Springbok Posted December 9, 2008 Report Share Posted December 9, 2008 My f.a told me that Kruger coins can no longer be used to purchase things... f.a. also said they are worth about 7500 so 6900 is not a good offer.Krugerrands currently trading above R8000 per coin, one of the few investments that's UP the last few months... and remember you can sell them almost anywhere in the world. I'd hold onto mine though.Here's more:Gold coins as an investment: Alan Demby – executive chairman, South African Gold Coin Exchange Quote Link to comment Share on other sites More sharing options...
Pine and Riana Pienaar Posted December 9, 2008 Report Share Posted December 9, 2008 (edited) A hand full of coins: - http://www.saaustralia.org/index.php?s=&am...st&p=170920I recently posted a topic on taking over coins and had some useful responses. Edited December 9, 2008 by Pine and Riana Pienaar Quote Link to comment Share on other sites More sharing options...
Sutton Murray Posted December 16, 2008 Report Share Posted December 16, 2008 I have also read that the kruger rand coins can be sold in most banks around the world. This however failed with my Australian bank ANZ(kruger rands are not excepted). Outside South Africa as it was also mentioned to me(i believe it was said so by SA Mint) that the coin needs to be certified by the South African mint to be sold off in another country. Even if you do get them through customs without declarations. You are going to return to the SA Mint, for certifications. This is all going to cost you money. Not doing in this way? i believe you will be trading as called in the black market. Deals are bargained on who’s willing to pay what for your coins, if you find the people.(remember this is now un-legal). The easiest and safest way is to just sell them of in South Africa (direct to SA Mint). Don't break yourself about the issue. Quote Link to comment Share on other sites More sharing options...
Brick Posted December 16, 2008 Report Share Posted December 16, 2008 I have two which I am taking over for sentimental reasons. I plan to put them in my wallet with other coins or something like that.B Quote Link to comment Share on other sites More sharing options...
Zululand Posted August 19, 2009 Report Share Posted August 19, 2009 I have two which I am taking over for sentimental reasons. I plan to put them in my wallet with other coins or something like that.I was planning on doing the same thing with my "sentimental-value gifts from SA" for my children... but what if that X-ray machine at O.R. Tambo can tell the difference (density/size/shade of grey?) between the money coins in my wallet and the 2 kruger-rands carefully stuck in the middle of them?I would hate to hear the words: "please open up your wallet Sir - we need to take a look inside... thank you we'll have to confiscate these... next"Has anyone had any experiences with getting gold coins (just 1 or 2) through customs? If the value does not exceed what could normally be carried as cash for holiday expenses, what's the problem? Quote Link to comment Share on other sites More sharing options...
Gawie Posted August 28, 2009 Report Share Posted August 28, 2009 I was just wondering why everyone wants to take it with them?Why did you buy these coins and why do you want to keep them?I'm placing my coins in a bank vault as I see them as investments for the future. I will come back one day on holiday and sell them once the price is right. During that time it will form part of the security to the bank if I ever need to borrow money.That is my opinion on this, some may differ but I have quite a few. Quote Link to comment Share on other sites More sharing options...
bluebonnet Posted August 28, 2009 Report Share Posted August 28, 2009 I was just wondering why everyone wants to take it with them?Why did you buy these coins and why do you want to keep them?I'm placing my coins in a bank vault as I see them as investments for the future. I will come back one day on holiday and sell them once the price is right. During that time it will form part of the security to the bank if I ever need to borrow money.That is my opinion on this, some may differ but I have quite a few.Gawie, I agree with you it is a good investment. My dad started to buy Kruger Rand Coins in the late 70's (or early 80's ?),,,and I can tell you he made a fortune. It is also a good security, people have been buying gold like crazy since the finanancial crisis, or whatever this crisis is called. But, some people leaving South Africa are not planning to go back ever again. Many formally emigrated (me included), so I think they want to take their coins with them. These coins can be sold at any bank in most countries. Quote Link to comment Share on other sites More sharing options...
bluebonnet Posted August 28, 2009 Report Share Posted August 28, 2009 http://www.usagold.com/reference/prices/history.htmlGold price ($/oz) since 1970. If we could have, don't we wish we would have bought a thousand of them. (Kruger Rands) Quote Link to comment Share on other sites More sharing options...
