How Much is a Krugerrand Worth?

1-4-oz-gold-krugerrand-springbok-sideOne of the most common questions we get is "How much is a Krugerrand worth?" The value of a Krugerrand is based upon its gold content plus a premium. Different sizes of Krugerrand fetch different premiums, and price is also affected by such factors such as condition (uncirculated versus circulated) and special preparation, such as proof coins. From its inception in 1967, the 1 oz gold krugerrand was intended as a way to invest in gold. Although slightly heavier than one ounce (due to the copper alloy in the coin), each one contained exactly one ounce of fine gold. Bullion coins, such as the kruger, allow investors of all budgets to buy gold. When the fractal krugerrands (1/2 oz, 1/4 oz, 1/10 oz) were introduced in 1980, they continued with marking the weight on the coin rather than the value. So the majority of a Krugerrand's value comes from the gold bullion content. To determine how much that is, you can check the current gold spot price. You can see the spot price for gold on our gold Krugerrand price page, or simply Google "Gold Spot Price".

Now that you know how much the gold content in your Krugerrand is worth, it's time to determine the premium, and then to decide if you believe the investment is worthwhile. All Krugerrands are sold with an a premium tacked on, which is for shipping, handling and mintage fees. You can read that as pretty much as "seller profit". There's nothing wrong with making a profit, just make sure to be an informed buyer so you know exactly what you are paying for. For example, the premium is higher on the fractal Krugerrands- with the 1/10 oz Krugerrand charging the highest premium proportionately. What that means is that you want to buy the largest Kruger you can afford to minimize the portion of your investment spent on items other than the actual gold content. So if you could afford an ounce of gold, you would look to buy a 1 oz Krugerrand as opposed to two half ounce Krugerrands. The easiest way to figure out what the premium is on a regular circulated Krugerrand would be to check out our current Krugerrand Price page. Here you can see what Krugerrands are selling for on eBay today, and also you can see the price of five or so dealers to make a comparison. When you check the dealer prices, be sure to read the fine print carefully, many of them list a bulk price- or a price you have to multiply by a set percentage to get your final total. Also regardless of whether you buy from a dealer or online, be sure to account for shipping, handling and insurance fees.

If you prefer to do the research yourself manually, you can see what the completed prices are for Krugerrand listings by going to eBay. Once there, you'll need to log in with your account. For some odd reason, eBay does not allow you to view completed listings unless you have an account. If you don't have an account, go ahead and create one, it's free. Enter the size of Krugerrand you are looking for into the search box- for example "1/4 oz Krugerrand" and click search. On the left hand column, about midway down you'll see a "Preferences" box. Inside that box is another labeled "show only". You want to click the box next to "Completed Listings". Once you click the box, the page will reload and you can see the completed listings- they show the price in green and also have a little green box that says "sold". Subtract the spot price from this number and you know the premium. As for checking dealer prices, let your fingers do the walking and call a few.

So now you know how much a krugerrand is worth if it's been circulated- what about uncirculated or a proof Krugerrand? These special Krugerrands are minted to have an additional numismatic value- or a value for collectors on top of the gold value. Both uncirculated and proof krugers have a limited mintage, or number of coins produced. The proofs also have quite a bit of special handling. The Rand Refinery specially polishes the blanks. Then the press operator at the mint hand loads the blanks, which are then double stamped to produce the highest quality impression on the coin. They also have special features to set them apart- for example a frosted finish, as well as more reeds on the edge of the coin. Proofs sets will also usually come with a numbered certificate of authenticity. All of these factors add up to scarcity, and scarcity leads to a higher price. If you're looking to buy a Kruger for collecting, your best bet is to spend some time with a dealer specializing in krugers, and understand not only the current value, but how well it has historically held that value, so that you can get your full investment back if you decide to sell. This is less of a concern with a circulated kruger, since they are a fairly standardized commodity. If you would like to see what the current auctions look like we've included some links for you to look at below. The next time someone asks "How much is a Krugerrand Worth?" you'll know the answer!

