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How do I invest in Kruger Rands (ie. receive the physical commodity)

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Not applicable
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22 REPLIES 22
Not applicable
Try going to a coin dealer or SA mint or SA Gold exchange etc.....
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Not applicable
There's a big spread between their prices and the current market prices isn't it?
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babz
Contributor
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Super Contributor
I will sell you some.. whats the going rate for mint...R30k?
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Valued Contributor
yip .. an comm, an if you buy bars also tax and then also for rarity on some coins .. careful coz mostly a scam ..
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Not applicable
lol R30k??? hahah.. this morning it was priced R9400. I'm willing to pay R9300
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Super Contributor
well you gold bulls are a wird lot... No worries I can wait!
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Super Contributor
I have seen the Madiba coins advertised at R25k
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Super Contributor
John - depends which ones. I have sold some at R27k and have been offered over r30k for others..
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Regular Contributor
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Highlighted
Frequent Contributor
Easy just walk into Somerset Mall to Scoin Shop 77 opposite Wimpy. There are branches all over the country, The South African Gold Coin Exchange http://www.sagoldcoin.com/index.asp When you are ready to sell walk back into a Scoin shop and sell them, there is no paperwork required.
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Super Contributor
regarding paperwork. Not yet. I buy kruger rands from Keogh Coins in Durban. And teh owner informed me that there is noise being made that buyers need to show fica compliance. Its not here yet but coming. Also he has to report any purchase over 25k. In case it laundering or dodgey or whatevr (Read the State wants to steal more of our money. Gold couldnt go up if they stopped printing money!) At 25k thats 2.5 full one ounce coins bewfore you get tracked. Use it dont use it
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Super Contributor
got them at the launch price of R4400 per coin..
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Valued Contributor
confused why you don't like FICA ?? it is a global initiative to combat crime, surely you're in favour of combating crime ??
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Super Contributor
no problem combating crime, but not happy with FICA when OST miss-place / lose my ID document and I have to resubmit [my moan for the day....]
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Valued Contributor
ya an that's not the law .. that's the process which even when effecient is painful ..
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Not applicable
Simon.. The FICA requirements serve two purposes. One is the crime issue.. the other is to have information of everyone for much more cunning reasons. Watch the documentary called phase 3 (part 1-22. 10mins each). You can get it on youtube or wakeupproject.com. But in order to fully understand, you have to watch The Arrivals (also on youtube and wakeupproject.com). I felt like an idiot after watching them.
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Super Contributor
FICA is firstly a pain. Thats my main issue. The second is that FICA will be used in future by our gov to take money away from those that are gainfully employed in the form of taxes, be they higher income taxes, CGT, and a myriad of other taxes that will likely come. I ahve an issue with tax in general ESPECIALLY CGT. My main issue with taxation is that the gov takes it from the people that are producing and redistributes it to those that are not. Of course there are loads of arguments about how the gov would function without tax revenues but thats going to get us very off topic. Bottom line is gov is a waster and distributer of resources that are STOLEN through taxation. As for "its the law" most of the laws that have been passed by our gov are not known to the everyday citizens. We didnt get to vote on them they exist for gov. The purpose of a bureaucracy is to justify its own existance. See now you got me started again!
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Super Contributor
While FICA may be a nescessary evil, it is certainly a painfull process..a bit like a colonoscopy or somthing like that I would imagine. I have had to submit my FICA docs to my local branch here at least four times. About two years ago I registered with my Brahcn to become FICA compliant. Also because I own a small portion of the company I work, for, my local branch came to our company and got our FICA docs for our company overdraft. They lost those I assume. I then went to apply for foreign exchange, and was told I was not FICA compliant. I then got the required docs and became FICA compliant again - well I assume I was, since I got my foreign exchange. then about four weeks after that my local branch called me to tell me they were shutting down my account because I was not FICA compliant.....at that stage all I could do was laugh.
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