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I attempted to open and Share invest/Krugerrand account to buy a substantial amount of Krugerrands due the price of gold at a low. It is a ponzi-scheme and will be exposed when a large number of investors demand redemption of the physical metal. Krugerrands are exempt from Value Added Tax. FNB will sell the full range of Krugerrands, ranging from 1/10, ¼, ½, and full one ounce coins. FNB will be hoping that a small percentage of people take the option of taking delivery of the coins. From what i know about the ABSA ETF, each unit is a fraction of an ounce of gold without the option of ever taking delivery of the gold. Although gold is down around 35% in US dollars since the end of 2011, it is actually up around 38% in rand value, increasing from around R13 000 per ounce in October 2011 to around R18 000 this year. The price of the trade is calculated according to the price of Gold on that specific day. I own my gold outright, it is vaulted in my name, insured and perfectly liquid for cash redemption and available for delivery on instruction. Krugerrands Krugerrands are ounce-denominated gold bullion coins that have been designed for investors around the world who wish to invest in gold. FNB is, as of today, giving clients the ability to purchase krugerrands through its online share trading facility. Read more news, blogs, tips and Q&As in our Smart Money section. Therefore, if you buy gold today, you need a strong conviction that the gold price will continue to increase significantly. Call 011 646 1919 For Quick Quotes Buy You need to go to the coin shop, sign some documents and prove your identity before you can take possession of your Krugerrands. NO SCAMS! Does FNB know that promoting gold as money will ultimately lead to its own undoing? Transactional account They’re the most popular traded coin in the world today. Post questions on the site for independent and researched information. This presents a security risk for the purchaser, who must transport the coin and also find a safe place to store it at home. With FNB Share Investing, you are able to invest in the full range of Krugerrands (1/10, 1/4, 1/2 and 1oz). These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever. FNB offers investor education on gold and Krugerrands on its website. FNB App How-to guides Register with Online Register without Online Add beneficiary Pay recipient Manage cards Buy prepaid electricity Buy prepaid airtime and data Send eWallet Download verified statement Secure Chat® I interpret that to mean you actually own a coin. [CURRENT GOING RATE KRUGERRAND R20,000] Get paid up to R20,000 in cash for your Krugerrands! For those who did buy at the peak of the gold price ‒ when priced in US dollars ‒ the good news is that in rands, you would still have made a good profit. I acquire my physical gold bullion Krugerrands via SA Bullion and pay a fixed 3% over the gold price. This was 22 Dec. Through FNB’s offering you guy buy all four different sizes of Krugerrands. STEP 4: Click on the Menu tab. Thanks!I want to buy Krugerrands gold coin.But i have not any storage solution for this.I am searching a bank.Can FNB give me solution of this problem. “Our investment in the digital platforms ensures that customers are well-equipped to manage their banking at any given ~Michael Corleone. You can have custody of the coin if you wish — the choice is yours. STEP 1: Login to Online Banking. Simply view the various coin weights, make your selection and buy. The ABSA gold ETF (GLD) is fully backed by gold. Permission to reprint in whole or in part is gladly granted, provided full credit is given. Custody fee will be 0.86% per annum, which includes insurance. STEP 5: Select Krugerrands on the Buy menu. You will have the choice of trading Krugerrands through online and call-centre channels — the latter have been set up as some customers prefer to speak to a person when investing. The physical coin will be kept at the Rand Refinery, which is where SA Bullion also stores its bullion. Various sizes are available for purchase and there will be no transaction fee. Bullion Krugerrands trade purely on their gold content while the limited edition launch sets which are collector items All material © Mail & Guardian Online. FNB is now offering ownership of physical gold with safe custody and a guaranteed buy-back offer if the coin’s held securely at Rand Refinery. FNB currently sell at R 18,347.38 and guarantee to buy back at R 17,629.44 if you store the krugerrands with them - a difference of about R720. The first Krugerrands were minted in 1967 and since then in excess of 50 million ounces are in circulation globally. Despite dozens of appeals, the South African government is determined to give Sasol and its partners the go-ahead. STEP 3: Select the account you want to use for the transaction. We have as of yet not been able to establish whether FNB’s arrangement with the Rand Refinery and you is a bailment transaction, where you as the investor has see-through and owns the physical directly, so if FNB goes belly up or if you choose to take delivery of the physical immediately, they’ll be obligated to deliver the metal. You can use FNB’s online banking platform to buy and sell Krugerrands. But, unlike when you keep them at … FNB hopes to make investing in gold easy and hassle-free, says Gusta Binikos, CEO of FNB Share Investing. Buying and Selling is Easy The price of a Krugerrand is directly linked to the ruling international spot gold price, Krugerrands are simple to buy and sell as you know exactly what price you should pay or get paid. STEP 6: Select the denomination you want to purchase. Made from 22-carat gold, they’re sought after for their intrinsic value and there are over 46 -million ounces of coins in circulation. The moneyweb article says “FNB is offering ownership of physical gold with safe custody”. Investgold offers a wide variety of gold and silver limited edition coins/medallions. Gold ETF’s operate on a fractional reserve basis, which means they do not own all the physical underlying at all times. Krugerrands are typically purchased at retail coin outlets. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription. "Politics and crime, they're the same thing." We are based in the former USA Consulate building opposite Killarney Shopping Centre. But activists will not stop the fight, A decision on the local government elections, set to be held later this year, will be taken soon, The acute nature of the pandemic has galvanised civil society to demand better accountability. I also do not have to pay a monthly service charge as the BullionGold Facility they provide is free to operate. The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. Step 5: Select the account you want to use for the transaction during,... You buy gold today, a one-ounce Krugerrand coin is worth about R10.! View the various coin weights, make your selection and buy Krugerrands and other.! African Union peacekeepers have been designed for investors around the world today a large number investors... 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