Gold Krugerrands are one of the most trusted gold bullion coins in the market. But how do they measure up in terms of price and value over time? In this piece, we explore the current price of a 1 oz Gold Krugerrand, its fair market value, and its performance throughout the 21st century. We’ll look at how Krugerrands have appreciated in this period, the trends that influence their value, and what these insights suggest about their potential as a long-term investment. Naturally, the cost of Krugerrands differs from its fair market sale value, as purchasing prices (ASK) are higher than selling prices (BID). Let’s investigate how Krugerrand values have fared this century, offering a measure of historical investment appreciation.
From 2000 to 2007, there was an abundant supply of gold bullion coins for investment, and premiums over bullion were low. This made it an ideal time to buy Krugerrands, which were priced nearly at the cost of bullion. For example, Monex’s year-end ASK prices for Krugerrands averaged just 0.6% over bullion between 2000 and 2007.
Presently, the Monex quoted buying Ask price for a Krugerrand in standard lots is $4,269.00. At the end of 2023, Krugerrands were priced at $2,161.10, compared to $1,905.50 a year prior. While gold Krugerrands might seem more expensive, it’s important to consider that their price is measured against paper currency, which continues to lose value. The trend in Krugerrand costs is clearly upward over the long term, driven by the consistent devaluation of fiat currencies.
The current value of a 1 oz Gold Krugerrand is {KR Bid per coin}, which is the price you would receive if you sold your coin. This price is subject to commission charges and can fluctuate daily, with the change in price from yesterday being {KR change}. These fluctuations create opportunities for investors, and the Krugerrand’s liquidity is one of its significant advantages. With Monex, you have access to a two-way market for both buying and selling Krugerrands, ensuring that you can easily transact at the prevailing price.
Globally, the Krugerrand is one of the most widely traded and recognized gold coins, and it can be exchanged at South Africa’s central bank for the prevailing gold market fixing price. This makes the Krugerrand truly real money, a reliable store of value in contrast to fiat currencies. The US dollar, once backed by gold under the Bretton Woods system, was abandoned in 1971 under Nixon, revealing how fiat currencies are debased over time—something the Krugerrand legal tender coinage is not.
A good investment indeed. Krugerrands have performed well this century, and evidence from political and economic conditions suggests that bullish market conditions are likely to continue. While the past does not predict the future, the historical performance of Krugerrands provides a straightforward and logical argument for their value as a worthwhile investment. The value of Krugerrands is determined by the bid price, which represents the price at which they can be sold. Here, we use Monex bid prices, as Monex is the only known marketplace in America that transparently quotes, provides sizable transactions, and has a longstanding reputation for Krugerrands and other highly liquid gold coins.
Over this century, the value of Krugerrands has appreciated in 18 years and decreased in 6 years. This performance is impressive for a volatile asset, especially considering its position as one of the best inversely correlated assets for a diversified portfolio. There was one year of significant loss, with 2013 down 27.5%, but there were also five years with gains over 20%—2002, 2006, 2007, 2010, and 2020—with gains of 24.2%, 22.6%, 23.5%, 28.8%, and 26.6%, respectively. These figures highlight the potential for both long-term and short-term gains with Krugerrands.
See the table below for a detailed comparison of Krugerrand values by year and how they measure up to bullion bars. As noted in the historical timeline, the rebirth of the Krugerrand in 2009 marked a period of strong demand for gold coinage, with Krugerrand supplies initially dwindling before production resumed at a strong pace. Since then, the value of Krugerrands over bullion has been healthy.
| YEAR | KRUGERRAND BID | ANNUAL +/- | BULLION BID | +/- BULLION |
|---|---|---|---|---|
| 2000 | 266.70 | -7.7% | 267.90 | -1.20 |
| 2001 | 276.10 | 3.5% | 274.70 | 1.40 |
| 2002 | 342.90 | 24.2% | 343.90 | -1.00 |
| 2003 | 410.70 | 19.8% | 410.10 | 0.60 |
| 2004 | 431.40 | 5.0% | 431.80 | -0.40 |
| 2005 | 509.10 | 18.0% | 510.20 | -1.10 |
| 2006 | 624.30 | 22.6% | 625.50 | -1.20 |
| 2007 | 826.90 | 32.5% | 820.50 | 6.40 |
| 2008 | 890.90 | 7.7% | 865.70 | 25.20 |
| 2009 | 1,108.50 | 24.4% | 1,079.00 | 29.50 |
| 2010 | 1,428.00 | 28.8% | 1,399.70 | 28.30 |
| 2011 | 1,574.30 | 10.2% | 1,542.50 | 31.80 |
| 2012 | 1,677.30 | 6.5% | 1,648.90 | 28.40 |
| 2013 | 1,215.50 | -27.5% | 1,187.30 | 28.20 |
| 2014 | 1,193.70 | -1.8% | 1,165.60 | 28.10 |
| 2015 | 1,063.10 | -10.9% | 1,045.50 | 17.60 |
| 2016 | 1,152.80 | 8.4% | 1,133.20 | 19.60 |
| 2017 | 1,301.80 | 12.9% | 1,282.80 | 19.00 |
| 2018 | 1,281.30 | -1.6% | 1,262.10 | 19.20 |
| 2019 | 1,502.10 | 17.2% | 1,493.50 | 8.60 |
| 2020 | 1,901.10 | 26.6% | 1,863.80 | 37.30 |
| 2021 | 1,831.10 | -3.7% | 1,783.30 | 47.80 |
| 2022 | 1,839.90 | 0.5% | 1,797.80 | 42.10 |
| 2023 | 2,086.70 | 13.4% | 2,029.80 | 56.90 |
Gold Krugerrands has proven to be a strong investment with an overall track record of appreciation in value. Their performance this century suggests that they continue to be a valuable addition to an investment portfolio. If you’re looking to buy Krugerrands or explore other gold coin investment options, contact Monex for assistance.
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