Late last year, a Krugerrand coin worth $1,100 (£900) was donated into a Salvation Army Kettle in Louisville, USA. Such donations don’t happen very often, but when they do, they bring a huge smile to organisers. But the ultimate question here is: if you sell Krugerrand coins, what could they be worth?
A Krugerrand is a South African gold coin. Its name comes from Kruger, after a former South African president, and rand, the South African unit of currency. All Krugerrand coins bear the portrait of President Kruger on them and the South African Springbok on its reverse. Regardless of their size and weight, all Krugerrands are minted from a gold alloy that is 91.67% pure (22 karats). The other 8.33% is made up of copper (which is historically known as crown gold and long been used for English gold sovereigns). This gives Krugerrand coins a more orange appearance than other gold coins and, while they may not have the typical appearance of gold, they are one of the purest coins you can get your hands on. Coins made of a copper alloy are also more durable, making them scratch and dent resistant.
There are four different sizes (or denomination) of Krugerrand coin. These are the one ounce Krugerrand, Half Kruger, Quarter Kruger and Tenth Kruger. While these differ in height and weight, all Krugerrand coins still bear the 91.67% of pure gold.
If you choose to sell Krugerrand coins, the amount you will receive will ultimately depend on its size and condition. An ounce of Krugerrand in poor condition will get you, at a minimum, the scrap value for gold. A lower domination in perfect condition could result in you getting more.
You can determine what year your Krugerrand was produced by looking at the reverse side of the coin. With Krugerrand currency, the year is displayed on either side of the springbok.
Before you even think about selling your Krugerrand coins, it’s important to do your research. A couple of simple tasks are essential for you to do before parting ways with your Krugerrand:
Looking at the current price of gold is a great way to get an idea of how much your gold is worth. Cash your gold websites will often base their quote on the daily price of gold, but the offer you receive may be significantly lower. Fortunately, Post My Gold offers a price match guarantee, ensuring you get the best deal.
If you’re planning to sell Krugerrand coins to Post My Gold, why not take a look through your drawers and see if you can find any old jewellery lying around? We often store our bits and pieces away, leaving them to be forgotten, and you could be sitting on a goldmine. With Post My Gold, you can send it all in one go and have your gold appraised by our experts. Not only do you get rid of all your old clutter, but you could make a hefty sum, too.
At Post My Gold, we make selling Krugerrand coins a hassle-free process. Some sellers have experienced a number of dealers stating that they will only buy back their own coins, making it problematic to find a seller and get a good deal. Other companies may also require you to pay for secure postage and insurance on your coins.
But when you sell your Krugerrands with us, we’ll send you a fully insured, prepaid gold pack. Once we receive your gold, we’ll send you a quote within 24 hours. The entire process is quick, easy and entirely risk-free. We guarantee to offer you the most competitive price around, but should you choose not to accept our offer, no problem; we’ll return your gold to you straight away. Simple!