Half Sovereign or Krugerrand 1/2 oz: which is the better buy today?
Half Sovereign holds 3.66 g of fine gold and Krugerrand 1/2 oz 15.55 g: Krugerrand 1/2 oz holds 4.25 times the gold of Half Sovereign. The metal costs the same per gram in both; what differs is how much of the price is the coin rather than the gold — and the small one always carries more of it.
| coin | Half Sovereign | Krugerrand 1/2 oz |
|---|---|---|
| fine gold | 3.66 g | 15.55 g |
| gross weight | 3.99 g | 16.96 g |
| purity | 916.7 ‰ · 22 kt | 916.7 ‰ · 22 kt |
| diameter | 19.3 mm | 27.07 mm |
| thickness | 0.99 mm | 2.21 mm |
| face value | half a pound | no denomination |
| struck | United Kingdom · since 1817 | South Africa · since 1980 |
The prices come from the feed, and the feed has not answered yet.
Half Sovereign — Half the Sovereign in every way but one: the same 22 carat alloy and the same St George, on 3.66 g of gold, and a premium that is not half — a coin costs the same to strike whatever it weighs.
Krugerrand 1/2 oz — The half ounce, struck since 1980: the same red alloy as the full coin at 27 mm, and the first of the sizes where the premium starts to climb.
Both are struck in 916.7 ‰ · 22 kt: the same alloy, the same feel in the hand, and any difference on the scale is a difference in gold.
Both are modern bullion coins, struck for investors — Half Sovereign since 1817, Krugerrand 1/2 oz since 1980 — and priced on their metal and the margins above it.
What decides between them is not the gold, which costs the same per gram in both, but everything charged per coin: striking, distribution, the shop’s margin. Spread over 3.66 g the small coin carries far more of it per gram than the big one does over 15.55 g — which is why Half Sovereign is nearly always the dearer gold, and why it is bought anyway: it sells in smaller pieces, and sells everywhere.