Invest in Krugerrands with FNB

[gregmcc]

Just got a mailer from FNB - looks pretty interesting. Might be worthwhile investing in. Anyone bought any yet?



Not only is gold one of the deepest rooted influences of South African history, but it's also one of the safest investments you can make.
With FNB Share Investing, you are now able to privately invest in coveted Krugerrands in a completely secure environment. You can trust us to keep your investments safe at Rand Refinery Ltd. We also guarantee to buy them back from you when you're ready to sell.

[mercurial]

Link?

EDIT: https://www.fnb.co.za/share-investing/krugerrands.html

[alf101]

Just got a mailer from FNB - looks pretty interesting. Might be worthwhile investing in. Anyone bought any yet?

There's a kruger rand machine at the waterfront if you want to buy some.

[kokzn]

My question is, will the ROI on this cover the monthly service fees? R17pm or R45pm depending on with package you trade.

[Voicy]

You can trust us to keep your investments safe at Rand Refinery Ltd. So you don't actually get to keep the kruger rand? So you're dealing in pretend-gold now. How does that differ from money? Since money is just a reflection of the amount of gold you have to barter with.

Buy certified kruger rands from SAcoin or somewhere with the quality grading etc on it. That way it may even become more valuable.

[gregmcc]

My question is, will the ROI on this cover the monthly service fees? R17pm or R45pm depending on with package you trade.


Thats a a good question. I already have a share builder account, but if I read it correctly its an additional R17 a month to trade in this.

[McT]

Investing depends on your financial needs and what your investment portfolio requires. Gold price is based largely on sentiment and could collapse at any time. Conversely it could rocket to new highs. There are safer or more aggressive opportunities. It depends on your financial plan though. Get sound advice before you invest.

[Kamdogg]

Have you ever tried to insure a KR that's in your own possession at home? how much does that cost? and will they insure it for a specified value or for the actual coin price at the time of theft? i think keeping it at Rand refinery, where the country's gold is stored will be worth it. Besides, the article on moneyweb says you can take delivery if you want.

Also for R17/R45 a month, surely you'd get tax statements on sales and other run of the mill services.

i would have to see what their margins are though before I go out and buy a coin. But i'm happy to consider the option. And as long as I am not limited to whatever the coin dealer has in stock! Does anyone know if they have intraday pricing? Coin dealers price coins in the morning only and trade on those prices for the day

[Rubberpigg]

Stay away from SACOIN!
Very dodgy company!!


SA Coin Corporation CEO Mark Andersen has faced a tough round of questioning in the Randburg Magistrate's Court after being accused of reneging on a contract with a collector.

Dave Owen paid Andersen R100 000 upfront in exchange for nine rare South African coins that were supposed to be delivered within 12 months.

Almost four years later, Owen is still waiting for four of the coins.

Andersen argued that after the deal had been struck with Owen, the market accelerated at such a rate that he stood to lose a substantial profit by honouring it.

Owen's legal counsel Carlos Tiefenthaler told Andersen that he had no intention of honouring the agreement and had in fact asked for the 12-month deadline to be extended twice – this while the market kept accelerating.

He also claimed a clause in the contract gave the corporation the option of returning Owen's R100 000 if the company could not produce the coins within the deadline.

Tiefenthaler said the clause was not in the original sale agreement.

Judgment in the case is expected early next month.

SA Coin Corporation ‘lied to customers’
Published in: Legalbrief Today
Date: Wed 07 November 2007



Coin collector Dave Owen has welcomed the judgment in his case against the South African Coin Corporation.

The Randburg Magistrate's Court ruled in favour of Owen, ordering the corporation's CEO Mark Andersen to pay R130 000 in damages plus interest.

Andersen will also have to foot both sides' legal bills.

The court found Andersen had failed to honour an agreement by not providing Owen with the rare coins that he had paid for upfront.

Owen's legal counsel Carlos Tiefenthaler says the ruling is a victory for all coin collectors.


And check out Hellopeter as well.

[gregmcc]

Here's a pdf (https://www.fnb.co.za/downloads/KrugerRand/Krugerrands_FAQs.pdf) to the FAQ on the FNB site which should answer most questions.

[GQ777]

I just read the PDF. Thanks. They FNB are still paying 6-8% over the Gold Price for the Krugers from the Refinery. I acquired my bullion krugerrands through SA Bullion through my BullionGold Facility held with them, I acquired at 3% over spot. There is also no monthly charge for the facility and they provide ongoing vaulting and storage too. To my knowledge, they are the lowest cost suppliers of Krugers, the deal only in the 1oz, and offer vaulting arrangments too. They have provided me with an excellent service to date. www.facebook.com/sabullion for their updates on the gold market