bluebonnet Posted August 28, 2009 Report Share Posted August 28, 2009 My f.a told me that Kruger coins can no longer be used to purchase things i.e. they are no longer "in circulation". Now I do not know who to believe. These coins are now becoming a hassle. Feel like flogging them. Had another reply from customs. You do need an export certificate for them. I muchrather get rid of them than have to deal with any sa government department. I do not want to waste any of my time or emotional energy on that sort of thing any more. "E yu want to what! O, you want to export money. No yu don't need export permit. O, you want to leave the country. No you do not need export permitr to leave the country. O you've got Kruger coins. What's that. No, I don't know krugercoins. No, you must come in and fill in form. No i don't know how long it will take. Why you say im stupid....." f.a. also said they are worth about 7500 so 6900 is not a good offer.You can walk into UBS or Credit Suisse here in Zurich and they will buy them.(no questions ask, no hassles, on the spot) Today CHF 970 = R7,150 (Less 70 francs for the bank ZAR513) that will be about R6,637 I looked up in Germany they will buy a Kruger Rand today for 663 Euros = R7,386 How much do you want for your Kruger Rands in SA then?? Quote Link to comment Share on other sites More sharing options...
Zululand Posted September 9, 2009 Report Share Posted September 9, 2009 To those people wanting to take their Kruger Rands with them to Oz:I have received confirmation from a broker at the SA Gold Coin Exchange that no permit/authorization is required to take Kruger Rands out the country provided their total value is less than R50 000. So that would limit the number to about 6 Coins. He also mentioned that Kruger Rands are still technically considered Legal Tender (indistinguishable from cash). Quote Link to comment Share on other sites More sharing options...
Heymanse Posted September 9, 2009 Report Share Posted September 9, 2009 I thought I'd tell you my experience. Received 1/2 Krugerrand Coin as a gift from Standard Bank and obtained the necessary Export Permit from my Exchange Control Officer. When we arrived here, we went through Customs like a breeze without even having to show the coin or Permit. Quote Link to comment Share on other sites More sharing options...
Springbok Posted November 26, 2009 Report Share Posted November 26, 2009 Krugerrands currently trading above R8000 per coin, one of the few investments that's UP the last few months... and remember you can sell them almost anywhere in the world. I'd hold onto mine though.just an update for those interested in gold... a Krugerrand is worth about R8800 today. The gold price has been on a record breaking tear this month, hitting US$1195 per ounce today.India bought 200 tonnes of gold from the IMF a month ago, paying $6.7 billion for that, and rumours are they want to buy the remaining 201 tonnes too:http://www.mydigitalfc.com/plan/india-plan...re-gold-imf-410Here's more about gold for those interested:Golden Era for Gold? Maybe, Even at $1,141.40 In recent weeks, everybody from hedge-fund wizard John Paulson to the central bank of India has made a show of buying gold. They may be on to something. Gold is still well below its inflation-adjusted record high, set in January 1980, of $2,290 an ounce.Dylan Grice (Societe Generale) – Gold is still very, very cheapSo one way to value gold, therefore, is to ask at what gold price the value of outstanding central bank paper would be completely backed by gold. The US owns nearly 263m troy ounces of gold (the world's biggest holder) while the Fed's monetary base is $1.7 trillion. So the price of gold at which the US dollars would be fully gold-backed is currently around $6,300.John Paulson Making Big New Bet on Gold One of the biggest investors is placing a huge new bet on gold. John Paulson, who scored about $20 billion of profits between 2007 and early 2009 wagering against the housing market and financial companies, is launching a hedge fund dedicated to buying up shares of gold miners and other bullion-related investments, according to investors. Mr. Paulson told his investors he personally would invest between $200 million and $250 million in the new fund, which he said will begin on Jan. 1, according to an investor at the meeting. Mr. Paulson currently has more than 10% of his $30 billion or so under management in gold-related investments, according to his investors.Gold's 'Money' Value is $4,000 to $11,000: Market Strategist“Very few people think of gold as money. If you think of gold as money, that level is a range between $4,000 and $11,000 an ounce—that’s the price gold will have to be to support the money supply.†“I’m a deflationary hard-dollar guy but if you’re an inflationist, if you really want to inflate the dollar, have the Fed conduct open market operations in gold and you’ll be a buyer in the gold. Gold will find its level at $4,000—and that’s a 75 percent devaluation of the dollar,†he said. Rickards said he’s been bullish on gold for a while and said he sees gold rising to $2,000 an ounce “without breaking a sweat†in 2010. “That’s on fundamentals without treating it as money,†he added. Quote Link to comment Share on other sites More sharing options...
bluebonnet Posted November 26, 2009 Report Share Posted November 26, 2009 Thanks Springbok. So we will buy gold... Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.