According to Cookson’s gold website, the price of gold has had a fairly steady month so far, with a high of £24.29 per gram on Wednesday 3rd March and a low of £23.50 per gram on Friday 12th March, bringing the average for the month so far to £23.91 per gram.

The average price of 9 carat scrap gold for the month is £8.65 per gram.  The 14 carat scrap average is £13.50 per gram, the 18 carat scrap average is £17.31 per gram and the 22 carat scrap average is £21.14 per gram.

Taking a look at the prices that gold was sold for on eBay this month so far:

Krugerrands

The South African Krugerrand is a 1 ounce gold bullion coin.

On 20 March 1984 Krugerrand sold for £454 after receiving 15 bids.

Although 20 March 2008 Krugerrand sold for £560 after receiving 20 bids

another Krugerrand from 1979 status be in excellent condition, received by now price of £799.99 and one from 1988 in mint condition was bid up to £755.

Gold sovereign coins

Sovereigns always sell well on eBay, and this month is no exception.  The full gold sovereign weighs a fraction under 8g of 22 carat gold.

The common George V full gold sovereign has been selling for around £180-£200 this month, while the top price received for the full sovereign on 20th of March was an 1887 Victorian sovereign, described as choice uncirculated and sold for £301 after 15 bids.

The cheapest sovereign sold this month, went for £176, and that was the 1979 full sovereign.  You can normally pick up the Victorian sovereign, in quite reasonable condition on eBay for less than £200.

Half sovereigns have been going for around the £85-£90 mark, with a better price being paid for an uncirculated 1910 Edward VII half gold sovereign, which sold for £111 after receiving 14 bids.

Scrap Gold

Scrap gold is another thing that always sells well on eBay with the prices achieved being close to what you would get by taking your scrap gold direct to a dealer.  On 21 March 14 g of nine carat scrap gold sold for £417 which at just over £8.35 per gram is a little below market price.  But when you consider that the buyer had to pay £5.50 for postage the price achieved is very reasonable.

The key to success is understanding that unlike many products.. GOLD is CASH and that in knowing that there is a ready and instant market for your SCRAP GOLD – your CASH FLOW and your ‘PROFITS’ are ‘Protected’.

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.