FREQUENTLY ASKED QUESTIONS

THE LEGACY OF A GLOBAL BRAND

Krugerrands

I would like to buy Krugerrand coins.

  • Krugerrands can be purchased through authorised dealers of Rand Refinery and the South African Mint.
  • A comprehensive list of authorised local and international Krugerrand dealers can be found on this website.
  • To resell bullion Krugerrands, potential Krugerrand dealers must complete Rand Refinery’s Application to Trade form for approval to buy from Rand Refinery. This application form can be requested from marketing@gold.co.za.
  • To resell proof Krugerrands, potential dealers must undergo the South African Mint’s dealer authorisation vetting process and complete the necessary documentation. Contact: numismatics@samint.co.za or info@samint.co.za for more information.

Who is eligible to trade in Krugerrands?

  • Applications for ‘authorised dealer status must be made directly to Rand Refinery and the South African Mint.
  • Neither company will respond either by e-mail or other communication to any agent, middleman or third party on requests for information, or process any applications to trade for an agent on his or her customer’s behalf, even where a fee to process has been paid. Rand Refinery and the South African Mint only deals with principals in the deposit or purchase of precious metal products. Agents who require information to inform customers of their own are advised to have such parties approach Rand Refinery and the South African Mint.

Does the Krugerrand have a face value?

  • Neither the bullion nor the proof Krugerrand have a face value. Instead, the value of the coin is based on the fine gold content.

How much does a Krugerrand cost?

  • The price of bullion Krugerrands is based on the gold content of the coin, plus a premium to cover manufacturing and distribution costs.
  • The proof Krugerrand is priced at a premium, as these coins are produced in limited quantities, with a different finishing and packaging.
  • Sales of Krugerrands in South Africa are not subject to VAT

I am visiting South Africa and would like to buy a Krugerrand. Can I take this out of the country and what is the procedure?

  • South African residents may not export any Krugerrands without the approval of the South African Reserve Bank.
  • Foreign residents visiting South Africa may take up to 15 Krugerrands with them from South Africa, provided they can prove that they were purchased using foreign currency brought into the country.

Is there a storage facility for Krugerrand coins?

  • We currently do not offer a storage facility for Krugerrand coins.

Payment Options

What are the different payment options accepted for the Krugerrand?

  • South African FICA requirements throughout all its transactions, especially as this relates to the potential of money laundering using precious metals as a conduit.
  • Rand Refinery payment options:
    • No cash, credit cards, cheques or bank-guaranteed cheques will be accepted.
    • No cash deposits directly placed into our account will be accepted, Electronic Fund Transfers (EFTs) between accounts will be accepted as payment.
    • No third party payments.
  • South African Mint payment options:
    • Cash, credit card and Electronic Fund Transfers (EFTs) into our account are accepted

Tours and Projects

My child has a school project on gold. Is there any literature on the process of gold and the history thereof?

  • The South African Mint offers tours of its coin museum to schools and the public at large.
  • Depending on the nature of the project, there is a wide variety of material available on this site. Information on the mining industry generally can also be found on the website of the Chamber of Mines of South Africa and those of our shareholders.

Can I tour the Krugerrand manufacturing facilities?

  • Due to safety and security concerns, no public tours are allowed through the manufacturing plants of either the refinery or the mint.

Regulations

What Act applies to the regulation of gold in South Africa?

  • The Precious Metals Act of 2005 provides for the acquisition, possession, smelting, refining, beneficiation, use and disposal of precious metals in South Africa. Rand Refinery’s refining licence is issued under the Precious Metals Act of 2005.

For more information, contact:

Rand Refinery:
Tel: +27 11 418 9000
Fax: +27 11 418 9231
Email: marketing@gold.co.za
www.randrefinery.com

South African Mint:
Tel: +27 12 677 2777
Email: numsmatics@samint.co.za or info@samint.co.za
www.samint.co.za

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