FREQUENTLY ASKED QUESTIONS


Questions

How do I know that the Krugerrands that I received are genuine?

Will I receive bullion or proof mint coins?

How long after my payment will I receive my gold?

Can Krugerrand coins be delivered anywhere outside the borders of South Africa?

Where should I store my gold coins for safe keeping?

Why is there a seven-day cool off period after I made payment?

What are my payment options?

Why must I add a 1% cash-handling fee when paying cash?

Why is there a color difference between some gold coins?

What is “bull” and “bear” markets?

If I need to sell my gold coin(s) where do I go?



Answers

How do I know that the Krugerrands that I received are genuine?

Altermore  ensures that the Gold coins are provided directly from the coin provider and that they are genuine. False coins are crude and easily spotted. The only metal that allows for a good falsification of the Gold is Platinum. This does not make any sense since platinum is more expensive than gold. You can however take your Krugerrand coin to any coin dealer and have its legitimacy validated for your own peace of mind
Back to Top


Will I receive bullion or proof mint coins?

Altermore deals in Gold and in so doing deals with bullion Krugerrand coins. The Gold value of a one oz proof mint and bullion one oz Krugerrand is to the cent exactly the same. 
Back to Top


How long after my payment will I receive my gold?

Delivery is initiated once full payment has been received. Altermore's terms and conditions make provision for up to six weeks for delivery. The company does however endeavor to deliver within three weeks.  .
Back to Top


Can Krugerrand coins be delivered anywhere outside the borders of South Africa?

The answer is a legislative No! The legislative control rests with the South African Reserve Bank. You may however take your own Krugerrands abroad subject to annual limits on travel allowance
Back to Top

 

Where should I store my gold coins for safe keeping?

Safe keeping of your Krugerrands is your responsibility. You can lock them up in a safe in your house or in a Bank safety deposit box. Any place that you deem safe will do. Bear in mind that the more people you have that have access to your safe keeping place the less likely the chances that you will remain the owner of your Krugerrands. A secondary smaller safe hidden in your home would not be a bad idea. Often with robberies the victims are made to open the safe. Should you have a secondary safe, which is hidden, you will be able to protect your gold from robberies in most instances. It is of critical importance that as few people as possible know of your stockpile. This principle applies to all other valuables.
Back to Top


Why is there a seven-day cool off period after I made payment?

This cool off period is to avoid something known as buyer's remorse. This is also a legal requirement. Up to and within a period of seven days Altermore will refund all monies paid to the company on request of the buyer. 
Back to Top



What are my payment options?

Credit card and cheque fraud in South Africa is high, very high. These methods of payment also allow for reversals within certain time periods. Suffice to mention that the company wishes to curtail all areas of risk. Credit cards and cheques are deemed high-risk areas. For reasons of risk curtailment credit card transactions are only accommodated for single gold purchases. An additional cost of 5% over and above the cost of the single option will be charged for the cost of the transaction. Electronic Fund Transfers (EFT) are the preferred way of payment.  You can also do a cash purchase by depositing cash directly into the account of Altermore. For the cash payment option however you are required to add 1.1% to the overall purchase price to cover bank charges. 
Back to Top


Why must I add a 1.1% cash-handling fee when paying cash?

This is what the banks charge on average to handle cash. 
Back to Top

 

Why is there a color difference between some gold coins?

Individuals who have observed bullion and proof gold coins often ask this question. It is also sometimes observable in bullion coins of different dates. The question of color then stems from the premise that gold is gold and the color should be exactly the same. Although the last sentence is factually correct the premise of judgment of color is incorrect. The reason for this is that the Krugerrand coin, is not pure gold but 22 carats. This amounts to approximately 91.6% gold. The rest of the coin is then a mixture with another metal usually for hardening reasons. One metal mixed or better put, melted with one or more other metals is called an alloy. The Krugerrand coin is essentially a gold alloy where 91.6% of the coin is gold. The other 8.4% is another metal, which can differ from year to year and coin to coin. The coin alloy is often composed of gold and either copper, brass, titanium or zinc. Depending on the choice for a mixture of gold, the actual color and size of the coin by weight can differ slightly. The choice of alloy does not affect the value of the coin. The value of the coin is determined by the internationally determined value of gold and the weight of the coin. 
Back to Top

 

What is “bull” and “bear” markets?

The terms bull and bear market are often used in describing share and commodity trends. When you hear someone refer to gold as being in a bull market it means that the gold price is in an upward trend. A bear market is the opposite of a bull market and refers to a downward trend in either stocks, gold, silver etc. A Bear is also a Seller of shares in the expectation that the price will fall and he will be able to purchase the shares at a price lower than his selling price, thus making a profit. A Bull is a person who buys shares in the expectation that the market will rise and he will be able to sell them at a higher price. 
Back to Top


If I need to sell my gold coin(s) where do I go?

Any gold coin dealer will do business with you. You can also contact Altermore at  service@altermore.com  or contact the office at +27 011 455 0305. We often buy coins from individuals. The price offered for your gold will depend upon the gold price at the time. You will be paid by electronic fund transfer to your account of choice once Altermore has taken possession of your coin(s). 
Back to Top

Altermore © 2010 (www.imagemakerz.net)
HOME KRUGERRAND HISTORY TECHNICAL FAQ CONTACT