South African Gold Krugerrand Coin Information
- Full Index of Products
- Introducing the South African Gold Krugerrand
- Gold Krugerrands - The 1 oz Gold Coin
- The Krugerrand - Launched in 1967
- The Krugerrand Family
- British Investors Missed Out
- Not a Pretty Sight
- Tax Free Gold
- Continuous Service from Chard
- Krugerrand Technical Specifications
- Buy the Cheapest Krugerrands in the UK
- Sell Krugerrands
- The Silver Krugerrand
Full Index of Products
You can find all of our gold Krugerrands by clicking here and browsing the online catalogue.
Introducing the South African Gold Krugerrand
The South African Chamber of Mines had an inspired idea to help market South African gold. It was to issue a one ounce bullion coin, the gold Krugerrand, to be sold at a very low premium over the intrinsic gold value.
Gold Krugerrands - The 1 oz Gold Coin
The Krugerrand was the first modern gold bullion coin which was issued in the standard weight of one troy ounce. This was ideal for smaller investors looking to purchase gold bullion in the accessible form of coins with a standard weight which would be easy to buy and sell all over the world. The Krugerrand became one of the most easily recognised investment gold coins.
The Krugerrand - Launched in 1967
Krugerrands were first minted and issued in 1967, and have been produced every year since by the Rand Refinery. Krugerrand gold coins have legal tender status in South Africa, which allowed them to be imported into many, but not all, countries without import taxes, duty or VAT.
The Rand Refinery is the only accredited LBMA refiner in Africa, their bullion Krugerrands are one of the most traded gold coins on leading commodity exchanges all over the world.
The Krugerrand Family
Originally only one size was issued, the one ounce Krugerrand. Struck in 22 carat gold (0.917 gold fineness), the Krugerrand weighs 33.9305g and contains one full troy ounce (31.1035 grams) of fine gold.
This gold bullion coin was originally known as a Krugerrand, or Kruger, for short.
From 1980, three more sizes were introduced, these were the half, quarter, and tenth ounce sizes.
Because of these fractional weights, the original 1oz Krugerrand is sometimes referred to as a "full" or "one ounce" Kruger or Krugerrand, although within the trade, the word Kruger or Krugerrand is understood to be the full sized original one ounce version.
British Investors Missed Out
At the time of the Kruger's introduction, it was not legally possible for British residents to acquire bullion gold coins, so that the Krugerrand was almost unknown in Britain until 1971.
Not a Pretty Sight
Krugers were never intended to be an aesthetically pleasing coin, just a lump of gold with a known weight and value. They certainly cannot be called pretty in our opinion.
Collectors seeking aesthetically attractive coins would be better looking at British gold sovereigns, or other bullion coins such as Britannias, Eagles, Maples, Lunar or Panda Coins.
Tax Free Gold
In 1973, Britain imposed VAT on all coins, except antiques. In January 1995, this was relaxed on almost all second-hand goods, including gold coins. This meant that existing privately owned coins can be traded by dealers under a "special scheme" whereby the only VAT chargeable is on the dealer's margin, which is negligible. Because VAT was still payable on any "new" coins, it remained more difficult and expensive to buy and sell large quantities of bullion coins.
However, on the 1st January 2000, the British government removed all VAT from investment gold. The traditional safe haven of tax free gold continues to attract investors looking to protect their wealth.
Continuous Service from Chard
Throughout the whole of this time, Chard have maintained a dealing service for both collectors and investors in bullion and numismatic coins. During the period from 1965 to 1971, we were one of only a small number of dealers who were granted a dealer's licence. Chard have become one of the oldest bullion dealers in the UK and probably have the widest range of both historic and modern, bullion and collectable, coins and coin sets in Great Britain. Voted the UK Bullion Dealer of the Year for four years running, 2015 to 2018, Chard have built up an enviable reputation for high quality products at low prices.
Krugerrand Technical Specifications
The following tables summarise the specifications of all the sizes.
|Size||Face Value / Rands||Weight / grams||Fineness / 1.000||Gold Conten / grams||Gold Content / tory ounces|
|Size||Remedy (Grams)||Min Diameter (mm)||Max Diameter (mm)||Min Thick (mm)||Max Thick (mm)||Edge|
|1 oz||+ 0.07||32.61||32.77||2.74||2.84||160*|
|1/2 oz||+ 0.035||26.93||27.07||2.115||2.215||185*|
|1/4 oz||+ 0.02||21.94||22.06||1.788||1.888||150*|
|1/10 oz||+ 0.01||16.45||16.55||1.25||1.35||115|
Buy the Cheapest Krugerrands in the UK
The Krugerrand is not exempt from Capital Gains Tax which may be a drawback for some investors in the UK. However, cheap Krugerrand coins are often one of the most popular ways to buy gold bullion coins. Below is a price comparison table for 1 ounce gold bullion coins including newly minted and secondary market Krugers.
Gold Bullion Coins - Price Comparison
|1 oz Gold Coin Bullion Best Value Secondary Market||2.5%||From £940.89||Available|
|1 oz Gold Coin Bullion Best Value Newly Minted||3.5%||From £950.16||Out of Stock|
|1 oz Gold Coin Krugerrand Bullion Best Value Secondary Market||2.7%||From £941.82||Available|
|1 oz Gold Coin Krugerrand Bullion Best Value Newly Minted||4.45%||From £966.85||Out of Stock|
|1 oz Gold Coin Britannia Bullion Best Value Secondary Market||2.5%||From £944.60||Out of Stock|
|1 oz Gold Coin Britannia Bullion Best Value Newly Minted||3.5%||From £955.26||Out of Stock|
|Bullion Sovereign Best Value - Newly Minted||4.75%||From £225.70||Available|
|Bullion Sovereign Best Value - Secondary Market||3.5%||From £223.30||Sourced to Order|
Buy our lowest premium Krugerrand here. If you are looking for cheap Krugerrands in fractional sizes (half ounce, quarter ounce and tenth ounce) click here. Below is a table of quatity breaks available on the secondary market Krugerrand. You can always order the secondary market Krugerrand as we will source your coins from the secondary market if we do not already have stock. We often carry enough stock to satisfy most orders:
|Quantity||Premium %||Price Per Item||Total|
We are always looking to buy Krugerrands from you. We pay highly competitive prices and offer payment by bank transfer, cash or cheque. Our current live buy back price is £922 .Either pop into the showroom with your coins or send them to us. Visit our Sell To Chard page for the live buying price and instructions on how to sell your Krugerrands.
The Silver Krugerrand
In 2017, rumours abounded that the Rand refinery were launching a silver Krugerrand; a bullion coin which would compete with the popular Eagles, Maples, Britannias and Kangaroos.
This did not come to fruition. Instead, the South African Mint who issue the proof Krugerrand coins and coins sets released a silver Krugerrand to mark the 50th anniversary of the introduction of the Krugerrand. This collectable coin is struck to a 'Premium Uncirculated' or 'PU' finish to a limited mintage of 1 million coins.
Investors around the world were excited about the possible release of a new bullion silver coin and are waiting to hear whether the Rand Refinery and South African Mint will actually introduce the silver bullion Krugerrand.