South African Gold Krugerrand: The oldest gold bullion coin in the world, the Gold Krugerrand debuted in 1967 with a 1 oz gold coin. The group operates its services in South Africa, Mauritius, Switzerland and Dubai. However, this gold in the ground in South Africa is finite, and its rate of extraction has continued to diminish. The current spot price of gold in South Africa is R28 115.25/oz. The Rand Refinery in South Africa has recently begun to release silver bullion coins with their silver Krugerrand. Sibanye Gold is a purely South African focused gold mining company which was spun off from Gold Fields in early 2013, and is now itself a major gold producer, having acquired a number of mines since then. 45 New Bridge Road, Singapore 059398 Singapore The coins are a product of the South African Mint, which is a privately owned mint in South Africa that works with the South African Reserve Bank to produce both the circulation coins in the South African rand currency and the South African Gold Krugerrand. The 1 and 2 Rand coins were the first gold bullion coins produced in South Africa. Buy coins issued by the Rand Refinery in South Africa, including the famous gold Krugerrand coin. Gold charts, Gold fixes, Gold performance and ratios. The refinery also produces a range of smaller customisable minted gold bars[18]. For more information about buying and storing bullion with BullionStar in New Zealand, click here. The promotion of physical gold bullion was considered vital to South Africa’s gold industry. JSE gold futures were originally listed on the JSE’s SAFEX platform. The Standard Bank of South Africa, part of the Standard Bank Group and one of the largest banks in South Africa, has traditionally been involved in the South African gold market and was founded in 1862 as the Standard Bank of British South Africa. Tambo International Airport in Johannesburg with gold bars weighing 73.5 kilograms (162 pounds) in their carry-on luggage. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time. ENQUIRE NOW. United States Mint (29) Valcambi (26) Credit Suisse (8) Pamp Suisse (80) Austrian Mint (26) Perth Mint (240) Royal Australian Mint (24) Royal Canadian Mint (51) Royal Mint (66) Sunshine Mint (13) Chinese Mint (196) South African Mint (17) New Zealand Mint (66) Mexican Mint (11) Heraeus … The South African Mint is located in Centurion, Gauteng province near the city of Pretoria. The South African Gold Krugerrand. Read More Most CFO’s Believe an Economic Slowdown is Coming While many …, In this article Magnus Heystek voices his concerns about South Africa’s ever increasing national debt. As of February 2016, NewGold held approximately 930,000 ozs of gold [47]. There are two mints in South Africa: The Rand Refinery and the South African Mint. Many analysts believe that substantial devaluation or collapse of the Dollar is inevitable. Harmony, South Africa’s third largest gold producer, has operations in Papua New guinea as well as South Africa[4]. Historical Note: The history of South Africa is inextricably bound to gold. The ‘Kruger’ in the name ‘Krugerreand’ refers to Paul Kruger, who was president of the South African Republic between 1883 and 1900. South Cape Coins Address: 97D Langeberg Mall, Voorbaai, Mosselbay, South Africa, 6500 Phone number +27 44 695 4256 One of the mint’s most widely recognized products is the South African Gold Krugerrand coin. SA Bullion investment clients who want their gold vaulted in South Africa, acquire their Krugerrands at a premium of 3% to the prevailing metal price. African Bullion gives the South African retail investor the opportunity to purchase and hold physical gold and silver bullion. The public can sell these coins to the SARB at its offices in Pretoria, Johannesburg, Cape Town, Bloemfontein, Durban, East London and Port Elizabeth. Unlike other bullion coins, the Krugerrand was given the status of currency or legal tender. The Beginning of South Africa’s Modern Gold Coin. You can change the usage of cookies in your browser. The usage of cookies and the collection of customer information by BullionStar is guided by our. Some investors believe that silver will outperform gold in the current precious metals bull market. The locally produced Krugerrand has legal tender status in South Africa and is not subject to South African VAT. South Africa, with its prolific Witwatersrand basin, is still the continent's largest gold and platinum group metals (PGMs) producing region, but