South African Krugerrand 2024 1oz Gold Bullion Coin
The gold Krugerrand coin has been minted since 1967 by The Rand Refinery in South Africa and is one of the most popular bullion investment coins in the world.
Much like The Sovereign, the 1oz Krugerrand is easily identifiable by its unique .9167 fineness and 22 carat gold colourations. The coin reverse design features the pronking springbok, the national animal of South Africa, whilst the obverse design presents a profile of Paul Kruger, the former President of the South African Republic.
Key Points:
- The gold Krugerrand is 916.7 fineness and contains 1 troy ounce of gold.
- VAT free for non-VAT registered private individuals.
- Individually packaged in a single coin capsule.
- Finished to The South African Mint’s bullion standard.
Please note, these coins are not exempt from Capital Gains Tax.
How are bullion prices calculated?
The 'buy' and 'sell' prices shown on the website represent the market value of raw vaulted metal in an 'unallocated' form. This is the standard way prices are quoted throughout the bullion industry. In order for The Royal Mint to deliver beautifully crafted precious metals products to your address, or to our vault, a number of processes must take place, all of which incur a cost. These processes include transportation, refining, minting, quality checking and merchandising.
The price at which The Royal Mint is able to sell bullion products to consumers is therefore made up of the 'spot price' (the buy price) plus an additional premium. The premium accounts for the costs incurred in manufacturing a particular product and is usually either a percentage of the buy price or a fixed monetary amount. In short, manufactured bullion products always sell at a premium to enable retailers and manufacturers to cover their costs.
Can I spend/pay using my bullion coins?
All UK coins, whether circulating or non-circulating, are authorised as “legal tender” by Royal Proclamation, in accordance with the Coinage Act of 1971.
Legal tender allows UK coins to be accepted for payment of debts in court – but, only circulating legal tender coins are designed to be spent and traded at businesses and banks. The Royal Mint creates commemorative and bullion coin series to celebrate key moments or individuals, and these are treasured for their collectable and aesthetic value, or purchased for investment opportunities. However, these non-circulating, commemorative and bullion coins are limited edition and will not enter general circulation – meaning banks and businesses are not required to accept them.
For more information on legal tender guidelines see: www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines
Specification
South African Krugerrand 2024 1oz Gold Bullion Coin
| Specification | Value |
|---|---|
| Alloy | 916.67 Fine Gold |
| Diameter | 32.77mm |
| Reverse Designer | Coert Steynberg |
| Obverse Designer | Otto Schultz |
| Quality | Bullion |
| Specification | Value |
|---|---|
| Year | 2024 |
| Pure Metal Type | Gold |
| Pure Metal Content | 1 Troy Oz |
| Fineness | 916.7 |
| Packaging | Single Coin Capsule |
