Other well-known gold coins include the Canadian Maple Leaf and the American Eagle. In South Africa the Krugerrand is considered legal tender and although the coins don’t bear any currency denomination, they are stamped with the amount of gold that it contains. For this reason, the Krugerrand can be found in four sizes, 1oz, 1/10oz, 1/4 oz and 1/2oz. The coin’s value is based purely on the intrinsic value of the metal that it’s manufactured from, therefore if the price of gold increases or decreases so does the value of the coin. Interestingly, although Krugerrands have been minted since 1967, the importation of the coin into the US was banned in 1984 by Congress, due to South Africa’s infamous Apartheid status. This boycott was subsequently lifted in 1994; the same year that South Africa held its first Democratic elections. While Krugerrands are undoubtedly valuable and hold strong historical significance, they are unfortunately eligible for capital gains tax when sold, which can be as much as 20% in some cases
We buy Krugerrands for the gold value of the day
The first South African Krugerrand gold coin was manufactured in 1967 and was the first gold bullion of its kind in the world. Today, there are more Krugerrands in circulation worldwide than all other gold coins combined, with some estimates putting this number at over 54 million coins.