Silver Krugerrands: ModernCoinMart, GovMint to Be Sole North American Distributors

2017-krugerrand-silver

UPDATE (12-14-16)—In a December 5 press release to its distributors, the South African Mint stated that, due to damage to the first shipment of coins, the release of the silver Krugerrand would be delayed.

UPDATE (11-21-16)—GovMint.com has announced that the official release date of the silver Krugerrand will be December 5, 2016. The mintage, released earlier in November, has been set at 1 million.


(Press release)—2017 marks the milestone 50th anniversary of the world’s first modern gold bullion coin: the South African gold Krugerrand. The Krugerrand has been the model for all other bullion coins issued since its 1967 debut. But no South African Silver Krugerrand coin has ever been issued—until now. Its release is expected to be cheered by collectors worldwide as a memorable and affordable way to mark the 50th anniversary of the Krugerrand legacy.

The dies for the 2017 silver Krugerrand have been digitally enhanced through innovative laser-etching technology not available in 1967. The results are razor-sharp detail, highlights, and shading not seen on a Krugerrand coin before. The first 2017 Krugerrands to showcase this technology will be premium Uncirculated silver coins, officially distributed to American collectors exclusively by two companies: GovMint.com and ModernCoinMart.com.

“The Krugerrand is one of the most respected and collected coins of the last century,” said Bill Gale, president of GovMint.com and ModernCoinMart. “We are honored to be named by the South African Mint as the exclusive U.S. distributor for the 2017 premium Uncirculated Silver Krugerrand. It is a fitting tribute to the 50th anniversary of this landmark coin. The Krugerrand legacy truly endures.”

For more information, contact GovMint.com at (952) 707-7120, or ModernCoinMart.com at (941) 467-7977.

This press release was provided by ModernCoinMart.com.  ❑

The headline was corrected on Nov. 12 to remove platinum, which is not mentioned in the press release. Mint News Blog apologizes for the error.

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Comments

  1. Gary Not Dave says

    @So Krates
    I am no where near the Professional Coin Collector you are with only having 23 years experience compared to your 107 years experience. But I have purchased many Graded coins and I, just myself, that’s just me, not you, feel more comfortable purchasing coins graded by NGC and PCGS rather than ICG and ANACS. I will buy NGC and PCGS sight unseen even. No matter how much you plea and whine about it. I wont waste my time with ANACS and ICG. You should be happy though, that’s one less guy competing with you for those coins. Do you need others to believe that to make you feel better about ANACS and ICG?

  2. earthling says

    The drop in Silver has me pondering a big buy ( big for me anyway). I think I want to buy 500 Silver Brittanias. Any suggestions for a good seller?

  3. cagcrisp says

    @ data Dave, I admire that you have taken a strong stand Before Launch and not waiting to red board the blog after the fact.

    I agree that it is the Most anticipated offering of the year and was my THE coin for 2016.

    The problem I have with your analysis is big boy/dealer participation. I just question their participation. Now I know most big boys/dealers don’t sell on the bay, however, some that are cannot compete with texasgse pricing. Look at completed sales on the bay for the WHL and the SLQ and you can see for virtually anyone wanting a graded 70 that it is cheaper to buy on the bay than it is to purchase from the Mint and submit and hope you get a 70 vs. 69.

    Currently WHL are selling for less (on average) in graded 70 vs. raw. The SLQ are not because there has not been a sellout.

    Dealers for graded coins have been burned with the release of the WHL , the Liberty Silver medals and the SLQ. There’s just a razor thin profit margin on these coins. How many times are they going to go to the well?

    I just question how many big boys/dealers will step up to the plate. These guys aren’t in it fo their health. No profit potential means No purchase .

    My guesstimate for Launch Day sales is 47,893.

