The SARB only purchasesgold coins that are deemed to be legal tender.
The South African Reserve Bank (SARB) will resume the limited service of purchasing of gold coins from the public at the SARB Head Office as of Wednesday, 8 September 2021.
The purchasing of legal tender gold coins from the general public will be offered on Wednesdays, between 08:30 and 12:00 on an appointment only basis.
These coins include:
Krugerrands
Natura range coins
Protea range coins
Customers wanting to sell commemorative gold 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.
The SARB purchases gold coins from the public from Monday to Friday between 08:30 and 12:00 at the SARB Head Office in Pretoria. These hours are subject to change during the festive season.
Gold coins
Frequently asked questions
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 less than three months old (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.
Company/Close corporation
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).
Listed and public companies: No verification documents are required.
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 on 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, a smart identity card, a valid South African passport, a valid driver’s licence or a valid temporary identity document.
Letter of executorship; and
Proof of address not older than three months.
Queries regarding the above may be directed to:
Addney Mamasonya +27 12 313 4712
Adri Cordier +27 12 313 3818
Jennifer Hunter +27 12 313 3253
Marita Bedford +27 12 313 3244
Moethi Modise +27 12 313 3255
Ronel Pretorius +27 12 313 3323
