The Krugerrand: complete guide to the South African gold coin

The South African Krugerrand is the best-selling investment gold coin in history: over 60 million units struck since 1967. It contains exactly 1 troy ounce (31.1035g) of pure gold at 916.7‰ (22 karats).

Total weight: 33.93g (the copper alloy gives its characteristic reddish tint). Intrinsic value is calculated on the 31.1035g of fine gold, not the total weight.

Market premium: The Krugerrand typically trades at a 3-6% premium over spot gold, making it one of the cheapest coins to buy. The premium is lower than the Maple Leaf (5-8%) or the American Eagle (4-7%).

In Switzerland: The Krugerrand is widely accepted by all banks and dealers. It is VAT-exempt as an investment coin. Liquidity is excellent — bid/ask spread of 1-3%.

Beware of counterfeits: The Krugerrand is the most counterfeited coin in the world due to its popularity. Check weight (33.93g ±0.03g), diameter (32.77mm) and thickness (2.84mm). If in doubt, an XRF or densimetric test is definitive.