Tambo International Airport in Johannesburg with gold bars weighing 73.5 kilograms (162 pounds) in their carry-on luggage. Krugerrand coins are legal tender in South Africa. The bead remaining after cupellation is rolled into a very thin strip called a coronet. The mint operates in conjunction with the Rand Refinery, who provide the gold to the South African government for the Krugerrand coins and, in return, are permitted to supply domestically and … As the leader of South Africa, he represented his nation's interests against Great Britain during the Second Boer War and is often seen as a controversial hero. 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]. The 2020 bullion Silver Krugerrand makes it affordable for South Africans to allocate a portion of their investment portfolio to physical precious metals. 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 South African Mint has been supplying coins to South Africa and others for over 100 years. In fact, the critical aspect of bullion analysis is proper sampling. In recent years we have seen the ratio as high as 83:1 and as low as 30:1. This decline in gold production continued during 2015[51]. Manufacturer & Exporters of Gold Bullion Bars in South Africa. The gold Krugerrand coin has been minted since 1967 by The Rand Refinery in South Africa. The vehicle selected to help drive gold demand was the 1 oz Gold Krugerrand Coin. Eligible coins “are purchased for their gold content at the prevailing gold price. The program grew in 1980 to … The group operates its services in South Africa, Mauritius, Switzerland and Dubai. Rand Refinery’s membership of this prestigious panel highlights the standing in which South Africa’s main refinery is held around the world. Silver Krugerrands are available in 1 Ounce and are sold individually or in monster boxes of 500 coins. A worker cleans gold bars at South Africa's Gold Fields South Deep mine in Westonaria, 45 kilometres south-west of Johannesburg, South Africa, March 9, 2017. Contact Direct Bullion Level 1 Devonshire House One Mayfair Place Mayfair London W1J 8AJ Email us info@directbullion.com Call us 0800 055 7050 There are also JSE rules covering delivery of Krugerrands between members (15.10.4 – 15.10.6), as well as record keeping and safekeeping (15.10.7 – 15.10.9) of the coins. This programme is part of the South African Reserve Bank Act, 1989 (Act No. WELCOME TO IBV GOLD SOUTH AFRICA GLOBAL GOLD AND SILVER BULLION MERCHANT. Interestingly, the SARB runs a programme under which it offers to buy back South African legal tender gold coins from the public. To put that in perspective, South Africa produced over 1,000 metric tonnes of gold all by itself in 1970. JSE members trading Krugerrands on behalf of customers issue contract notes to their customers (section 15.10.3), just like in JSE equities trading. The SARB also lends gold on a short-term basis to the local jewellery industry using local commercial banks as intermediaries. Get in Touch . South African Gold Krugerrand: The oldest gold bullion coin in the world, the Gold Krugerrand debuted in 1967 with a 1 oz gold coin. One of the mint’s most widely recognized products is the South African Gold Krugerrand coin. What is your take on the current state of mining politics in South Africa? The gold Krugerrand coin has been minted since 1967 by The Rand Refinery in South Africa. Matte Finish - Single Struck - Intended To Be Touched And Handled - … Furthermore, the LBMA’s current good delivery list officer, Neil Harby, was formerly the Head of Evaluation at Rand Refinery[16]. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time. These bullion coins all bear the Springbok - the national animal of South Africa. 