The extraordinary rise of the 2020 VE-Day Krugerrand heralds a new era in South African numismatics.
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In a breathtaking twist of numismatic fate, the 2020 VE-Day 1oz Krugerrand, dubbed the rarest Krugerrand ever minted, has ignited a frenzy among collectors, marking a remarkable chapter in South Africa’s rich coinage legacy.
This illustrious coin made waves during the Confirmation Auction 14 held by Bassani Auction House on Sunday, 22 February 2026, where it fetched an astonishing R314,400, including a 20% commission. This figure denotes a staggering increase of R90,000 in just five months, highlighting the feverish demand for this elusive piece of history.
Landon Coleske, a historian and numismatic expert at Bassani Auction House, affirmed the significance of this auction, stating, “With only 25 known 2020 VE-Day Krugerrands in existence, its scale of rarity has shifted dramatically.” The first time this remarkable coin appeared at Bassani’s Confirmation Auction 5 in September 2025, it commanded an impressive R223,200, far surpassing the gold price prevailing at just under R80,000 per ounce at that time.
This second auction saw substantial interest and raised questions among collectors about the whereabouts of the remaining 23 pieces. Coleske pondered, “Where are the remaining 23 examples? Hidden away in private collections, vaults, and long-term holdings, they represent one of the most elusive modern treasures in South African numismatics." He further described this situation as "true modern-day rarity.”
The genesis of the 2020 VE-Day 1oz Krugerrand was fraught with challenges; initially planned for a mintage of 150 coins, the unprecedented disruptions caused by the Covid-19 pandemic led to only 25 being minted. Dillon Bassani, CEO of Bassani Auction House, explained that this rarity makes it even more coveted than the famed 1997 Sabi Sabi Krugerrand, which previously held the title for rarity with just 72 known proof specimens.
Historically, the 1997 Sabi Sabi Krugerrand has commanded prices that reflect its significance, with recent sales exceeding R400,000. At Bassani’s Confirmation Auction 1 in July 2025, one specimen was offered at an extraordinary R450,000. In contrast, the meteoric rise of the 2020 VE-Day Krugerrand speaks volumes about changing market dynamics and collectors' interests in South Africa
Reflecting on the broader context of Krugerrand collecting, Bassani noted, “Krugerrands were originally produced to track the bullion gold price, yet over time we have seen substantial premiums develop on specific issues.” Issues such as the 1967, 1992, 1997 Sabi Sabi, and now the 2020 VE-Day Krugerrands have evolved into prized collectibles. Moreover, he highlighted that proof Krugerrands and collectible issues are exempt from capital gains tax in South Africa, greatly enhancing their appeal as long-term investments.
The rise in demand for precious metals continues against the backdrop of tantalising price increases. Since the dawn of 2024, gold has risen by an impressive 80% in South African rand, driven by global economic uncertainty and increasing investor appetite. Silver has also surged, observing a remarkable 130% increase, attracting a new generation of collectors and investors, especially among younger people seeking tangible asset ownership.
Bassani Auction House, recognised as a pivotal player in the domain of rare collectibles, has consistently set market standards by curating exceptional coins. Their commitment to connecting collectors with historical pieces has elevated the profile of South African numismatics. The remarkable success of the 2020 VE-Day Krugerrand underscores how rarity, historical significance, and investment potential converge into a captivating narrative.
The growing interest in collectible precious metals draws in both seasoned numismatists and first-time buyers, signifying a generational shift towards valuing physical assets as stable and meaningful investments. Bassani explained that the enthusiasm of younger collectors for silver and gold encapsulates a deeper appreciation for norms around value in relation to heritage.
Ultimately, the 2020 VE-Day Krugerrand is a powerful symbol of South Africa's storied legacy in gold and numismatics. “We are honoured to have introduced this remarkable coin to the market and look forward to continued engagement with collectors who seek the finest examples of heritage, artistry, and scarcity,” Bassani concluded.