Buy Krugerrands

Frequently Asked Questions

1. QUESTION:
   Where can I sell and buy Krugerrands in South Afrika at a nominal charge?
   Where can I sell and buy Krugerrands at nominal charges in South Africa ? Gold Coin exchange are robbers, so are most numismatic dealers

   • ANSWER:
     There are a few trustworthy coin dealers but I agree with your statment.

     Try eBay but the charges may be alot when you sell.

     I visit this coin forum full of trusted dealers all over the world I bought from them and was always happy but I never sold anything to them.

     http://forums.collectors.com/

     Check out them for a while and you'll see they deal fairly.

2. QUESTION:
   What is the best way to buy gold coins (Krugerrands etc.) in Europe?
   Best means:
   - low dealer commission,
   - certified source,
   - preferably prices and the like available in the Internet.

   • ANSWER:
     I can't suggest somth9ing that I don't believe in and I am confident will lose money over time.

     If you live in Europe, I'd be looking at shorting the EU, and going long the USD.

     The economy is on a downward trend. Gold will not save it.

3. QUESTION:
   Where can I buy gold? Preferably Krugerrands? ?
   Now that it si clear the world economy is going down the plughole, where can I convert my savings into a solid asset? The polices in place now are going to lead to hyperinflation, and I need something that won't lose it's value.

   • ANSWER:
     Hi Heralda. Smart move I think... ; )

     Try a coin dealership. Silver is also worth considering. You actually pay VAT on silver unlike gold, BUT when gold reaches its ceiling most ordinary folks will go on to buy silver (there isn't enough gold to go around). So silver has a lot of potential to rise at the moment.

     Many old coins are sold on silver or gold content as opposed to simply their rarity. So if you get the right date of (for example) silver sixpence, it will have a known quantity of silver content. Such coins are readily tradable as anyone can look up the silver content.

     Small coins are useful, as you can 'spend' relatively small amounts and carry a number of small coins if needed - good 'money' material.

     Happppppy hyperrrrrrinflaaaaaaaation!

4. QUESTION:
   What are the tax costs and futureselling options if I buy Krugerrand goldcoins in US and bring them to India?
   I'm just thinking of buying gold and assume that gold coins in US are a little cheaper than in India. So, if I buy here, I want to know that I'll still be at profit if I sell them in India in future. Or is it a bad idea altogether and I should consider buying gold in India itself? Thoughts? Guidance? Thanks in advance for yuor help.

   • ANSWER:
     It is not a bad idea, but a very very bad idea. u cant import gold into India without paying duty and if u have to buy in us and pay duty at delhi, the cost to you will be MUCH more than selling price in India. It is a loosing proposition.

5. QUESTION:
   Gold Krugerrand Is now the time to buy or sell?
   All this we buy your gold we hear right now and my friend is off to South Africa this week and his dad asked him to buy a Krugerrand on his behalf. Is this a good time or a bad time?

   • ANSWER:
     The price of gold is about as high as it's ever been. I sold all of mine for about 100% profit. Buying direct is usually best, as you avoid the middleman up charge. Your friend should call all the local dealers for a quote. Also he can shop South Africa shops online as well. Then go to the shop and pick the item up to avoid shipping. Also be sure that he can bring it back to the states.

     If selling, always shop for the best price you can get by calling local coin shops and jewelry stores and asking what they pay for you item in whatever condition you think it's in. Also ask what they pay for scrap per ounce. This will give you a good idea which 3 shops to go to in your area to sell to. Get a price from each one and sell to the highest bidder.

     Never use the mail to places. They are ALL RIPOFFS!

6. QUESTION:
   Where do you buy ounces of gold? Sensibly like? Krugerrands and the like [or what ever- I just want real gold]
   My main concerns are to buy at market price and to cut out any middle-men and of course to buy from a reputable dealer [that goes without saying [we're talking gold]].

   • ANSWER:
     You can get it from a jewelry store or a gold dealer. Also from coin collectors.

