Krugerrands

[Albert Broco]

I think you mean ounce. Otherwise let me know where you got it and I can go get me a few pounds at that price.

Yes. One ounce. Just go to facebook and search for South African Coin Collectors. There are quite a few of them. The Krugerrands are being auctioned there by dealers across the country.

 

[rietrot]

Yes. One ounce. Just go to facebook and search for South African Coin Collectors. There are quite a few of them. The Krugerrands are being auctioned there by dealers across the country.

So if u get them from Facebook how do u verify they are the real Krugerrands?

 

[Albert Broco]

So if u get them from Facebook how do u verify they are the real Krugerrands?

I only deal with dealers. Here is one from last night - a ¼ Krugerrand bought for 4900. I collect them personally from their store. Most of the people dealing in Krugerrands are dealers. But, now and then you do get a private person who sells their coins. I do not like buying from them, but if they are close by, you can at least go and verify the coin.

 

[Arthur]

So if u get them from Facebook how do u verify they are the real Krugerrands?

I'd never buy without first testing.

I use an accurate scale (0.01g resolution), the Fisch tester, a ringer, and the Gold Coin Balance.

The best titanium fakes pass almost all tests other than ringing the coin, X-ray, and physically filing away a rim to check.

Be careful of unofficial dealers. Don't leave your coins with them to test, or don't let them out of your site when testing. Unofficial dealers might well swap out your genuine coins and offload a fake to you.

Fake KRs are increasingly common, so take care.

 

[gimpex]

I'd never buy without first testing.

I use an accurate scale (0.01g resolution), the Fisch tester, a ringer, and the Gold Coin Balance.

The best titanium fakes pass almost all tests other than ringing the coin, X-ray, and physically filing away a rim to check.

Be careful of unofficial dealers. Don't leave your coins with them to test, or don't let them out of your site when testing. Unofficial dealers might well swap out your genuine coins and offload a fake to you.

Fake KRs are increasingly common, so take care.

Ringing the coin - do you mean measuring the thickness and diameter ?

 

[Arthur]

Ringing the coin - do you mean measuring the thickness and diameter ?

No. Putting it in a special holder with a little striker and ringing it like a bell. Gold coins have a distinctive ring (like a tuning fork). Titanium fakes don't ring, have a dull thud.

The Fisch and GCB accurately test for diameter and thickness.

 

[gimpex]

No. Putting it in a special holder with a little striker and ringing it like a bell. Gold coins have a distinctive ring (like a tuning fork). Titanium fakes don't ring, have a dull thud.

Interesting , never heard of it. Thanks

Gold coin balance and common sense ( buy the buyer ) is what I use but will look into this ringer.

 

[Albert Broco]

Ringing the coin - do you mean measuring the thickness and diameter ?

There are small units that measure the exact diameter, thickness too. But they alone are not enough for me. But, again, when you are on the groups you quickly identify the regular dealers and you can be sure that you will not buy fakes from them. Problem comes with dealing with private individuals though.

 

[skeptic_SA]

Should have done it 2 years ago , bought KR@16k, now R20k. Scoin also does/did free safe custody(at Standard Bank vault), still costs a fraction if you have lots to safe keep. I got the Madiba birth-death medallion which I wanna go try sell at Pawn Stars

View attachment 392032

 

[P924]

No. Putting it in a special holder with a little striker and ringing it like a bell. Gold coins have a distinctive ring (like a tuning fork). Titanium fakes don't ring, have a dull thud.

The Fisch and GCB accurately test for diameter and thickness.

You mean tungsten? Titanium has a density of 4.43g/cm3, very hard to fake gold with that.

 

[Albert Broco]

View attachment 392032

:crylaugh:

It will take up shelve space and do not know for how long it will sit....

 

[rietrot]

Don't anyone buy directly from SA mint?

 

[Albert Broco]

Don't anyone buy directly from SA mint?

Can the public do so? Do they charge per gold price? I know they print proof coins for collectors too. I wonder what the difference in price would be between the two coins directly from the Mint? The only reason I buy on Facebook auctions is the fact that I often get the coins much cheaper there than on retail.

Edit - nevermind, I will not buy from the Mint (http://www.samint.co.za/collectable-coins/2015-range/). They sell at collector values. I am a 'goud smous' and prefer to trade at current gold prices and not collector values.

 

[Arthur]

You mean tungsten? Titanium has a density of 4.43g/cm3, very hard to fake gold with that.

Oops. Yes. Tungsten, not titanium. Brainfart while drinking coffee on the stoep.

 

[Arthur]

Interesting , never heard of it. Thanks

Gold coin balance and common sense ( buy the buyer ) is what I use but will look into this ringer.

Here.

[video=youtube;boB4yyS-fDk]https://www.youtube.com/watch?v=boB4yyS-fDk[/video]

The Ringer is designed primarily to be used to detect tungsten counterfeits of 1oz gold coins.
The Ringer can also be used to check 1oz silver coins as a different composition of metal/s used to make a fake will give a different ring tone to that of a genuine coin. Having said that, the fake 1oz silver coins we have checked and those that have been reported are too thick and will be detected by the Fisch. This emphasizes the necessity of using the Ringer as well as the Fisch to check a coin.

 

[Sly21C]

I recently bought a 1/2 KrugerRand. I also have a 1/4 ounce KrugerRand. I'm aiming for a 1 ounce now, hopefully by end of the year or early next year. For now, next month I wanna buy a 1/10 KrugerRand.

Not only that. If things get really tough (global crash) the government can and will seize it. Even the USA confiscated private gold in the 1930s.

That's the one thing I don't like about governments and private bankers, they don't want citizens to have gold. If people store a lot of gold, then those people are said to "hoard" gold. But if people accumulate a lot of money (or currency), then they are rich.

Edit - nevermind, I will not buy from the Mint (http://www.samint.co.za/collectable-coins/2015-range/). They sell at collector values. I am a 'goud smous' and prefer to trade at current gold prices and not collector values.

Did you manage to buy directly from SA Mint?

 

[Arthur]

That's the one thing I don't like about governments and private bankers, they don't want citizens to have gold. If people store a lot of gold, then those people are said to "hoard" gold. But if people accumulate a lot of money (or currency), then they are rich.

That's because governments can change the value of paper money at will. They don't mind if you have stuff that they can set the value of. Gold they don't like so much. It's international and far less under their control. If desperate to get their hands on your stuff, they might seize it by force of law (ie with police guns and prison).