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How much is a Krugerrand worth? Asked Liam

Krugerrand Version This Krugerrand is worth
1oz Marking from a Krugerrand You can sell the 1 ounce Krugerrand gold coin for $1,063.0
Hallmark of a 1/2oz Krugerrand coin You can sell the 1/2 ounce Krugerrand gold coin for $531.5
Marking of a 1/4oz Krugerrand coin You can sell the 1/4 ounce Krugerrand gold coin for $265.7
Marking of an 1oz Krugerrand gold coin You can sell the 1/10 ounce Krugerrand gold coin for $106.3

How much is a Krugerrand worth? Asked Liam

Hi reDollar appraisers! I found your website on the Internet and was fascinated that you offer gratis appraisals. Is that true? I have some gold coins and would like to find out how much is a Krugerrand worth. I have absolutely no idea how to find out the value, that’s why I contacted you. Please help me with my issue.

Liam from Bozeman in Montana

Hello Liam! Nice to meet you! My name is Alex and I’m happy to assist you with your concern. It’s absolutely true that our appraisals are free, so don’t worry. Our evaluation is nonbinding for you and should just help you to get knowledge about your coin’s fair market value. Krugerrand coins are wide-spread and one of the most famous bullion coins worldwide. Private investors as well as business investors swear by the South African gold coin.
reDollar appraiser, Alex Fordham

Liam wants to know, how much is a Krugerrand worth

Liam: Hi Alex! Thanks for your message. I live in the middle of nowhere in Montana and believe me, I’m so thankful that I found somebody that can help me to find out the value of my Krugerrand. There are no gold buyers up here in my area because we live very isolated but thanks to the Internet I found your company.

Alex: Hi Liam! Thanks for contacting us. Montana is amazing, I love it because of its gorgeous nature. We are happy that you consulted us with your issue.

Liam: You’re welcome! How much is my Krugerrand worth Alex?

Alex: Before I can answer you this question I need to find out some details which are important price indicators. We differ four kind of Krugerrand gold coins. Each of this gold coins has a different gold content. There are 1 oz. Krugerrand gold coins, 1/2 oz. Krugerrand gold coins, 1/4 oz. Krugerrand gold coins, and 1/10 oz. Krugerrand gold coins. Could you please send me a photo of your Krugerrand coin?

Liam: Yes of course! I’ve just sent it. I forgot to mention that initially, but my Krugerrand coin should be a 1 oz. Krugerrand. “FYNGOUD 1 OZ FINE GOLD” is coined on the reverse side of the coin.

Alex: Well, that’s fine! Thank you for the photo. You are absolutely right. Your Krugerrand coin should be a 1 oz. Krugerrand gold coin with a weight of one troy ounce fine gold. The Krugerrand gold coin is a South African gold coin which was introduced and first minted in 1967 as vehicle for private ownership of gold. Back then the Krugerrand gold coin had the status of legal tender or currency. Do you know what the name Krugerrand means?

Liam: No unfortunately not.

Alex: The name Krugerrand comes from the name “Kruger”, which leads to Mr. Stephanus Johannes Paulus Kruger, who was a military and political leader of South Africa. Above that he served as President of the South African Republic from 1883-1990. And “rand” derives from the South African currency rand. In the course of the apartheid in the 1970’s and 1980’s the import of Krugerrand coins was strictly forbidden.

Liam: Oh really that’s interesting but nowadays the coin is very popular, isn’t it?

Alex: Yes it is. Nowadays the Krugerrand is one of the most important bullion coins. I would like to make sure that your Krugerrand is authentic, as best as I can do that from afar. Please be so kind and weigh your Krugerrand gold coin.

Liam: Yes I can do that but I’m sure it weighs 31.1gram for one troy ounce but your wish is my command.

Alex: Thank you! I’m sure you will be surprised.

Liam: Oh my god! I think my Krugerrand is a faked coin!

Alex: Why do you think that?

Liam: The weight of my Krugerrand is not 31.3 grams, it’s more. My 1 oz Krugerrand has a weight of 33.93 grams.

Alex: Don’t worry! That’s perfect! Finally please measure the diameter for me.

Liam: That’s perfect? I’m surprised! The diameter is 32.76 mm.

Alex: Congratulations Liam! It seems that you own an authentic Krugerrand gold coin. I didn’t doubt the authenticity but to perform the evaluation process properly and correct, I have to ask for this detailed information.

Liam: I understand. Puh, I’m relieved but why is there a deviance in weight?

Alex: The South African Krugerrand is made of 22 Karat gold. That means that it has a total weight of 33.93 grams which contains 31.10 gram of pure gold. So the Krugerrand has a total weight of 1.0909 troy ounces (33.93 grams). 22 Karat gold has a fineness of 91.67%. The Krugerrand contains one troy ounce of fine gold (31.10 grams) and the remaining 8.33% are copper. That explains why the Krugerrand has a reddish shimmer, this is because of the copper amount. Can you follow my explanation Liam?

Liam: Yes I think I understand. In my simply words spoken: 31.10 gram is the fine gold amount and the remaining 2.83 grams are only copper, right?

Alex: Yes that’s right! I know the value determination of coins can be a bit tricky and confusing for laymen but once you have understand the principle how alloys are compounded it’s much easier to understand the principle.

Liam: First I had a shock but I’m very thankful for your educational explanation. Now back to my initial question. How much is a Krugerrand worth?

Alex: A Krugerrand coin like yours, the 1 oz. Krugerrand gold coin, has a current market value of $1,202.30 (3/5/2015). This amount reflects the current stock market price.

Liam: Wow! That’s a lot for only one gold coin. Is this the price you would also pay me?

Alex: Well, this is the stock market price for one ounce of gold. That our company can exist, we have to deduct a margin but our margin for fine gold is very low in comparison to other gold buyers. Depending on the condition of your Krugerrand gold coin, we would deduct a margin of only 4%-8%. In that explicit case our purchase price would be $1154.21- $1106.12. Please consider that the gold price fluctuates. The stated price is valid on 3/5/2015. We also work with a fantastic tool, called gold calculator. We update our prices two times a day, that way you can perfectly watch the changes and fluctuations of the gold price.

Liam: Wow that sounds very fair! I’m totally convinced of your company. Thank you Alex for your outstanding support! For me there is no doubt why not selling my Krugerrand gold coin with you. How can I proceed?

Alex: Thank you for your kind words Liam, I’m happy that you are satisfied with our support and convinced of our professionalism. You can get started right now! Our service representatives will guide you through the entire sales process but you will see, the procedure is super simple and done with just three clicks.

Other questions asked:

John from Seattle asked: How much is my gold coin worth?