If you are sold to the idea of collecting Krugerrands for whatever reason, gifting or to complement your investment portfolio, FNB has an easier way for you to buy and store your gold via a digital platform
With the FNB online platform you can buy and track your Krugerrands.
Here’s how to buy Krugerrands from the FNB digital platform:
- Log onto www.fnb.co.za
- Click on the share + Gold Tab
- Click on My Portfolio tab on the left hand side of the screen
- Click Krugerrands under Buy heading
- Select the account
- The system will provide you with estimated quote of the amount of coins you want to buy based on the funds in the account
- Click on Buy on the type of coins you want to buy
- Enter the amount of coins you want to buy
In a statement of dealing Krugerrands, Aneesa Razack CEO of FNB Share Investing, offers the following motivations.
- Krugerrands are linked to the international value of gold, which means that the investment is protected from local currency volatility and devaluation and therefore a true global investment you can rely on.
- Gold is considered a safe haven because of its properties as both a hedge against inflation, and its pricing in dollars – the reserve currency globally.
- Krugerrands have proven to be a valuable investment choice as the value of 1 ounce of a Krugerrand has increased by more than 870% between January 2000 and January 2018 – outperforming all other asset classes, while the price of gold has increased by roughly 370% over the same period.
- Krugerrands are also VAT zero rated and attract no trading fees, ultimately lowering transaction costs. There are, however, custody fees of 0.86% per year based on the value of your investment holding in Krugerrands and a monthly account fee, just like most banking products.