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Things to Consider when Buying Krugerands

In 1967 the Rand Refinery in South Africa minted and issued a bullion coin known as Krugerands to increase South African Gold marketing. This bullion coin was named after Paul Kruger, the last president of the Republic of South Africa. Since then, this coin is considered an international symbol of prestige and health. In the Republic of South Africa, Krugerand is one of the most sought-after products which contains one troy ounce of 22-carat gold.

 

Although Krugerrands are recognized as legal currency in South Africa, it is hardly used for that purpose. In fact, it has grabbed the attention of many coin collectors in the world and identified as “Medal Coins.” This was the primary coin priced at the current gold rate prices or the monetary value of gold. Over the years, many investors and collectors have coveted these Krugerrands as they are a great addition to any portfolio. 

In this post, we are going to read about things to consider when buying Krugerrands. So, let’s get started. 

Krugerrands for sale

When looking for Krugerrands for sale, you can find a variety of weights, including one-tenth ounce, half-ounce, and quarter-ounce. Coin collectors and dealers often buy Krugerrands through estate sales. Krugerrands price will be decided on the current market rate of the gold on that specific day. 

If you want to buy gold Krugerrands as an investment, make sure that the coins are made of 22-carat gold, which is a high-grade quality. However, if you buy a 24-carat gold, it is too soft to be minted. Avoid comparing the gold prices for 14, 18, and 12 carat gold with the market value of the 22-carat Krugerand. Remember, all carats are not created equally. 

To buy Krugerands, you should consult a consultant to investigate the current gold price, coin’s carat weight, and authenticity of the coin. 

Why Investor Buy Krugerands?

Krugerands is a popular investment for gold investors. It is easy to store and seems appealing to private and professional investors who want to diversify their portfolio or make a direct investment in gold bullion. The reason investors buy gold is due to the proven longevity of its value. Many gold investors consider it a safe investment option that will retain its value for years to come. When looking to buy Krugerands, make sure you should have a secure place to store them. You should be aware of scammers and look for a reliable gold dealer who is well-aware of the state’s tax laws that could include a sales tax on gold. 

Conclusion

Apart from being valuable, Krugerands are highly collectible and attractive. The only challenging aspect of buying gold Krugerands is the precise understanding where you will get the right deal to make purchases. If you are looking to buy or sell Krugerands and want to know their real value then chat to us!