7. QUESTION:
   Where can I buy new krugerrand 1/4 oz coins?
   Does anyone know where I can buy new 1/4 oz gold bullion krugerrand coins.

   • ANSWER:
     http://www.blanchardonline.com/blanchard_products/bullion_krugerrand.php?content=18882843662

8. QUESTION:
   krugerrands ,how to buy and sell ??
   is this a good idea ,how do i get the daily rate of gold prices ?? is this a sound investmant??

   • ANSWER:
     Lousy idea. There are other 1 oz. gold coins out there, they don't need to be Krugerrands.

     There are many sources of daily gold prices on the web including Yahoo Finance.

     Incredibly risky. Look at the historical price of gold... If you invested at the last peak in gold (1980) you would have had to wait until last year to just break even...

     All kinds of people tout gold as an inflation hedge and a hedge against currency fluctuations. Probably not for the average investor.

     good luck!

     PS - why is this in renting & real estate?

9. QUESTION:
   where can I buy gold coins in mexico? such as; krugerrands, american eagles, maple leafs, 50 peso pc. etc.?
   none of the online outlets ship to mexico

   • ANSWER:
     The coin dealer in the link below may be able to help.

10. QUESTION:
    Safety deposit box ...and krugerrands?
    I am intersted in investing in gold krugerrands and would like to store them in a sfety deposit box.

    Does anyone know where I can rent a safety deposit box in the U.K.... particularly in the NE of England.

    I have accounts with HSBC and Nationwide do either of these provide deposit boxes?

    Could someone tell me the amount I will have to pay for a safety deposit box if possible.

    Can anyone tell me where the best place or web site to buy krugerrands from, as there are many websites selling them but obviously it is a lot of money that is at risk from dodgy websites and sellers.

    • ANSWER:
      Why restrict yourself to only Kruggerands? Going after just one thing limits you and you may end up paying more than you need to. There are other units of gold bullion that are just as respected: The American Gold Eagle, the Canadian Maple Leaf, the Chinese Panda, the Britannia, and the Australian Nugget all contain one Troy ounce of pure gold. Some have a purity of .917 as opposed to .999 but those coins weigh a few grams more than an ounce.

      These gold coins can also be bought in fractional sizes. Dealers are going to charge you a premium of ten percent or more over 'spot market' prices, unless you buy in large quantities. You can do much better buying from private sellers. I like eBay myself. Once in a while you can get a bargain, when a seller doesn't know exactly what they've got and misdescribes it.

      This is less of an issue with modern bullion coins, but happens moreso with older gold coins. In my opinion, this is the better way to invest in gold. But it takes more work on your part. You have to study up on the various issues. Older gold was not issued in nice round denominations. British sovereigns contain just under a quarter of an ounce of pure gold, but if you shop around, you can buy them for less per gram than you can the modern ounces or fractional units. Many older gold coins have numismatic value in addition to the bullion, and sometimes you can find them being sold for bullion prices (plus the premium), but it takes research to learn what to buy. When gold was around 0 I bought a Turkish coin weighing a bit over an ounce (1.06) for 0, dated in the 1870s and in extra-fine condition (not Mint like modern bullion) and sold it for 00 when gold was 0. This type of investment, though, is not a buy and stash away investment, it's an active buy and sell trade. The point is that bargains can be found if you get an education.

      I can't help you with the safe deposit box deal, as what applies to me in New York may not be the same for you. But I'm confident that a world bak like HSBC has them. It's a safe place to keep your gold, but understand what the rules are regarding access to it before you go that route.

      Study up and good luck.

11. QUESTION:
    Where can Krugerrands be sold, safely and for a fair price?
    Some places like Monex wants the seller to buy something from them when one is trying to sell the coins. I just want to sell.

    • ANSWER:
      You have several options, and I would shop around.

12. QUESTION:
    Since Krugerrand / Canadian Gold Maple Leaf Gold Coins are not sealed is it safer to buy assayed gold bars?
    Also how does one check against receiving counterfeit Krugerrand / Canadian Gold Maple coins? What does assaying mean? Is it a guarantee?

