Personal Finance

Was the price of a Krugerrand R27.50 in 1970?

Answer

Wiki User
06/25/2009

I am guessing that you mean the Gold 1 troy ounce Krugerrand. I am also guessing that you mean the US$ price. Because the Rand price would be R27.50. Since the coin was intended to be sold for the price of gold the retail price of the Krugerrand would be the price of gold plus a small premium (Proably 4-5% of the gold price of the coin). Since the price could flucuate on a daily basis the retail price could and would fluctuate. Also, an individual coin dealer might charge more of a premium if they wanted to. This site: http://www.usagold.com/reference/prices/1970.html lists the average selling price for that year. It ranges from $34.94 to $37.44 per troy oz. The Krugerrand was only sold in one troy ounce coins at that time. In 1970 the Rand was worth more than the dollar. The dollar price for gold reflects the higher value of the Rand. If you could have, don't you wish you would have bought a thousand of them. RR