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A 1000 gram cast silver bar
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Gold bar 100 grams
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What is Precious Metal?
Gold is a refined and marked mass of precious metal, usually gold, silver, platinum or palladium. It provides a practical, marketable format for precious metals and ensures a recognized weight and quality that can be bought or sold at the current price for that specific precious metal. Krugerrands are simply coin-shaped bars.
Add Bullion to your investment portfolio
As an investment, the precious metal offers:
- A long-term source of profit
- A diversification tool that can limit losses during periods of market stress
- Liquid assets with no credit risk outperforming fiat currencies
- A way to improve overall portfolio performance
Highly liquid but rare assets
Including Bullion as a percentage of your investment portfolio may result in higher risk-adjusted returns over time, although this cannot be guaranteed.
Krugerrands are 22 karat gold coins with a gold purity of 91.67%. The reason for its minting was to promote South African gold in international markets and further strengthen the position of individuals who own gold bullion. To this day, Krugerrands are still among the best selling gold coins in the world.
The first of these 22 karat gold coins was minted on 3 July 1967 through a collaboration between the South African Mint and the Rand Refinery.
This famous gold coin is named after former South African President Paul Kruger, as well as the South African "rand" coin. Paul Kruger was President of South Africa from 1883 to 1900.
Each Krugerrand is mined from 22K gold with a purity of 91.67%, which means that each Krugerrand contains exactly 1 TROY Oz of pure gold. The remaining weight is attributed to the copper alloy, which is added to the coin to increase resistance to “circulation processes”.
Over the last twenty years, the price of gold in South Africa has increased by no less than 1,101.59% (August 2021).
Yes, the gold price is “dollar denominated”, which simply means that gold is always quoted in US dollars. This means that even if you buy a Gold Krugerrand in South Africa for South African Rand, the price of that Krugerrand is actually set in US Dollars and only converted to South African Rand at the time of purchase.
Our “Buy Price” is the spot price, the current asking price for gold in the general market at any given time. Our selling price is the spot price plus 7%.
Central reserve bank:When central banks invest in gold, they buy large amounts at once. In this way, they create a high demand for gold at any given time and, in doing so, usually increase its price. The same happens when central banks sell gold to the market. Under these circumstances, they often sell large quantities at once, reducing the demand for gold and lowering its price.
Amount in US Dollars:There is an undeniable relationship between the value of the US dollar and the price of gold. It's the reverse, which simply means that when the US dollar strengthens, the price of gold tends to fall. When the US dollar weakens, the price of gold tends to rise.
Global jewelry demand:When the demand for gold jewelry increases around the world, the price of gold will undoubtedly increase as well. The reverse is also true, because when the demand for gold decreases worldwide, its price will inevitably fall.
Ask about investments as wealth protection:In times of global or national financial instability, investors will often miss out on expected returns from bonds, stocks and real estate investments. Therefore, the demand for gold usually rises sharply, and when it does, the price rises as well.
Inflation:When inflation in the US increases, the value of the US dollar automatically decreases. At the same time, most other areas of investment typically do not provide investors with returns in excess of inflation. That's why many investors turn to gold, which is widely seen as a hedge against inflation and currency devaluation. Under such circumstances, the demand for gold will increase and with it the price.
Buying Krugerrands is an excellent way to diversify your investment portfolio, as gold is widely regarded as a proven hedge against inflation and currency devaluation. It is also widely recognized as a “liquid asset”, meaning that it can be quickly and easily converted into cash while maintaining its market value. One of the biggest benefits of owning gold Krugerrands is that they are legal tender, meaning that no VAT is charged on either buying or selling them. From a South African point of view, Krugerrands are readily available, much more easily than most other gold coins. Finally, as one of the world's most famous and recognizable gold coins, the Krugerrand can be traded virtually anywhere in the world.
Profits from the sale of Krugerrands are taxable. As gold does not pay interest or dividends to its holders, those who invest in it do so mainly to make a profit by increasing the price of gold. SARS therefore argues that a taxpayer who decides to invest in Krugerrands should consider selling them at some point in the future. Hence the pursuit of profit, which in turn is subject to taxation.
Taxpayers who decide to invest in tangible assets such as Krugerrands should exercise caution and document the reasons for their decision to invest in these assets. Furthermore, your subsequent actions must always support the stated intentions. Failure to do so could make it difficult, if not impossible, to demonstrate why Krugerrand income should not be taxed. This means that if you invest with no intention of selling in the near future, you can argue that the income is not taxable.
In the event that Krugerrands are sold without any record of the purchase price of the relevant currencies, the following rules will apply: Section 1 of the Eighth Law, which stipulates that the asset base must be determined the day before valuation in accordance with Section 26- 9. Article 26.º, no. 2, foresees that, in case it is impossible to determine the expenses on the day before the assessment, the taxpayer will apply the market value method (no. 29) or the 20% return method.
Gold Krugerrands are specially designed to be legal tender, so no VAT is charged on their purchase or sale.
At Mr K we are specialists in buying and selling bars. So we are well trained and equipped to know what to look for in relation to Bullion's potential shortcomings. Second, the fact that we buy directly from the Rand Refinery gives our customers confidence that the Krugerrands purchased from Mr. K. are authentic and of the highest quality. When we buy Bullion from the public, we are more sensitive to the authenticity and quality of the products in question. That's why we carefully check the entire Bullion range for possible defects that could reduce the value of the item. We perform all five checks on every Krugerrand purchased from customers, including a “Ping Test” to ensure authenticity. We also ensure that all our employees are properly trained in these processes so that they know what to look for and what to listen for in the context of the aforementioned “ping test”.