    • ANSWER:
      zrs:

      Not sealed for what purpose? The coins you
      mentioned circulate through dealers and between
      individuals and are accepted as such.

      When gold is assayed, its fineness, or purity is
      being measured, and stamped as authentic by
      the company doing the assaying so as to let
      anyone know the legitimacy of the gold content,
      by weight.

13. QUESTION:
    Any tips on buying Krugerrand?
    Any tips on buying Krugerrand...I called up some local dealers and they sound kind of shady

    how do you know you're getting the real thing?
    is going to local dealers the way to go about it?

    • ANSWER:
      www.monex.com
      www.bulliondirect.com
      www.bullion.nwtmint.com

14. QUESTION:
    How does the Rand/dollar exchange rate affect the price of gold?
    I'm very new to investing but I'd like to start and was looking at buying krugerrands. At the moment though the price of gold is sky-high and may rise or fall... I was just wondering if this has anything to do with the rand/ dollar exchange rate as gold is bought in dollars. And since the 2010 world cup soccer is held in South Africa next year, I'm guessing the rand will become stronger. (Am I wrong?) Should I invest now, or should I rather wait until the rand is stronger?

    • ANSWER:
      I suggest waiting until Rand is stronger

15. QUESTION:
    where can i buy a krugerrand in australia from ?
    http://en.wikipedia.org/wiki/Krugerrand

    • ANSWER:
      Any decent coin dealer.

16. QUESTION:
    Price for Gold Coins over the Price per Ounce of Gold?
    OK, the most common Gold Coin is the one Ounce Krugerrand, right?

    So how much should I pay for a one Ounce Kruggerand over the price of gold?

    And where can you buy Krugerrands at that price?

    • ANSWER:
      I would love to find someone charging /oz premium. Ted, pls send me details.

      Each coin type varies abit, since the actual content of gold varies a bit. It used to be (for years) that dealers bought at spot, sold at 4% over spot. RIght now the honest ones buy at 2-5% over spot, sell at 7-9% over spot.

17. QUESTION:
    What's the Best Gold Coin to buy? Maple Leaf, Krugerrand or British Sovereign?

    • ANSWER:
      The Krugerrand has 1 oz. of pure gold in the form of a gold alloy.The Maple Leaf has 1 oz. of pure gold and doesn't wear as well. Both have the same amount of gold so buy the one that has the lowest premium over the spot price of gold. The Maple Leaf also comes in smaller sizes if you can't afford to buy an oz at a time although the smaller sizes will have a little larger premium. The modern British Sovereign is measured in grains not ounces so be sure you understand exactly how much gold your buying for the price. Generally the Sovereign is less available in the U.S. and has a higher premium than the other two.

18. QUESTION:
    What Gold Coins should I buy?
    Maple Leafs, Krugerrands, or Gold Soveriegns?

    • ANSWER:
      Bullion gold, is bullion gold. Buy the one with the cheapest mark-up. I buy Krugerrands myself.

19. QUESTION:
    Which is a better gold bullion investment: krugerrands or eagles? - why?
    Please don't lecture me on not buying gold. I happen to think that the US govt. will maintain its wild spending and that, as a result, we will either have inflation or a constantly devaluing of the $. In any event it will only be 10% of my portfolio.

    • ANSWER:
      I think that you are wise to get some gold.

      My opinion boils down to this: gold is gold is gold. It doesn't matter what you buy as long as it is genuine, and it is commonly identifiable by those in the trade.

      By this definition, you are fine with either eagles krugerrands. Currently, 'rands are cheaper due to the premium that Americans put on the eagles, but then again, you will get the same premium when you sell, so it's a wash.

      I think that you should get some physical gold, and 10% is a fine target to hit. But then again, you are talking to someone who has 30% in physical metals.

