African Reserve Bank (SARB) only purchases gold coins that are deemed to be
legal tender. These coins include:
Natura range coins
Protea range coins
wanting to sell commemorative gold coins or gold coins that are not deemed to
be legal tender should approach a coin dealer.
including proof coins, are purchased for their gold content at the prevailing
gold price. Customers are paid out in rand. Payments to customers are processed
electronically and customers receive funds directly into their bank accounts. A
receipt is handed to the customer at the time of concluding the transaction.
purchases gold coins from the public from Monday to Friday between 08:30 and
12:00 at the SARB Head Office in Pretoria. These hours are subject to change
during the festive season.
required for gold coin transactions
case where the person is, for a reason acceptable to the SARB, unable to
produce any of these, the SARB may accept the following:
valid South African passport;
valid driver’s licence;
valid temporary identity document issued by the Department of Home Affairs; or
birth certificate for a minor not yet in possession of an identity document.
Proof of address less than three months old (e.g. telephone account, rates and taxes account, levy account and retail accounts) must be provided by the seller. In a case where the seller is unable to provide the bank with proof of residential address, an affidavit would be considered as proof of the seller’s address. An affidavit should be in the form of a sworn statement from a commissioner of oaths such as the South African Police Service (SAPS) attesting to the correctness of the information given under oath.
where a client is acting on behalf of another person, the identity of the other
person will be verified and the client’s authority to conclude the transaction
on behalf of the other person will be established.
event of the lawful owner being a company or a close corporation (CC), the
registered name as well as the trading name should be provided if the two
differ. The physical address from which the company/close corporation operates
should also be provided (if multiple addresses, the street address of the
office wishing to sell the coin and the Head Office address must be obtained
and verified). In order to verify the
identity of the above, the following documents will be sufficient:
bank statement on official bank documentation, utility bill (municipal water
and electricity account or Property Managing Agent);
lease or rental agreement;
rates and taxes invoice;
or cellular telephone account; or
South African Revenue Service (SARS) document (not e-filing documentation).
Certified copy of death certificate
Certified copy of identity document
Confirmation letter of the estate account from the bank
A valid green barcoded identity book/smart identity card or a valid South African passport, a valid driver’s licence or a valid temporary identity document
Letter of executorship
Proof of address not older than three months