The South African Reserve Bank (SARB) only purchases gold coins that are deemed to be legal tender. These coins are:
- Natura range
- Protea range
Coins, 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.
When selling gold coins to the Bank, customers are required to produce:
- their original bar-coded identity document (ID book),
- an original bank statement, not older than three months, and
- an original proof of residence in the seller’s name, in the form of a utility account (for example, water and lights account), not older than three months.
Bank statements obtained over the counter must be stamped by the issuing branch.
Where the seller of the coin is not the registered utility account owner an affidavit must be obtained from the registered owner, confirming that the seller resides in the registered owner’s residence. In this instance, the affidavit must be accompanied by a certified copy of the registered owner’s identity document.
The SARB purchases gold coins from the public from Monday to Friday between 09:30 and 13:00. These hours are subject to change during the festive season.
The public may sell qualifying gold coins at the Head Office in Pretoria or any of the following branches:
- Cape Town
- Port Elizabeth
- East London
Customers wanting to sell commemorative gold coins or gold coins that are not deemed to be legal tender should approach a coin dealer.