20. QUESTION:
    How come gold is listed at 900 dollars, but 1 oz coins sell for higher?
    Hey,

    I am thinking about buying some gold coins, Krugerrand or American Buffalo. I am looking at prices on ebay, and they are all selling for around 1050. I'm assuming these are all real, because the sellers have such good feedback scores. Would love to hear from anyone with any experience in these matters.

    Thanks,

    • ANSWER:
      If the coins are slabbed and certified by NGC or PCGS, you are guaranteed a genuine coin and an accurate grading. If the coin is sealed in US Mint mylar, you are assured of a genuine coin. The others will carry a slight risk, but you are correct in your assessment of the eBay rating system. The premium prices are for the sellers to make a profit and the costs of slabbing and supply & demand.

21. QUESTION:
    Is Universal Coin & Bullion a reputable company?
    I recently bought some gold in the form of Napoleon III 10 franc coins from Goldline and now realize that I paid way too much in commissions (the "spread"). It is my fault for not doing enough research, and thankfully I didn't invest too much, but I'm now weary of buying more gold/precious metals after getting burned. Does anybody have any experience with Universal Coin of Beaumont, TX? They advertise every month in American Rifleman and are endorsed by the NRA, but I'm not sure that means much. I definitely learned my lesson and will be sticking to bullion and bullion coins which track the price of their respective metal, and remove the guesswork of the numismatic premium that a novice buyer like myself knows little about. (Actually I had called Goldline with the intent of buying Krugerrands but stupidly allowed myself to get talked into the higher commission European coins on the basis of the "government can take your bullion" hard sell). Anyways, if any of you have used Universal and have had good (or bad) experiences with them please let me know if you would recommend using them. Are their prices reasonable? If there is a better, cheaper way to buy physical metals please let me know that as well. Thanks in advance for your help.

    • ANSWER:
      Also be extremely wary of selling gold, silver, jewelry, and coins to the numerous "We Buy Gold" scam houses. They pay 1/5 to 1/6 of the real value of the bullion.

      Amd no, the government can't take of sell your bullion. if you want to invesat in Gold and "ride" the fluctuation in gold prices, then consider buying gold stock. One such fund has stock symbol GLD and trades on the Dow Jones. it has 57 billion in market capital. The price exactly follows the price of gold.

22. QUESTION:
    Why are gold coins covered in plastic, so you can't check if they are real gold?
    I inherited about ,000. I think the government has gone crazy, and I am anticipating an inflation firestorm. I plan on buying ,000 of silver and ,000 of gold coins for my 8 year old daughter's college fund. I was going to buy Krugerrands and Maple Leafs. But everything is coated in plastic. I don't trust people. I intend on buying in ,0000 increments, and then taking it all to another jeweler to make sure it is actually gold or silver, and not lead with gold paint. Why are all the coins in plastic?
    That's what I hate about Yahoo Answers. No one ever answers the question. My question is why is everyone so stupid that they just assume what they are getting is gold. And the answer is none of you know.

    • ANSWER:
      goto tulving or bulliondirect

23. QUESTION:
    krugerrands!?
    is it still a good time to buy kruger rands while the dollar keeps going down further??

    • ANSWER:
      yes

24. QUESTION:
    How to verify gold authenticity?
    I'm about to buy gold coins from a local coin shop in Seattle area. What worries me is that the coins that I'm buying do not come with any certificates or any paper verifying the authenticity. The store I'm buying from has been in business for a long time and thats really all the credibility I have about them.

    So my questions are,

    1) Do gold coins usually come with certificates? (Gold American Eagle, Buffalos, Maple Leafs, Krugerrands, etc...)
    2) Is there any way to verify the authenticity? Should I hire an expert?

    • ANSWER:
      You can get coins that are already verified by trusted coin grading companies. Those coins are called slabbed coins. They look like this http://blog.jtcoins.com/wp-content/uploads/2010/06/20091ozgoldeaglengcms69.jpg. The most trusted coin grading companies are PCGS and the NGC. Since the coin will be graded you won't have to worry about the coin dealer charging the MS 69 price for a MS 67 coin.