    Again, thanks for going out there on that Sell Out limb. Someone’s sawing on the limb. Just hope you’re on the right side when the limb comes crashing down…

  4. fmtransmitter says

    @Sith: I know ANY TPG will have issues here and there with certain types of grades. I read So Krates statement and I agree, if you are able to go to a coin show and view the actual coin, regardless of holder, you should base your buying judgement on the coin. Of course, that takes a bit of grading knowledge but I do know ALL the TPG’s including ANANCS and ICG will cater to large submitters. I have heard big dealers only pay about $3 to $4 per coin on orders of 100 or more…Mostly moderns, which are easy, 69, 70..lol

  5. fmtransmitter says

    It is funny to listen to HSN guy muster all the coins he had to buy to get to the 70’s, he never mentions he sent the rest back! So I see how can be assured he will X amount of 70’s based on his buying power and dealer network in place…

  6. So Krates says

    Gary Not Dave – It seems despite complaining of an imaginary personal attack and receiving an apology, you have actively engaged in the very same behavior of which you have accused me.

    Honestly, I do not care what you buy or don’t buy. The points I was trying to make were mostly for the larger audience.

  7. earthling says

    I get the feeling the formerly very active Flipping Game has devolved into the US Mint flipping PM Planchets to who ever is out there to catch the overpriced crumbs. They use the same old Silver, Gold and Platinum Eagle planchets, strike a different image on them , and attach an inflated premium. Pack em into cheap Chinese Boxes and move em out.

  8. Mint News Blog says

    I came across this on a Cointalk thread via Reddit. I’m not sure it’s 100% real, as anyone can type up a fake customer-service email, but for what it’s worth: This writer says he emailed APMEX and that they will be stocking the silver Krugerrands in January. https://www.cointalk.com/threads/2017-silver-krugerrand.285264/page-2#post-2563349

    If the email is real and the statement is accurate, perhaps Bill Gale should have said “official” instead of “exclusive” — ?

  9. says

    Hi everyone,

    I work for MCM and want to clear up any confusion. MCM is the official North American distributor for the upcoming 2017 Premium Uncirculated Silver Krugerrand. This means that when these launch in the United States, we will be who you can order them from first.

    We are releasing regular updates and will be letting people who sign up to be notified first when they are available for sale. You can get on that list here: https://www.moderncoinmart.com/silver-krugerrand/

    Please let me know if there is anything else I can clarify!

  10. Mint News Blog says

    For those who’ve been wondering about retailers who advertise U.S. Mint releases before they’re available, Dave Harper has the following blog post the Numismatic News site: http://www.numismaticnews.net/buzz/wait-golden-reward

    In particular, he quotes the Mint as saying, “Unfortunately, we cannot restrict any company from making claims that they have the coins available for sale. However, we can assure all our customers that no firm or individual has any Gold Walking Liberty coins—despite whatever claims they may make. We can also assure our customers—and your readers—that the coin will be offered on our website or through our call center at a price that is far below what your reader may have heard or seen on a shopping network.”

  11. So Krates says

    @ Kelsey Howard – So MCM/Govt. Mint is or is not the EXCLUSIVE North American distributor?

    Thank you

  12. says

    @ Kelsey Howard
    We get that MCM and GovMint have the “exclusive official North American distribtorship” for the Silver Krugerrand. You also stated that it means that “we can buy the coin from them first”. That doesn’t necessarily mean that we can’t also buy the coin from other coin dealers first according to the wording of your statement.
    So to clarify, will other major dealers like Apmex be able to sell the coin in the US or does your official and exclusive distributorship prevent that? You seem to have been dancing around the wording being used.
    Respectfully,
    Rodney

  13. says

    Some European dealers are already sold out, all the 1 million coins are already distributed to dealers, the mint is sold out 🙁

  14. RODNEY MOORE says

    @ Eve G.

    I don’t think the mint is “sold out”. I think that the mint has stopped offering them for sale for the time being until they get the situation sorted out and will resume sales. It’s a 2017 coin and 2017 hasn’t even got here yet so it’s a bit premature to say the mint has sold out..

    Some of the distributors in the US say that the mint will restrike the coins. The mint will also get almost a million coins back in returns and they may even go through that and pick the bad ones out and sell the good ones. And that is in addition to them resuming production of them.

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