Overview
About the South African Krugerrand
The Krugerrand was created to give people an easy way to own gold, and it is often called the first modern gold bullion coin. It is 22-karat gold alloyed with copper, which gives it a slightly orange tint.
It has no face value printed on it but is legal tender in South Africa. Because it is so well known, dealers in most countries buy and sell it.
For background on the metal itself, see our gold guide.
Reference
Specifications
| Issuer | South African Mint |
|---|---|
| Country | South Africa |
| First year | 1967 |
| Type | Bullion coin |
| Metal | Gold |
| Purity | .9167 (22 karat) |
| Gross weight | 33.93 g (1.0909 troy oz) |
| Pure gold content | 1 troy oz (31.103 g) |
| Face value | None stated (legal tender in South Africa) |
| Available sizes | 1 oz, 1/2 oz, 1/4 oz, 1/10 oz |
Try it
Melt value calculator
Pre-filled with the latest price. Edit it to try another price.
Melt value
$4,141.82
1 troy oz of pure gold
Melt value is the metal content at spot. Dealers sell above it (the premium) and usually buy below it. Rare coins can be worth far more than melt.
Pre-set to one South African Krugerrand. Change the weight to value several coins, or a different size.
Look closer
Design
Design
The obverse shows Paul Kruger, a former president of the South African Republic, after whom the coin is named.
The reverse shows a springbok antelope, the national animal of South Africa.
Watch out for
What to check when buying
- One of the most faked gold coins. Its age and popularity make the Krugerrand a common target. Buy from established dealers and test what you buy.
- Colour isn't proof. The copper alloy gives genuine coins an orange-red tint, and fakes copy it. Check weight and size instead.
- Magnetic coins. Gold isn't magnetic. A coin that sticks to a strong magnet is not genuine, though passing the magnet test doesn't prove a coin is real.
Retirement accounts
IRA eligibility
Generally no. Its 22-karat purity is below the standard US IRA rules set for gold bullion, and unlike the American Gold Eagle it has no special exception. Rules change and custodians set their own lists, so confirm with your IRA custodian before buying.
IRA metal has to be held by a custodian in an approved depository, not at home.
Good to know
Frequently asked questions
How much gold is in a South African Krugerrand?
A South African Krugerrand (1 oz size) contains 1 troy oz (31.103 g) of pure gold at .9167 fineness, in a coin weighing 33.93 g in total.
What is a South African Krugerrand worth?
At the latest gold spot price of $4,141.80 per troy ounce, the metal in one coin is worth about $4,141.80. Dealers sell above melt value (the premium) and usually buy back a little below it.
Can a South African Krugerrand go in an IRA?
Generally no. Its 22-karat purity is below the standard US IRA rules set for gold bullion, and unlike the American Gold Eagle it has no special exception. Rules change and custodians set their own lists, so confirm with your IRA custodian before buying.
How can I tell if a South African Krugerrand is fake?
Compare it with the published specs. One of the most faked gold coins. Its age and popularity make the Krugerrand a common target. Buy from established dealers and test what you buy. If you're unsure, ask an established dealer to test it.
This page is for general education only and isn’t financial, tax or legal advice. Melt value is an estimate of metal content, not a dealer quote, and prices may be delayed. Check current details with a dealer or a licensed adviser before making decisions.