Krugerrand: specifications, value and where to buy

The Krugerrand was the first modern coin designed to let ordinary people own an exact ounce of gold, and it still trades in huge numbers: Rand Refinery says more than 60 million ounces have been sold. Its 22 carat alloy, missing face value and well-known springbok design set it apart from newer 99.99% coins. Those same features shape how it is taxed. Here are the official specifications, the live value, real dealer prices and the rules in four countries.

What are the Krugerrand's specifications?

Sources: South African Reserve Bank, Rand Refinery, The Royal Mint's Krugerrand listing (diameter, fineness, designers). Total weight is the fine gold divided by the 916.7 fineness; the issuers' pages we checked do not state it.

The South African Mint says it makes proof (collector) Krugerrands itself and jointly manufactures the bullion Krugerrand with Rand Refinery, the large Johannesburg refinery. Rand Refinery says the copper in the alloy makes the coins harder to scratch or deface, which protects their resale value.

What sizes does the Krugerrand come in?

Total weights calculated from fine gold at 916.7 fineness. Dealers also list smaller 1/20 oz and 1/50 oz Krugerrands from special issues.

What is the history of the Krugerrand?

The Krugerrand was launched in 1967 to market South African gold. Rand Refinery describes it as the brainchild of the Chamber of Mines, and the South African Reserve Bank records that it was first struck on 3 July 1967. The idea was new at the time: a legal tender gold coin whose value followed the daily gold price, rather than a fixed face value. Fractional sizes of 1/2, 1/4 and 1/10 oz followed in 1980.

Politics then got in the way. During the 1980s many Western countries restricted imports of the coin as part of sanctions against apartheid, and the United States banned imports in 1985. Most sanctions were lifted in the early 1990s, and the coin returned to dealers' shelves worldwide. Today it is one of several 1 oz bullion coins competing on price, alongside the American Gold Eagle, Maple Leaf and Britannia.

What is a Krugerrand worth today?

The melt value is what the gold inside is worth at the live spot price, the wholesale market price. Because the 1 oz coin holds exactly one ounce, its melt value is simply the spot price.

Spot-based melt values, not dealer prices. Last updated: Loading. For other quantities use the coin melt value calculator.

What do dealers charge for a Krugerrand?

A premium is the amount above melt value that a dealer charges. On Sunday 11 October 2026, with the gold market closed and spot at about £3,171 per ounce, we read Hatton Garden Metals' prices for a single 1 oz Krugerrand, both to buy and to sell back.

Percentages are against the value of one ounce at spot. Britannia figures from the GoldVetted price check, 10 October 2026. Round-trip cost = buy price minus buyback price, as a share of the buy price. More dates: premium tracker.

At this dealer, the Krugerrand was about £18 cheaper to buy than a best-value Britannia, and the buyback prices were almost identical. For a UK buyer the catch is tax: the Britannia's gains are free of Capital Gains Tax and the Krugerrand's are not. Below the annual exempt amount that may not matter; above it, the Britannia's small extra cost can pay for itself. For a wider comparison see gold coins vs gold bars.

See Krugerrand prices at Hatton Garden Metals

How is the Krugerrand taxed in the US, UK, Canada and Australia?

United Kingdom. HMRC's Capital Gains Manual is unusually direct: "Coins which are currency but not sterling, for example Krugerrands, are chargeable assets." It also says the chattels exemption (for personal possessions sold for modest sums) does not apply to non-sterling currency. So every gain counts towards Capital Gains Tax above your annual exempt amount. Krugerrands are still free of VAT as investment gold coins. More in our UK gold tax guide.

United States. Gains on gold coins are taxed at the collectibles rate, up to 28% for coins held over a year (IRS Topic 409). Dealers must report some purchases from customers on Form 1099-B, including 25 or more 1 oz Krugerrands in one transaction. The Krugerrand is not allowed in an IRA: 26 USC 408(m) only exempts specified US coins and bullion of futures-delivery fineness (99.5% for gold), and IRS Publication 590-B repeats that rule. See our gold IRA guide.

Canada and Australia. Both tax systems use a purity test, not a gold-weight test. The Krugerrand has a full ounce of gold but is only 91.67% pure, so GST or HST (Canada) and GST (Australia) normally apply when you buy. The 99.99% Maple Leaf and Kangaroo avoid this.

How do you spot a fake Krugerrand?

The Krugerrand has been made for nearly 60 years in large numbers, which makes it a common target for counterfeiters.

• Weigh it: about 33.93 g for the 1 oz coin. A jeweller's scale reading to 0.01 g catches crude fakes.
• Measure it: 32.77 mm across. Tungsten-filled fakes can match the weight but are usually the wrong size or thickness.
• Check the colour: the copper alloy gives a warm orange-red tone. A bright yellow or greyish coin needs testing.
• Look at the detail: Kruger's portrait, the springbok and the lettering should be crisp. The coin should state its gold content rather than a face value.
• Test it non-destructively: dealers can use XRF (an X-ray scan of the surface metal) or ultrasonic testing for coins bought privately.
• Buy from an established dealer: most fakes are sold through marketplaces and private sales at prices that look too good.

More checks in how to tell if gold is real.

Which years and versions of the Krugerrand exist?

For a bullion buyer, the date rarely matters: every 1 oz bullion Krugerrand holds the same ounce of gold. Proofs and special editions are collector items, and their premiums are seldom fully paid back on resale. Read bullion vs numismatic coins before paying extra for one.

Where can you buy Krugerrands?

In the UK, Krugerrands are sold by online dealers including Hatton Garden Metals, Chards and BullionByPost. In the US, large online dealers such as APMEX and SD Bullion carry them. In Canada and Australia they are available, but sales tax on 22 carat gold usually makes a 99.99% coin cheaper overall. Compare head-to-head in Krugerrand vs American Eagle.

Pros and cons of the Krugerrand

For other first-time options, see our best gold coins for beginners or browse all gold coin guides.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.