THE SHORT ANSWER
A one-ounce Krugerrand contains one fine ounce, not 0.9167 ounce
The one-ounce Gold Krugerrand is a 22-carat coin with a gross mass of 33.930 grams and exactly one fine troy ounce of gold. Its live melt value is therefore the current gold price per ounce, before any product premium, buyback spread, fees, tax or collector value.
The metal-value anchor.
Gold plus copper alloy.
22-carat composition.
One physical screening input.
LIVE VALUE WORKSHEET
Calculate melt, premium, payout and break-even from one observation
The calculator opens on the official one-ounce Krugerrand preset. It retrieves a source-labelled gold observation and shows its observation time. Premium, purchase price and payout are your scenario inputs; GoldObserve does not present them as dealer quotes.
Price reference
Shows the source and observation time of the metal price used here. Product premiums, dealer quotes and taxes are separate.
- Source
- No provider
- Observed
- Observation time unavailable
- Age
- Checking age…
- Delivery
- No data layer available
Checking the current market reference.
Specification source: Rand Refinery ↗
Measure premium, discount and break-even spot
Enter the purchase price or buyer offer for one coin. Negative premium means the entered price is below calculated melt value.
Compare official fine-gold contents
| Coin | Fine gold | Fineness | Melt value | Source |
|---|
Preset specifications are product references from the named official mints. Verify the exact year, variant and authenticity of the coin before a transaction. One troy ounce equals 31.1034768 grams.
VALUE STACK
Do not collapse melt value, retail ask and cash bid into one price
A same-time wholesale metal reference.
Product premium, tax, delivery and payment cost.
The amount offered for the exact coin now.
Assay, shipping, insurance and other deductions.
A coin advertised at 4% above melt is not automatically a 4% round-trip cost. If the same dealer buys it at 1% below melt, the metal price must rise enough to overcome both sides of the spread plus fixed costs. Compare a written ask and a written bid at the same gold observation and for the same quantity.
OFFICIAL FAMILY
Four familiar bullion sizes preserve the stated fine-gold fraction
| Size | Fine gold | Gross mass | Diameter |
|---|---|---|---|
| 1 oz | 1 oz | 33.93 g | 32.69 mm |
| 1/2 oz | 0.5 oz | 16.965 g | 27 mm |
| 1/4 oz | 0.25 oz | 8.482 g | 22 mm |
| 1/10 oz | 0.1 oz | 3.393 g | 16.5 mm |
The name on a fractional coin refers to fine-gold content. All four are 22-carat alloy coins, so gross mass is higher than the corresponding fine-gold mass. Fractional pieces can reduce the cash needed for one unit and make partial liquidation easier, but they often carry a higher percentage premium per fine ounce.
LEGAL TENDER AND DISTRIBUTION
No printed rand number does not mean no legal-tender status
The SARB describes the Krugerrand as legal tender whose value is linked to the daily gold price. Rand Refinery produces the blanks and the South African Mint strikes the coins. Rand Refinery distributes bullion through approved resellers rather than selling directly to the public, and its dealer material describes pricing from the LBMA gold fix plus a premium.
That production chain does not set your retail price. Dealer inventory, location, order size, payment method and demand affect the premium. For resale, recognition can help liquidity, but condition, verification policy and buyer capacity still matter.
AUTHENTICATION BOUNDARY
Specifications screen a coin; they do not authenticate it
Record the exact series and year, then compare weight and diameter with the correct official specification using calibrated equipment. Inspect design details, edge, colour and provenance under appropriate light. A plausible weight alone can be copied by a counterfeit made from another dense metal, while a genuine worn or damaged coin can depart from a simplistic expectation.
For a valuable or uncertain coin, use an established bullion or numismatic buyer with non-destructive testing and a documented acceptance process. Never file, drill, acid-test or otherwise damage a coin simply to obtain a quick answer.
METHOD AND LIMITS
What this page measures and what it refuses to guess
- Fine-gold content, gross mass and diameter come from South African Mint and SARB material.
- Live melt value uses the calculator's labelled source, currency, unit and observation time.
- Premium and payout fields are user-entered scenarios, not scraped or invented dealer quotes.
- The page does not authenticate, grade or assign a numismatic premium.
- Tax and legal treatment depend on jurisdiction, transaction and owner facts.
PRIMARY SOURCES
South African official and producer records
- South African Mint 2026 Krugerrand range for current mass and diameter specifications.
- South African Reserve Bank Krugerrand series note for history, legal-tender status and series sizes.
- Rand Refinery product information and approved-reseller material for production and wholesale distribution context.
FAQ
Gold Krugerrand questions
How much is a one-ounce Krugerrand worth?
Its metal-value starting point is one fine troy ounce multiplied by a same-time gold price. An executable transaction value also reflects product premium, dealer bid, condition, location, taxes and fees.
Is a Krugerrand pure gold?
It contains pure gold, but the coin is a durable 22-carat alloy: 916.67 parts gold per thousand with copper making up the balance. The one-ounce version still contains one full fine troy ounce of gold.
Why does a one-ounce Krugerrand weigh 33.93 grams?
One troy ounce of fine gold weighs about 31.1035 grams. The additional mass is alloy metal, primarily copper, so the gross coin weighs more than its fine-gold content.
Does a Krugerrand have a face value?
It is South African legal tender, but it does not carry a fixed rand denomination. Its legal-tender value is linked to the value of its gold content.
Can a dealer quote be higher than melt value?
Yes. A recognised bullion product can trade above melt when availability and demand support a premium. Proof, scarce-date or exceptional-condition coins need collector evidence separate from ordinary bullion value.
Will the South African Reserve Bank pay a collector premium?
The SARB describes its public purchase as payment for gold content at the prevailing gold price, converted using the dollar exchange rate. That is a metal-value route, not a numismatic appraisal.