Where To Buy Krugerrands In Namibia
What are Krugerrands?
The Krugerrand is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic, and rand, the South African unit of currency.
What are Krugerrands used for?
Krugerrands are gold coins that were minted by the Republic of South Africa in 1967 to help promote South African gold to the international markets and to make it possible for individuals to own gold. Krugerrands are among the most frequently traded gold coins in the world market.
Overview of Krugerrands
Krugerrands are gold bullion coins of South Africa, originally produced in 1967. The coins are extremely popular with investors; over 50 million have been produced and sold as of 2018. Krugerrands are made up of only 91.67% gold but contain one full troy ounce of gold.
List of Stores/Shops and Goldsmiths Selling Krugerrands in Namibia
NamibGold Bulk Gold Trader
Herrle & Herma Jewellers
Bock A Jewellers
Frequently Asked Questions (FAQs)
Below are questions in relation to getting access to Krugerrands in Namibia;
How do Krugerrands work?
A Krugerrand is simply Gold bullion minted in the form of a one-ounce coin (or smaller denominations thereof). Krugerrands, therefore, ring-fence the value of the portfolio and reduce the risk of adverse price movements due to the Rand depreciating.
Are Krugerrands a good investment?
Investing in gold or silver Krugerrands can be an excellent investment because the precious metals used to create them has a secure underlying value that has increased in value for thousands of years.
Why are Krugerrands so popular?
Krugerrand became so popular worldwide it inspired other nations to mint their own 1-ounce gold coins, such as The Canadian Gold Maple Leaf, Australian Nugget, Chinese Gold Panda, American Gold Eagle and British Britannia coins. In general gold coins have a common advantage over bullion bars and jewelry.
How much is a Krugerrand worth?
In recent years, Gold Krugerrands have been worth $1,275 on average. The current ask purchase price per ounce for one gold Krugerrand is: $1,970.20*.
Is a Krugerrand 24k gold?
24k gold is 99.99% pure, and the coins made from it weigh precisely 1 troy ounce. South African Krugerrands (gold with only copper added)
Can you still buy Krugerrands?
Buying Gold Krugerrands is an easy and simple process. You can buy them online for Delivery or Storage using the BUY button or you can call our office to place your order over the phone. We sell Gold Krugerrands and all major bullion bar and coin products and you can pay by bank wire, by credit card or by debit card.
Are Krugerrands illegal in the US?
Ultimately, the United States banned the import of Krugerrands in 1985. Many investors misunderstood this ban and thought that Krugerrands were illegal to own in the U.S. (the import ban has been lifted, so it is now legal to import Krugerrands again.)
How many Krugerrands can I travel with?
Non-resident visitors may export up to 15 Krugerrand coins or the equivalent in fractional Krugerrand coins, supported by the prescribed SARS customs declaration, provided that they can prove that the coins were acquired with the proceeds of foreign currency brought into South Africa.
How do I sell my Krugerrands in Namibia?
Re: Best way to sell gold krugerrands? You can sell them to any gold dealer I am sure. They are minted coins probably one troy ounce and the value is linked to whatever the price of gold is per ounce. I don’t think that the condition of the coin will make any difference.
Is now a good time to buy Krugerrands?
Selling a Krugerrand is a great market to have at the moment. It is a great time now to buy as the products are at such a great rate. Krugerrands are issued by the South African Reserve Bank.
Do you pay tax on Krugerrands in Namibia?
The taxation of the proceeds of the sale of Krugerrands is not covered by any specific tax legislation. In terms of that rule, the sales proceeds of shares held for more than three years are taxed as capital
Are all Krugerrands worth the same?
Krugerrand value is also driven by a coin’s actual grade, or condition it’s in. An uncirculated coin is going to be worth more than the one that has been worn by circulation. Additionally, depending whether the coin is of bullion, proof or non-proof edition will drive Krugerrand value up or down.
How do I buy FNB Krugerrands?
All savings + investment accounts
STEP 2: Select the Shares + Gold tab. STEP 3: Select the account you want to use for the transaction. STEP 4: Click on the Menu tab. STEP 5: Select Krugerrands on the Buy menu.
Do you pay capital gains on Krugerrands?
Yes. All coins produced by the Royal Mint that qualify as British legal currency are exempt from Capital Gains Tax. This includes all silver and gold Britannia coins and post-1837 gold sovereign coins, including proof sets. You can make unlimited tax-free profit on investments of any value on these coins.