25. QUESTION:
    Which gold bullion to buy?
    I would like to buy some gold bullion coins/bars
    It seems Bullion Gold Bar .999+ Pure - CMX (Sealed) (1.000 oz.) is the cheapest whereas the
    S. African Krugerrand Gold Coin (1.000 oz.) cost a little more and the
    Canadian Maple Gold Coin (1.000 oz.) , American Eagle Gold Coin (1.000 oz.) cost even more!

    I believe the intrinsic value of the gold should be all the same between the items... Which is best to get for purely investing purposes. (I don't really care how it looks, just that it would be easy to trade in the future..)
    Thanks!

    • ANSWER:
      It all depends on how much you are looking to invest, but in general I would buy gold bullion and not numismatic coins. Plain coins are called rounds and just have a hallmark on them. If you were talking about buying a handful of coins I'd say get what you like, but if you want to buy significant volume I would just go with bullion for a couple of reasons.

      Bullion is easier to store. If you are buying some coins and putting them in a safe it's not a big deal but if you are buying 100 oz and don't want to worry about storing it yourself. You mention that you plan on trading it. If you plan to be an active trader you will need to have it placed in storage so you can move it quickly. If you go with gold bullion you can opt for unallocated storage which is cheaper.

      I have significant gold and silver holdings. I own bullion, both bars & rounds and I keep most of it in storage so I can trade it. My son took an interest in precious metals so I bought him a silver Buffalo/Indian Head coin as a gift because it "looks cooler"(his words) than rounds but it is a sentimental purchase and not an investment.

26. QUESTION:
    I want to invest in Gold. Was thinking of coins?
    I am located in the UK and was wondering what was the best route for buying gold coins, Krugerrands, Sovereigns, that sort of thing. This will be a long term investment.

    • ANSWER:
      Might I suggest that you place an ad in your local paper offering to buy gold scrap jewelry and coins. You can buy it at 65-70% of spot and do quite well for yourself.

27. QUESTION:
    Is this a good price for 1-oz. Krugerrand gold coin?
    I have the opportunity to buy a 1-oz. Krugerrand gold coin for 4.90. Do you think that this is a fair price? If not, what would be a fair price for this coin?
    Thanks.
    Thanks for responding already.
    Thanks for replying, Cosmo.

    • ANSWER:
      No - I purchase 1 oz Gold Krugerrand coins from my local coin dealer at below melt value (current melt is about 5 per oz)...so I'd say that 0 - 0 would be a fair price (based on melt being 5). I certainly wouldn't pay 4.90 - unless it was say a 1971 proof (mintage of 6000) - you can buy Krugerrand coins all day long at www.apmex.com for a slight premium (currently they are for sale at about .95 over melt on this website) - you should be able to purchase these coins even cheaper than this from a dealer though (and avoid the shipping fee). Keep in mind that unless you purchase a coin that has a limited mintage, the Krugerrand coins are unlikely to increase about melt value in the future - although this might sill be a good return over 3-4 years

28. QUESTION:
    what is a fair price to pay over spot for a gold Krugerrand or eagle coins?
    what is a fair price to pay over spot for a gold Krugerrand or eagle just wonder what the average goin g rate is and anyone know a good place to buy lower to spot i dont want to get burned

    • ANSWER:

29. QUESTION:
    Buying Gold Coins - Sovereigns?
    The London Mint office is selling Gold Sovereigns (they just told me about a Kind Edward V11 (1904) which they want £299 for, in good condition.

    I checked internet and similar coins, albeit different years btw 1901 and 1911, are selling for less than £200, particularly on ebay.

    Please let me know if I am being severely deluded in being interested in these 'sollectibles'. I am doing it as an investment rather than a collector.

    Would I be much better of buying Krugerrand coins when i can afford it?

    Any advice on Royal Mint releases welcome as to their immediate and ultimate value. A gold newbie.