Krugerrand Auctions
Buy 1 oz Gold Krugerrand
Buy 1/2 oz Gold Krugerrand
Buy 1/4 oz Gold Krugerrand
Buy 1/10 oz Gold Krugerrand
Buy Proof Gold Krugerrand
Krugerrand Sets and Lots
Krugerrand Tester




Could you pease give me some indication of the value for my coins..
1997 1/4 Uncirculated
1980 1/10 Uncirculated

Thank you


Hi Johan-

Recent closed auction prices on eBay show the 1/4 going for about $390, and the 1/10th going for about $175. The smaller Krugerrands are more expensive due to a higher relative premium (the cost to strike a coin is pretty much fixed regardless of its size, so that fee, plus handling and profit makes larger coins a more attractive investment.)

Email from Yolanda:
“Message: My mom has got 4 Krugerrand Gold Coins that she is considering selling. She would like to know what it is worth and if she wants to sell how does she go about doing so.


Hi Yolanda –
You have a few choices on selling Krugerrands. The easiest, safest, and least profitable is to sell it to a dealer. You simply call a few in your area and ask what they are paying for Krugerrands, and then pick the best one. Most people see the best return on investment by selling on eBay. With some guidance, it’s a simple and relatively low risk transaction, provided you know what to look for (things like what kind of shipping to use to make sure you’re reimbursed if they’re lost in transit.)

Here’s a free article on Selling Krugerrands on eBay. If you need a complete guide that covers Selling Krugerrands on ebay, or to a dealer, tax issues and probate, there’s an inexpensive ebook we recommend here: Selling Krugerrands.

Alan Leader

I have 4 Krugerands, bought in 1975 from Perera in NY, and still in their original sealed packages. One each from 1970, 1971, 1972, and 1974. I have been told that because of their relative age, rarity, and condition, they have varying numismatic value significantly above their gold content. If so, I am ready to sell them. Can you give me an idea of their present value? Thanks in advance!


Hi Alan-

Location of purchase isn’t too important, authenticity and type certainly are. You don’t specify, but I’m going to assume you have 1 oz Gold Krugerrands, instead of the fractals. When you say in the original packaging, are the coins in red boxes with velvet lining and a certificate of authenticity from the mint? Or are they “slabbed” in plastic and graded by one of the coin services? If so you may have proof Krugerrands, and they are indeed worth more than their underlying gold content. When dealing with proof or other collector specific coins, it’s best to go through a dealer, or at least talk to a couple before you sell on eBay.

My Standard Catalog of World Coins show the following mintages:

Year Mintage/Proof
1970 211,000/10,000
1971 550,000/6,000
1972 553,000/6,000
1974 3,203,000/6,000

As you can see proofs are significantly more rare, and that coupled with their special addition handling (like highly polished blanks, double stamping by hand, etc) establishes their premium.

Dorothy Lucejko

I am considering investing quite alot of money in gold krugers. Would you suggest putting all my money into them on just a portion. The other portion would go into the money market at 8.25%. I would invest the gold for the next approx 7 years which is when I would want the money upon retirement. The history of investing in gold looks good, but am I taking too much of a risk to put all my money into this? I am looking at upwards of R200,000.
Thank you in advance for your trouble.


Hello Dorothy-

I’m not a financial advisor, so take this with a grain of salt. Gold has been a solid store of value for millenia, and it’s purchasing power has pretty much stayed the same relative to the expense of goods and services. A small portion of gold could buy you food and clothing in Rome, and today that holds true is the major cities of the world. Typically investors turn to gold in times of economic uncertainty, and the world economy certainly hasn’t been rosy. That being said, I think we’ll see gold over $2,000 per oz before the economy starts to correct, and I own a Krugerrand website, so I’m certainly optimistic about purchasing Krugerrands.

