Sell Gold Krugerrand | Where to Sell Gold Krugerrand Coins in Las Vegas
Learn how to get the best gold Krugerrand price offer when you sell gold krugerrand in Las Vegas, NV. As the most favored bullion buyer in the area, Nevada Coin Mart is the best place where you can sell your Gold Krugerrands. You can find individual buyers independently, but it will take you a lot of time and effort. Doing so also requires you to have a good network. Additionally, you would want to go for persons who know the true value of your Gold Krugerrands, which can be tedious. If you want to learn how to sell Gold Krugerrands faster, we recommend reading on.
Value of Gold Krugerrands
Gold Krugerrands do not have any face value. Because of that, they cannot be considered coins. Instead, citizens can use them 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 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 deciding to sell your gold krugerrand, Nevada Coin Mart is the best place to sell them. Our store has the best and most competitive gold Krugerrand prices in town. Since the price of Gold Krugerrands depends on the spot price of gold, make sure you know its price in the market first.
First minted on July 3, 1967, the Gold Krugerrand is South Africa’s official gold bullion coin. Together with the South African Mint and Rand Refinery, the government came up with the coin to help the African gold market.
Where to Sell Gold Krugerrands
Nevada Coin Mart is the widest bullion buyer in Las Vegas. We buy almost all gold bullion items, coins, and bars. As the widest bullion buyer, we pay the most cash for Gold Krugerrands compared to any other store. Our store is home to experts who are extremely knowledgeable about any coins. We also have the latest equipment to help you identify the authenticity of your coin, which guarantees that you get an offer that matches the value of your Gold Krugerrands.
The Mint named the gold Krugerrand after Paul Kruger, a former president of South Africa, and “rand,” the South African currency unit.
They made the gold Krugerrand in 1967 to allow citizens to own gold privately. For manufacturing, the Mint used a copper-gold alloy instead of 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.
By 1984, they had imported over $600 million worth of Krugerrands. However, because of the economic sanctions due to the apartheid in the 1970s and 1980s, importing the gold Krugerrand became illegal in Western countries. Historically, the United States, the largest importer for the Krugerrand, banned its import in 1985. In 1991, most sanctions were lifted as the South African government ended its apartheid era.
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 up 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.
Artist and engraver Otto Schulz designed the coin’s obverse design, 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.” 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.