My Insights on Whether to Grade a Krugerrand

Lately, I’ve been thinking about whether it’s worth grading a Krugerrand that’s been set in a bezel. Here’s what I’ve discovered that might help you decide. This question hit home when I faced the same situation with my own gold coins. After looking into it, I found that grading isn’t always the best move – sometimes, focusing on the bullion value or other options makes more sense.

Why Grading a Bezel Coin Is Usually a Bad Idea

Here’s the thing: if you send in a coin that’s been mounted in jewelry, it’s almost guaranteed to come back with a ‘details’ grade. That label – often something like ‘Ex Jewelry’ – knocks down its value in the collector market. And paying for grading? That’s money down the drain. These coins are really just bullion at this point, so you might as well enjoy wearing it or sell it for the gold content instead of hoping for a top grade.

• Grading isn’t cheap, and for a bezel coin, you’ll likely only get spot price or less – so it’s hard to justify the cost
• Even after removing the bezel, experts can often spot signs it was mounted, which means you’ll still get that details grade
• Bottom line: once a coin’s been in a bezel, it’s mostly about the gold, not the collectible value

What to Do With Bezel Coins Instead

So you’ve got a bezel-set Krugerrand? I’ve found better options than grading. Start by carefully removing the bezel – I’ve seen coins come out without a scratch. That way, you can sell the coin and the bezel separately.

• Look for markings on the bezel to find out the karat (like 10k, 14k, or 18k gold). Then, weigh it and use an online gold calculator to see what it’s worth
• Sell the coin raw at coin shows or to dealers. You might get more than spot – I heard about one that sold for $3,800, which was a nice surprise
• For the bezel, try local jewelry stores or online classifieds. Pawn shops might lowball you, but you should aim for a fair scrap price – after all, gold is gold
• In that same example, the bezel brought in $185 just based on weight. Every bit counts!

What I’ve Seen in the Market

Krugerrands, especially common dates, usually don’t sell for much over spot unless they’re in perfect, untouched condition. But don’t count out ex-jewelry coins entirely – sometimes, the right buyer will pay over $500 above spot. So even though grading a bezel coin isn’t worth it, you can still do well with the gold and selling the parts. Keep an eye on spot prices and what’s happening in your area – it could turn an okay sale into a great one.

Final Thoughts

So, based on what I’ve learned, I’d say skip grading that bezel-set Krugerrand. Instead, take off the bezel if you can, sell the coin raw, and then sell the bezel for scrap. It’s a straightforward way to get the most from your gold without wasting money on grading. Happy collecting – and whether that gold is in a slab or on your wrist, I hope it brings a little sparkle to your day!