Cryptocurrencies are the opposite of Bullion in many ways. The most obvious difference between the two is that cryptocurrencies are fully digital whereas Krugerrands are physical gold products. Another significant difference between the two is that the amount of “coins” within a given cryptocurrency is deliberately limited to closely monitor supply and demand, whereas Krugerrands will likely be produced as long as gold can be mined. The last major difference between the two currencies is that cryptocurrencies are much more volatile than Krugerrands, with most currencies regularly experiencing rapid and unpredictable changes. Krugerrands, on the other hand, have proven to be much more volatile and therefore an ideal long-term investment.
Although both gold reserves and the Krugerrand belong to the total gold market and both are depreciated in dollars, the two investments are drastically different. Gold stocks generally refer to an investor's "percentage interest" in a larger gold unit or company operating in the gold industry. These stocks are typically digital in nature and highly regulated in terms of supply and demand. Unlike gold stocks, the Krugerrand is a material investment. The spot price fluctuates in correlation with the exchange rate of the dollar against the rand, as well as the appreciation of gold itself. Unlike gold shares, the Krugerrand can be kept physically safe by the investors themselves, eliminating the risks associated with digital organization.
The silver and gold Krugerrands weigh 10z in total. The silver Krugerrand is made of 99.9% pure silver. Krugerrand gold is made from 22 karat gold with a purity of 91.6%. The right amount of copper has been added to golden Krugerrand to make it more durable. This is especially necessary for Gold Krugerrand as it is an outstanding product. Gold Krugerrand is also considered legal tender, while Silver Krugerrand is not. Therefore, no tax is levied on transactions related to the purchase and sale of Gold Krugerrands. Silver Krugerrand, on the other hand, is not legal tender and therefore tax is levied on all purchases and sales.
The South African based refining and smelting company "Rand Refinery" is the sole producer of Krugerrands.
Mr. K. is one of the few registered organizations to purchase Krugerrands directly from the Rand Refinery. Mr. K offers his customers the option of buying “freshly minted” Krugerrands or Krugerrands that were already in circulation.
This potential “color difference” can be attributed to the origin of the gold-copper alloy in the Krugerrand itself. Gold can potentially vary in color depending on the specific area it was mined from, just like copper. As Krugerrand products are in circulation, copper is added to increase their long-term durability. For example, Krugerrands are 22 karat gold instead of 24 karat gold.
The Krugerrand Proof Copy is not a circulating coin but is permanently sealed so it is never opened or touched. These coins are placed in sheaths or capsules to fulfill the above mentioned purposes. Proof Krugerrands also have a unique appearance, which sets them apart from circulating Krugerrands produced for circulation. Proof: Krugerrands have a matte finish with a glossy undertone. Both the production costs and sorting costs associated with these coins are higher than for regular Krugerrands. Therefore, it is only produced to order. Evidence Krugerrands are primarily intended for the collector's market.
When purchasing Proof Krugerrands from our customers, Mr. K is required to remove these coins from their concealed packaging to inspect them for any defects. In this way, the coins in question lose their proof status. As such, they can only be purchased at the price of the Krugerrand in circulation.
Numismatic coins are intended for the collectors' market. From an investment point of view, numismatic coins normally require a much longer investment period. The main reason is that few organizations buy numismatic coins for their collectible value. Most gold organizations buy these coins just for the value of the metal. However, Mr. K. prefers to focus primarily on the Krugerrands.
Mr K is proud of our South African heritage which is why we primarily deal in precious metals produced and manufactured in South Africa. Sourcing South African precious metals is also much easier than international precious metals , as importing precious metals can be very costly and time consuming. If you do, the gold price will only rise unnecessarily. That's why Mr K prefers South African gold, as it is made from the same metals as its counterparts and can be purchased at a fraction of the price.
We cannot consider a Bullion product sold until we have received cash equal to the value of the item(s). Therefore, we require that all “approved quotes” be immediately approved and accounted for. Only in this way will customers be able to receive the items purchased at the indicated price. If the resources related to the purchase of ore appear after the predetermined dates (provided to customers at the time of listing), the relevant rate will undoubtedly change, according to the gold market itself.
We also keep a minimum stock of precious metals at our various points of sale. These shares are traded on a first-come, first-served basis, further underscoring the importance of prompt settlement for all EFT buyers. In most cases, however, we will have to order purchased Bullion products. In these circumstances, as normally happens, we cannot order products until the entire amount purchased has been credited and fully credited to our bank account.
Banking costs for debit or credit card payments are very high.
In order for Mr. K to comply with the terms of our license agreement, we ensure that all necessary administrative processes are strictly followed as set out in our aforementioned license agreement. In this way we protect ourselves as an organization, our employees and especially all our customers. However, we ensure that the relevant administrative processes are carried out quickly and easily, so that customer satisfaction is guaranteed.
As a respected gold buyer, we are pleased to accept gold coins from other countries at a predetermined gold price per gram, applicable at any time, based on coin weight and purity. That's why we follow the same processes used when purchasing other recycled precious metal items.
Mr. K. will purchase all Krugerrands at prevailing commodity prices, provided the currencies meet industry standards. For current purchase prices, visit our pricing page on our website. To sell us your Krugerrands, simply take them to your nearest Mr K store and we'll buy them back in a transparent and highly professional way.
When saving Krugerrands you have three options:
1. You can store it in a secure location of your choice, such as your home or office. Please note that keeping Krugerrands in a safe place or any other "obvious place" is not recommended.
2. You can keep it in the vault of a commercial bank or other service provider.
3. You can use the Mr. Safe Custody add-on service.
South Africans may not export Krugerrands without authorization from the Central Bank of South Africa. Tourists or foreign visitors may export fifteen one-ounce Krugerrands into passports, provided the coins in question were purchased in foreign currency.