Sell Gold Krugerrand to The #1 Gold Krugerrand Buyer and Get Best Price
Learn how to get the best gold Krugerrand price offer when you sell gold krugerrand in Las Vegas, NV. Nevada Coin Mart is the #1 gold Krugerrand buyer in Las Vegas and Henderson, NV.
Gold Krugerrand Price (value)
Gold Krugerrands do not have any face value, however, they are considered legal tender by the South African Reserve Bank Act (SARBA) of 1989. Because of that, they cannot be considered coins, they are considered as bullion rounds.
The price of gold Krugerrands is hugely based on its gold content (fineness), weight (in troy ounces), and the spot price of gold (which constantly changes). These are the basic factors that are used to compute the price of Gold Krugerrands. Other factors such as rarity and collectability may also come into play.
To learn more about gold’s spot price, click on the link below:
Sell Gold Krugerrand
Gold Krugerrands are seen as a good investment, but when it comes to deciding to sell your gold krugerrand, Nevada Coin Mart is the best place to sell them. Nevada Coin Mart has the best and most competitive gold Krugerrand prices in town.
First minted on July 3, 1967, the Gold Krugerrand is South Africa’s official gold bullion coin. It was produced to help the South African gold market, manufactured by the South African Mint and Rand Refinery.
The gold Krugerrand is named after Paul Kruger, a former president of South Africa and “rand” for the South African unit of currency.
The gold Krugerrand was produced in 1967 as a way to privately own gold. It was made of a copper-gold alloy as opposed to fine gold, as the added copper made it more durable to damages. In 1980, the Krugerrand dominated 90% of the gold coin market worldwide. South Africa also released three coins of smaller weight during that year, the ½ troy ounce, ¼ ounce, and 1/10 ounce of gold.
Because of the economic sanctions due to the apartheid in the 1970s and 1980s, importing the gold Krugerrand was made illegal in Western countries. The United States, in particular, was historically the largest importer for the Krugerrand banned its import in 1985. Over US$600 million Krugerrand was imported into the United States in 1984. In 1991, most sanctions were lifted as the South African government ended its apartheid era.
Over 50 million ounces of gold Krugerrand has been sold since 1967.
The gold Krugerrand measures 1.290 inches in diameter and 0.112 inches thick, and it weighs exactly 1 1⁄11 troy ounces. It is made from 91.67% (22-karats) fine gold and 8.33% copper, which makes the 1/11 ounce of the coin’s weight. The copper also gives the coin a more orange hue and makes it more durable from damages. These factors come into play when it comes to gold Krugerrand prices.
The coin’s obverse design is designed by Otto Schulz, and it bears the portrait of Paul Kruger, a former president of the South African Republic. It also bears the words “SUID-AFRIKA·SOUTH AFRICA”. On the coin’s reverse side shows the national animal of South Africa, the springbok. The reverse side was designed by the renowned South African sculptor Coert Steynberg. The word “KRUGERRAND,” the year minted, and the weight is also indicated on the reverse side.