How do I sell my Krugerrands?

You can sell Gold Krugerrand Coins and other precious metal products securely and profitably with Kitco. To track gold coin prices, Kitco's world leading website is a great source for live gold prices and gold market information. Yet not all investors are aware that Kitco allows you sell Gold Krugerrands online.

What is the best way to sell a Krugerrand?

Re: Best way to sell gold krugerrands? As others have said, the key is to deal with a gold/bullion dealer and not a pawn shop or jewelry store. For Krugerrands (in any condition) you should be able to get roughly 98-99% of spot gold price (check on kitco.com).

Can you sell Krugerrands at the bank?

First National Bank (FNB) will be the first bank to sell Krugerrands online, partnering with Rand Refinery so they can be sold on its online share-investing platform. Krugerrands are typically purchased at retail coin outlets.

How do I sell my gold coins in South Africa?

Customers wanting to sell commemorative gold coins or gold coins that are not deemed to be legal tender should approach a coin dealer. Coins, including proof coins, are purchased for their gold content at the prevailing gold price. Customers are paid out in rand.

Can I sell my coins to the bank?

Do Banks Buy Old Coins? For money, consumers can turn in their coins to a bank so that they can be fully valued. In the United States, banks do not charge a fee to their customers when they deposit coins, but many other countries mandate that coins are rolled in packages.

Selling Gold Coins

Are Krugerrands worth more than gold?

These coins are priced above bullion value, although non-proof Krugerrands also have a premium above gold bullion value.

What are gold Krugerrands selling for today?

The current or most recent Monex Gold Krugerrand Bid price is: $1870.

Do Krugerrands increase in value?

Like other forms of gold, Krugerrands do not 'appreciate' each year the same way other stocks and commodities might. But in the long-term, Krugerrands have risen in value significantly. In the past 20 years alone, Krugerrands have appreciated by 50% per annum, compared to gold's 25%.

How do I sell my gold coins?

Instead of selling to a pawn shop or local jewelry store, it's best to sell to a trusted and reliable gold buyer. These vendors offer competitive prices and will buy your gold coins based on their market value.

Which coins can I sell in South Africa?

Do banks buy old coins?

Consumers can turn in their coins for cash at banks, which will give them their full value. Banks do not charge a fee to their customers when they deposit coins, but many require that the coins be rolled in wrappers. Some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee.

What can you do with a Krugerrand?

Krugerrands can be easily converted into cash through FNB Share Investing. We guarantee the buy-back of your coins (if you store them at Rand Refinery Ltd.) at any time. To sell your coins is as easy as buying them.

What is the most expensive Krugerrand?

What is the most expensive Krugerrand? The 50th Anniversary 2017 50 oz Gold Krugerrand. It was recently valued at 2.2 million South African rand, equal to more than $140,000 (USD) at the time of writing. The melt value alone of this coin is an impressive $92,500 based on the current gold price.

How do I sell my Krugerrand in South Africa?

A gold coins dealer is your best bet. The gold coins dealer will buy the coins from you for slightly below their retail price and resell them to his customers at their full value. If you don't want to sell the coins to a coin dealer, the other option is to go to a scrap gold dealer.

How much is a Krugerrand worth in 2021?

The 2021 South Africa 1 oz Silver Krugerrand coin contains 1 troy ounces of silver bullion. The melt value of one 2021 South Africa 1 oz Silver Krugerrand coin is $22.08 based on the current silver spot price.

Is it legal to own Krugerrands?

All Krugerrand coins, even ones minted during the time when international sanctions were fully enforced, are now perfectly legal to own, handle, buy, and sell within the United States.

Is a Krugerrand pure gold?

Krugerrands were designed to be durable. Therefore, they are comprised of an alloy of gold and copper. Because the coins are only 91.67% gold (the remainder, 8.33%, copper) – 22 karats – they are manufactured to weigh a bit more than one ounce total (1 and 1/11 ounces) so that they contain one full troy ounce of gold.

Is a Krugerrand 24k gold?

Krugerrand are just 22 karats or . 9167 fine gold.

Why are Krugerrands different prices?

Krugerrands always have a value based on the price of gold, which may increase or decrease, and they also may have an additional value to coin collectors depending on their rarity and condition.

Where should I sell my coins?