The Krugerrand was unique when it was first issued in 1964 by the Republic of South Africa. It was the first coin valued not for the face amount but for the amount of gold that made up the coin. The original Krugerrand was 1 troy oz., and smaller versions are now available. The gold purity is .917, with the balance being copper. Krugerrands are bought and sold on the gold market, with the price fluctuating daily. There are several options to finding the current value of the coin.
Check the business section in your local newspaper for current gold prices. Gold is valued by the ounce and because the Krugerrand is not pure 24 karat gold the actual gold value is .083 percent less. However, because of the ease of buying and selling Krugerrands the face value may be more. For example, in mid-March of 2011 the price for an ounce of gold was $1,426, but the prices that international dealers were selling Krugerrands ranged from $1,427 to $1,532.
Call a local dealer in gold and other precious metals. Often jewelry stores or coin shops buy gold at the current value or just below. They will be able to give a price for the coin.
Search speciality Internet sites such as golddealer.com, krugerrandprice.org or nwtmint.com. They list the price for both you selling a Krugerrand to them, and the price they will sell one to you.
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