How Much Gold Is In A Krugerrand

Key takeaway: A standard one ounce Krugerrand contains exactly one troy ounce, or 31.103 grams, of pure gold. The coin itself weighs more, around 33.93 grams, because it is 22 carat gold alloyed with copper. The extra metal does not change the actual gold inside.

It is one of the most common questions we field at our exchange counter in Illovo, and it matters a great deal when you are selling. People often assume the whole coin is gold, or they confuse the coin’s total weight with its gold content. The two are not the same. Understanding the difference helps you read an offer correctly and walk in knowing roughly what your coin is worth before you ever put it on the scale.

The Krugerrand was first minted in 1967 by the South African Mint and is named after Paul Kruger, the former president of the South African Republic, whose portrait sits on one face. The other face carries the springbok. It was the first modern bullion coin built to put a recognisable, tradable ounce of gold into ordinary hands, and that is still exactly what it is.

The Exact Gold Content of a One Ounce Krugerrand

A full size Krugerrand holds one troy ounce of fine gold. A troy ounce is the standard unit for precious metals and equals 31.103 grams. That figure is fixed. It does not vary from coin to coin, and it is the number that actually drives the value of your coin.

Here is where people get caught out. The coin is made from 22 carat gold, which is 91.67 percent pure. The remaining 8.33 percent is copper, with a small amount of silver. The copper is what gives the Krugerrand its warmer, slightly reddish colour and its hard wearing surface. Because of this alloy, the coin weighs more than one ounce overall, roughly 33.93 grams, but it still contains a full ounce of pure gold. The alloy is added on top of the gold, not mixed into it at the expense of the gold.

So when you hear “one ounce Krugerrand,” that one ounce refers to the pure gold inside, not the total weight of the disc in your hand.

Carat, Purity and Fineness Explained

Three terms get used loosely around Krugerrands, and it helps to keep them straight:

• 22 carat: Carat measures purity out of 24. A 22 carat coin is 22 parts gold to 2 parts other metal.
• 91.67 percent pure: This is the same thing as 22 carat, expressed as a percentage.
• Fineness: Often written as 916 or .9167, this is the decimal version of the same purity.

All three describe one fact. A Krugerrand is not 24 carat, or 999 fine, like some other bullion coins. That lower purity does not mean less gold. The coin is simply built tougher, with copper bulking out the alloy so the gold ounce inside survives decades of handling without scratching or denting easily.

Fractional Krugerrands and Their Gold Content

The Krugerrand is not only made in the one ounce size. The South African Mint also produces smaller fractional coins, and the same 22 carat, 91.67 percent purity applies to all of them. Only the quantity of gold changes:

• One ounce: one full troy ounce of gold (31.103 grams).
• Half ounce: half a troy ounce of gold.
• Quarter ounce: a quarter of a troy ounce of gold.
• One tenth ounce: one tenth of a troy ounce of gold.

If you have inherited a set or bought fractionals over the years, it is worth knowing which sizes you hold. Their value scales with the gold inside them, so a one tenth ounce coin is worth roughly a tenth of what a full ounce coin fetches in gold terms, before any collector factors. We weigh and identify each coin individually when you bring a mixed lot to our Illovo premises.

How the Gold Content Translates Into What You Get Paid

Because every Krugerrand of a given size holds the same fixed amount of gold, the main thing that moves its value is the live gold spot price, which changes throughout each trading day on the international market. When you sell a Krugerrand, you are essentially selling that troy ounce of gold at the rate the market is quoting at the moment of sale.

That is good news for sellers, because it makes pricing transparent. A Krugerrand is not a vague antique with a value plucked from the air. It is a known quantity of gold. At The Gold Avenue we weigh and test your coin, confirm it is genuine, and price it against the live gold price on the day. Condition plays a part too, particularly for fractional or collectable pieces, but the gold content is the foundation of every offer.

