Krugerrands

The Krugerrand is a South African gold coin, first minted in 1967 by the South African Mint. It was one of the first coins made so people could own gold in small, easy-to-trade amounts, and it is still one of the most widely traded gold coins in the world.

The name joins Paul Kruger, the former president shown on the front of the coin, with the rand, South Africa's currency. The back of the coin shows a springbok.

A 1 oz Krugerrand contains one troy ounce (31.10 g) of pure gold. The coin itself weighs 33.93 g because the gold is mixed with copper to make it 22 carat (91.67% gold).

There are four main sizes. The 1 oz coin holds 31.10 g of gold, weighs 33.93 g and is 32.77 mm across. The 1/2 oz holds 15.55 g (16.97 g, 27.07 mm), the 1/4 oz holds 7.78 g (8.48 g, 22.06 mm) and the 1/10 oz holds 3.11 g (3.39 g, 16.55 mm). The smaller sizes have been made since 1980.

The gold is mixed with copper to make a 22 carat coin. The copper makes the coin harder to scratch and dent than pure gold, and gives Krugerrands their warm, orange colour.

Yes, Krugerrands are legal tender in South Africa, but they have no rand value printed on them. What a Krugerrand is worth depends on the gold inside it, and for some coins on how collectable they are.

Most of a Krugerrand's value comes from the gold price in rand, which changes every day. Sellers usually add a small premium on top. Proof coins, rare years, early coins in very good condition and coins in their original box or with a certificate can sell for more than their gold value because collectors want them.

Bullion Krugerrands are made in large numbers and are mostly bought for their gold. Proof Krugerrands are struck with specially polished dies, giving a mirror-like background and frosted design. They are made in smaller numbers, usually come sealed in a capsule with a certificate, and are mostly bought by collectors. When you buy a proof, ask for photos of the capsule and certificate.

Check the weight and size first: a 1 oz Krugerrand weighs 33.93 g and is 32.77 mm across, and fakes are often a little light, heavy or too thick. Look for sharp, even detail on Kruger and the springbok, clean edges and the right colour. A real gold coin is not magnetic. Fakes exist, so pay through escrow so your money is only released once you have checked the coin.

Clear photos of both sides, the year, the size (1 oz, 1/2 oz, 1/4 oz or 1/10 oz), whether it is bullion or proof, and any box, capsule or certificate. If something is missing, use "Ask seller a question" on the listing before you buy.

Every purchase on Thesouthmart is paid through escrow. Your money is held by TradeSafe, an independent escrow provider, and only released to the seller once you confirm the coin arrived as described. If it does not, you can report a problem and the money stays held while it is sorted out.

Create a seller account, then list each coin with clear photos of both sides, the year, the size, whether it is bullion or proof, and any box or certificate. Buyers pay into escrow, so you know the money is there before you send the coin.