16.718 gm = 0.537496oz (troy)
A standard Krugerrand coin contains exactly 1 troy ounce of gold.
A full Krugerrand weighs 33.93g and contains one Troy Ounce of pure gold (31.1g). To make the coin more hardwearing, the gold is alloyed with copper, making it 91.67% pure.
what is value of a south African 1978 fine gold Krugerrand coin
Online coin retailers like APMEX and Monex carry gold Krugerrand. CMI Gold and Silver Inc. also sells gold Krugerrand, but it can only be purchased via telephone order.
Krugerrand
The amount of pure gold in the coin does not equal an ounce, the Actual Gold Weight (AGW) is .48375oz. The total weight of the coin is 16.718grams.
A Krugerrand is a gold coin weighing one troy ounce, which is approximately 31.1 grams. However, the total weight of the coin, including its copper alloy, is about 33.93 grams. The Krugerrand was first minted in 1967 and is primarily used as an investment vehicle.
Krugerrand - South African gold coin
Gold is sold in Troy Ounces - everything else in Avoirdupois ounces
Even if Krugerrand value is closely linked to the value of gold, Krugerrands are worth more as coins, since they are sold with a premium (3% and more) over the gold price. Specially proof Krugerrand coins that have a collector value are worth much more than the gold they are made of. Older bullion Krugerrands may also increase in their collector value.
A gold coin minted in South Africa that typically sells for a higher prices than the market value of the gold it contains.
The standard weight is 33.4 gm for an unworn $20 coin issued from 1849 to 1932.