This is also why it pays to deal with a buyer who quotes openly against spot rather than a pawnbroker working off a fixed buy price. Across Johannesburg and greater Gauteng, the gap between a transparent gold price offer and a take it or leave it counter can be significant on a coin you may have held for years.

Why People Sell Krugerrands in Johannesburg

Krugerrands are one of the most widely held gold assets in South Africa, so they change hands often. People bring them to us in Sandton for all sorts of reasons. Settling a deceased estate. Splitting an inheritance between siblings. Freeing up cash without taking on debt. Trimming a holding when the gold price is strong. Whatever the reason, the coin’s fixed gold content means you can establish a fair value quickly and sell on the same day.

One practical note. Selling physical Krugerrands can have tax implications, and how those apply depends on your personal circumstances and SARS rules. We are gold and coin specialists, not tax advisers, so for anything to do with your tax position we suggest speaking to a registered tax practitioner. What we handle is the valuation and the payment, cleanly and promptly.

Sell Your Krugerrand at The Gold Avenue

The Gold Avenue is a luxury watch, gold and diamond exchange in Illovo, Sandton, that buys Krugerrands, gold coins, gold and diamond jewellery and luxury watches directly from the public. We built the business as a transparent, five star alternative to the traditional pawn and gold buying trade, and we work an international dealer network, particularly in the UAE, so we can pay local sellers more competitively for their gold.

Our process is straightforward:

1. Get in touch by phone, WhatsApp or online chat.
2. Book a valuation at our Illovo premises.
3. Receive an offer once your coins are weighed and tested, priced on the live gold price and condition.
4. Get paid the same day by cash or EFT.

The Gold Avenue
Illovo Point, 68 Melville Road, Illovo, Sandton, 2196
Phone: 010 109 0080
WhatsApp: 076 393 5429

Frequently Asked Questions

Is a whole Krugerrand made of pure gold?

No. A Krugerrand is 22 carat, or 91.67 percent pure gold, alloyed with copper and a little silver for durability. It still contains a full troy ounce of pure gold in the one ounce size, but the coin as a whole is not 24 carat.

How much does a Krugerrand weigh in total?

A one ounce Krugerrand weighs around 33.93 grams in total. Of that, exactly 31.103 grams, one troy ounce, is pure gold. The rest is the copper and silver alloy.

Why is a Krugerrand not 24 carat?

The copper alloy makes the coin much harder and more resistant to scratching and wear than soft pure gold would be. This lets the coin hold its full ounce of gold while standing up to decades of handling. The gold content is the same as a pure ounce coin, just in a tougher package.

How is my Krugerrand priced when I sell?

We weigh and test the coin to confirm it is genuine, then price it against the live gold spot price on the day, factoring in the coin size and condition. The fixed gold content gives a clear, transparent basis for the offer.

Learn More

At The Gold Avenue, we simplify the process of selling your valuable assets. From luxury watches and Krugerrands to gold, diamond jewellery, and more, we offer fast, safe, and convenient buying services, coupled with an enjoyable experience. We stand by our promise to provide the best price for your items.

Krugerrands: Sell your Krugerrands swiftly and securely.

Gold Jewellery: Turn your gold jewellery into instant cash.

Gold Coins: Get the best price for your gold coins.

Diamonds: Exchange your diamonds for a competitive price.

Watches: Luxury watches like Rolex and others are welcome.

In need of a cash loan? We’ve got you covered.

Selling to The Gold Avenue is simple:

Contact Our Team: Reach out to our team via call, WhatsApp, or online chat. Describe the luxury items you want to sell.

Book an Appointment: Set a valuation appointment at a time convenient to you. Our safe and secure premises are located in Johannesburg.

Get an Offer: Our expert team will provide a quick and fair valuation. We’re committed to long-term relationships, guaranteeing the best price.

Money in Your Bank: We offer immediate payments, directly into your bank account, either through cash or EFT.

Ready to start selling? Book an Appointment