In remembrance of that fateful day the South African Gold Coin Exchange (SAGCE) is launching one of its commemorative Titanic coins.

The £25 Titanic Gold Coin was launched with a mintage of 1 000.

This year SAGCE decided to release the coin to honour the 1,517 passengers who lost their lives on the Titanic’s maiden voyage.

On 14 April 1912, the Titanic was en route to New York City when it hit an iceberg 603kms south of Newfoundland at 23h40.

A few hours later at 02h20 on 15 April 1912, the ship which was dubbed unsinkable, sank.

Although it was equipped with many safety features including watertight compartments and remotely activated watertight doors, she lacked enough lifeboats to accommodate the 2224 passengers and crew. As a result, when she sank only 710 people survived.

The sinking of the Titanic received worldwide acknowledgement and is now a significant part of world history.  It is this significance which led to the SAGCE launch of the collectable coin.

“SAGCE is proud to be a part of the 100^th anniversary that takes a moment to remember those that lost their lives that fateful night,” says Alan Demby, the executive chairman of the SAGCE.

The Titanic coin continues SAGCE’s tradition of commemorative coins.

Demby predicts that the coin will be well received thanks to the historical significance and the high quality of minting. A 5oz Titanic Mother of Pearl coin is already on the market and available as a collector’s item.

Some interesting facts about the Titanic include:

• She was 269.1m in length;
• 825 tons of coal was used per day to propel the ship;
• of the 64 number of lifeboats the Titanic was equipped to carry, she only had 20;
• the first lifeboat carried 28 people to safety but  had a capacity of 65;
• Six iceberg warnings were received before the collision;
• it took the ship 160 minutes (two hours and 40 minutes) to sink after hitting the iceberg; and
• those who survived the sinking of the ship but ended up in the sea, met a temperature  of -2 degrees Celsius, where most died of hypothermia.

Issued by Meropa Communications
On behalf of The South African Gold Coin Exchange
For further information, please contact Sarah Anderson
Tel:  (011) 506 7300 / saraha@meropa.co.za

Silver fell back to $32.14 down 84 cents. London moved it down to $32.08. Ahead of New York’s opening it stood at $32.10.

Gold (very short-term)

Gold will consolidate before having a weaker bias, in New York today.

Silver (very short-term)

Silver will consolidate before having a weaker bias, in New York today.

Price Drivers

While the jewelers strike in India is coming to an end the pent-up demand that built up during the strike has not fed through to the gold market, yet. The lower prices will add impetus to the release of this demand pressure. Add to this that in China there is a holiday for the rest of the week. We expect to see a marked drop in demand until either later this week or early next week.

Click here to read the full article >>

Source: Mineweb.com
Author: Julian Phillips
Posted:  Wednesday , 04 Apr 2012

Recently a Titanic coin was launched by The South African Gold Coin Exchange and The Scoin Shop.

Gold’s strong performance over the past couple of days points to the likelihood of a new bull run in the precious metal, says Alan Demby, executive chairman of the South African Gold Coin Exchange (SAGCE).

“At a new high for the year, gold has broken a significant downtrend. It has risen by as much as 15% since the December 29 low. I suggest that the market’s ability to remain above $1750 has caught the attention of momentum-based traders. My international contacts from the world money fair in Berlin, tell me that a wave of technically-motivated momentum-driven buying has been boosting the market.”

Demby observes that the technical buying has been supported by heightened Indian interest. India is by far the world’s largest gold importer.

“Indian gold demand is likely to show a year-on-year increase in 2012. Physical buyers in India had to contend with a sharply weaker currency in the second half of the year, which made the rupee gold price a lot more expensive. For 2012, however, the consensus is that the rupee could appreciate by some 12% against the dollar.

“That points to additional buying of gold bullion.”

Click here to read the full article >>

Alan Demby, SAGCE executive chairman, said India was the world’s biggest gold importer and that the country’s currency, the rupee, was set to appeciate in 2012.

“That points to additional buying of gold bullion,” he said.

Demby referred to a World Gold Council report, which highlighted growing demand for gold from China.

The report predicted that China would become the world’s largest gold market this year.

China’s demand last year was 769.8 tons, while India’s was 933.4 tons.

Click here to read the full article >>

Full Name:

Position: Executive chairperson of The Gold Group, incorporating the South African Gold Coin Exchange (SAGCE), The Scoin Shop and GIC

Main Activity of the Company: Trading in Krugerrands and collectable coins and medallions thorugh brokers and an online chain of shops in South Africa and the UK, known as The Scoin Shop

Date and Place of Birth: February 15, 1955, Manchester, UK

Education: BCom, University of the Witwatersrand, 1977; BCom (Hons), University of South Africa, 1979

First Job: Salesperson at record company EMI in 1977

Size of First Pay Packet: R400 a month

First Job with Present Group: Started dealing in coins in 1978, with only R1 500, and took over the SAGCE in 1992

