Krugerrand value: what is it worth?

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, issued since 1980

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 weight and fine-gold content

Photograph both sides and any packaging before posting. Rare dates, proof finishes and scarce mint marks can justify a specialist assessment. GoldPaid does not publish a price list or calculator. Send photos for a rough estimate where possible; your written offer follows inspection of your own items.

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. Because it is South African currency, HMRC does not treat it as a chattel, so the £6,000 personal-possessions exemption does not apply (CG76881). Why UK gold coins are CGT-free and bars are not sets out the distinction with the HMRC sources.

How to check a Krugerrand is genuine

The obverse shows Paul Kruger, president of the old Transvaal Republic; the reverse shows a springbok designed by Coert Steynberg, with KRUGERRAND and FYNGOUD 1 OZ FINE GOLD around it. There is no face value: the coin is legal tender in South Africa but trades on its gold content.

• Weight. Check it against the total weights in the table above. Counterfeits with a lead or brass core usually come in light; a tungsten-core fake can match the weight closely, which is why dimensions and XRF are checked as well. A coin more than a gram off needs checking.
• Magnet. A magnet should not stick to a genuine coin.
• Ring and lettering. Balanced on a fingertip and tapped with another coin, a genuine Krugerrand rings brightly, and the rim lettering is crisp.

XRF confirms the surface alloy, but a plated tungsten core reads as gold at the surface, so weight, dimensions and tone are checked as well before any offer is final.

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

1. Send a photo on WhatsApp, both sides. We reply with a rough estimate and answer any questions.
2. Request your free label, a prepaid, tracked Royal Mail Special Delivery label.
3. Hand it in at the counter. Pad the coin well before you seal the envelope. Your parcel travels on Royal Mail Special Delivery Guaranteed, tracked and signed for. Royal Mail cover may be available up to £2,500 depending on the postal method and cover level used. GoldPaid can confirm the appropriate postal option before you post. If the lot may be worth more than £2,500, tell us first and we can split it across more than one prepaid label at no charge.
4. Decide. The written offer follows the assay. Accept it and we aim to pay by Faster Payments within one working hour of acceptance. Turn it down and the coin is returned to you, tracked, at our cost.

Common questions