|Weight:||Spot Price:||Buy Price:|
|1.00 oz||£ 1,238.15||£ 1,324.20|
Buy Gold Krugerrands - 1 oz - By Post or for Storage
What are Gold Krugerrands?
Gold Krugerrands are 1 oz gold bullion coins produced by The South African Mint. They are accredited as being the first modern bullion investment gold coin. They are still one of the most popular gold bullion coins in the world and today remain one of the most popular gold bullion coins in the UK.
Gold Krugerrands were designed and first minted in 1967 specifically as investment gold coins. South African Krugerrands were mass produced to help retail investors purchase gold bullion with ease and in confidence. They are widely traded on the global gold markets and well over 50 million have been created. They are therefore competitively priced and highly liquid.
GoldCore have supplied gold bullion coins including Gold Krugerrands to British clients since our inception in 2003.
What are the benefits in buying Gold Krugerrands?
- Gold Krugerrands contain 1 troy ounce (1 oz) of investment grade gold
- Legal tender coin backed by the government of South Africa
- VAT free gold for UK buyers - unlike gold jewellery
- Rand Refinery and South African Mint respected international refiner and mint
- Competitive pricing and premiums
- Portable, internationally liquid form of financial insurance
How to Buy Gold Krugerrands?
Buying Gold Krugerrands is an easy and simple process in the UK. You can buy them online for Delivery or Storage using the BUY button or you can call our office to place your order over the phone.
GoldCore sells Gold Krugerrands and all major bullion bar and coin products and you can pay by bank wire, credit card or debit card.
We make a market in Krugerrands and offer fully insured delivery to UK clients throughout England, Scotland, Wales and Northern Ireland from our depository partner vaults in London and Zurich.
Insured delivery of Gold Krugerrands, including monster boxes, to homes or offices is also popular and many clients do both - take delivery of some Gold Krugerrands and own the rest in GoldCore Secure Storage.
Many of our UK clients opt to store their Krugerrands in fully insured, offshore GoldCore Secure Storage jurisdictions. We specialise in offering our clients in the UK and internationally access to allocated and segregated bullion storage in secure, non bank vault partners in safer jurisdictions in the world such as Zurich, Hong Kong and Singapore.
What is the price of a Gold Krugerrand?
The price of a Gold Krugerrand (1 oz) is shown in the upper right section of this page. The price of a 1 oz gold Krugerrand is calculated using three components:
- Gold spot price is the price of an ounce of pure gold available for immediate delivery or delivery ‘on the spot’. It is typically determined by the best bid and offer for gold as offered by large bullion banks trading in real time throughout the world and quoted by data providers such as Thomson Reuters and Bloomberg and quoted in the Financial Times and many newspapers.
- Weight and purity of gold. Gold Krugerrands have a purity of 0.9167 (purity), however the coins total weight is 1.0909 ozs so that there is still exactly 1 troy ounce of pure gold in each coin
- The gold price premium is the percentage adjustment that is added or deducted from the gold spot price. The gold premium of gold coins or bars are determined by the costs of production, refining, fabrication, minting and the logistics of making the gold coins available for sale in the UK. The price of a Gold Krugerrand is also impacted by supply and demand and the amount of gold being bought.
In order to determine the price of a Gold Krugerrand, simply multiply the spot price of gold by the number of gold troy ounces in the Gold Krugerrand (1 ounce) and then add or subtract the current premium for the coin or coins.
The value of a Gold Krugerrand is their competitive price, high degree of popularity and internationally liquidity. They are considered to be a portable store of value and a vital form of financial insurance. They are one of the best ways for gold buyers and investors to own physical gold. For 50 years, they have acted as a hedge and protected gold owners from domestic and international financial and monetary risks.
How Much Gold is in a Gold Krugerrand?
Gold Krugerrands are 22 karat gold coin, with a fineness of 0.9167 or 22/24 pure gold. It is made of 11 parts gold to 1 part copper, creating an alloy known as crown coin. The copper is added to provide durability and strength to the coin.
With exactly 1 troy ounce of fine gold, or 31.103 grams, the gross weight of the coin is slight over a troy ounce at 1.0909 ozs or 33.93 grams.
The coin has a maximum diameter of 32.77mm and a thickness of 2.84mm. There are 180 serrations on the coin’s rim. The reverse of the Krugerrand shows an image of South Africa’s national animal, the Springbok. The front (obverse) of the Krugerrand bears the profile of Paul Kruger.
(Note: Gold Krugerrands are commonly misspelt as Gold Kruggerands, Gold Krugerands, Gold Kreugerrands, gold Kugerrands, Gold Kuggerands and Gold Krueger rand)
|£ 1,000 - £ 19,999||£ 1,324.20||6.95%|
|£ 20,000 - £ 57,999||£ 1,320.89||6.68%|
|£ 58,000 - £ 97,999||£ 1,317.58||6.42%|
|£ 98,000 - £ 245,999||£ 1,315.38||6.24%|
|£ 246,000 +||£ 1,315.38||6.24%|
What is the History of Gold Krugerrands?
The Krugerrand is named after Paul Kruger, a former President of the South African Republic in the late 1800s. Kruger is famous as the South African leader of the Boers against the British Empire in 1899-1902 Boer War.
The ‘Rand’ in the coin’s name comes from the South African currency, the Rand which is itself named after the world famous Witwatersrand gold reef in the Transvaal, the largest gold producing area in the world.
In the mid-1960s the South African Chamber of Mines devised the Krugerrand as a way of selling South African gold to retail investors internationally. The first Krugerrands were minted in 1967 but only mass produced for the international market beginning in 1970.
The Rand Refinery produce the coin blanks for gold Krugerrands which are minted by both the Rand Refinery and the South African Mint Company.
The Rand Refinery is a private company owned by four leading South African gold mining companies, namely, Goldfields, AngloGold Ashanti, Harmony and DRDGOLD. The refinery, located in Germiston, east of Johannesburg, is the largest single gold refining and smelting site in the world and has refined more than 25% of the world’s gold mining output.
It is regarded by gold market participants globally as one of the world’s premier precious metals refineries.
The South African Mint is the leading mint in Africa and the official mint of South Africa. It has over 100 years of experience minting gold and other coins for Africa and countries internationally. The South African Mint Company is located in Centurion, between Pretoria and Johannesburg and is a wholly owned subsidiary of the South African Reserve Bank (SARB).
Gold Krugerrands have legal tender status in South Africa but they have never recorded a face value on the obverse or reverse side of the gold coin. This was done in order to underline that the value of each gold coin is directly related to the prevailing value of their fine gold content rather than an arbitrary fiat value.
Why Buy South African Krugerrands?
Gold Krugerrands typically command premiums of between 3.3% and 4% with GoldCore who offer some of the most competitive premiums for both deliveries, by post, in the UK and for secure international storage. Krugerrands are one of the worlds most well established and recognisable bullion investment coins in the world. No matter where you may find yourself in the world the chances are that internationally a Krugerrand coin will be recognised and deemed an acceptable form of bullion for trade.