything.