Should I Grade My Krugerrand? A Collector’s Insightful Journey

I’ve been thinking a lot lately about whether to get my Krugerrand professionally graded. You know the one – it spent years mounted in a jewelry bezel before coming to me. As a collector who’s handled plenty of gold coins, I decided to work through this question step by step and discovered some things that might surprise you.

The Grading Dilemma: Why I Held Back

When I first thought about grading, I remembered that coins from jewelry settings often get hit with “details” grades. Even after removing the bezel, those eagle-eyed graders can spot tiny marks or alterations. With Krugerrands mostly trading near melt value, paying $50 or more for grading felt questionable. I kept asking myself: Would slabbing this common bullion coin actually make it worth more? Probably not enough to justify the cost and hassle.

Freeing My Coin from Its Bezel

I’ll admit – I got curious and decided to pop it out of that bezel myself. Since the screw was already loose, it came out easily without any special tools. What a relief to find the coin underneath looking clean with no scratches or dings! That’s when it hit me – this Krugerrand might have more collector value than I thought. As a bonus, when I weighed the bezel separately, turns out it was 18kt gold – not too shabby!

What Happened at the Coin Show

I took both pieces to my local coin show, not expecting much. To my surprise, a dealer offered me $3,800 for the ungraded Krugerrand – that’s $500 over spot! They liked its condition and didn’t seem bothered by its jewelry past. The bezel fetched another $185 based on scrap weight. This whole experience showed me two things: undamaged ex-jewelry coins can still find eager buyers, and never forget that bezel has real gold value too.

What I’d Suggest for Bezel Coins

• Skip grading: Save your money – coins from bezels often get downgraded anyway. You’re better off selling as bullion or to collectors who appreciate condition.
• Gentle removal: Carefully take the bezel off and check for marks. A clean coin can sell well ungraded at shows or shops.
• Cash in the bezel: Weigh it and test the karat (usually 10k-14k). Online calculators help estimate melt value – jewelry stores or local buyers often pay better than pawn shops.
• Watch the market: Nice Krugerrands can bring premiums, so track gold prices and hit coin events when you’re ready to sell.

In my case, not grading saved cash and taught me more about gold coins than a slab ever would. If you’ve got a similar situation, trust your judgment – sometimes the smartest move is leaving that plastic coffin on the shelf.