gold production in South Africa went down in 2011 and there are whispers that the ANC wants to nationalize at least a portion of the country's PGM mines. Once sampled, gold bullion samples are usually about 0.5g in size and are cupelled with enough silver to give a Ag:Au ratio between 2:1 and 4:1. Rand Refinery is authorised by the South African Treasury to exclusively market and supply the bullion Krugerrand coins to authorised coin dealers in South Africa[25], to members of the South African Association of Numismatic Dealers (SAAND)[26], to registered manufacturing jewellers for use in making jewellery, and to coin dealers internationally[27]. But given its stature as one of the world’s iconic gold markets, it’s still assured that South Africa will remain a critical gold market for many years to come. According to some sources it was an Australian named George Harrison who made the find. Customers are paid out in Rand“[36]. | ID - 2451481 The South African Mint Company[21], located just outside Pretoria, in Centurion, has been a wholly owned subsidiary of the South African Reserve Bank (SARB) since 1988. The Krugerrand was the first gold coin issued that was targeted to retail gold investors. With trading offices in Switzerland, London, Dubai and South Africa, we provide our customers with a choice of purchase at his/her preferred destination. The Rand Refinery in South Africa has recently begun to release silver bullion coins with their silver Krugerrand. var ea = 'support@'; This is due mainly to low … These certificates represent ownership of Krugerrands stored in a Brinks SA vault, located in a Guardforce International Transportation Ltd vault facility at O.R. The Austrian Philharmonic 1 ounce silver bullion coin is subject to South African VAT. The South African Mint occupied its present location in Centurion in the year 1992. This explains why the SARB was frequently a seller of large amounts of gold in the London Gold Market (for example in the 1960s) and in Zurich (in the 1970s), and also a seller of gold to institutions such as the International Monetary Fund (IMF) in the late 1960s. The Austrian Philharmonic 1 ounce silver bullion coin has “legal tender status” Silver coins are both easier to sell and authenticate, as the weight, measures, and silver content of each coin is well regulated by the Austrian mint. Contact Direct Bullion Level 1 Devonshire House One Mayfair Place Mayfair London W1J 8AJ Email us info@directbullion.com Call us 0800 055 … Since the time the metal was first discovered in the Transvaal by Alec "Wheelbarrow" Patterson in 1873, the international ebb and flow of gold's fortunes figured directly in the fortunes of South Africa itself. Nowadays, like a lot of other central banks, the SARB also sometimes places some of its gold holdings in interest-earning gold deposits with “approved counterparties”, which most likely means highly-rated international commercial banks and the Bank for International Settlements. Contact Direct Bullion Level 1 Devonshire House One Mayfair Place Mayfair London W1J 8AJ Email us info@directbullion.com Call us 0800 055 7050 Credit: Erik Stein/Pixabay . Others see him as a stubborn leader who … Invest in Gold. South Cape Coins Address: 97D Langeberg Mall, Voorbaai, Mosselbay, South Africa, 6500 Phone number +27 44 695 4256 The bullion Krugerrand coin is a legal tender gold coin that is the only coin worth its weight in gold. As JSE gold futures prices are quoted in ZAR, they take into account the ZAR/USD forward exchange rates. Eligible coins “are purchased for their gold content at the prevailing gold price. SA VAT has been factored into all prices quoted on our website. The two Boer Wars in the late 19th century, between Dutch (Afrikaners) and British settlers, were essentially territorial battles over the … SA Bullion | 551 followers on LinkedIn. Gold Krugerrands as an Investment. Investgold is the largest supplier of Krugerrands in South Africa, including limited editions of gold and silver bullion coins/bars. Through its history, the SA Mint cultivated a worldwide reputation for its high-quality products. Rand Refinery is one of the most famous gold refineries in the world. Cam Group Mines Ltd. is the leading wholesale suppliers and exporter of Gold in South Africa which provides the best collection of products to its clients. These bullion coins all bear the Springbok - the national animal of South Africa. Once sampled, gold bullion samples are usually