The value of a 1978 South Africa Krugerrand gold coin is determined by the premium on the coin, the day's current market value of gold and the coin's total gold content. The value of gold changes daily based on market demand and exchange rates, which means that the value of a Krugerrand coin also changes daily.
A Krugerrand coin is a gold coin of South African currency. The coin was introduced in 1967, and as of 2015, it is still being minted. Krugerrand coins, such as those from 1978, had a high gold content and are very popular among collectors and global gold investors. Because these coins are made out of gold, as opposed to other forms of currency, they themselves hold value and are not representative of gold reserves. For this reason, Krugerrand coins are constantly passing hands between gold buyers, sellers and investors, and they are a major player in the global gold market.
The value of a Krugerrand from any era is based off of the coin's premium and the international value of gold. Premiums on the coins are determined by the seller based off of handling, shipping and minting fees. The value of gold changes constantly every single day, which means that the value of a 1978 South Africa Krugerrand coin is most affected by the international gold market.