South African Krugerrand Value
The world's first modern gold bullion coin. One troy ounce of gold in every Krugerrand since 1967.
The Krugerrand was the world's first modern gold bullion coin, introduced by South Africa in 1967. It contains exactly one troy ounce of gold (1.0003 oz to be precise) alloyed with copper for durability. It's the most widely held gold bullion coin in the United States, and millions sit in safes, bank vaults, and desk drawers across the country.
Gold Content and Melt Value
The total coin weight is 33.93 grams, but the actual gold weight is 1.0003 troy ounces (31.107 grams). The extra 2.83 grams is copper alloy. This copper gives the Krugerrand its distinctive orange-gold tone compared to the yellow color of 24-karat coins.
How to Identify a Krugerrand
Obverse: Portrait of Paul Kruger, former president of the South African Republic. "SUID-AFRIKA" and "SOUTH AFRICA" appear on either side.
Reverse: A springbok antelope, South Africa's national animal, mid-stride. The year and "KRUGERRAND" are inscribed below. "FYNGOUD 1 OZ FINE GOLD" confirms the gold content.
Edge: Reeded (grooved) edge with 180 serrations.
Size: 32.77mm diameter, 2.84mm thick. Noticeably larger and heavier than a US quarter.
What Affects the Price
Gold spot price. The Krugerrand tracks gold spot almost exactly. A $100 move in gold means a roughly $100 move in the Krugerrand's value.
Dealer premiums. Common-date Krugerrands trade at 3–5% above spot when buying and 1–3% below spot when selling. This spread is among the tightest of any gold coin.
Date. Early dates from the late 1960s and 1970s occasionally carry small premiums. The 1967 first-year-of-issue is the most sought-after date.
Condition. Minor scratches and handling marks are normal and don't significantly affect the price. Heavily damaged or bent coins may sell slightly below standard premiums.
Proof versions. South Africa has produced proof Krugerrands since 1967. These have a mirror-like finish and carry significant premiums above bullion value.
How to Spot a Fake Krugerrand
Weight: 33.93 grams on a digital scale. This is the single best test.
Dimensions: 32.77mm diameter, 2.84mm thick.
Magnet test: Gold is not magnetic. If a magnet sticks, it's fake.
Color: A genuine Krugerrand has a warm orange-gold color from the copper alloy. Fakes are often too yellow or too dark.
Detail: Check Paul Kruger's beard and the springbok's legs. Genuine coins have sharp, defined details.
Common Questions
Are Krugerrands legal to own in the US?
Yes. A US import ban existed from 1985 to 1991 due to South African apartheid sanctions. That ban was lifted in 1991. Krugerrands are fully legal to buy, sell, and own.
Should I clean my Krugerrand before selling?
No. Cleaning gold coins can damage the surface and reduce their value. Sell it as-is.
Get a Free Quote on Your Krugerrands
Not sure what your coin is worth beyond melt value? US Gold and Coin evaluates krugerrands for free at every location. No appointment needed. No obligation to sell.
Visit us in Dallas, Austin, Tampa, Fort Worth, Waco, Kansas City, Overland Park, Lawrence, or Honolulu. We also offer nationwide mail-in appraisals with insured shipping.