Our valued sponsor

Someone know where to buy KrugerRand?

happyjohn

happyjohn

Corporate Services
Mentor Group Lifetime
Oct 3, 2012
806
511
93
#1
Register now
You must login or register to view hidden content on this page.
I have some cash sitting in my box and wonder if it was a good idea to exchange it to Gold, particular to Krugerrand?

I read about it here Buy Gold Krugerrand Coins in Europe | BullionByPost®

Does someone know where in Europe it could be possible to buy such Gold Coins in cash?

Does someone know if it is better to invest in other Gold rather than Krugerran?
 
  • Like
Reactions: TurnedToRobot
#3
Saving/investing in gold is part of culture of German speaking countries. That's also where you are most likely to find the best prices. For example, these guys seem competitive. I've paid cash for 2 X 100g bullion in a Baltic country, no questions asked.

Bullion bars (>100g) are generally cheaper than buying the same weight in coins.
 
  • Like
Reactions: JohnLocke and TurnedToRobot
#5
I just checked on German web, you can buy gold (bars/coins/etc) in every relevant shop in Germany anonymously (no ID needed) up to the value of 9999 Euro. SoYou might end up having a problem when you cross borders with a block of that in your luggage as that might be considered smuggling.
For selling you typically need an ID. However I doubt that is reported to somewhere, but rather documented so that when officials ask whether someone particular sold gold recently, they can look it up.
https://www.goldreporter.de/gold-verkaufen/
 
#6
MrJonesy said:
buy gold (bars/coins/etc) in every relevant shop in Germany anonymously (no ID needed) up to the value of 9999 Euro.
Click to expand...
The link is to sell gold not to buy gold!

What shop did you find where you can walk in and buy gold?
 
  • Like
Reactions: JohnLocke
#7
Also, I read a lot about this a while ago, it is important that you buy coins that are priced as closely as possible to the gold price. special coins (KR, Maple Leaf, Eagle, etc) have quite hefty markups. If you could convert your cash and put it on a bank account, you can even order your gold here
https://www.gold.de/aufgeldtabelle/You can see in the column 'Aufgeld in %' how close the online ordering price is to the current gold price.
 
  • Like
Reactions: JohnLocke
#10
happyjohn said:
Thank you. And you tried to buy a Gold Bar with cash in Germany or is it better in Baltic country?
Click to expand...
I would feel perfectly safe to do it in Germany but I do not have the problem of having too much cash so can't really tell you. I am German so I would prefer doing it in Germany. Depends on where you are and where you go after Germany I guess. Easier to travel to Germany. But you have to declare more than 10k currency at the border. Or you just walk through
 
#11
MrJonesy said:
I would feel perfectly safe to do it in Germany but I do not have the problem of having too much cash so can't really tell you. I am German so I would prefer doing it in Germany. Depends on where you are and where you go after Germany I guess. Easier to travel to Germany. But you have to declare more than 10k currency at the border. Or you just walk through
Click to expand...
Been a few years so it might have changed but researched gold for cash and online purchase in Germany and some other places around there and found it to be very expensive. One national refiner in a country to the east offered gold bullion at 30% markup. Saw some krugerrands and maplesleafs at decent price on ebay type of sites but I would not trust them. Have not found a better place for this than the US.
 
#12
My personal point of view:
- Bars: Recent problems with bars of Tungsten wrapped in real gold. They a difficult to detect due to Tungsten's similar properties to gold. You need some specialized detectors. These pass as legit to the usual 'scratch + acid' test as only the deep internal core is tungsten
- Small Bars: usually sealed in some envelope or wrap that can't be removed otherwise they loose 'authenticity'. Again you need to open them to test them and you're back to point 1
- Coins: They have very specific dimensions & weight. With a cheap precision scale, measures and some practice you can identify them easy. Smaller coins better as it is easier to find 2 people wanting to buy $500 than 1 to buy $1000 if you get the idea.