    • ANSWER:
      If you just want to invest in gold then buy new sovereigns, Krugerrands or any other gold coin. Kruger is good but if you cannot afford then buy sovereigns. Best to buy new ones as the are in perfect condition. Of course you can buy older coins like the one you quote. In these there is a premium above their intrinsic value (value of gold content). This premium should always be there, although like any investment the non-intrinsic value is variable according to supply and demand. For example if the 1904 coin is £99 more to buy than a new coin it should also be £99 more when you are selling.
      Contrary to one answer a Kruger is not 1oz pure gold. The coin weighs exactly one ounce and it is 91.67% pure (22K). To calculate the gold value take the current gold price (about 0). Convert to GBP or whatever currency you have (1.6533) multiply by 91.67% or 22/24 and you have the gold value

30. QUESTION:
    How does one go about buying GOLD ?
    I'd like to invest in real GOLD, not gold on "paper" or through some on-line gold-seller. I used to know how it was done, but that was 20-odd years ago (back whenever Krugerrands were available) -- how is it done today??? I appreciated all EDUCATED replies !!! THANK YOU SO MUCH in ADVANCE. Barb

    • ANSWER:
      If you Barb want to buy gold. Is to go to a well know gold and coin dealer in your area. You might want to buy some gold coins or even some bars gold. Take a look at what they have for sale and see what you like.
      I think gold is high now but as long as the American dollar remains week gold will continue an upward trend. In any event it is good to have some real gold in your hands. If you are interested in wearing 96% pure gold I can give you some info on that. Good luck and good investing.

31. QUESTION:
    Why does Bush get a free pass on lying about Iraq and getting 4,000 Americans killed for nothing?
    Not to mention spending us into a hole on Chinese Credit Cards to fight the war---only war in America history with NO increase in taxes---kicking the can down the road for Obama---while Bush ran the printing presses day and night to make phony money. My Dad left me money when he died in 2005. I bought Gold Krugerrands at 5 an ounce. Now worth 00 an ounce. In other words, the Bush Iraq war made the U.S. Dollar worth 1/3 of what it was.

    I am just grateful I had the brains to realize that you CAN'T have a war WITHOUT raising taxes. I knew Bush was destroying the dollar.

    • ANSWER:
      You aint seen nothing yet! Bush is a nothing together with Blair, they will get theirs in due course!

32. QUESTION:
    gold bullion question?
    Why buy a Gold Krugerrand if it is only 22 karat?

    • ANSWER:
      I agree with Mike. When buying gold coins in general, it's better to buy them when the price is low and hold on to them until the price goes up. That happens when the dollar loses value (as is currently the case) or when inflation rises. Remember, most gold investments (including coins) are meant to be held as a hedge against inflation. Gold coins are typically easier and more common to buy and sell than the bars itself. People also buy gold coins to collect and trade as a hobby.

      American Gold Eagles are another option for buying gold coins, but they also has 91.67% gold content.

      Hope this helps!

33. QUESTION:
    Krugerrand or Canadian Gold Maple?
    Hiya. I'm investing a little money in gold. And I want to know what you guys think is the better coin to invest in. The krugerrand being 22 carrat and maple being 24 carrat. It seems that the maple is the better buy, but it is more easily scratched etc. But then extracting gold from a maple is a simple process of melting it down, whereas in a krugerrand the copper needs to be extracted first. So which is trhe better buy and why?

    • ANSWER:
      It is extremely doubtful that anyone is going to want to melt the coins except possibly for industrial use, which currently is a very remote possibility. So the question is one more of marketability and relative value. For some odd reason that I am not cognizant of Canadian gold sells at a slight premium over spot whereas the Krugerrands sell at a slight discount to spot. The difference is about .00 a coin more or less. This difference has been prevelent for many years. It is possibly due to the design of the coins themselves. The Mexican 50 peso gold coin sells at even a steeper discount to spot, about per coin. I guess that is due to its odd weight. I guess if it were I I would opt for the maple leaf due to the perceived greater marketability for which you are paying a very slight premium.

