Krugerrand Forgeries – Identifying Fakes and Market Concerns
While Krugerrand forgeries are rare, some fake versions exist, particularly gold-plated Proof Krugerrands. Learn how to identify genuine coins and avoid counterfeit risks when buying online or from unknown sources.
Are Krugerrands Forged?
When I started this website, I explored the topic of counterfeit Krugerrands. Although occasional rumors of counterfeit Krugerrands exist, there is little substantiated evidence to support them. It is highly unlikely that Bullion Krugerrands would be forged because their gold content closely matches their market value.
If a counterfeiter attempted to create a fake using a different metal, such as lead, and then gold-plated it, the coin would be significantly underweight—around 20 grams instead of the correct 33 grams for a 22-carat Krugerrand. A counterfeit made to match the correct weight would be approximately 70% thicker than a genuine Krugerrand, making detection straightforward.
Krugerrand Forgeries in 2021 and Beyond
Despite the unlikelihood of Bullion Krugerrand forgeries, it is concerning that fake Proof Krugerrands have been sold on platforms like eBay and other auction sites. Misleading items like "1 oz Krugerrand 24ct Gold-Plated Coin" should not be marketed as genuine Krugerrands.
Collectors and investors should exercise caution when purchasing Krugerrands, especially online. Always buy from reputable dealers, verify authenticity through weight and dimensions, and check for certification from recognized grading services like NGC or PCGS.