Faq’s Gold Summit

Faq’s Gold Summit

Krugerrands are gold bullion coins with legal tender status.

Krugerrands have been minted in South Africa since 1967. Trademarks and rights belong to the South African Reserve Bank.

Krugerrands are the most popular 1oz gold bullion coin in the world with over 60 million coins sold to date.

The value of a Krugerrands depends primarily on the value of the metal used to make it. If the price of gold increases, the price of gold bullion coins also does. The Rand/Dollar exchange rate also plays a factor.

Krugerrands are not exempt from VAT. They attract VAT at a zero rate.

One troy ounce of gold and it is 91.67% pure gold (22 Karat). Krugerrands are also available as 1/2oz Krugerrands, 1/4oz Krugerrands and 1/10oz Krugerrands. Krugerrands are VAT exempt as they carry legal tender status.

A 1oz Krugerrand is 32.77mm in diameter and 2.84mm thick and weighs 33.93 g.