Krugerrands for Sale – What You Should Know?

Humans have always been fascinated by Gold. The soft yellow metal was first used to make Jewellery and other decorative objects at least 6 000 years ago. However, it quickly gained the status of a symbol of power and wealth. In around 1500 BC, the Precious Metal mined in the Egyptian region of Nubia was first used as a medium for international trade. A little under a thousand years later, the Kingdom of Lydia in Asia Minor became the first country to mint Gold coins as legal tender. Today, Krugerrands are for sale, not to purchase goods but as a medium for investment.

Just as beauty is said to be in the eyes of the beholder, much of this metal’s value lies in people’s perception. However, it also has intrinsic value in the electronics and aerospace industries. It is also used for medical treatments and in dental fillings. Most of the metal used for trading and investment purposes was in the form of kilogramme Bullion bars. However, the South African government introduced plans to make the Precious Metal more accessible to ordinary citizens. 1967 saw the first Krugerrands for sale to residents of the Republic.

Traditionally, the metal’s value is quoted in US dollars per ounce. Accordingly, the commemorative coin was designed to contain precisely one ounce of pure Gold as a 22-carat alloy with Copper. Only Gold supplied by the Rand Refinery is used by the South African Mint to create these iconic coins, which are now available to buyers in most countries and are traded daily. Like all commodities, the metal’s price is subject to fluctuations based on factors affecting supply and demand. However, historical trends show that Krugerrands for sale are markedly less prone to the more extreme volatility frequently seen in other investment markets. Gold has continued to increase in value despite the occasional dip since it was first traded.

That said, when you are ready to cash in your investment, there are a few factors you will need to consider. The metal’s spot price is published twice a day, so it is easy to see whether your coins are worth more than you initially paid. However, you should be aware that any transaction dealing with Krugerrands for sale will be subject to a broker’s fee. It might be wise to approach several brokers and compare their charges before selling. Also, be sure the sum offered before brokerage corresponds to the spot price at the time of your sale and is VAT free. 

Naturally, like sellers, buyers will also need to observe these basic precautions, particularly when purchasing online. We regularly buy all sorts of objects via the internet, based solely on trust in the seller and glossy pictures of the desired goods. However, when venturing online in search of Krugerrands for sale, you should be aware that the market has been invaded by opportunists; scammers with no intention of providing coins in exchange for your credit card details.

Mr K is a member of the SAAND and the Jewellery Council of South Africa and is widely known for its integrity, competitive fees and quality products and services in-store and online. The trusted dealer offers a range of one-tenth-, quarter-, half- and one-ounce Gold and one-ounce Silver Krugerrands for sale.

Disclaimer: The information above was derived from reliable sources and deemed accurate at the time of writing.  However, changes following publication may have affected its accuracy. Such changes may occur without notice and Mr K cannot be held liable for inaccuracies in this article’s content or how a reader may choose to interpret it.