Gold Investment in South Africa
Buy physical gold bars, Krugerrands and gold medallions from Moon Investments, priced daily in rand and delivered anywhere in South Africa or collected from one of four branches.
Buying physical gold is the most direct form of gold investment in South Africa. You choose a bar, a coin or a medallion, pay the day’s rand price, and the gold is yours to hold for as long as you choose, with no fund, platform or annual fee between you and the metal. Moon Investments stocks all three.
Which Gold Should You Buy?
Moon Investments stocks gold bars, Krugerrands and gold medallions, and each type suits a different buyer.
| Gold Bars | Krugerrands | Gold Medallions | |
|---|---|---|---|
| What It Is | Fine gold bars sold by weight | South Africa’s legal tender gold bullion coin, struck since 1967 | Gold medallions minted by Moon Investments in-house |
| Sizes Stocked | 10 g, 50 g and 100 g | One ounce, half ounce, quarter ounce and tenth ounce | 1 g, 2.5 g, 5 g, 10 g, 50 g, 100 g and one ounce |
| Purity | Fine gold | 22 carat, which is 91.67% gold | 999.9 fine gold |
| VAT for a Private Buyer | Charged | None | Charged |
| Often Chosen By | Buyers who want a set weight of gold in one piece | Buyers who want a coin that dealers worldwide recognise | Buyers starting small, or buying gold as a gift |
Krugerrands
Legal tender and the most widely held and actively traded gold bullion coin in the world.
Gold Medallions
Minted by Moon Investments and starting at 1 g, for a buyer who wants to begin with a small piece and add to it over time.
How to Buy Gold from Moon Investments
1
Register as a client
New clients send the sales team a copy of their ID, a bank confirmation letter and proof of address such as a utility bill, together with the Moon Investments client application form. A company also sends its company registration documents, and its VAT registration document where it is registered for VAT.
2
Choose your gold and confirm the price
Orders up to R5 000 can be paid for on the website. Above R5 000, which covers most gold, the sales team takes the order by email or WhatsApp and quotes the specific bar, coin, or medallion you want.
3
Pay before 13:00
Gold bar and gold Krugerrand orders must be paid for and confirmed before 13:00. A payment that arrives after 13:00 is priced on the following business day.
4
Your price is set on proof of payment
The sales department secures your order and fixes your price once it has received your proof of payment.
5
Take delivery or collect
Couriers deliver throughout South Africa. Items held in stock are delivered 24 to 48 hours after payment is received, and pieces that have to be made to order take 10 to 21 working days. You can also collect from the Germiston, Cape Town, Durban or Port Elizabeth branch, by prior arrangement and with your ID or driver’s licence.
Take a look at our gold bars page for today’s prices. Then speak to the sales team, who quote and place orders above R5 000 by email or WhatsApp.
Why Buy Gold from Moon Investments
Allied With Cape Precious Metals
Moon Investments is allied with Cape Precious Metals, a South African provider of precious metals.
Rand Refinery Bars & In-House Medallions
The gold bars are made by Rand Refinery, the medallions are minted by Moon Investments, and both are 100% recycled gold.
Proof of Authenticity With Every Piece
Rand Refinery products carry a serial number and a certificate number on the packaging, and every in-house medallion comes with an assay certificate confirming the purity of its gold.
Speak to the Sales Team
The sales team is available by phone, email and WhatsApp during business hours.
Buy Gold Online in South Africa
At Moon Investments, we sell gold bars, Krugerrands and gold medallions to private buyers and to VAT-registered businesses. The sales team quotes the bar, coin or medallion you choose, confirms your payment and arranges delivery or collection. If you are choosing between a bar, a coin and a medallion, the team can talk you through the sizes and the VAT treatment before you pay.
Frequently Asked Questions About Buying Gold in South Africa
How is the gold price worked out in South Africa?