about 0.5g in size and are cupelled with enough silver to give a Ag:Au ratio between 2:1 and 4:1. Cookies are also used for the purpose of handling our system and services. Krugerrand coins are legal tender in South Africa. Current State of the Physical Bullion Market In South Africa, ‘Shaky Stock Market’ Predictions, CFO’s Gloomy on Economic Growth and More, Dire Warning about the South African Economy from Magnus Heystek. As one of the world’s leading gold and precious metal dealers, we understand the importance of quality, convenience and wealth security. The Krugerrand was the worlds first troy ounce-denominated gold bullion coin. In association with The Department of Health and the NHI. By January 2015, South Africa was producing a staggering 87% less gold than it had produced in January 1980 (coincidentally, the month of the highest ever inflation-adjusted gold price). Bullion Gold Buyers is proud to be the largest and most up market mall-based gold recycling specialist in South Africa How It Works Store Locations Bullion Gold Buyers, making a difference to our planet This programme is part of the South African Reserve Bank Act, 1989 (Act No. A national debt of R3.235 Trillion! Full Name (required) … We will do our best to only share information that is relevant and adds value. Simply stated, it is the cheapest available gold bullion product on the South African market. The most reliable technique involves the use of a vacuum sampler. JSE members trading Krugerrands on behalf of customers issue contract notes to their customers (section 15.10.3), just like in JSE equities trading. Anglogold Ashanti arose from a merger completed in 2004 between Anglogold Limited of South Africa and Ashanti Goldfields of Ghana. This one ounce gold coin is offered in brilliant-uncirculated condition and has a 22K gold coin purity, which is a millesimal fineness of .9167. Stocks and bonds have been sold off as panicked investors exit over leveraged investments and flee to what they perceive to be the safety of cash. From 2018 - 2019 gold production declined by more than 30%. The above four gold mining companies are members of a broad-based mining group called the Chamber of Mines of South Africa[8], as are fellow South African gold miners DRDGOLD[9], Village Main Reef[10], and Pan African Resources[11]. ENQUIRE NOW. We pride ourselves with 100% delivery success in the tens of thousands of ounces of silver sold. As its 2012 annual report states: “We are also currently exporting to China about a third of that country’s gold imports and have begun investing time and effort into developing relationships with the Chinese in terms of selling our products and sourcing material for refining“[1]. The 1 and 2 Rand coins were the first gold bullion coins produced in South Africa. Today, Standard Bank offers hedging products on precious metals including gold, is a market maker for Rand cash-settled gold futures on the JSE and issues Exchange Traded Notes on gold, which also trade on the JSE[39]. D M (PTY) LTD offering fine quality Gold Bullion Bars at Affordable Price. As South Africa’s 130-year-old industry limps toward its final years, mining investors must look beyond gold for better returns, he said. In August 2009, the CME Group granted a license to the JSE to list gold futures based on the CME’s commodity derivatives products. There are also many online dealers that allow you to conveniently buy gold bullion over the Internet. Gauteng is derived from the word ‘gauta’ which means gold in the Sotho language, and which in turn is derived from the Afrikaans word ‘goud’, which also means gold. Many years later in 1967, to help market South African bullion it was decided to issue a one ounce gold coin. If you’re looking to increase wealth or protect your hard-earned assets.. Available in 1-ounce and 1/10-ounce coins. RMB also markets a Krugerrand saving product offered by FNB, another company in the FirstRand group, where Krugerrands can be purchased for inclusion in a retail customer’s Share Builder and Share Investor savings products, and the Krugerrands are stored at the Rand Refinery storage facility. Krugerrands traded by JSE members are fungible to the extent that a customer cannot direct a JSE member to use specific coins from one transaction in a subsequent transaction (section 15.10.2). Another coveted coin is the South African Krugerrand, minted since 1967 by the South African mint in 22-karat gold alloy containing 1 Troy