2017 Silver Krugerrand your thoughts on investing in these

Discussion in 'Bullion Investing' started by mpcusa, May 12, 2017.

  1. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I sincerely doubt that the very concept of "investing in silver Krugerrands" even exists, or perhaps ever will. As a classically trained economist, I'd have to call buying them a 100% pure "consumptive" act and purchase, having virtually none of the normally understood aspects of "investment" as the profession defines it.
     
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  3. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    For those of a certain age range who remember the almost cult following status of its gold older relative, I imagine there will always be a small but dedicated interest group, but otherwise I agree. Be interesting to see how many they make in 2018. You've got to realize also that it's not a government-issued coin, so this is strictly a money-making venture.
     
  4. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Is not the South Africam Mint a government mint? I didn't care to check, but I assumed it was. The COA refers to it as a "legal tender coin", whatever that means anymore.
     
  5. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    I went looking for/at them today, but still $42 is the best price I found. I'll keep waiting.
     
  6. ToppCatt

    ToppCatt ToppCatt

    My my. It's great to have such erudite people aboard.
     
  7. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    I always did too. Recently only learned technically no. It IS accepted as legal tender because the South African Bank guarantees it will be honored, but, SA Bank is not owned by the government. Or SA Mint, whatever their official name is.
     
  8. baseball21

    baseball21 Well-Known Member

    The majority of banks aren't owned by any government
     
  9. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    Wait. I'm hallucinating....
    The South African Mint, headquartered in Centurion, near Pretoria, is a sovereign mint wholly owned by the government of South Africa through the South AfricanReserve Bank.
     
  10. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    South African Mint. During the eighties, the Government initiated the deregulation of State activities and the South African Mint was privatised, with the SA Reserve Bank as the holding company. The South African Mint Company (Pty) Ltd was established on 1 September 1988 as a full subsidiary of the SAReserve Bank.
     
  11. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    I give up. Oh, well. Sorry to confuse the issue. They're always worth melt I guess.
     
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Finally, and thank you !
     
  13. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    :rolleyes:+ a couple bucks like the rest.
     
  14. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Let me go at it this way: is there ANOTHER mint in South Africa that IS a government mint, or is this the only one? Who bashes out circulating coins?

    I just looked it up. The same South African Mint that makes Krugs also makes the circulating coins for the Republic of South Africa. Close enough for me. That's as "government" as they get. It's as if the U.S. Mint were operated by the Federal Reserve Board of Governors rather than by the Treasury Department.
     
    Last edited: Aug 26, 2017
  15. Santinidollar

    Santinidollar Supporter! Supporter

    Ah, hell. You beat me to it, Kurt.
     
  16. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    I do not believe so. It's just an odd arrangement. I don't know what to liken it to, other than perhaps a privitization sort of deal?
    from wikipedia:
    "The South African Mint Company (Pty) Limited (SA MINT) is the official mint of the Republic of South Africa with its headquarters in Centurion, Gauteng Province nearPretoria. SA MINT manufactures coins on behalf of the South African Reserve Bank. The company is headed by T. Tsehlo, Managing Director."
     
  17. Santinidollar

    Santinidollar Supporter! Supporter

    The silver Krugerrand, until further notice, is a collector's coin and not an investment coin.
     
  18. SilverWilliesCoinsdotcom

    SilverWilliesCoinsdotcom Well-Known Member

    Maybe I'm just a lousy investor... OR? Do I just need a bigger safety deposit box?
     
  19. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    IMG_1117.JPG
    At whose office shall I camp out waiting for the news release of "further notice"? I am not without skills, you know. Above is my humble abode for the recent eclipse.
     
    Santinidollar likes this.
  20. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    If you're investing in coins, I thought the former was just understood. Of course I'm half kidding, but ONLY half. Coins, to the extent that can be considered a worthwhile SPECULATION (not investment) at all, are an inter-generational one. Meaning: If you're okay with the VERRRRRRY long term, "invest" away. Cost of sales and ridiculous buy/sell spreads make coins a crummy investment.

    "Investing" in coins puts YOUR interests and needs in 3rd place at best - behind the guy you bought them from and the guy they'll ultimately be sold to. And due to the tax treatment of coins as assets NOT subject to favorable "investment" tax treatment, maybe you're in 4th place behind your Uncle Sam, too.
     
    Last edited: Aug 26, 2017
  21. baseball21

    baseball21 Well-Known Member

    Pretty sure the Perth mint is private too and they will do stuff that has legal tender status
     
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