Four things set the rand price you pay.
| What Sets the Price | What It Means for You |
|---|---|
| The international gold price | Gold is priced worldwide in US dollars per troy ounce. A troy ounce is 31.1035 g, heavier than the 28.35 g ounce used for everyday weights. |
| The rand-dollar exchange rate | The rand price is the dollar price converted at the day’s rate, so it moves when the gold price moves and again when the rand moves. |
| The weight in grams | Moon Investments prices its gold per gram, set each day and subject to stock. |
| The premium over spot | The spot price is the price at which mines sell gold to refineries and mints. Refining, minting and packaging add a cost on top of it, and that cost is usually higher per gram on a 1 g medallion than on a 100 g bar. |
How the rand affects the gold price explains the exchange rate side in full.
Do I pay VAT on gold in South Africa?
VAT on gold in South Africa depends on what you buy and on who you are.
| Buyer | Krugerrands | Gold Bars & Gold Medallions |
|---|---|---|
| Private individual, or a business not registered for VAT | Zero-rated, so no VAT is added to the price | VAT at the standard rate |
| VAT-registered business | Zero-rated, so no VAT is added to the price | Domestic Reverse Charge, so the buyer accounts for the VAT |
Krugerrands are zero-rated under section 11(1)(k) of the Value-Added Tax Act, because they are legal tender and investment-grade gold bullion rather than a consumable item. No VAT is added to the price for any buyer.
The Domestic Reverse Charge is a SARS rule in force since 1 August 2022 for sales of gold to VAT vendors. Under it, the buyer accounts for the VAT rather than the seller. Before Moon Investments can trade with a VAT vendor, it needs a copy of the vendor’s VAT registration certificate together with the SARS re-validation reply and case number. Our guide to complying with the Domestic Reverse Charge sets out the documents step by step, and the SARS Domestic Reverse Charge page carries the regulations themselves.
Should I buy physical gold or gold on paper?
Physical gold is a bar, coin or medallion that you own and hold. Gold on paper is a unit in a fund that holds gold, or a contract with a bank or broker priced off gold. Either one gives you the gold price without the metal itself.
| Physical Gold | Gold on Paper | |
|---|---|---|
| What You Own | The metal itself | Units in a fund, or a contract priced off gold |
| Where It Is Kept | With you, or in storage you arrange | With the fund or the broker |
| How You Buy | From a bullion dealer | Through a bank, a broker or a trading platform |
| How You Sell | To a dealer that buys gold, at that day’s price | On the platform, usually on the same day |
| Ongoing Cost | Storage and insurance, if you choose them | Fund or account fees, usually charged every year |
The right choice between physical gold and gold on paper depends on why you are buying, how long you expect to hold the gold, and how quickly you may need to sell it. Moon Investments sells physical gold and does not give investment advice, so if you are weighing the two, a registered financial adviser is the right person to ask.
What is the smallest amount of gold I can buy?
The smallest piece Moon Investments sells is the 1 g fine gold medallion, and the range then runs through 2.5 g, 5 g, 10 g, 50 g, 100 g and one ounce. The smallest gold bar is 10 g and the smallest Krugerrand is the tenth ounce coin.
Am I allowed to take Krugerrands out of South Africa?
Yes, within the Reserve Bank’s limits. A South African resident may export Krugerrands up to a value of R30 000 as a gift to a non-resident. A foreign visitor may take up to fifteen Krugerrands out of the country. The resident and the visitor must each complete the prescribed customs declaration before travelling.
What does 999.9 mean on a gold medallion?
999.9 is the purity of the gold, written as parts per thousand. A 999.9 medallion is 99.99% gold. The Krugerrand is 22 carat, which is 916.7 parts per thousand, because copper is added to make the coin harder wearing.
How should gold bars and coins be stored?
Keep each piece in the packaging it arrives in and handle it as little as possible, because scratches and fingerprints can lower what a dealer will pay for it later. Store it somewhere secure and dry, such as a home safe, a bank safe deposit box or a professional vault, and check that your insurance covers gold held at home.
Information on this page last reviewed 15 September 2026.