ounce of pure gold. In its investment gold bar range, Rand Refinery produces a number of cast bars including the good delivery 400 oz bar, a 100 oz bar, a 1 kilogram bar (in various purities), a 100 gram bar, and 5 and 10 tolas bars (in various purities)[17]. All prices include Tax. Sibanye Gold is a purely South African focused gold mining company which was spun off from Gold Fields in early 2013, and is now itself a major gold producer, having acquired a number of mines since then[5]. Harmony, South Africa’s third largest gold producer, has operations in Papua New guinea as well as South Africa. The reverse includes the Springbok antelope, the national … The South African Mint occupied its present location in Centurion in the year 1992. The South African Reserve Bank (SARB) holds a respectable 125.2 tonnes of gold in its official reserves (just over 4 million troy ounces)[33]. Armed groups and criminal networks benefit from the … Shipments can be tracked from our warehouse right to your doorstep for peace of mind. Legal tender silver bullion coins are internationally recognisable and sell for a higher premium than silver bars in the secondary market. IBV Gold is a global gold and silver bullion merchant. An investment in a silver bullion coin or a gold bullion coin can be contrasted with an in vestment in AAA rated Lehman Brothers or Bear Stearns bonds. The South African Mint has been supplying coins to South Africa and others for over 100 years. Buy coins issued by the Rand Refinery in South Africa, including the famous gold Krugerrand coin. The United States national debt stands at over $22.1 Trillion and is growing, a staggering $180 515 per taxpayer. Since 1921, It has refined over 50,000 tonnes of gold, which is more than one-third of all the gold ever mined throughout history[12]. The name itself is a compound of Kruger (the former South-African president depicted on the obverse) and rand, the South African unit of currency. One of the mint’s most widely recognized products is the South African Gold Krugerrand coin. African Bullion gives the South African retail investor the opportunity to purchase and hold physical gold and silver bullion. Additionally, South Africa’s leading banks are experts in financing the country’s gold mining sector. We hate spam email just as much as you do! Mint. Rand Refinery manufacture the coin blanks, and the South African Mint mints and stamps the bullion coins jointly with Rand Refinery. Silver-Sphere evolved from a hobby and love for precious metals (especially low premium bullion coins, rounds, and bars), to one of the most trusted names on the precious metals market in South Africa. According to The Sentry, an investigative and policy group, 95% of the gold mined in east and central Africa reaches Dubai, where it enters international markets. South Africa’s golden jackpot may not be ending anytime soon, but there appear to be some clouds on the horizon. Online options. Rand Refinery also operates a precious metals and gemstones vault and transportation operation adjacent to Johannesburg’s “OR Tambo International Airport” which was opened on behalf of gold and gemstones producers, and which helps serve Rand Refinery’s international customer base[20]. This is by virtue of South Africa’s significant gold reserves both in the vaults and underground.“. These JSE gold futures are denominated in South African Rand (ZAR) and are cash-settled in ZAR with an underlying asset of COMEX gold futures (they use the COMEX gold price as an underlying reference). Gold Bars are sealed as stipulated by South African Law. These bullion coins all bear the Springbok - the national animal of South Africa. The price of gold in South Africa is also heavily impacted by the fluctuating Rand / Dollar exchange rate. Prices of Gold and Silver Bars in South Africa. 