As you approach retirement, you should be much more conservative and conscious of risk. Yes a higher reward would be nice- but losing money which you plan to live off can be catastrophic. As much as I like gold, I would never recommend 100% of your assets be tied up in any commodity or security, particularly your retirement nest egg. What I would do is talk to three financial advisors, and develop a balanced portfolio. That money market rate of return is pretty much unheard of here in the States.

Daniel du Plessis

Could you please send me an email giving me an idea of what a 1987 GRC Proof set is worth.
Thank you


Hi Daniel –

The easiest way to sell a proof Krugerrand is to contact a few local dealers, and ask what they’re paying, and then pick the best one. With proofs in particular, you’ll probably have to take them in to be examined, and you definitely want to get that expert opinion on price, as they command a higher price based on numismatic value, scarcity and additional preparation during minting. You’ll also make the least profit selling to a dealer, as they want to turn a profit on the resale, and paying you less increases their margin. The best return we see is usually by selling on eBay. Here’s a couple of free articles on how to sell (make sure to price according to the proof value as opposed to the other auction prices for circulated Krugerrands):

Selling to a Dealer
Selling Krugerrands on eBay, Part I
Selling Krugerrands on eBay, Part II

Finally if you’d like the full guide on how to sell krugerrands, there’s this inexpensive ebook:
Selling Krugerrands

While it’s not written specifically for proof Krugerrands (check dealer prices in addition to historical proof auction prices!), the same basic concepts should apply. If you’re not happy it, has a 60 day money back guarantee.


hi could you give me the value of my kruger coins 1997 1/10 and 1983


Hi Dimitri-

Provided they’re not proofs (see reply to Alan above), looks like regular circulated 1/10th oz Krugerrands are going for about $200.

tes bun


sometime ago, i read that there are some krugerrands in th 70’s that were melted to mint more krugerrand gold coins which made some rare coins. can you provide more info about the specific year and the prices.

thanks a lot


Hi Tes-

I’ve heard of some foreign gold coins (primarily the 90% or less gold content) being melted because dealers and/or gold reclaimers couldn’t move them. Customers tend to want the more well known (and higher gold content) bullion coins such as Krugerrands, Gold Maple Leafs and Eagles. Generally speaking, a numismatic valued coin will command a higher price than its underlying gold content- and at least the spot price of gold for that content. What that means is once you subtract the melt fee, it’s usually a losing proposition to melt well known and universally accepted coins such as Krugerrands.

Since the South African mint is the only authorized manufacturer (we’ll leave the Rand Refinery out, since the mint gives them the authority to stamp out the Krugerrands), it would have had to have been an official sanction, and I didn’t turn up anything on it. If you have a source, I’d certainly be interested in reading more about it.


hi i’m new to this so i hope my question is not a repeat. i have a 1991 1/10 krugerrand coin. it was a gift 18 yrs ago. how do i know if its a real coin. and how much is its current value? thank you


what does circulated and uncirculated mean? what is a proof coin?


Hi Shamima-

Gold is very dense and difficult (but not impossible) to fake. Fakes are either the right size, but not the right weight, or the right weight, but not the right size. You can test it by comparing the mint specifications against the coin, either manually with calipers and a scale, or by using a Krugerrand Tester. For a 1/10th oz Krugerrand I wouldn’t spend the money on a dedicated tester, however. Here’s a more detailed article on fake Krugerrands. Don’t forget you can also stop by a dealer’s shop and have them check it for you, they’ll usually do this for free in hopes of getting your business.

An uncirculated coin is just a coin fresh from the mint, with no signs of wear. Circulated coins have a bit of wear from use or careless handling- like say a “bag mark” where one coin has rubbed against another. For the most part, Krugerrands are traded for their gold bullion content value, as opposed to collectibility. After all, they were designed from the start to be a medium to trade gold, with the amount of gold stamped right on the coin. A 1/10th Krugerrand is going for about $205 right now.

