Buy Krugerrands – The Easiest Way to Protect Against Currency Fluctuations
ISA Gold makes it possible for you to buy Krugerrands the easiest way. Simply view the various coin weights, make your selection and buy. Our offices are located in Sandton Towers and you can thus take possession either through courier delivery, or by visiting us in person.
However, you will find many adverts stating the easiest way to buy Krugerrands, but to avoid being scammed or making a wrong decision, first read below to ensure that you make an informed buying decision.
Take Delivery of the Coins
Don’t just purchase a certificate stating that you have a specific number of Krugerrands or leave your Krugerrands in the bank safety deposit box. Should the bank face financial difficulties or an economic crisis looms, you might not even be able to take possession of your items stored in the safety deposit box.
Certificates are excellent when from reputable sources, but don’t just buy from anyone. Make sure that the dealer is a Rand Refinery approved dealer and that you do take possession of the Krugerrands. Having the assets in hand is definitely recommended above just having a certificate to state that you have the coins. If you have to resell in a hurry, it may be more difficult if you only have the certificates.
Buy Silver before Gold
If you cannot afford to buy gold immediately, then start small by investing in silver bars first. Once you have developed a reasonable investment portfolio or have enough savings, then buy gold coins and bars. In this way, you can start to diversify your risk immediately, instead of having to wait longer because you cannot yet afford to buy enough Krugerrands.
Buy Small before Big
There’s a saying that goes … small beginnings… and it is also true when it comes to investments. Don’t throw all your money into just one investment vehicle. Start small and if you cannot immediately buy the 1oz Krugerrand coins, then start with the 10th or the ½oz. Before you know it, you will have a substantial investment.
Buy Reputable Coins
The Krugerrand is standardised and because you deal with the Rand Refinery and the SA Mint, you know that the coins are backed with guarantees. Don’t invest in coins that you have never heard about. Buy Krugerrands before you start with overseas coins.
Understand Bullion Options
If you plan on investing in gold bullion for protection of your assets against market fluctuations, potential stock market crashes or currency devaluation, then buy Krugerrands together with silver bars and gold bullion bars.
Gold coins cost less per ounce and thus provide you with excellent value for your money. Krugerrands are well-recognised throughout the world and widely accepted as payment tender. This means that should you only have gold and no paper money, you will still be able to make purchases. You can resell the gold coins, but do note that it is always better to hold onto the coins until your selling price is well above the original buying price. Note that the purity of the Krugerrand is never disputed because of the original source, and to ensure hardness of the coin, it isn’t 100% pure. This doesn’t retract from its value and will not affect the price of the Krugerrand.
Krugerrands are the easiest way to start investing in gold bullion and with gold being a safe haven against currency value loss and being a tangible asset, you have excellent security. There is no VAT payable on the coins and with no FICA restrictions, just about anyone can start investing in the coins.
Although gold ownership may not always be urgent because the country or world’s economy may still be stable, any changes in stability create urgency in gold ownership. By investing during stable times, you pay less and thus prepare for the periods in which everyone wants Krugerrands. When such periods come, you have a competitive edge and thus don’t have the sleepless nights associated with stock market or currency fluctuations.