Gold Coins Purchased from the Public

The South African Reserve Bank (SARB) will be purchasing gold coins from the premises of the South African Mint Company (RF) (Pty) (Ltd), until further notice.

The purchasing of legal tender gold coins from the public will be offered on Wednesdays, between 09:00 and 12:00 strictly on an appointment basis only.

Appointments can be made by emailing fmd-goldcoins@resbank.co.za or contacting the team on 012 313 4766.

Should the seller not arrive as scheduled, the seller will be required to arrange another appointment.

The physical address to the SA mint is Old Johannesburg Road, Gateway, Centurion, South Africa

GPS co-ordinates are (25°54'57" S, 28°9'22" E)

Click on this Media Release for more information.

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

These coins include:

Krugerrands
Natura series coins
Protea series coins

Commemorative R5 coins that are in circulation (circulation coins are the coins that the South African Mint produces for everyday transactions) retain their value of R5 only. The SARB does not buy back circulation coins.

Customers wanting to sell commemorative 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.

To access, click on ‘Frequently asked questions’

How much can I get for the Mandela R5 coin?

The value of the Mandela R5 circulation coin remains R5. However, the gold Mandela coins that form part of the Natura series of gold coins are bought by the SARB at the prevailing gold price.

What price can you give me for my 1979 1 oz Krugerrand?

The SARB will only pay for the gold content of any Krugerrand, and Protea or Natura series gold coins 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 or collectability of any coin(s) offered for purchase by the SARB. Authorised coin dealers or coin collectors are 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 coins based on their scarcity and condition.

Does the SARB provide parking for clients who wish to sell back their gold coins?

The SARB does not have parking available for the public. Clients can consider using the parking offered by the State Theatre and Sammy Marks Square, as both are in close proximity to the SARB.

Where can I buy Krugerrands / can I purchase gold coins from the SARB?

The SARB does not sell coins to the public. Gold coins, including Krugerrands, can be purchased from the South African Mint or authorised coin dealer. A list of accredited authorised gold coin dealers is available on the South African Mint website.

What price can I expect the SARB to pay for my Krugerrands or other acceptable gold coins?

The prevailing market gold price and dollar exchange rate are used to calculate the price offered for gold coin(s) on the day of selling.

What is the procedure for selling gold coins to the SARB?

The purchasing of legal tender gold coins from the public is offered on Wednesdays, between 09:00 and 12:00 strictly on an appointment basis only. More information and contact details are provided on this SARB webpage.

Which gold coins are bought back by the SARB?

The SARB buys Krugerrands, and Protea 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 or collectability of the coin. Authorised coin dealers or coin collectors are more likely to pay a premium for collectable coins.

Krugerrand

Obverse (front) view; click on coin to see reverse (back) view

The flagship product of the Krugerrand family, the 1oz gold Krugerrand’s classic size has been central to the Krugerrand collection for over 50 years.

The obverse of the coin bears a bust of Paul Kruger, who was South Africa’s president at the time the original Krugerrand was first introduced. The reverse of the coin features a prancing springbok and the year the coin was minted, with the word ‘Krugerrand’ above the animal and the gold content below.

Click here to see more Krugerrands.

Natura

Obverse (front) view; click on coin to see reverse (back) view

The Natura series was South Africa’s first fine gold series and was first released by the South African Mint in 1994. The designs are inspired by South African wildlife and each edition showcases an animal native to South Africa.

The obverse design of a Natura series gold coin usually consists of an animal, the mintage year, and the inscription ‘SOUTH AFRICA’. The reverse design varies each year, sometimes displaying the weight and purity. The engraving ‘NATURA’ forms part of the design.

Click here to see more Natura series.

Protea

Obverse (front) view; click on coin to see reverse (back) view

On occasion, the South African Mint releases special products, often to commemorate a special event or award. Protea coins were first introduced in 1986.

The obverse has an image of the king protea, the national flower of South Africa. Each reverse bears a different attractive design based on the theme for that year.

Click here to see more Protea series.

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 not older than three months (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.

Legal persons

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).
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 or 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/smart identity card or a valid temporary identity document, or a valid South African passport, or a valid driver’s licence card
letter of executorship; and
proof of address not older than three months.