What is the value of Kruugerands, and where can I get the best price for them?

[oneshooter]

I want to purchace the 20 acres ajoining my property on the north side. I have some Kruugerands, that date from the mid seventies I want to use to pay for it. The price is $34000 total for the land.

Anybody know where I can sell them for the best price? And since they are 25yrs old can I get a premium for them?

Oneshooter

[elleng]

1. Post in Personal Finance and Investing???

[Art_from_Ark]

2. Krugerrands have no premium, it doesn't matter how "old" they are

One place to look for buying prices is Kitco

https://online.kitco.com/selltokitco/selltokitco_USD.html#bullion

You can also try Only Gold

http://onlygold.com/Coins/WeBuyKrugerrands_FullScreen.asp

[dimbear]

3. Those are good, eBay is reasonably good, your local coin shop is good.

Those Krugerrands are good as gold nowadays.

[Art_from_Ark]

4. I wouldn't try to sell Krugerrands on eBay

There are too many ways to get cheated by unscrupulous buyers. Also, PayPal and eBay fees will eat up a lot of the proceeds.

As for local coin shops, they often won't buy Krugerrands, or will pay less than the going rate. Bullion dealers would probably give the best deal overall, especially for larger amounts.

[MicaelS]

5. Spot buying price of 1oz Krugerrands is around $1,700

There are plenty of local reputable coin shops that buy coins, and also local reputable places that buy gold. I would never sell them on eBay. Too much of a change of getting cheated.

Google "Selling Krugerrands" or "Selling Gold" followed by your zip code.

AFAIK, Krugerrands aren't collectible and carry no premium, they are simply a convenient way of buying gold by the ounce.

Here's an idea of what they're selling for.
[link:http://goldprice.org/gold-prices/1003-Gold-Coins/1003-Krugerrand.htm|
Krugerrand Gold Coins]

[oneshooter]

6. I found a local shop willing to pay me $1700 each for them

so I reckon I will take 21of them in to him tomorrow.

Thanks for the info.

Oneshooter

[Art_from_Ark]

7. That's $29 below spot price

Not such a great deal, but you could do worse, I guess.

[oneshooter]

8. I got a time limit with the sale, I'll take the hit.

Most were aquired in the late 70's to early 90's. Not really a great loss!

[dimbear]

9. Make sure the guy with the land wouldn't rather have the gold instead of fiat. n/t

[oneshooter]

10. Tried that, he wants greenbacks. He is 84yrs old and is selling his land to

people he knows will take care of it, and not subdivide it for McMansions. His kids, and grandkids want to sell the land to developers.

[oneshooter]

11. DONE!!! Land was aleady surveyed and fenced, title was clear

and the only taxes I had to pay was for 2013. Cash IS King.

Now all I have to do is fix a couple of places in the fence. And cross fence a five acre area for horses and mules.

Oneshooter

[dimbear]

13. Congratulations and good luck!

Watch the blisters.

[oneshooter]

14. Going to rain all weekend, will start after things dry out.

[Will Mcpen]

17. Local dealer?

Hello Oneshooter,

Congratulations for your land purchase!

I know that you can find a reputable dealer through the U.S. Mint locator website, but I was wondering how you found your local dealer?

I would never sell them through Ebay. You have to setup an auction, handle the shipment and insurance. IMO to much risk and hassle.

If you, or others are interested in some general information about the Krugerrand or coin valuation you can visit this website.

Good luck,
Will

[Taverner]

12. Cats for Gold!

http://www.catsforgold.com/

[BuroshKozorg]

15. Gold is usually sold at a bit above market price for raw gold.

Gold proof coins are usually worth more than regular gold bullion because investors and collectors are guaranteed a coin without scratches and a limited number of proofs for the given year. Gold proofs are minted in less numbers than their regular bullion coin counterparts. It’s this rarity that can cause proof coins to rapidly increase in value far and above the other regular bullion coins. This is due to the demand investors and collectors have for proof coins.

But to answer your original question, a 1-oz Krugerrand would probably be around 1850, plus whatever fees, insurance, and shipping you need to get it over here. If you can you should try to buy them in bulk, because some dealers will give a small discount.

[oneshooter]

16. They are already here! And have been for over 20years.

I believe the most I paid for one was $300-400. Took most of them as payroll, instead of the currency of the country I was working in.