34. QUESTION:
    Why is Americal Eagle costlier than Canadian Maple Leaf?
    Considering the fact that Canadian Maple leaf is 99.9% gold and American Eagle is only 91.6% gold, I'd expect the maple leaf to be costlier.
    I'm trying to find if the maple leaf is lighter than americal eagle - that is whether 1 troy oz is the gold content of the eagle and not the actual coin weight.
    (I know this is the case with South African Krugerrands, but I've never bought american eagle)
    Americal is a typo - I meant American Eagle

    • ANSWER:
      Are you comparing dollar to dollar??

      American dollar = .00

      Canadian dollar = .10969

      So, Canadian dollar is worth more, which is whey it costs more for the American dollar.

35. QUESTION:
    KRUGERRAND 1/2oz 1997?
    I have a 1997 1/2oz Krugerrand that was bought from the South African Cold exchange .

    I am thinking about selling the coin....but came across something interesting . The coin is real and sealed .However on the big or the invoice it dos not have the coin's proof number i.g Coin:667-1500.

    I am worried that this will effect the value of the coin . But do's it really ???

    Thanks
    Yes gold is trading at 1,489.00 per oz and is 8 points down at moment .

    I have allot of gold coins a silver ( My fathers that I will inherit) The Krugerrand is mine. As a student Id like the money to be able to buy a few things I need. But will c what the price is . I have written to the South African Cold Exchange . Interested to see what they say .

    • ANSWER:
      I'm not a coin collector, but I have always read that a gold Krugerrand is worth it's weight in gold. If Gold is 00 an ounce. (It is more then that now) then your coin is at least worth 0. (For this example.)

      But since it is a proof coin it may very well be worth more then the current weight in gold.

      Myself, I would keep it, since it looks like our paper money does not have a good outlook in the future. A lot of people are investing at this time in Gold and Silver.

36. QUESTION:
    How to go about selling a krugerrand?
    I received a krugerrand (a gold coin, weighing about 1 oz) as a gift a while back and would like to sell it for cash. I have never consigned or pawned anything in my life so I don't know where to begin. Will different buyers (i.e., jewelers, coin dealers, etc) low-ball me? Since the price of gold is so high right now, is there a chance that no one will buy it in fear they won't see a return in profit? How do I go about researching a valid coin dealer in my area? What should I look for in a dealer/buyer? Thanks.

    • ANSWER:
      Any coin dealer in your area would be able to take that coin off your hands for you. Some will not give you the correct amount of the coins worth. First of all you need to know what a Krugerrand is.

      While there are a number of gold coins available on the market, the South African Krugerrand is the original one troy ounce gold bullion coin made by a government and valued on the content of its gold, rather than the face value of the coin. Originally minted in 1967 in an effort to help market South African gold to the international market, the Krugerrand stood alone as an accessible investment opportunity for the everyday buyer...it was the first gold coin to contain exactly one troy ounce of gold, and was intended from its inception to provide a way for the private investor to purchase precious metals. Additionally, by producing the coin as legal tender in South Africa, the coin was available for portfolio diversification in the United States, which at the time, banned private ownership of gold bullion, but did allow ownership of foreign coins. While the political turmoil that has plagued South Africa over the past 40 years has had an effect on the liquidity of the coin, with the lifting of apartheid in 1994 the Krugerrand has once again regained its status as one of the leading gold bullion coins traded world-wide.

      The Krugerrand derives its name from combining the names of Paul Kruger, a well-known Boer leader and local hero who went on to become the last president of the Republic of South Africa, and the "rand" -- the monetary unit of South Africa.

