Silver Krugerrand Specifications
Technical details and investor-facing facts for the South African Silver Krugerrand coin.
Technical Specifications
| Purity | .999 fine silver |
| Silver Content | 1.0000 troy ounce (31.1035 grams) |
| Gross Weight | 33.93 grams |
| Diameter | 38.725 mm |
| Thickness | 3.2 mm |
| Face Value | 1 Rand (South Africa) |
| Mint | South African Mint |
| Edge | Reeded |
| IRA Eligible | Yes |
The .999 Purity Standard
At .999 fineness, the Silver Krugerrand contains 99.9% pure silver with minimal alloys.
- •Maximum silver content: Virtually all of the coin's weight is pure silver
- •IRS compliance: Meets the .999 minimum fineness for Precious Metals IRAs
- •Global recognition: Standard purity level matching other major silver bullion coins
- •Simple valuation: Silver content equals one troy ounce, making spot price calculations straightforward
Learn more about Silver Krugerrand coins at Monex Silver Krugerrand
Legal Tender Status
The Silver Krugerrand carries a face value of 1 South African Rand, making it legal tender in South Africa. This government backing provides:
Authenticity Assurance
Produced by the South African Mint with strict quality controls and anti-counterfeiting measures.
Government Guarantee
Weight and purity backed by the South African government.
Market Recognition
The Krugerrand name is recognized worldwide by dealers and investors, supporting liquidity.
IRA Eligibility
Legal tender status is one requirement for Precious Metals IRA inclusion.
IRA Eligibility Considerations
Silver Krugerrand coins qualify for inclusion in a Precious Metals IRA (Self-Directed IRA). Key considerations:
- ✓Meets IRS purity requirement (.999 minimum)
- ✓Produced by the South African Mint (approved national mint)
- ✓Must be held by an IRS-approved custodian and depository
- ✓Cannot be stored at home for IRA purposes
Note: This is general information, not tax or investment advice. Consult a qualified tax professional or IRA custodian for guidance specific to your situation.
Understanding Premium Drivers
Silver Krugerrands trade at a premium above the spot price of silver. Factors that influence premiums include:
Minting Costs
South African Mint production, quality control, and distribution expenses.
Dealer Margins
Wholesale and retail markups that fund dealer operations.
Supply & Demand
South African Mint production capacity versus investor demand for Silver Krugerrands.
Market Conditions
Economic uncertainty, inflation concerns, and safe-haven demand can increase premiums.
Brand Recognition
The Krugerrand name carries 50+ years of bullion heritage, supporting competitive spreads.
View current Silver Krugerrand pricing at Monex Silver Krugerrand Price Charts
Frequently Asked Questions
What is the purity of the Silver Krugerrand?
The Silver Krugerrand is struck in .999 fine silver, meaning it contains 99.9% pure silver. This high purity ensures maximum silver content and meets the IRS minimum requirement for Precious Metals IRA eligibility.
How much silver is in a Silver Krugerrand?
Each 1 oz Silver Krugerrand contains exactly 1.0000 troy ounce (31.1035 grams) of pure silver. The gross weight of 33.93 grams includes the coin's silver content plus a small amount of alloy for durability.
Is the Silver Krugerrand legal tender?
Yes, the Silver Krugerrand carries a face value of 1 South African Rand, making it legal tender in South Africa. Like all bullion coins, its silver content is worth significantly more than its face value. This government backing provides authenticity assurance.
Can I hold Silver Krugerrands in an IRA?
Yes, Silver Krugerrand coins meet IRS requirements for inclusion in a Precious Metals IRA. The .999 purity meets the IRS minimum fineness requirement. You will need a qualified custodian and approved depository to hold IRA-owned coins.
Why do Silver Krugerrands have a premium over spot price?
Premiums reflect South African Mint production costs, dealer margins, and supply/demand dynamics. Premiums account for minting, distribution, the coin's legal tender status, and its recognition as a product from the world's most famous bullion coin family.
When was the Silver Krugerrand introduced?
The Silver Krugerrand was first minted in 2017 to commemorate the 50th anniversary of the Gold Krugerrand. It shares the same iconic design as the original 1967 Gold Krugerrand, featuring Paul Kruger on the obverse and the Springbok antelope on the reverse.
What affects Silver Krugerrand premiums?
Key premium drivers include: South African Mint production capacity, dealer inventory levels, overall demand for physical silver, the Krugerrand's global recognition, and broader precious metals market conditions. During high demand periods, premiums typically increase.
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