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Is a 1980 South Africa 1 oz krugerrand just bullion?

zeebobzeebob Posts: 2,825 ✭
in World & Ancient Coins Forum
I have an elderly relative. He had a 1980 krugerrand that he's had for 20 years or something. He asked me to give him spot (about $900 a few days ago) for it, so I gave him $1000 thinking I would make sure to be fair to him. Was I fair? I assume this is just a hunk of gold to be dumped on eBay or something. Is that right or do people collect these and I should send my cousin an additional check?

Thanks,

Bob

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    DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    You were more than fair to him. I believe Krugerrands trade closer to spot than any other bullion.
    Becky
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    BCNumismaticsBCNumismatics Posts: 454
    Bob,
    You've got to remember that the full Krugerrand weighs slightly more than 1 Troy Oz.,as it has a fineness of 22 Carat gold - the same fineness as the Sovereign.

    In some countries,selling bullion medal-coins that are not 24 Carat gold attracts taxes.

    Here in New Zealand,the Krugerrand has to have 12-1/2% G.S.T. imposed for this reason.

    I bought my 2 1/10 Krugerrands for NZ$85 each in around 2000 or 2001,which was when the price of gold was lower than they are today.

    Aidan.
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    thelawnetthelawnet Posts: 107


    << <i>I have an elderly relative. He had a 1980 krugerrand that he's had for 20 years or something. He asked me to give him spot (about $900 a few days ago) for it, so I gave him $1000 thinking I would make sure to be fair to him. Was I fair? I assume this is just a hunk of gold to be dumped on eBay or something. Is that right or do people collect these and I should send my cousin an additional check?

    Thanks,

    Bob >>



    He should send you one.

    They go for only $950 on ebay

    link
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    SaorAlbaSaorAlba Posts: 7,482 ✭✭✭✭✭
    BTW they are still trading at less of a premium than other bullion coins still, but not nearly as much as before - they used to sell for just under the bullion value up until 8-10 years ago.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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    zeebobzeebob Posts: 2,825 ✭
    Perfect. Worth $900 to $950 or so. Now I can rest knowing I didn't do him wrong. I don't mind giving my kin a little extra, Lord knows that they've been good to me as a kid growing up.

    Thanks for the confirmation.
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    bidaskbidask Posts: 13,865 ✭✭✭✭✭
    I got a proof NGC 69 ultra cameo dated 1975 I paid a small premium for.
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




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    BBQnBLUESBBQnBLUES Posts: 1,803 ✭


    << <i>I got a proof NGC 69 ultra cameo dated 1975 I paid a small premium for. >>


    I've been wanting to put together a 1oz set of Proof Krugerrands in a custom Capital holder (6 holes) for awhile.. Wanna sell it ?
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