South Africa Platinum Krugerrand Coin Review (History, Pricing, Comparison)

Disclosure: We are reader-supported. If you purchase from a link on our site, we may earn a commission.  Learn more

South Africa helped shape modern precious-metals investing when the first Krugerrand was introduced in 1967. It became widely recognized because it offered a simple promise investors understood immediately: a globally traded, government-issued bullion coin built for easy buying, recognizing, and reselling.

Get the FREE 2026 Gold & Silver Investment Kit (no fluff, just the basics)

If you’re comparing bullion coins (like the Krugerrand) versus IRA setups, this kit is a solid “start here” resource for beginners.

Download the Free 2026 Kit

Disclosure: If you use this link, we may earn a commission at no extra cost to you.

To mark the Krugerrand’s 50th anniversary, the South African Mint introduced new precious-metals variations in 2017, including a Platinum Krugerrand. Unlike everyday bullion coins minted in massive quantities, the first platinum edition was released as a proof with a limited mintage, which is why it tends to appeal to both platinum investors and collectors.

South African Krugerrand Platinum Coins Background and History

The Krugerrand name combines two pieces of South African identity: Paul Kruger (a former president of the South African Republic) and the country’s currency, the rand. The original gold Krugerrand became a landmark bullion coin because it was designed for investors first, with a practical goal: make physical precious metals easy to buy, recognize, and trade.

Platinum Krugerrand coins first appeared in 2017. That matters because “first-year” issues are often the versions that remain the most talked about over time, especially when the mintage is limited and the coin is sold with official presentation packaging.

If you are researching platinum specifically, it helps to remember that platinum is not just “another version of gold.” It trades in its own market and can be influenced by different forces such as industrial demand, supply concentration, and investor sentiment. If you want to track spot pricing as a baseline, see our live platinum spot price page.

South African Krugerrand Platinum Coins Physical Characteristics

The 2017 Platinum Krugerrand is typically described as a proof coin. Proof coins are struck with extra care to produce sharper details and more visual contrast than standard bullion strikes. In practical terms, that usually means you should expect a higher premium versus “everyday bullion” platinum coins.

Coin Design (Obverse and Reverse)

Obverse (front): The obverse features a portrait of Paul Kruger. Around the portrait, the country name appears in both Afrikaans and English, reflecting South Africa’s bilingual presentation on many official issues.

Reverse (back): The reverse depicts the springbok antelope, a national symbol that also appears on classic Krugerrand designs. You will also see inscriptions for the year and the coin’s platinum weight and fineness.

Specifications

Below are the specs most commonly listed for the 2017 1 oz Platinum Krugerrand (proof). Always confirm details on the exact listing where you buy (dealers can vary in how they display specs):

Important note: proof coins can be more sensitive to handling. If you care about condition and resale options, store the coin the way it was issued and avoid touching the surfaces.

South African Krugerrand Platinum Coins Pricing

The market price of a platinum coin generally starts with spot price, then adds a premium. For the 2017 Platinum Krugerrand, that premium can be meaningfully higher than a typical “plain bullion” platinum coin because you are buying a proof strike and, in many listings, a limited-mintage anniversary issue.

When you’re comparing prices, separate the decision into two questions:

• Do I want platinum exposure? If yes, spot price and spreads matter most.
• Do I also care about proof and collector value? If yes, mintage, condition, and packaging matter a lot more.

A simple “sanity check” is to compare the all-in coin price against the current baseline on our platinum spot price page, then decide if the premium makes sense for your goals.

Can IRA Accounts Contain South African Krugerrand Platinum Coins?

Often, yes, platinum bullion products can be IRA-eligible if they meet IRS rules for precious-metals IRAs and your custodian agrees to accept that exact item.

• Fineness matters: platinum bullion generally needs to meet a minimum fineness standard (commonly discussed as .9995 for platinum bullion). Many listings show the 2017 platinum proof Krugerrand as .9999, which is above that minimum, but always verify the listing and confirm with your custodian.
• Storage rules matter: IRA metals must be held by an approved IRA custodian and stored through an approved depository, not kept at home.
• Collectibles are restricted: proof format can blur the line in how products are marketed. The cleaner path for most retirement savers is bullion that clearly meets the IRS rules, plus a custodian that will accept it without drama.

For a safer, compliance-first approach, start with our guides to IRA-approved platinum and what’s allowed in an IRA. If you are building a broader metals allocation, you can also review IRA eligibility for gold, silver, and palladium.

Also remember: the IRS rules are one thing, and company minimums are another. Some providers set their own minimum purchase sizes, but those are business policies, not IRS requirements. If you want to review how storage works (and what “approved” actually means), see our overview of IRS-approved depositories.

Where to Buy Platinum Krugerrands (Without Overpaying)

Because proof issues can carry larger premiums, it is smart to compare multiple reputable sellers and focus on all-in cost (coin price + shipping + insurance + any buyback spread).

• Spot price: the market reference price of platinum
• Dealer premium: the markup above spot (often larger for proofs)
• Spread: the difference between what you pay and what you could sell it for

If you need help comparing providers on the IRA-company side, start with our gold IRA companies list and work backward from the companies with the clearest pricing and strongest reputations.

FAQ: Platinum Krugerrands (2017 Proof)

Sign up to learn more. It's free!

If you're worried about the economy and want to learn tips on how to protect your retirement savings, sign up to our monthly newsletter for free. We cover precious metals investing, inflation, currency devaluation, national debt, the Fed’s policy moves, and more. Join now and we’ll send you a free PDF report entitled “5 scams to avoid when investing in bullion gold & silver”.

Disclosure: This content is for informational purposes only and does not constitute financial, tax, or investment advice. Always consult a qualified professional before making decisions about retirement accounts or precious metals.