Where to buy Krugerrands, in South Africa

What you pay to buy a Krugerrand

Two numbers sit inside every Krugerrand purchase, and telling them apart is how you avoid overpaying. The first is the melt value, the pure gold inside the coin priced at today's rand rate, which is the table above and the floor a Krugerrand rarely trades below for long. The second is the premium, the margin a seller adds for turning that gold into a finished, government-minted coin. When you buy, you pay melt plus that premium.

The premium is usually a few percent on a 1oz coin and proportionally higher on the 1/2, 1/4 and 1/10, because minting a small coin costs almost as much as minting a big one, so the making charge is a larger slice of a smaller amount of gold. We will not print a premium as if it were fixed, because it moves with the seller, the coin and the day. The honest tool is the melt figure itself: take any quote, compare it against the melt for that coin size, and you can see in rands exactly what the premium is. For the live melt on its own, see our Krugerrand price page.

How much is a 1oz Krugerrand, and the smaller sizes

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 always pay on the fine content plus the premium, never on the gross weight. The four standard sizes each hold a clean fraction of an ounce, and this is the melt each one is priced from:

• 1oz, one full troy ounce of fine gold, R68 370 in metal today.
• 1/2oz, half an ounce, R34 185.
• 1/4oz, a quarter ounce, R17 093.
• 1/10oz, a tenth of an ounce, R6 837.

The 1oz coin ran alone from 1967 until the 1/2, 1/4 and 1/10 were introduced in 1980, so the fractionals are the practical way to buy a smaller amount of gold, at a slightly higher premium per ounce. For the full story of the coin, see our Krugerrand history page.

Where to buy Krugerrands in South Africa

There are two main channels, and Goldza ranks neither. The first is an established bullion dealer, a business whose trade is buying and selling coins and bars. The second is a bank, sold to its own customers. Both sell at melt plus a premium, and the premium is where they differ, so the sensible move is to price the same coin in more than one place and compare each quote against the melt above.

Wherever you buy, buy from a licensed, reputable seller. A compliant South African gold trader is registered under the Precious Metals Act and the Second-Hand Goods Act, and for larger trades under FICA, and that registration protects both sides of a deal. Before you hand over money, read how to verify a gold buyer and ask to see the registrations. We rank no seller and run no "best dealer" list, because the moment a price guide starts ranking shops it stops being a price guide.

Buying a Krugerrand through FNB or another bank

FNB is the bank South Africans search for most when buying Krugerrands, which is why it is worth addressing directly. A bank sells the coin at its own price, and that price is the same two parts as everywhere else: the melt value of the gold plus the bank's premium. It is not a special or separate gold price, and it is not the raw melt either; it sits above melt by whatever margin the bank sets.

We do not publish a live FNB or bank Krugerrand price, because it changes with the gold market and with the bank's own margin, and because Goldza quotes no seller's price as gospel. What we give you instead is the number underneath every bank quote. Take the price the bank shows you, subtract the melt figure above for that coin size, and the premium is what is left. If it looks steep, price the same coin at a dealer before you buy.

You pay no VAT on a Krugerrand

A Krugerrand bought as a coin carries no VAT. The supply of a Krugerrand as such is zero-rated under section 11(1)(k) of the VAT Act, so unlike newly made gold jewellery, which carries VAT at the standard 15%, the coin does not add that tax to your purchase. It is one of the reasons a Krugerrand is an efficient way to own physical gold in South Africa: what you pay is melt plus a premium, and no more. The wider VAT treatment of bullion is a developing area in 2026, so treat this as general information, not tax advice, and confirm the current position with SARS or a tax practitioner before a large purchase.

The Goldza desk

General information, not financial or tax advice. The melt figures here are computed live from the rand gold ounce price and are the metal floor a premium sits on top of, not a quoted purchase price. Goldza ranks no seller and runs no "best dealer" list. Confirm any tax position, including VAT on bullion, with SARS or a tax practitioner.