A Krugerrand is only 22 carat gold (91,67% Gold) and a gold minted bar is 99.99% pure gold. A Krugerrand is also a legal tender product and minted bars are not.
In South Africa, only a person or company licensed to process precious metals (such as a jeweler) may manufacture jewellery using a minted bar.
The Precious Metals Act 2005 makes provision for the South African public to own and possess approved gold products since 1911.
Each bar is issued with a certificate and a unique serial number of the bar which are regulated by the South African Diamond and Precious Metal Regulator. Our Gold and Platinum bars are packed in a tamper – resistant packaging that will indicate if the bar has been tampered with. The buyer is also welcome to email or phone through the serial number of the product to MetCon for verification.
MetCon is primarily a refinery utilizing some of the most advanced laboratory equipment in the world. It has been in operation since 1990 and manufactures precious metal products in accordance with the specifications laid down by the South African Bureau of Standards – Specification SANS 29. MetCon was the first company to receive permission from the South African Diamond and Precious Metal regulator (SADPMR) and the South African Reserve Bank to produce and sell minted gold, silver and platinum bars. The Company’s operation is fully compliant with the provisions of the Mining Charter and was the first South African company to receive dual certification (Chain of Custody and Code of Practice Certificates attached) from the Responsible Jewellery Council in London. This certification acknowledges high levels of integrity in gold manufacturing and trading.
MetCon aims to make its’ products as affordable to the public as possible. As such, the website makes use of internationally recognized live pricing feeds to allow us to offer the most competitive rates possible. As the buyer, your order and price will be locked in for a few minutes, in which you will have to complete the transaction. If you don’t complete in the required time frame, the price of the product will update to reflect the live price of the underlying precious metal.
Once you add the products to your shopping cart, your price is locked in for 5 minutes. If you decide to browse and add further items to the cart, then each new item will have its’ own reserved price for 5 minutes. Once you have added all your items and clicked on the check-out item; your cart will refresh the price on any products that have exceeded the 5 minute window, the remaining products will have their prices locked. These prices are used for the final order confirmation page.
At the order confirmation page, your prices are locked for a further 5 minutes to allow for the payment to be made, before being refreshed. You will have an option of paying using your credit or debit card through a third party payment gateway, or by processing an EFT.
Regrettably we may not offer storage facilities for precious metal products. We recommend that you store them in your own safe or bank security box. If you prefer a third party storage solution, then we would gladly put you in touch with our local partners in the form of IBV (International Bank Vaults).
Yes, as a refinery and international trader of precious metals, we have access to global markets that allow us to hedge any purchase of precious metals. This allows for us to guarantee a repurchase of all our own MetCon products at a small discount to the underlying live metal price to account for the administration cost. Give us a call or send us an email for the current repurchase price.