1oz Gold Krugerrand for Sale on Amazon

Since last year about this time when the price of gold was about GBP 24.29 per gram this year this has increased to GBP 28.32 per gram in March to GBP 28.84 per gram on 13^th April. As you can see gold is still continuing to rise at a very good level and over GBP 4.50 per gram higher this year than last year.

The Scrap gold prices have also continued to rise in line with the actual gold price and for 9 carat scrap gold the current price is £10.49 per gram, 14 carat scrap gold is £16.36 per gram, 18 carat scrap gold is £20.98 and 22 carat scrap gold is £25.63 per gram. This is a good increase from this time last year and if you then compare this to the prices which gold is selling for on eBay this month so far:

The krugerrand is probably the most famous of all the gold bullion coins and will normally come in 1 ounce coins. Historically the Krugerrand has made good money on eBay. As an example last year a 1984 Krugerrand sold for £454 and a 2008 one sold for £560 and two Krugerrands in mint condition dated 1979 and 1988 sold for £799.99 and £755. This year here are the results from some Krugerrand sales on eBay:

A One ounce 1979 Krugerrand sold for £920.01 on 13 Apr 2011. A one ounce 1975 Krugerrand sold for £900 also on the 13 apr 2011. Looking at the results on eBay a One ounce Krugerrand will now sell between £900 and just under the £1,000 for a good example which is a significant increase in the price of Krugerrands from last year.

Another gold coin which is a firm favourite is the Gold Sovereign the full sovereign weighs about 8g and is 22 carat gold these coins are always popular on eBay and a George V was selling for about £180 to £200 last year Victorian sovereigns are more costly depending on condition. This year full Sovereigns are now selling for about £220 to £230 and Victorian ones going for  over £260. This is a big increase in a year with about £60 more being paid for Victorian sovereigns.

Last year the half Sovereign was selling for about £85 to £90 with exceptional uncirculated coins such as a 1910 half gold sovereign selling for £111. This year the half sovereigns are selling for about £110 with good examples and rarer years selling for about £140 and upwards, again this is well up on this time last year and the prices still seem to be not just holding but vastly increasing each year.

Scrap gold is also a very popular commodity on eBay and generally goes for a better price than most places where you can exchange gold for cash. There are lots of these cash for gold firms and shops appearing on the television, internet; even the high street is starting to be full of shops all wanting gold for cash. The increase in the scrap gold price has something to do with this but you will be hard pushed to get as much for your gold from these places as selling it on eBay. Looking at recent results 7 pairs 9ct gold earrings 8gms sold for £85.52 which is about £10.50 per gram and 31.9gms of scrap 9ct gold for £323.23 which again is over £10 per gram which is better than any other place I have seen offering to buy scrap gold.

The History and Price of Krugerrand Gold Coins

The South African gold Krugerrand was named after Paul Kruger the President of Transvaal (the old South Africa) from 1882 until 1900. His portrait remains on the face of all gold Krugerrand coins today. On the back is a springbok, a type of gazelle and a national symbol of South Africa.

First introduced in 1967, the Krugerrand was intended to facilitate the private ownership of gold. The weight of gold contained in the coin are written on it and the quality and country are stamped in both English and Afrikaans.

Each gold Krugerrand contains 1 troy ounce of gold, although the coin is slightly heavier than this as it is 22 Karat gold (pure gold is 24K). The remainder of the weight is copper, which has been added to the pure gold to make it stronger and more wear-resistant.

The Krugerrand was an immediate success with collectors and investors buying gold coins and in its first year 40,000 standard and 10,000 proof coins were struck. It is still the most popular gold coin for investment in the world today.

In the late 19th century, the discovery of gold in an area of South Africa, led to a gold rush and ultimately to the Boer war. At the end of which in 1902 the Transvaal as South Africa was then known reverted back to being part of the British Empire.

The Rand Refinery, where all the gold used for Krugerrand coins starts its journey, began in the early 20th century.  It is now the largest gold refinery in the world, producing not only the gold blanks for Krugerrands, but also gold bullion bars and supplying jewelers.

At a time when Americans were prevented from buying gold bullion, they were still legally able to own foreign coins. As Krugerrands are technically currency and also conveniently have their gold weight stamped on them, they were a means for American citizens to own gold legally. However, trade sanctions imposed against South Africa because of the Apartheid regime meant it was illegal to import Krugerrands until the 1990s.

Now anyone can buy and sell Krugerrand gold coins freely.

But, of course, the rising price of gold still made the ownership of full 1 ounce gold Krugerrands prohibitively expensive for many. So the South African mint introduced a 1/2 oz, a 1/4 oz and a 1/10th oz coin.

All gold coins are popular with investors and collectors alike.  Their appeal lies in their increasing value and the fact that they are easily bought and sold worldwide.  Following on from the success of the Krugerrand, Canada minted their first gold Maple Leaf coins in 1979 and America its American Eagle in 1986.