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Maintain social distance and buy Krugerrands securely online

(Partner Content) Buying gold coins online is a secure and safe method of investing in high-value, rare or commemorative coins. It is an additionally safe way to make a purchase while practising social distancing.

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With gold looking like the star asset of 2020, is now the time to invest in Krugerrand’s? Also, can buyers maintain social distancing protocols while buying Krugerrands and other gold coins?

Rael Demby, COO of The South African Gold Coin Exchange and The Scoin Shop is cautiously optimistic about the direction the yellow metal is headed, saying “the outlook for gold is bullish – we are witnessing a significant change in the attitude of investors towards gold. The incentive to buy Krugerrand’s and other gold coins is being driven by the Covid-19 public health crisis, economic turbulence, monetary policy actions and inflationary concerns. As long as investors are faced with an environment of economic uncertainty, gold will take up its historical role as a perceived safe haven”.

In contrast to the surging gold price, traditional bricks-and-mortar shops are under considerable pressure with some analysts predicting that the pandemic will rewrite the rules of retail. Data from McKinsey shows that consumers are likely to keep up some shopping behaviour shifts adopted during the pandemic. Statistics forecast fewer visits to malls and more online shopping, even as the crisis subsides. Demby heads up thirteen retail outlets backed up by an online shop said: “We are ready for the challenges ahead. We have always believed in constant innovation and were early adopters of buying and selling coins online. The business is continually breaking new ground in response to an ever-changing retail landscape and today in the time of COVID19 as well as the surging gold price. Our website is optimised to respond to demand in Krugerrand’s and other coins”. Demby highlights Scoinshop.com readiness and commitment to global standard best practices and comments: “Scoinshop.com has seen a steady increase in ‘unique users’ visiting the website, resulting in a 78% improvement year on year. What is interesting is that COVID19 period has accounted for less than 20% of the new users. So buying confidence has been improving outside of the pandemic, which forced people to come out of their comfort zone and explore new ways of purchasing coins as an alternative investment? 

Buying a Krugerrand online sounds daunting. Is it safe, and can buyers feel confident?

Demby says “Customer data and secure online transactions is a top priority for any e-commerce store, this will always remain the case for Scoinshop.com. We are constantly looking at ways to simplify and improve the online digital experience. And our customers get peace-of-mind with our SafeGold facility which gives risk-free, safe custody “.

Improvements underway to the online shopping experience include the implementation of a payment gateway that will allow the purchase of Krugerrand’s online with VISA, MasterCard or SID ( secure instant deposit). This enhancement is an upgrade from the current payment option, which is limited to EFT payment. In South Africa, the vast majority of online -purchases transact through VISA and MasterCard. 

Demby concludes that “The way we do business has changed, and we have been swift to respond. With the gold price surging, demand for Krugerrand’s is up and online buying confidence improving, Scoinshop.com has never been more prepared to respond to our clients”.