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). Krugerrands are available in both bullion and proof forms, and are very popular with investors and collectors. Phone: +65 6284 4653, USD/ZAR exchange rate applied to COMEX settlement value, We are also currently exporting to China about a third of that country’s gold imports, The South African Reserve Bank (SARB) – South Africa’s Central Bank, http://www.randrefinery.com/brochures/Rand%20Refinery%20Integrated%20Annual%20Report%202012.pdf, http://www.anglogoldashanti.com/en/About-Us/, https://www.harmony.co.za/about-us/corporate-profile, http://www.anglogoldashanti.com/en/About-Us/history, https://www.goldfields.com/au_history.php, http://www.chamberofmines.org.za/about/members, http://www.drd.co.za/about-us/corporate-profile, http://www.panafricanresources.com/about-overview/, http://www.randrefinery.com/services_sourcing.htm, http://www.randrefinery.com/about_company.htm, http://www.randrefinery.com/about_shareholding.htm, http://www.lbma.org.uk/good-delivery-explained, http://www.randrefinery.com/products_cast_bars.htm, http://www.randrefinery.com/products_minted_bars.htm, http://www.goldbarsworldwide.com/PDF/RB_7_RandRefineryGoldBars.pdf, http://www.randrefinery.com/services_vault.htm, http://www.randrefinery.com/products_krugerrands.htm, http://www.samint.co.za/Proof%20coin%20production.aspx, http://www.samint.co.za/2015%20Coins/Krugerrand%20Series.aspx, http://www.randrefinery.com/South_African_Coin_Dealers.pdf, http://www.randrefinery.com/International_Coin_Dealers.pdf, http://www.jse.co.za/trade/equity-market/krugerrands, https://www.jse.co.za/content/JSERulesPoliciesandRegulationItems/EquitiesRules.pdf, https://www.jse.co.za/content/JSEBrochureItems/Krugerrand.pdf, https://web.archive.org/web/20010601053516/http://www.safex.co.za/, http://www.gold.org/research/latest-world-official-gold-reserves, https://www.resbank.co.za/Markets/ForeignReserves/ManagementOfGoldReserves/Pages/default.aspx, https://www.resbank.co.za/Markets/GoldCoinsPurchased-Public/Pages/default.aspx, http://www.samint.co.za/2015%20Coins/Natura%20Series.aspx, http://www.samint.co.za/2015%20Coins/Protea%20Series.aspx, http://www.standardbank.com/pages/StandardBankGroup/web/newsArticle/2015/NewsArticle-2Feb2015.html, http://www.rmb.co.za/globalmarkets/weTrade_Commodities_SAFEX.asp, http://www.rmb.co.za/globalmarkets/weTrade_Commodities_Krugerrand_Custodial_Certificate.asp, http://www.rmb.co.za/globalmarkets/pdfs/Signed%20Kruger%20Rand%20Count%20Observation%20report%20~%202%20October%202015%20Final.pdf, http://www.rmb.co.za/globalmarkets/pdfs/KPMG%20Audit.pdf, http://www.fnb.co.za/share-investing/krugerrands.html, http://www.absa.co.za/Absacoza/About-Absa/Absa-Bank/Absa-Overview, http://etfcib.absa.co.za/Fund%20Documents/NewPlat%20Brochure.pdf, http://etfcib.absa.co.za/Products/Exchange%20Traded%20Funds/Commodities/NewGold/Pages/default.aspx, http://www.dmr.gov.za/mine-health-a-safety.html, http://minerals.usgs.gov/minerals/pubs/commodity/gold/mcs-2016-gold.pdf, http://www.statssa.gov.za/publications/P2041/P2041December2015.pdf, http://www.mining.com/half-of-south-africas-gold-mines-operating-at-loss-report/, We use cookies to enhance the user experience and to analyse traffic. Until 2007, South Africa was, in output terms, the world’s number one gold producer. Current year and backyear gold Krugerrands are available, as well as … There are two mints in South Africa: The Rand Refinery and the South African Mint. 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. 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. var ea = 'support@'; Available in 1-ounce and 1/10-ounce coins. 1 Oz GOLD KRUGERRAND. South Africa 1/2oz 22k Gold South African Krugerrand - Varied Years From £ 770.14 View. The United States national debt stands at over $22.1 Trillion and is growing, a staggering $180 515 per taxpayer. The South African Mint silver coins, gold coins, and platinum coins remain some of the top picks for investors and collectors. The refinery is located in Germiston, to the east of the Johannesburg metropolis. Local Gold and Silver Dealers in South Africa: 1. Get in Touch . By using our website, you accept that cookies are used. Learn More, The current market sell off has been precipitated by global fears about the Covid-19 virus that has been declared a pandemic by the World Health Organisation. A must read article for every South African. 