Many years later in 1967, to help market South African bullion it was decided to issue a one ounce gold coin. African Bullion is an authorised dealer with the South African Mint. As South Africa’s 130-year-old industry limps toward its final years, mining investors must look beyond gold for better returns, he said. Even though the 1 oz Krugerrand gold coin is 22 karat gold or 0.9167 fine, it contains exactly 1 oz of pure gold since the actual coin weighs 1.090869 ozs, with the residual metal comprising copper. The JSE acquired the South African Futures Exchange (SAFEX) in 2001[32]. Every man woman and child owes a staggering R59 530.00. BEST SELLERS. | SA Bullion is South Africa’s leading specialist of gold dealing & vaulting services, providing investment management solution for physical gold as well as gold recycling services and related business support services. Weight (grams): 31.10 Pure silver content (grams): 31.10348 Fineness: 999.0 Dimensions: 37mm Diameter x 3.2mm Thick. The program grew in 1980 to feature three fractional weights of 1/2 oz, 1/4 oz, and 1/10 oz. South Africa’s golden jackpot may not be ending anytime soon, but there appear to be some clouds on the horizon. The gold in the basin was 'discovered' in March 1886. The Krugerrand is one of the most popular and numerous one ounce bullion gold coins in the world and for 2017, celebrates its 50th anniversary. In March 2015, the government agency, Statistics South Africa, published an eye-opening summary on the declining importance of gold mining to the South African economy[49]. Over the course of the next century the Zulu and Boer Wars were fought over territory in South Africa. As one of the world’s leading gold and precious metal dealers, we understand the importance of quality, convenience and wealth security. The South African Gold Krugerrand. Gold Krugerrands are one of the best selling gold coins worldwide, and have been in continuous circulation since 1979, when they were first released. 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. Its notable in produces proof Krugerrand gold coins, as well as other ranges of proof gold coins (see below). Unlike other bullion coins, the Krugerrand was given the status of currency or legal tender. 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). IBV Gold is a global gold bullion merchant. Customers are paid out in Rand“[36]. Full Name (required) … African Bullion appreciates that purchasing silver bullion online calls for a high level of trust and are committed to providing superior customer service, an easy online order process and efficient fully insured shipping. READ MORE Mining in Africa and beyond: Tracking the great gold rush. The 1 and 2 Rand coins were the first gold bullion coins produced in South Africa. The silver Krugerrand coin was first released in 2016, but has quickly become a favorite with bullion investors. 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). The refinery is located in Germiston, to the east of the Johannesburg metropolis. The current Gold / Silver ratio is 71 : 1 (One ounce of gold will cost you 71 ounces of silver) Many investors believe this ratio will fall to at least 20 : 1 resulting in more upside potential for an investment in silver. As one of the world’s leading gold and precious metal dealers, we understand the importance of quality, convenience and wealth security. 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]. SAFEX was founded in 1990, originally as an Agricultural futures exchange. All orders are shipped with a VAT invoice. However, it has now dropped to 7th place in annual output behind China, Australia, Russia, USA, Canada and Peru, with 2015 production of only 140 tonnes[50]. Gold Fields of South Africa was originally established in 1887, one of the co-founders being the famous Cecil Rhodes[7]. The 2020 bullion Silver Krugerrand makes it affordable for South Africans to allocate a portion of their investment portfolio to physical precious metals. 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. Proving its worth, the South Gold Krugerrand continues to be one of the most highly sought after choices for gold bullion in the world. The Johannesburg Stock Exchange (JSE)[28] hosts a secondary trading market for Krugerrands which quotes prices for the coin’s 4 denominations, i.e. Interestingly, the SARB runs a programme under which it offers to buy back South African legal tender gold coins from the public. Harmony, South Africa’s third largest gold producer, has operations in Papua New guinea as well as South Africa. 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 products include Gold Bar,Gold Ore, Raw Gold Bars, Gold Dust, Diamond Carat, 24 Carat Gold and Gold Bullion 1 KG Bars. We guarantee the authenticity of all of our legal tender bullion products. 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 silver Krugerrand coin was first released in 2016, but has quickly become a favorite with bullion investors. A one ounce gold or silver coin represents the capital required to prospect, mine, refine and produce the coin. Many of the locations in this area have hidden – and not so hidden clues – referring to gold. You can change the usage of cookies in your browser. What is your take on the current state of mining politics in South Africa? All other rights are reserved. The largest contemporary South African headquartered gold mining companies are Anglogold Ashanti[2], Gold Fields[3], Harmony, and Sibanye Gold. Some investors believe that silver will outperform gold in the current precious metals bull market. A national debt of R3.235 Trillion! This is due mainly to low … However, since 1997, the SARB states that it “still monitors the gold market closely since its opinion in respect of the gold market is still required and valued“[35]. The United States national debt stands at over $22.1 Trillion and is growing, a staggering $180 515 per taxpayer. Earlier, in 1998, Anglogold Limited was created through the consolidation of the various gold operations of Anglo-American Corporation of South Africa Ltd[6]. The Krugerrand bullion is the most widely traded coin in the world, as it is a trusted bullion coin. Since we are not tax experts, Bullion Exchanges strongly advises you to cross check with a tax professional before making any precious metals investments in South Africa. Since Krugerrands are legal tender in South Africa, Krugerrand bullion and proof coins are included in this programme, as are Natura proof gold coins[37], and Protea proof gold coins[38]. African Bullion has been trusted by the Austrian mint to represent them here in SA since 2009. South African gold mining companies have also recently become either loss-making, or have witnessed substantial reductions in their profitability[53]. The Beginning of South Africa’s Modern Gold Coin. In fact, it is considered one of the most advanced mints in the world – a title it most … We will do our best to only share information that is relevant and adds value. One of the mint’s most widely recognized products is the South African Gold Krugerrand coin. 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].
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