KRUGERRANDS
Contact Knox to Buy and Sell your 22 Carat Krugerrands
PRICE LIST
| FINE WEIGHT | BUY BACK PRICE | KNOX SELLING PRICE |
|---|---|---|
| 1 ounce (2024) | R47 800.00 | R50 900.00 |
| 1 ounce mixed years | R 47 800.00 | R 50 400.00 |
| 1/2 ounce | R 23 350.00 | R 25 150.00 |
| 1/4 ounce | R 11 550.00 | R 12 650.00 |
| 1/10 ounce | R 4 500.00 | R 5 300.00 |
| SILVER BAR | R 24 000.00 | |
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Krugerrand description
You may have noticed that the gold krugerrand has a slightly different color than the gold eagles and gold maples. This is because the coins are 22k gold and are composed of 91.67% gold and 8.33% copper. However, they still contain one troy ounce of fine gold; they’re simply heavier than 24k gold coins, weighing in at 33.93 grams.
To this day, the design of the krugerrand remains nearly unchanged. The obverse, or front of the coin, depicts Paul Kruger, South African Republic’s 5th president, and the reverse displays a springbok, the national animal of South Africa. The springbok is frequently mistaken for an antelope. One intriguing fact that distinguishes the Krugerrand from other gold coins is that it doesn’t indicate a denomination on the coin.
History
The Krugerrand is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and rand, the South African unit of currency. On the reverse side of the Krugerrand is a pronking springbok, South Africa’s national animal.
By 1980 the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for investors buying gold. However, during the 1980s and 1990s, Krugerrands fell out of favour as some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa.
Although gold Krugerrand coins have no face value, they are considered legal tender in South Africa by the South African Reserve Bank Act (SARBA) of 1989.
In 2017, the Rand Refinery began minting silver versions, which have the same overall design as the gold coin.
The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. It was minted in a copper-gold alloy more durable than pure gold. By 1980 the Krugerrand accounted for 90% of the global gold coin market. That year, South Africa introduced three smaller coins containing 1⁄2, 1⁄4, and 1⁄10 troy ounce.
Krugerrand Composition
| FINE WEIGHT | Fineness | gold content | Total weight | size |
|---|---|---|---|---|
| 1 ounce | R916,66 / 1000 | 31,103 gram | 33,99 gram | 32,70 x 2,80 mm |
| 1/2 ounce | R916,66 / 1000 | 15,552 gram | 16,96 gram | 27,00 x 2,20 mm |
| 1/4 ounce | R916,66 / 1000 | 7,776 gram | 8,48 gram | 22,00 x 1,80 mm |
| 1/10 ounce | R916,66 / 1000 | 3,110 gram | 3,39 gram | 16,50 x 1,30 mm |