      The obverse side of the coin is detailed with a profiled bust of President Paul Kruger and features the name of the country, "South Africa," in the country's two native languages, English and Afrikaans. The reverse side of the coin features the image of a springbok antelope, one of the national symbols of South Africa, originally used on the South African 5-shilling piece. The reverse side also features the year of issue and the fineness of the coin. The South African Krugerrand is a 22-karat coin weighing a total 1.0909 ounces (or 33.930 grams). It is comprised of one troy ounce of pure gold and 2.826 grams of a copper alloy which is used to give the coins higher durability and to make them more resistant to scratching, and gives the coins a unique orange-gold hue.

      The gold Krugerrand has a diameter of 32.6mm, a thickness of 2.74mm, and has a fineness of .9167, or 22 karats.

      Today, the Krugerrand is regarded as one of the worlds' oldest and most recognizable gold bullion coins, carrying with it all of the qualities one could want in a gold investment: liquidity, portability and beauty.

      The Krugerrand is a bullion coin which means its value is base on its metal content plus a small premium above it. They have no historic value so here are the 2 prices these coins fetch as of 12/23/09

      For you to sell the coin back into the market the market price for this coin today is =1 oz Krugerrand (Ship to USA) ,096.30 according to Kitco https://online.kitco.com/selling/index.html. For you to rebuy the same coin from the market it would cost you a minimum of 38.60 through Monex. http://monex.com/liveprices

      The price difference between the buy and sell price is called the spread and its how the dealers make money on these coins. Always try to get as close to the Monex price as possible because that is what it would cost for you to replace this coin in the makret and even then its going to cost more because Monex wont sell just 1 coin at a time. Because people who want one coin only arent able to buy from Monex due to the investment minimums they will pay even more for primiums on these coins. Check Ebay as well for other market pricing. Here is a great example on Ebay http://cgi.ebay.com/Gold-South-African-Krugerrand-1-oz-BU-Random-Year_W0QQitemZ180424939834QQcmdZViewItemQQptZCoins_Bullion?hash=item2a022a193a

      Check the phone book for coin dealers in your ara. If they all want less then the Kitco price I linked you to then dont do it. Heck Id be willing to buy it at the Monex price from you...Even if the price goes up.

37. QUESTION:
    How long will the U.S. Mint keep the American-Buffalo 24 karat Gold Coin sales halted?
    The demand for gold is rising fast because the U.S. economy is tanking. If coin dealers are out of all American Gold coins including American Gold Eagles too, would you buy a Canadian Maple Leaf or a South African Krugerrand? http://www.huffingtonpost.com/2008/09/28/us-mint-suspends-sale-of_n_129960.html
    http://latimesblogs.latimes.com/money_co/2008/08/gold-market-bul.html

    • ANSWER:
      It's not just happening in Gold. Silver bars smaller then 100oz are difficult to find and have a premium be charged on them because of their small size.

      With the US bail out and the European bail out people are switching what they can into precious metals as a hedge against inflation.

38. QUESTION:
    HOW DOES ONE GO ABOUT BUYING gold IN THE u.s.a. ?
    I'd like to invest in real GOLD, not gold on "paper" or through some on-line gold-seller. I used to know how it was done, but that was 20-odd years ago (back whenever Krugerrands were available) -- how is it done today??? I appreciated all EDUCATED replies !!! THANK YOU SO MUCH in ADVANCE. Barb

    • ANSWER:
      I have looked into this site before: http://www.blanchardonline.com/. Basically you just buy ounces of gold and they will send them to you, Then just keep them in a safe place.

39. QUESTION:
    Where do you buy ounces of gold? Sensibly like? Krugerrands and the like [or what ever- I just want real gold]
    My main concerns are to buy at market price [and to find out what that is] and to cut out any middle-men and of course to buy from a reputable dealer [that goes without saying [we're talking gold]].

    • ANSWER:
      If you want to hold physical gold, I recommend Krugerrands or other recognized gold coins. If you ever want to sell them, you don't want some lump that the buyer will have doubts about.

      Gold is about 0US/oz today, but it changes constantly.

      http://www.kitco.com

      Coin shops sometimes deal in "bullion" coins, we're not talking rare coins, you don't want to pay much more than spot price.