Current Value of a Krugerrand

In 1967 the government of South Africa decided to increase the marketing of South African gold so they minted the Gold Krugerrand . This coin was the first of its kind and was valued with the monetary value of gold. As investors see the uncertainty in stocks they try other investments like the Krugerrand. The prices of gold have been increasing since the start of this year. In January this year gold was about $846 and then in a time of just six months it reached to $1000. It is expected to go up to $1100 by the end of this year. Resulting in a growth of 30% these coins are generally sold at a premium of 4-5%. If one buys a single coin then it will be at a premium of 10%. These days there are more than 54 million Krugerrands all over the world. These Gold Krugerrands are durable and are alloyed with a small amount of copper. This makes them 22 karat coins. They contain 11/12th part 24 karat gold and the other 1/12th part is copper. Copper makes them hard. Thus they become resistant to denting and scratching and getting damaged easily. They are also easy to transport and store which increases the Krugerrand value in every other sense also. It served as a prototype for other gold producing nations to launch their own such gold coins.

The value is calculated on the “spot price” and additional premium per coin. The spot price of gold is reported every business day. The spot price can be checked in news papers, on the radio, on the TV and even online. The Krugerrand value depends on the size of the coin also. It is available in one ounce, half an ounce, one fourth an ounce and even one tenth an ounce. What remains same in all of them is the purity that is .917.

The current Krugerrend value is $939.33. This coin is 33.930 grams and weight and 32.77 mm in diameter. The current market trend shows that the Krugerrand value will increase keep increasing thus making it a safe investment.