1/2 oz Krugerrand Gold Coin | Mixed Years

1/2 oz Krugerrand — 22 carat, unchanged since 1967

The Krugerrand was first struck on 3 July 1967. It is 22 carat — 916.7 fine — so a half ounce coin weighs 16.965 g gross while holding 15.552 g of pure gold. The balance is copper, added to harden the coin.

The half ounce size arrived in 1980, together with the quarter and the tenth. These are mixed-year pieces: the design has not changed since 1967, so the only difference from a current coin is the date.

Specifications

Legal tender without a denomination

The South African Mint states plainly that Krugerrands are legal tender but carry no face value. Nothing on the coin says what it is worth; its value is the gold in it. Most bullion coins carry a nominal denomination far below their metal value — the Krugerrand simply does without one.

Obverse and reverse

The obverse carries the bust of Paul Kruger, president of the South African Republic, engraved after a portrait by Otto Schultz.

The reverse shows a prancing springbok by Coert Steynberg, an image first used on the South African five shilling coin of 1947. Neither side has changed since 1967.

Why the copper matters

A half ounce Krugerrand holds exactly the same 15.552 g of pure gold as a half ounce 999.9 coin. What differs is the alloy around it. Copper gives the coin its reddish tone and makes it harder, so it stands up to handling better than a soft four-nines coin. For anyone holding coins physically rather than in a vault, that is a practical difference rather than a cosmetic one.

VAT and UK capital gains tax

HMRC treats a coin minted after 1800 as investment gold if it is at least 900 thousandths fine, is or has been legal tender in its country of origin, and normally sells at no more than 180 per cent of the open market value of its gold (VAT Notice 701/21A). The Krugerrand is 916.7 fine, South African legal tender and sold on the gold price, so it meets all three tests.

Capital gains tax is a separate matter. The UK exemption follows sterling legal tender, so it covers Sovereigns and Britannias but not a South African coin. This is a statement of the published rule, not tax advice — your own position depends on your circumstances.

Questions buyers ask

Does 22 carat mean less gold? No. The coin holds 15.552 g of pure gold. It weighs 16.965 g in total because of the copper alloyed with it.

Why is there no denomination on the coin? Because the South African Mint does not put one there. The Krugerrand is legal tender without a stated face value.

How do I tell a genuine coin? By weight and dimensions. A genuine half ounce Krugerrand weighs 16.965 g and measures up to 27.07 mm across. We check every coin before dispatch.

Is it free of VAT in the UK? It meets the HMRC tests for an investment gold coin. It is not exempt from capital gains tax.

Authenticity checked at GoldInvest24 before dispatch. Other sizes are on the Krugerrand gold coins page. Live quotes on the precious metals prices page.