Information on 1978 Proof Krugerrand.

1978 Proof Krugerrand

1978 marked the highest mintage year for the Bullion Krugerrand, with over 6 million coins produced. However, only 10,000 Proof Krugerrands were minted.

Despite growing international interest, only 7% of all Proof Krugerrands were acquired by collectors outside South Africa. This limited international demand likely contributed to the relatively low mintage of Proof Krugerrands.

From 1978 to 1987, Proof Krugerrand mintages gradually increased as they became more recognized as collectible gold coins worldwide. The introduction of encapsulation by the South African Gold Coin Exchange (SAGCE) further helped the international acceptance of the Proof Krugerrand.

1978 Proof Krugerrand in a SAM Presentation Box

All Proof Krugerrands should be accompanied by an SA Mint box, an SAGCE enclosure, or be certified and slabbed by NGC or another grading company. No Certificate of Origin (COA) was issued for Proof Krugerrands in 1978.

Removing a Proof Krugerrand from its SA Mint box can be difficult. The best method is to gently cup your hand and "slap" the box into your cupped palm. Always handle a Proof Krugerrand with soft cotton gloves to avoid fingerprints or damage.

As collector demand rises, early Proof Krugerrands will become even rarer. Completing a full set will be a significant challenge in the future.

How Much is a 1978 Proof Krugerrand Worth?

Since the value of bullion Krugerrands is closely tied to the gold price, determining an exact value for a 1978 Proof Krugerrand is challenging. However, a reasonable estimate is around 105% of the gold price.

On August 19, 2016, a 1978 PF69 Proof Krugerrand was listed for sale at Apmex for US$2,193, approximately 164%of the gold price. A PF68 was listed for US$1,893, roughly 141% of the gold price.