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]. 1.^ Rand refinery, 2012 Annual Report, page 46, Chairman’s review http://www.randrefinery.com/brochures/Rand%20Refinery%20Integrated%20Annual%20Report%202012.pdf, 2.^ Anglogold Ashanti http://www.anglogoldashanti.com/en/About-Us/, 3.^ Gold fields https://www.goldfields.com, 4.^ Harmony https://www.harmony.co.za/about-us/corporate-profile, 5.^ Sibanye Gold https://www.sibanyegold.co.za/the-group, 6.^ Anglogold Ashanti history http://www.anglogoldashanti.com/en/About-Us/history, 7.^ Gold Fields history https://www.goldfields.com/au_history.php, 8.^ Chamber of Mines of South Africa http://www.chamberofmines.org.za/about/members, 9.^   DRDGOLD http://www.drd.co.za/about-us/corporate-profile, 10.^ Village Main Reef http://www.villagemainreef.co.za/, 11.^ Pan African Resources http://www.panafricanresources.com/about-overview/, 12.^ Rand Refinery sourcing of gold http://www.randrefinery.com/services_sourcing.htm, 13.^ Rand refinery http://www.randrefinery.com/about_company.htm, 14.^  Rand Refinery shareholding structure http://www.randrefinery.com/about_shareholding.htm, 15.^ London Bullion Market Association(LBMA) Good Delivery referee panel http://www.lbma.org.uk/good-delivery-explained, 16.^ LBMA executive staff http://www.lbma.org.uk/our-people, 17.^ Rand Refinery cast gold bar range http://www.randrefinery.com/products_cast_bars.htm, 18.^ Rand Refinery minted gold bars http://www.randrefinery.com/products_minted_bars.htm, 19.^  Rand Refinery, Grendon International Research, September 2014 http://www.goldbarsworldwide.com/PDF/RB_7_RandRefineryGoldBars.pdf, 20.^ Rand refinery gold vault at OR Tambo International Airport http://www.randrefinery.com/services_vault.htm, 21.^ South African Mint Company http://www.samint.co.za/, 22.^ Bullion Krugerrands, Rand Refinery http://www.randrefinery.com/products_krugerrands.htm, 23.^ Proof Coin production, South African Mint http://www.samint.co.za/Proof%20coin%20production.aspx, 24.^ Krugerrands, South African Mint web page http://www.samint.co.za/2015%20Coins/Krugerrand%20Series.aspx, 25.^ Rand refinery authorised domestic distributors of Krugerrands http://www.randrefinery.com/South_African_Coin_Dealers.pdf, 26.^ South African Association of Numismatic Dealers (SAAND) http://www.saand.co.za/members/, 27.^ Rand refinery authorised international distributors of Krugerrands http://www.randrefinery.com/International_Coin_Dealers.pdf, 28.^ Johannesburg Stock Exchange (JSE) https://www.jse.co.za/, 29.^ Krugerrand trading on the JSE http://www.jse.co.za/trade/equity-market/krugerrands, 30.^ JSE Equity Rules https://www.jse.co.za/content/JSERulesPoliciesandRegulationItems/EquitiesRules.pdf, 31.^ Krugerrand Trading brochure with explanation https://www.jse.co.za/content/JSEBrochureItems/Krugerrand.pdf, 32.^ SAFEX archived link, June 2001 https://web.archive.org/web/20010601053516/http://www.safex.co.za/, 33.^ World Gold Council – Latest World Official Gold Reserves http://www.gold.org/research/latest-world-official-gold-reserves, 34.^ “The South African Reserve Bank and gold; recent economic developments in South Africa“, speech of SARB Governor at LBMA conference, Johannesburg, November 2005 http://www.bis.org/review/r051124c.pdf, 35.^ SARB, Management of Gold Reserves https://www.resbank.co.za/Markets/ForeignReserves/ManagementOfGoldReserves/Pages/default.aspx, 36.^  Gold coins purchased from the public, South African Reserve Bank https://www.resbank.co.za/Markets/GoldCoinsPurchased-Public/Pages/default.aspx, 37.^ South African Natura proof gold coins http://www.samint.co.za/2015%20Coins/Natura%20Series.aspx, 38.^ South African Protea gold coins http://www.samint.co.za/2015%20Coins/Protea%20Series.aspx, 39.^ Standard Bank commodities products. 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