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Krugerrand Gold Coins
Number of products: 15The Krugerrand is the coin that created the bullion market. Struck since 3 July 1967, it holds exactly one troy ounce of gold in a 33.93 g coin — the extra 2.83 g is copper, which is what gives the Krugerrand its reddish tone and its resistance to marking.
It carries no face value at all. Where a Britannia says £100 and a Maple Leaf says 50 dollars, the Krugerrand states its gold content and nothing else.
Specification
One ounce and three fractions, all at 916.7 fineness. The fractions arrived in 1980, thirteen years after the full ounce.
| Fraction | Gross weight | Fine gold | Diameter | Thickness |
|---|---|---|---|---|
| 1 oz | 33.93 g | 31.10 g | 32.77 mm | 2.84 mm |
| 1/2 oz | 16.97 g | 15.55 g | 27.07 mm | 2.22 mm |
| 1/4 oz | 8.48 g | 7.78 g | 22.06 mm | 1.89 mm |
| 1/10 oz | 3.39 g | 3.11 g | 16.55 mm | 1.35 mm |
Why 22 carat rather than 999.9
The Krugerrand was designed to be handled. A 999.9 coin such as the Maple Leaf marks easily; a 22 carat coin with copper in the alloy does not. The trade-off is that the coin is heavier than its gold content — 33.93 g on the scales for 31.10 g of gold — which surprises anyone who weighs the coin against a one-ounce reference.
The design has not changed since the first strike. Paul Kruger's profile on the obverse is Otto Schultz's 1892 portrait; the springbok on the reverse is Coert Steynberg's 1947 design. Only the date moves.
Two points on tax and eligibility
First, tax: HMRC names the Krugerrand explicitly in its Capital Gains Manual at CG78305 as a chargeable asset, because it is not sterling currency. The exemption under section 21(1)(b) of TCGA 1992 applies to Royal Mint coins that are sterling — the Sovereign and the Britannia. This is the position HMRC publishes, stated as law and not as tax advice, and it applies to UK taxpayers.
Second, US retirement accounts: the Krugerrand is not eligible. The statutory exception at 26 U.S.C. 408(m)(3) names the American Eagle by reference to its own legislation and otherwise sets a fineness floor that 916.7 does not clear.
What is in this category
Full-ounce Krugerrands in current and mixed years, plus the half, quarter and tenth ounce. Because the design is fixed, year of issue rarely affects the price of a bullion Krugerrand — it trades on gold content and condition. Live figures on the gold price page.
Questions buyers ask
How much gold is in a 1 oz Krugerrand?
Exactly one troy ounce — 31.10 g. The coin weighs 33.93 g because the remaining 2.83 g is copper.
What is a Krugerrand worth?
The gold price for one troy ounce, plus the premium on that coin. The copper adds weight but no value.
Does a Krugerrand have a face value?
No. It is issued without one, and states its gold content instead — unusual among modern bullion coins.
Is a Krugerrand exempt from UK capital gains tax?
No. HMRC's Capital Gains Manual names the Krugerrand as a chargeable asset because it is not sterling currency. The exemption applies to Royal Mint coins such as the Sovereign and Britannia.
Why does the year not affect the price?
Because the design has not changed since 1967 — only the date. Bullion Krugerrands of any year hold the same ounce of gold and trade accordingly.
Do you buy Krugerrands back?
Yes, against the current gold price. Mixed-year Krugerrands are quoted the same as current-year coins, because the specification never changed. See the buyback page.
Other gold coin series
Sovereign · Britannia · Maple Leaf · American Eagle · Vienna Philharmonic · Australian Kangaroo · Chinese Panda · 1 oz gold coins · historic coins
All series are listed together on the gold coins page. For the same metal without a face value, see gold bars.