If you are ready to invest time & burn eyebrows you can buy used circulated typical gold coins at spot. Just look & look a lot around. Also some local specialized forums on coins usually have threads to buy/sell face 2 face at spot.

My 2cts (digital not gold :-)
 
#13
Right, got to be very careful about provenance. Reason to consider 1oz maple leafs as they contain security feature.

One other thing: it might make sense to import it from the US as all possible EU taxes are calculated based on coin face value, not gold content.
 
#15
AND2 said:
My personal point of view:
- Bars: Recent problems with bars of Tungsten wrapped in real gold. They a difficult to detect due to Tungsten's similar properties to gold. You need some specialized detectors. These pass as legit to the usual 'scratch + acid' test as only the deep internal core is tungsten
- Small Bars: usually sealed in some envelope or wrap that can't be removed otherwise they loose 'authenticity'. Again you need to open them to test them and you're back to point 1
- Coins: They have very specific dimensions & weight. With a cheap precision scale, measures and some practice you can identify them easy. Smaller coins better as it is easier to find 2 people wanting to buy $500 than 1 to buy $1000 if you get the idea.

If you are ready to invest time & burn eyebrows you can buy used circulated typical gold coins at spot. Just look & look a lot around. Also some local specialized forums on coins usually have threads to buy/sell face 2 face at spot.

My 2cts (digital not gold :)
Click to expand...
Okay great. But it I walk in to one of the major Gold sellers in Germany I'm sure they don't sell me some fake so I don't have to worry about your points other than to move the Gold around which I found a way to do where it is easy.

Or don't you agree to that?
 
#16
The Baltic country I bought gold with cash was Estonia and the shop was Tavid. It was a few years back, though. Outside estonia Tavid operates under the business name "Tavex". They have shops in all Nordic and Baltic countries + Poland + Bulgaria. Personally I would do my gold shopping in Germany, though.
 
#17
I would indeed test the coins no matter what. Specially given the recent problems of **central banks**, yes central banks, discovering they have fakes. Google a bit. And the test takes 2 minutes.

On the face value forget it. Tax auths already caught up with that. Even with getting payed salary of 1K in legal tender gold coins valued at 10K i.e. The coins are valued at the highest possible: face, gold content, numismatic, etc

@happyjohn can you clarify what is the easy way to move gold around? Not sure I follow thx in advance.
 
#18
AND2 said:
I would indeed test the coins no matter what. Specially given the recent problems of **central banks**, yes central banks, discovering they have fakes. Google a bit. And the test takes 2 minutes.

On the face value forget it. Tax auths already caught up with that. Even with getting payed salary of 1K in legal tender gold coins valued at 10K i.e. The coins are valued at the highest possible: face, gold content, numismatic, etc

(...)
Click to expand...

1. 2mins test is not credible. How do you test coins without damaging them or removing plastic seal? Reputable dealer is the key.
2. That is very country specific as it worked for me on numerous occasions in different localities. Definitely works for USD10k declaration limit while traveling.
 
  • Like
Reactions: TurnedToRobot
#19
You test coins with a precision scale, a glass of water and a digital caliber. If they are sealed no way then ofc.

Surprised to learn the face value trick worked for you, that's encouraging...
 
#20
AND2 said:
You test coins with a precision scale, a glass of water and a digital caliber. If they are sealed no way then ofc.

Surprised to learn the face value trick worked for you, that's encouraging...
Click to expand...

May I refer you to the relevant US statue and settle it conclusively.

"Monetary instruments include currency as defined as the coin and paper money of the United States or of any other country that is designated as a legal tender and that circulates and it customarily used and accepted as a medium of exchange in the country of issuance. "
https://help.cbp.gov/app/answers/de...-the-u.s.-in-transit-to-a-foreign-destination
Not sure about SA Rand but CAN50 gold coin is a legal tender in Canada.
 
Register now
You must login or register to view hidden content on this page.
You must log in or register to reply here.

Forum Announcement

Latest Threads

Offshore Bank Accounts
Top Bottom
Back