What to do with a 1/2 oz krugerrand coin?

[Anonymous]

My mom recently gave me the gold coin I was gifted as a baby in 1982. I know gold is at an all time high and we don’t need the money at the moment. Is keeping the coin the best way to hold onto this investment? Or trade it for something else? And for future knowledge, how does one even trade in a coin like this?

[Anonymous]

What condition is it in? Is it in a holder or just loose? Does it have a grade on it?

[Anonymous]

Anonymous wrote:What condition is it in? Is it in a holder or just loose? Does it have a grade on it?

It’s in like a felt jewelry box. Looks to be uncirculated but has definitely been handled. Basically just like a loose coin. No paperwork or anything with it. Would the grade be a marking on the coin?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What condition is it in? Is it in a holder or just loose? Does it have a grade on it?

It’s in like a felt jewelry box. Looks to be uncirculated but has definitely been handled. Basically just like a loose coin. No paperwork or anything with it. Would the grade be a marking on the coin?

Grading is done through a 3rd party. It’s not on the coin. They put it in a holder and put a number on it (range 1-70). In good condition it can bring more than spot price for gold. If it’s not that rare or nice you probably won’t get much over spot (app. $1600 for 1/2 oz right now.) If you decide to sell it take it to a coin shop not a pawn shop. If you can get a holder for it that’s better than being loose. If you don’t care much find a little velvet bag or something to stick it in. Try to handle it by the edges. If you don’t need the money I’d hold onto it. Just don’t lose it.

[Anonymous]

1/2 oz 22K Krugerrands are currently selling for $1600-1800 if you are buying, and if you are selling, you can expect to get spot price with about a 2% premium for it, so around $1610 + 2% or $1640 for one.

You can get more money selling to an individual rather than a gold/bullion store (2nd best place to sell btw), and much more than most jewelers, coin dealers, etc. Pawn shop is ridiculous to even think about selling at.

[Anonymous]

Thank you! Very helpful info. I’ll plan on just holding onto it for now.

[Anonymous]

Anonymous wrote:1/2 oz 22K Krugerrands are currently selling for $1600-1800 if you are buying, and if you are selling, you can expect to get spot price with about a 2% premium for it, so around $1610 + 2% or $1640 for one.

You can get more money selling to an individual rather than a gold/bullion store (2nd best place to sell btw), and much more than most jewelers, coin dealers, etc. Pawn shop is ridiculous to even think about selling at.

do you know of a good gold/bullion store in the DC area?

[Anonymous]

Anonymous wrote:

Anonymous wrote:1/2 oz 22K Krugerrands are currently selling for $1600-1800 if you are buying, and if you are selling, you can expect to get spot price with about a 2% premium for it, so around $1610 + 2% or $1640 for one.

You can get more money selling to an individual rather than a gold/bullion store (2nd best place to sell btw), and much more than most jewelers, coin dealers, etc. Pawn shop is ridiculous to even think about selling at.

do you know of a good gold/bullion store in the DC area?

Try Bonanza in Wheaton

[Anonymous]

Camo Coins in Vienna, VA is great.

[Anonymous]

Throwing out an alternative: my dad turned one into a really pretty long necklace for my mom, like in the image below. Hers has the same gold rope chain. She always gets tons of compliments.

https://www.bing.com/images/search?view=detailV2&ccid=4rEw7usD&id=4FE737459F5301C9CD665ED37E5FDBBDD95913CA&thid=OIP.4rEw7usDe24ZMrCqes9JHgHaJU&mediaurl=https%3A%2F%2Fth.bing.com%2Fth%2Fid%2FR.e2b130eeeb037b6e1932b0aa7acf491e%3Frik%3DyhNZ2b3bX37TXg%26riu%3Dhttp%253a%252f%252fp1.la-img.com%252f1400%252f42124%252f18394790_2_l.jpg%26ehk%3DGlF20VR%252bJCP3uxg%252fioj8NWqjH78tmnaIP%252fbSesKr9Dk%253d%26risl%3D%26pid%3DImgRaw%26r%3D0&exph=818&expw=650&q=krugerrand+coin+necklace&simid=608040771708279682&FORM=IRPRST&ck=C41D173F593F2F40C51EC79B738485A8&selectedIndex=0&itb=0&cw=721&ch=836&ajaxhist=0&ajaxserp=0

[Anonymous]

https://www.apmex.com/product/63612/14k-gold-screw-top-diamond-cut-coin-bezel-27-millimeter

I like the bezel idea.

[Anonymous]

Hold on to it.

[Anonymous]

Anonymous wrote:Throwing out an alternative: my dad turned one into a really pretty long necklace for my mom, like in the image below. Hers has the same gold rope chain. She always gets tons of compliments.

https://www.bing.com/images/search?view=detailV2&ccid=4rEw7usD&id=4FE737459F5301C9CD665ED37E5FDBBDD95913CA&thid=OIP.4rEw7usDe24ZMrCqes9JHgHaJU&mediaurl=https%3A%2F%2Fth.bing.com%2Fth%2Fid%2FR.e2b130eeeb037b6e1932b0aa7acf491e%3Frik%3DyhNZ2b3bX37TXg%26riu%3Dhttp%253a%252f%252fp1.la-img.com%252f1400%252f42124%252f18394790_2_l.jpg%26ehk%3DGlF20VR%252bJCP3uxg%252fioj8NWqjH78tmnaIP%252fbSesKr9Dk%253d%26risl%3D%26pid%3DImgRaw%26r%3D0&exph=818&expw=650&q=krugerrand+coin+necklace&simid=608040771708279682&FORM=IRPRST&ck=C41D173F593F2F40C51EC79B738485A8&selectedIndex=0&itb=0&cw=721&ch=836&ajaxhist=0&ajaxserp=0

I have no sentimental attachment to the coin and I don’t wear jewelry. Certainly not a $1600 coin.