Gold Coins Purchased from the Public

The SARB only purchases gold coins that are deemed to be legal tender.

The South African Reserve Bank (SARB) will resume the limited service of purchasing of gold coins from the public at the SARB Head Office. The purchasing of legal tender gold coins from the general public will be offered on Wednesdays, between 08:30 and 12:00 on an appointment only basis.

Click on this Media Release for more information.

These coins include:

Krugerrands
Natura range coins
Protea range coins

Customers wanting to sell commemorative gold coins or gold coins that are not deemed to be legal tender should approach a coin dealer.

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.

The SARB 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.

How much can I get for the Mandela R5 coin?
The value of the R5 Mandela circulation coin remains R5-00. However, the gold Mandela coins forming part of the Natura series of gold coin are bought back by the SARB at the prevailing gold price.

What price can you give me for my 1979 1-ounce Krugerrand?
The SARB will only pay for the gold content of Krugerrand, Protea or Natura series gold coin offered. The prevailing market gold price and dollar exchange rate are used to calculate the price offered for the coin/s on the day of selling. It should be noted that no premium is paid for the scarcity/collectability of any coin/s offered to the SARB. Authorised coin dealers or coin collectors are therefore more likely to pay a premium for collectable coins.

Does the SARB pay a premium for proof coins?
The SARB only pays for the gold content of the coins offered. However, proof coins can be sold to an authorised coin dealer or coin collector who might be willing to pay a premium for the coin based on scarcity and condition.

Does the SARB provide parking for clients who wish to sell back their gold coins?
Unfortunately, the SARB does not have parking for the public. Clients can consider using the parking offered by the State Theatre and Sammy Marks Square as it is close to the SARB.

Where can I buy Krugerrands?
Gold coins can be purchased from an authorised coin dealer or the South African Mint. A list of accredited authorised gold coin dealers is published on the website of the South African Mint at the following link: https://www.samint.co.za/collectable-coins/authorised-dealers/

What price can I expect the SARB to pay for my Krugerrand or other acceptable gold coins?
The prevailing market gold price and dollar exchange rate are used to calculate the price offered for the coin/s on the day of selling.

Can I purchase gold coins from the SARB?
The SARB does not sell coins to the public. However, Krugerrands, Protea, and Natura series gold coins as well as a variety of other commemorative coins minted not only in gold can be bought from the SA Mint or an authorised coin dealer (link to SA Mint website with authorised dealers).

What is the procedure for selling gold coins to the SARB?
Clients need to present the gold coin/s to the gold coin teller at the SARB Head Office in Pretoria with proof of residence, proof of ID and a bank statement. Exact detail is provided on this webpage (link to website). It is important to note that the prevailing market gold price and dollar exchange rate are used to calculate the price offered for the coin/s on the day of selling.

Which gold coins are bought back by the SARB?
The SARB buys Krugerrand, Protea series and Natura series gold coins from the public. However, the SARB will only pay for the gold content of each coin and no premium is paid for the scarcity/collectability of the coin. Authorised coin dealers or coin collectors are therefore more likely to pay a premium for collectable coins.

Documents required for gold coin transactions

Private clients

A valid green barcoded identity book or smart identity card. If the person is, for a reason acceptable to the SARB, unable to produce either of these, the SARB may accept the following:
- a valid South African passport;
- a valid driver’s licence;
- a valid temporary identity document issued by the Department of Home Affairs; or
- a 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). If the seller is unable to provide proof of residential address, an affidavit may be considered instead. An affidavit should be in the form of a sworn statement from a commissioner of oaths such as the South African Police Service attesting to the correctness of the information given under oath.
Bank statements: an original bank statement, not older than three months, or a bank statement not older than three months obtained over the counter and stamped by the issuing branch.

Proxy

In cases 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.

Company/Close corporation

In the event of the lawful owner being a company or a close corporation, 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 there are 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:

Close corporation: Founding Statement and Certificate of Incorporation or Amended Founding Statement.
Company: Certification of Incorporation and Memorandum of Incorporation, and any other forms amending company information, as applicable (e.g. certificate of change of name of company).
Listed and public companies: No verification documents are required.
Other legal entities such as organs of state: A valid identity document of the person representing the company must be provided.
In order to verify the address of the company/close corporation, any of the following documents will be acceptable:
- A bank statement on official bank documentation or utility bill (municipal water and electricity account or a letter from a property managing agent;
- Recent lease or rental agreement;
- Municipal rates and taxes invoice;
- Telephone or cellular telephone account; or
- Official South African Revenue Service document (not e-filing documentation).

Deceased estate

For the deceased:

Certified copy of death certificate;
Certified copy of identity document; and
Confirmation letter of the estate account from the bank.

For the executor(s):

A valid green barcoded identity book, a smart identity card, a valid South African passport, a valid driver’s licence or a valid temporary identity document.
Letter of executorship; and
Proof of address not older than three months.