Proof coins are special, and are designed to be collected, and traded at a higher price. The blanks are highly polished, as well as the dies used to stamp them. They’ll have more ridges on the edge (except in 1967, but that’s a long story), and today they’ll come with a certificate of authenticity. You may also come across some encased in plastic (slabbed), and professionally graded. This additional care and handling, in addition to scarcity, results in higher price.

Patricia Holt

Hi, I have a 1 oz Krugerand dated 1974, it has been set into a beautiful gold mount which hangs from a gold chain.The coin has not been damaged or defaced in any way and I am sure that it could be removed
from the mount easily by an expert. Has the coin been devalued because of this,the combined wieght
of the coin,mount and chain is about 50 grams,it has never been worn and the coin appears to be in mint condition. many thanks.


Hi Patricia-

Mounting a Krugerrand in a bezel is pretty common, and you still see many Krugerrand pendants in circulation today. They tend to sell for the gold bullion content, plus the weight of the gold in bezel. Provided the coin is mounted in a compression (usually secured with a screw) bezel and not physically damaged, there should be no change in value of the Krugerrand. Because Krugerrands are alloyed with copper, they tend to be a bit hardier than their pure gold cousins. I’d take it to a couple of jewelers and get an estimate, and then check out the going rates on eBay.


I have a 1/2 oz 1980, 1/4 oz 1980 krugerrand and a 1 gram credit sussie. We are in financial difficulties and looking to see an esitmate of what I might find to sell them on Ebay. I purchased them as a child in the 80’s. I did look on ebay and only found “mini” this and that, gold plated items, etc.

Thank you,


Hello George-

Take a look at our Krugerrand Price Page.



Thanks for the link, however, I don’t see the fractions for the Krug of 1/2 and 1/4, although I see they do go for just above the spot prices. I would love to get into gold and much more of it but due to finances right now we need to sell this little bit.


Hi George-

If you go to ebay and search for the size coin you are looking for, say 1/4 oz Krugerrand, look in the column on the left for a section labels “Show Only”. Check the Completed Listings, and you should be able to view the sold coins in the size you selected. Be sure to just compare the green listings, those are the ones that sold. The smaller the Krugerrand the higher the premium. Selling Krugerrands has advice on how and where to sell, tax consequences and more.

amos given

im having same krugerrands and i need to sell them then can you guys able to help me sell them and how/thanx


Hi Amos-

Check out Selling Krugerrands


Hi I’m really interested in krugerrands. Could you give me some information about the wholesale prices of 1 oz krugerrands, more precisely the lowest wholesale prices of 1 oz krugerrands
thank you


Didnt know till recently but u can view completed listings by scrolling down and clicking completed listings. On the left side under the other refine search options without being logged ib

Juan Gomez

I will appreciate your opinion about the value of a 1979 proof krugerrand 1 oz. thank you

Dilyan Atanasov

Hi George,
My name is Dilyan Atanasov. I’m from Bulgaria and i want to know what is the lowest wholesale market price for 1 oz krugerrand and where i can get it. I want to know how can i calculate this price every day.
Thank you


I bought 2 (a 1991 and a 1988) 1oz gold Krugerrands in Cape Town back in 2000. The jeweller supplied them in SAM red leather boxes. Is this likely to mean that they a proof coins? If so, are these years valued at a premium due to the low number of proofs minted in those years? I would describe them as very fine condition. I don’t recall the seller telling me that they were proofs and they came without a certificate. I wouldn’t know the difference between a frosted and a polished coin.


@Antonia – there is no wholesale price for Krugerrands.
@Sonny – cool, they changed that, thanks for the update!
@Juan – see the response to Daniel above.
@Dilan – there isn’t a wholesale price. Check the the free market’s latest Krugerrand Price on ebay.
@RP – a leather box does not a proof make. Check out the proof page for pictures and descriptions.

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