Sell Krugerrand Coins to the Best Coin Buyer in Las Vegas & Henderson, NV
The Krugerrand is a South African coin minted and produced by Rand Refinery on July 3, 1976.
The term “Krugerrand” derives from Paul Kruger’s name, a former political personality in South Africa, and “rand,” their currency unit. These are gold coins minted in 1967 in South Africa as a response to the world’s diminishing interest in gold due to the illegalization of owning gold bars.
These coins were supposed to reawaken the marketability of gold coins that made gold ownership legal. Aside from economic purposes, Krugerrand coins were also minted to catch the attention of collectors and investors. Not surprisingly, this became a success due to its aesthetic and marketability value.
In 1980, the Krugerrand had the most accumulated production with 90% of the global gold coin market. It was undeniably the number one choice of a lot of coin investors in terms of buying gold. However, this popularity failed as fast as it sparked because of the raised awareness of investors and importing countries, especially in the USA, about South Africa’s apartheid. Western countries banned these coins as an effort to condemn such racial segregation.
As a result, Kruggerands crashed down with the absence of investors. When the apartheid was abolished, it seemed that it was already too late for most US investors to not immediately learn about this change in the social system of South Africa. The fame of Krugerrands fell into a downward spiral. It is a shame that its glory was short-lived. South Africa used to be the leading producer of gold, but its social hierarchy ideologies became barriers to its progress in the bullion industry. Soon enough, fierce competition ensued for the production of gold bullion coins.
Silver versions of the Krugerrand started to be minted by the Rand Refinery in 2017. It had the same overall design as the gold coin when it was first created and produced. This also became an excellent coin addition for a lot of coin enthusiasts and collectors of Krugerrands. As of today, there are still Krugerrand coins that are sold worldwide for numismatics. As time went by, more types of Kruggerands were minted and became available. The very first minted coin in the Krugerrand line is the 1967 gold bullion coin. The market expanded and is now selling Krugerrands of varying prices according to the date it was produced, its ounce, value (primary or secondary), individual or boxed set, and even some commemorative Krugerrand coins marking its 50th anniversary.
Value of Krugerrand
Since the Krugerrand comes in two versions, gold and silver, prices also vary. The metal content for each version determines the value of the Krugerrand coin. First is the gold Krugerrand. These gold coins contains from 22-karat gold with a fineness of 0.9167 pure gold. The one troy ounce of fine gold, or 31.103 grams, adds to the coin’s gross weight, which is slightly over a troy ounce at 1.0909 ozs or 33.93 grams.
Gold Krugerrands have no face value. However, they are considered legal tender by the South African Reserve Bank Act (SARBA), which means that they can be used to pay taxes or as a monetary commodity. The price of gold Krugerrands is based on its gold content or fineness, weight measured in troy ounces, and the spot price of gold that changes every day. These are the primary factors that determine the price of Gold Krugerrands. To learn more about gold’s spot price, click on the link below: https://www.kitco.com/charts/livegold.html
On the other hand, the price of a Silver Krugerrand is usually determined using the London Bullion Market Association’s (LBMA) official benchmark for the cost of silver, which is issued and released daily by them. A silver Krugerrand coin strictly contains 99.9 percent silver which is complementary to the purity of the coin. The coins are typically sold in tubes of 25 or a box containing 500 coins per purchase. At present, the Prestige Bullion is the overall agency responsible for producing and distributing the silver Krugerrand coin. They do not sell directly to public members but instead sell through a well-established network of international bullion dealers.
Like the gold Krugerrands, the value of the silver version of this coin is likewise based on its metal content. The spot price of silver becomes a determining factor of the value of the silver coin. It changes regularly and serves as the basis of the coin’s purchase value rather than the face value. Learn more about the spot price of silver Krugerrand here: https://www.kitco.com/charts/livesilver.html
Best Buyer of Krugerrand
Nevada Coin Mart is the best buyer of Krugerrand coins! We buy all sorts of coins in silver, gold, palladium, and platinum versions. We are the largest and the #1 coin buyer in Las Vegas and Henderson, Nevada. Aside from bullion coins, we also accept other precious items like gold jewelry, Navajo jewelry, silverware, and many more. We are the perfect place to go if you think of selling your Krugerrand coins for the cash they deserve.
With an established reputation for years already, we commit to continue providing an excellent selling experience for our clients regarding their precious items. We pride ourselves on winning an award as the Best of Las Vegas recognized by the Las Vegas Journal Review 12 times already. That is why we always make sure that our customers as much as possible get the best service that we owe them. We offer a free quote or in-store evaluation of our client’s items to ensure the fair and actual value of their items.
Using a state-of-the-art x-ray spectrometer, we guarantee that your items are well-evaluated and examined. Our experts will assist you during the selling transaction and give you a comprehensive valuation of your Krugerrand coins and other items. You will surely get the best possible offer at our store! So try this experience first-hand by visiting our store at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103, or call us up at 702-998-4000. We are open 365 times a year, from 9 am to 6 pm.