Live · timestamped
Krugerrand price today,
A full one-ounce Krugerrand holds exactly one troy ounce of fine gold, so the gold in it is worth R70 001 at 11 Sept 2026, 06:13 SAST. The half is R35 001, the quarter R17 500 and the tenth R7 000. These are melt values, the metal floor, worked from the live rand gold price and timestamped above.
| Coin | Fine gold | Melt value |
|---|---|---|
| 1 oz | 1 ozt | R70 001 |
| 1/2 oz | 0.5 ozt | R35 001 |
| 1/4 oz | 0.25 ozt | R17 500 |
| 1/10 oz | 0.1 ozt | R7 000 |
1 troy ounce = 31.10g fine · R70 001/oz
Why the coin beats its own metal
A Krugerrand is worth more than the gold inside it, and the reason is legal as well as commercial. Under section 34(1)(k) of the South African Reserve Bank Act 90 of 1989 it is an offence to melt down, break up or damage a South African coin without the written approval of the Department of Finance, and the Krugerrand is named in Schedule 2 to that Act. A dealer therefore cannot lawfully treat your coin as scrap; they buy it to resell as a coin. That is why a Krugerrand changes hands near its melt value while scrap jewellery does not. More on this, and on replica coins, in selling a Krugerrand.
Melt value versus the coin price
There are two numbers on every Krugerrand and confusing them is how people get short-changed. The first is the melt value: the pure gold inside the coin, priced at today's rand gold rate. That is the table above, and it is the number a Krugerrand can never trade below for long. The second is the coin price: what a dealer actually charges or pays, which sits a little either side of melt.
When you buy a Krugerrand you pay a premium over spot, usually a few percent for a 1oz coin and proportionally more for the small fractionals, because minting a tenth-ounce coin costs almost as much as a full one. When you sell, you receive melt minus the dealer's margin. The good news for sellers is that Krugerrands are among the most liquid bullion coins in the world, so that margin is thin: a reputable dealer pays close to melt because they can resell the coin as a coin, not scrap.
How much is a Krugerrand worth by size
Every Krugerrand is 22 carat, 91.67% gold alloyed with copper for hardness, which is why a 1oz coin weighs 33.93g gross but contains exactly 31.10g of fine gold. You are always paid on the fine content, never the gross weight. The four standard sizes each hold a clean fraction of an ounce:
- 1oz, one full troy ounce of fine gold, R70 001 in metal today.
- 1/2oz, half an ounce, R35 001.
- 1/4oz, a quarter ounce, R17 500.
- 1/10oz, a tenth of an ounce, R7 000.
Reading a Krugerrand quote
A bank or dealer quote, including the widely searched FNB Krugerrand price, bundles the metal value and a premium into one figure. That is normal. The point of this page is to let you split them: take the quote, subtract the melt figure above for that coin size, and you are looking at the premium in rands. For a 1oz coin a fair buying premium is modest; anything far above it, or a selling offer far below melt, is worth a second opinion. Coins are also faked, so weigh yours (a genuine 1oz Krugerrand is 33.93g) and buy only from established dealers.
The Goldza Project Team
Common questions
Krugerrand value, answered
- How much is a Krugerrand worth today?
- A full 1oz Krugerrand holds exactly one troy ounce of fine gold, so its melt value is R70 001 at 11 Sept 2026, 06:13 SAST. A half is R35 001, a quarter R17 500 and a tenth R7 000. Melt is the metal floor; a dealer sells above it and buys a little below it.
- What is the 1oz Krugerrand price to sell in rands?
- Krugerrands are among the most liquid coins on earth, so a fair scrap-metal margin does not apply the way it does to jewellery. A reputable dealer buying a 1oz Krugerrand pays close to melt, often within a couple of percent, because they can resell it as a coin. Always price the offer against the melt figure on this page.
- Why is a Krugerrand heavier than one ounce?
- A 1oz Krugerrand weighs 33.93g gross but contains exactly 31.10g of fine gold. The extra mass is copper, which is why the coin is 22 carat (91.67% gold) and far more scratch-resistant than a pure 24ct coin. You are paid for the gold content, not the gross weight.
- Does the FNB or bank Krugerrand price match this?
- Bank and dealer prices quote the coin including a buy or sell premium over spot, so they sit above the melt figure here. This page gives you the underlying metal value so you can see the premium for what it is and judge whether a quote is fair.