1/4oz 22k Gold South African Krugerrand - Varied Years From £ 407.42 View. All of this information helps to explain why Rand Refinery has been importing gold from other countries since 2004[12]. Company Registration No. Many of the locations in this area have hidden – and not so hidden clues – referring to gold. Why should I Invest in Gold and Silver Bullion, Sign up to our Newsletters and Specials Alerts. It is interesting to note that geologists estimate that the ratio of silver to gold ratio in the earth’s crust is about 16:1. In fact, South Africa’s currency, the Rand, was even derived from ‘Witwatersrand‘, at a time when people knew that gold was money. In fact, it is considered one of the most advanced mints in the world – a title it most … South African gold mining companies have also recently become either loss-making, or have witnessed substantial reductions in their profitability[53]. Proving its worth, the South Gold Krugerrand continues to be one of the most highly sought after choices for gold bullion in the world. A brief explanation of some of these rules, and the procedures used for Krugerrand contract notes is available on the JSE website[31]. All silver bullion orders over 20 ounces Qualify for free shipping and insurance. The South African Gold Coin Exchange & The Scoin Shop has allowed South Africans the opportunity to own unique modern numismatics, Krugerrands bullion and proofs, and ZARs for over 45 years. Rand Refinery is also notable in being one of the five referees that comprise the LBMA Good Delivery System panel along with precious metals refiners Argor-Heraeus, Metalor and PAMP from Switzerland and Tanaka Kikinzoku Kogyo from Japan[15]. Enquire about or browse our coins today. Given the prolific output of gold bars from Rand Refinery for nearly 100 years, and the South African central bank’s historic approach of selling South African gold in the London, and later Zurich gold markets, there are, or at least there used to be, a huge number of Rand Refinery 400oz gold bars stored at the Bank of England and in other central bank gold vaults around the world, including at the vaults of the Federal Reserve Bank of New York. Africa’s gold mining industry — traditionally dominated by South Africa — has seen a shift in focus with countries such as Ghana, Suda, Mali, and Burkina Faso entering the fray. The Bank states that “a very large percentage of these gold reserves are held in the vaults of official sector institutions.” When asked by BullionStar where this gold is actually held, SARB replied “Unfortunately, the SARB cannot divulge that information, hence the reason it stated  ‘mostly held abroad with other official sector institutions‘”. The long term trend is continuously downward. Tambo Airport vault http://www.rmb.co.za/globalmarkets/pdfs/KPMG%20Audit.pdf, 44.^ FNB Krugerrand option within Share Builder and Share Investor products http://www.fnb.co.za/share-investing/krugerrands.html, 45.^ Absa Bank http://www.absa.co.za/Absacoza/About-Absa/Absa-Bank/Absa-Overview, 46.^ ABSA NewGold ETF brochure http://etfcib.absa.co.za/Fund%20Documents/NewPlat%20Brochure.pdf, 47.^ ABSA NewGold ETF, gold holdings, see ‘Asset Information’ tab http://etfcib.absa.co.za/Products/Exchange%20Traded%20Funds/Commodities/NewGold/Pages/default.aspx, 48.^ South African Department of Mineral Resources – gold resources http://www.dmr.gov.za/mine-health-a-safety.html, 49.^ “The decreasing importance of gold mining in South Africa”, Statistics South Africa March 2015 http://www.statssa.gov.za/?p=4252, 50.^ USGS http://minerals.usgs.gov/minerals/pubs/commodity/gold/mcs-2016-gold.pdf, 51.^ “Mining: Production and Sales“, Statistics South Africa, December 2015, http://www.statssa.gov.za/publications/P2041/P2041December2015.pdf, 52.^ Rand Refinery sourcing of gold http://www.randrefinery.com/services_sourcing.htm, 53.^ “Half of South Africa’s gold mines operating at loss“, Mining.com http://www.mining.com/half-of-south-africas-gold-mines-operating-at-loss-report/. 1oz 22k Gold South African Krugerrand - Varied Years From £ … Tambo Airport in Johannesburg[42][43]. Current year and backyear gold Krugerrands are available, as well as … South African Gold Krugerrand: The oldest gold bullion coin in the world, the Gold Krugerrand debuted in 1967 with a 1 oz gold coin. In the 1960s the Gold Krugerrand Coin was developed by the Chamber of Mines of South Africa, the South African Reserve Bank, and the South Africa Mint. ABSA Bank[45], a wholly owned subsidiary of Barclays, offers a physically-backed gold Exchange Traded Fund (ETF) called NewGold[46]. The LBMA initiative is welcomed by Joanne … Is subject to South African legal tender silver bullion prices were low, with high production,! Staggering $ 180 515 per taxpayer Africa to become a world leader in gold debate and growing! Sale in that country the cheapest available gold bullion Platinum/Palladium bullion significant US Patterns... South Africa is heavily... Which means ‘ Place of gold in the world of precious metals bull market using local commercial as. 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