Krugerrand

The Krugerrand is the most famous and best-selling gold bullion coin in the world. Struck since 1967 by South Africa's Rand Refinery and the South African Mint, it was the first coin designed specifically for private gold ownership — and in doing so it defined the entire category of bullion coins.

Composition and fineness

The Krugerrand is made from a 22-carat gold alloy, corresponding to a fineness of 916.7/1000. The added copper makes the coin more durable and gives it its characteristic reddish hue. Crucially: despite the alloy, the one-ounce coin contains exactly one troy ounce of pure gold — the total weight sits at around 33.93 grams because of the copper content.

The Krugerrand is available in four sizes: 1 oz, 1/2 oz, 1/4 oz and 1/10 oz.

Design

The obverse shows Paul Kruger, the last president of the South African Republic, while the reverse features a springbok antelope — the national animal of South Africa. The name combines "Kruger" with the South African currency, the "rand".

The Krugerrand as an investment

Because it is recognised worldwide and extremely liquid, the Krugerrand can be bought and sold almost anywhere. It counts as tax-favoured investment gold and is therefore VAT-exempt on purchase in Ireland. The premium over the pure spot price is comparatively low thanks to the enormous quantities minted.

You can work out the current value of a Krugerrand ounce with the gold calculator — simply apply one troy ounce to the current gold price. For second-hand purchases a quick authenticity check pays off: weight, diameter and thickness are standardised and can be verified with the coin authenticity check.

In brief

The Krugerrand is the classic among gold coins: robust thanks to its 22-carat alloy, tradeable worldwide and holding exactly one troy ounce of fine gold in the large version. For many investors it is the straightforward way into physical gold.