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SOUTH AFRICAN KRUGERRAND — JUNE 13, 2003

🪙 91.67% Purity · NOT GST/HST-exempt · RRSP/TFSA: No (below 99.5%)

C$503.07
Premium: C$21.66 (4.5%)

On Friday, June 13, 2003, the South African Krugerrand was priced at C$503.07 in Canadian Dollars. This included the spot price of C$481.41 plus a typical dealer premium of C$21.66 (4.5% over spot). Gold rose C$4.46 (+0.94%) from the previous session.

The Krugerrand was the world's first modern gold bullion coin, introduced by South Africa in 1967. Like the American Eagle, its 91.67% purity means it is NOT GST/HST-exempt in Canada and NOT eligible for registered accounts. However, its historical significance and worldwide recognition make it a sought-after collectible.

In 2003, gold in CAD traded between C$434.03 and C$547.47, with an annual average of C$487.78. This day's price was -1.3% below the yearly average and -12.1% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$481.41
Premium (4.5%)+C$21.66
South African KrugerrandC$503.07
Per GramC$16.17

CANADIAN DEALER PRICES — JUNE 13, 2003

Dealer1 oz Bar (CAD)Premium
KitcoC$546.41C$65.00
Sprott MoneyC$559.41C$78.00
SilverGoldBullC$536.41C$55.00
TD Precious MetalsC$576.41C$95.00
Royal Canadian MintC$591.41C$110.00
Border GoldC$551.41C$70.00

RELATED

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📊 Market Analysis — June 13, 2003

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. The Canadian Dollar (CAD) is strongly correlated with crude oil prices due to Canada's status as a major oil exporter. When oil prices fall, the CAD typically weakens, causing gold priced in CAD to rise even if USD gold is flat. This commodity currency dynamic makes gold an effective diversifier in Canadian portfolios.

❓ Frequently Asked Questions

❓ What is the best size to buy for Canadian investors?

For most Canadian investors, 1oz gold bars or Canadian Gold Maple Leaf coins offer the best balance of premium and liquidity. Larger bars (10oz, kilo) have lower premiums per ounce but can be harder to liquidate in smaller amounts.

❓ Can I hold gold in my RRSP or TFSA?

Gold bars and coins with 99.5%+ purity from approved refiners can be held in a self-directed RRSP or TFSA through a qualified custodian. Storage is handled by approved vault facilities like those operated by the Royal Canadian Mint.

❓ Is this product GST/HST-exempt in Canada?

Under the Excise Tax Act, investment-grade gold bullion with 99.5% or higher purity is exempt from GST/HST across all Canadian provinces. Products below this threshold (e.g., American Eagle at 91.67% gold) are subject to full provincial sales tax.

💡 Canadian Gold Investor Guide

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$503.07
Per GramC$16.17
Per KilogramC$16,174.05
Per Pennyweight (1.555g)C$25.15
Per Tola (11.66g)C$188.65

📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides