Krugerrand Denominations
Also: Krugerrand sizes, KR denominations
South Africa strikes the Krugerrand in four set weights — 1 oz, 1/2 oz, 1/4 oz and 1/10 oz — every one of them sharing the same 916.7/1000 fineness (22 carat).
No other gold investment coin has been around longer or sold in greater numbers than the Krugerrand. It has come off the presses at the Rand Refinery in Germiston and the South African Mint in Centurion ever since 1967. Here is the detail that catches buyers off guard: rather than being pure gold, the Krugerrand is a 22-carat alloy — 91.67% gold married with 8.33% copper. That copper lends the coin its trademark reddish cast and makes it tougher against the scratches of daily handling.
The four official weight denominations
The full line-up has been in place since 1980. Every size holds an identical fineness of 916.7 ‰, yet they part ways on overall weight, diameter and thickness:
| Denomination | Fine gold | Gross weight | Diameter | Thickness |
|---|---|---|---|---|
| 1 oz | 31.1035 g | 33.930 g | 32.77 mm | 2.84 mm |
| 1/2 oz | 15.5518 g | 16.965 g | 27.07 mm | 2.215 mm |
| 1/4 oz | 7.7759 g | 8.482 g | 22.05 mm | 1.888 mm |
| 1/10 oz | 3.1103 g | 3.393 g | 16.55 mm | 1.35 mm |
In each case the gross weight comes out above the fine weight, since the copper share adds to the total. Both the gold calculator and the melt-value calculator let you work out what any denomination is worth in metal terms right now.
Fineness and calculation of the gold content
Fine weight = gross weight × 0.91667
Example 1 oz: 33.930 g × 0.91667 ≈ 31.1035 g fine gold
Quotes for the spot price always run per troy ounce (31.1035 g). That means the 1 oz Krugerrand's material value tracks the current gold price almost to the letter — with the premium (agio) added on top to cover the dealer's minting, logistics and margin.
Premiums by denomination
The smaller the coin, the larger the premium in relative terms: making each piece costs roughly the same while the gold inside shrinks steeply.
- 1 oz: typically 2–4% over spot
- 1/2 oz: typically 4–6% over spot
- 1/4 oz: typically 6–9% over spot
- 1/10 oz: typically 10–15% over spot
If getting as near the spot price as possible is your goal, the 1 oz coin is the way to go. The smaller sizes earn their keep when you value the freedom to sell off or gift in modest amounts. Note: this is not investment advice.
Proof issues and special mintings
Beyond the everyday bullion strikes (brilliant uncirculated), each of the four denominations also comes as a proof coin, pairing a mirror-bright field with a frosted relief. Struck in smaller runs and delivered with a certificate and capsule, this collector's edition carries a hefty mark-up over the bullion piece — and its resale value leans far more on numismatics than on the metal it contains.
VAT and legal classification
Every one of the four Krugerrand denominations counts as investment gold under UK law, so it is VAT-exempt (HMRC; purity ≥ 995‰; Directive 2006/112/EC). Where UK Capital Gains Tax is concerned, Krugerrand profits can fall within CGT once you go past the annual exempt amount, because they are not UK legal-tender coins from The Royal Mint; the taxable gain is disposal proceeds less acquisition cost. No German one-year speculation period applies here. No tax or legal advice; please consult a tax adviser in individual cases.
Authenticity check based on dimensions
Rand Refinery keeps its dimensional tolerances very tight. Feed each denomination into the coin weight checker to compare its weight against the reference values. Anything off by more than 0.05 g, or a diameter that looks wrong, is a red flag for a fake — usually a tungsten core wrapped in a gold skin.
In brief
You will find the Krugerrand in four weights, from 1 oz down to 1/10 oz, all struck in 22-carat gold. Chasing maximum capital efficiency points you to the 1 oz coin; wanting to split your holding into smaller pieces means paying a steeper premium. Before you buy, always look up the current gold price and the material value.