Help me understand "uncirculated" with respect to Krugerrands...

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#1 Thu, Aug 18, 2011 - 10:44pm
pourty
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Help me understand "uncirculated" with respect to Krugerrands...

I took delivery of a Krugerrand from Bulliondirect that I purchased off of their Nucleo exchange. The specifications for the product state: "Symbol: GCSK100 Weight: 1.00 oz. actual; 0.07 lbs. shipping Condition: Uncirculated..."

The coin I recieved is definitely a Krugerrand, minted in 1978, it's got some discoloration (that can be easily cleaned up), but it also has some dents around the edges that you might see if it got banged around a bit. Nothing huge, but definitely not what I'd consider "Uncirculated". But all my other coins were practically newly minted when I got them, so I'm not used to seeing such things on them.

Is this normal for this type of coin, or should I expect better? I got it for $20 over spot when spot was $1600, so I don't have much to complain about either way, it is an ounce of gold, after all. But just wondering for future purchases and sales...

Edited by: pourty on Nov 8, 2014 - 5:31am
Fri, Aug 19, 2011 - 7:52pm
No1Hunter
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Dark Side of the Moon, WA
Joined: Jun 16, 2011
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Bullion

It's bullion. I don't know of any bullion that actually circulates as currency. It may be damaged bullion but I am sure it is uncirculated.

I have a few uncirculated ATB 5 oz bullion coins that show some wear from just being in the tubes. The same with ASEs and AGEs.

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