Prior to Current Position: I started dealing in coins full time as a one-man show in 1979, started the Gold Club in 1981, bought the Gold Investment Corporation from SAGE Holdings in 1989, bought the SAGCE in 1992 and started the Scoin Shop in 1999

Value of Assets under Your Control: R800-million

Number of People under Your Leadership: About 400

Management Style: Chilled, jovial and cajoling – I lead from the front

Personal Best Achievement: My family and three children

Professional Best Achievement: Finalist in the international Retailer of the Year award. Through our involvement in the Nobel laureate medallion programme of the Mint of Norway and the Nobel Institute, being invited to the Nobel Peace Prize Ceremony and meeting Barack Obama

Person Who Has Had the Biggest Influence on Your Life: My father

Person Who Has Had the Biggest Influence on Your Career: I have worked for myself my whole career and have sought out many people and sought their advice and opinions

Person You Would Most Like to Meet: Nelson Mandela

Businessperson Who Has Impressed You Most: Raymond Ackerman

Click here to read the full article >>

Bullion rose in line with gains in the euro and equities on optimism about a Greek deal and comments from the Chinese central bank governor on willing to help the euro zone.

Click here to read the full BusinessDay article.

In a conference call with reporters after the release of fourth quarter earnings, which fell far below expectations, Cutifani said he saw the price of bullion averaging $1,700-$1,850 throughout 2012.

(Reporting by Ed Stoddard; Editing by Ed Cropley)

Zuma said the gesture was “a befitting tribute” to Mandela who was a symbol of the country’s struggle for freedom, human rights and democracy.

“With this humble gesture, we are expressing our deep gratitude, as the South African people, to a life spent in service of the people of this country and in the cause of humanity worldwide,” Zuma said.

The banknotes would make South Africans remember and appreciate their achievements in order to continue the journey towards a more prosperous society, Zuma said.

Saturday marks the 22nd anniversary of Mandela’s release from prison.

Marcus said the new notes would enter circulation later in the year. She said coins would not be affected at this stage.
new money

The current banknotes, that feature the Big 5 animals, had been in circulation since 1992.

Marcus said officials consulted widely on the notes, speaking to a wide range of people including Mandela’s former wife Winnie Madikizela-Mandela.

Gordhan said the new notes would “help South Africa to remember Mandela” and “institutionalise the memory of where we come from”.

Earlier on Saturday, German international news agency DPA reported lack of details about the nature of the announcement which briefly spooked markets.

The rand tumbled about 2.5 per cent versus the dollar.

“Traders worried that the central bank of Africa’s largest economy was about to make a drastic policy or personnel change while markets were closed,” DPA said.

However, the Mail and Guardian cited sources suggesting the announcement would likely be of a celebratory nature and possibly related to Mandela.

Following reassuring remarks from bank officials, who indicated that the news would not be about interest rates or resignations, the rand made a quick rebound. -Sapa

Source: IOL
February 11 2012 at 05:38pm
By SAPA

Gold prices held below $1735 an ounce in Europe on Thursday, underpinned by gains in the euro as Greece edged closer to a bailout deal, although stock market fluctuations after a raft of disappointing corporate results kept a lid on gains.

Prices are up 10,9% so far this year, buoyed by the view that US monetary policy will remain extremely loose.

It has failed to benefit, however, from the jitters over European debt that sent it to a series of record highs in recent years, as these were offset by currency moves. Gold prices rallied nearly 5% to then-record highs in the fortnight after Greece agreed its first bailout deal in May 2010.

“Gold has been trading along with everything else. It doesn’t seem to be a risk trade at the moment, as much as a dollar/euro trade,” said Citigroup analyst David Wilson.

As such, a failure by the Greek authorities to secure a deal could hurt gold, he said. “Strangely, if Greece doesn’t agree to austerity in the next couple of days, it might be negative for gold in terms of dollar/euro.”

Spot gold was at $1733,80 an ounce at 1024 GMT against $1733,39 an ounce late in New York on Wednesday, while US gold futures for February delivery were up $3,60 an ounce at $1732,90.

Click here to read the full article on BusinessDay.
JAN HARVEY
Published: 2012/02/09

Gold held steady near recent 11-week highs on Wednesday, supported by the euro’s rise to a two-month peak as investors bet that Greece will finally secure a second bailout needed to avoid default.

Greek political leaders are meeting in Athens on Wednesday afternoon to discuss conditions for the country’s second financing package, the Prime Minister’s office said.

They are trying agree a reform deal in return for a new rescue from a chaotic default, after repeated delays which have prompted warnings that the euro can live without Athens.

Spot gold was at $1745,70 an ounce at 1523 GMT, little changed from $1744,90 an ounce late in New York on Tuesday. US gold futures for February delivery were down $3,50 an ounce at $1742,90.

The euro’s rise to a two-month high helped gold to climb.

Click here to read the full article on BusinessDay.
VERONICA BROWN
Published: 2012/02/08

Alan Demby, founder of the world’s only gold coin retail chain.

We believe that 15% of every investment portfolio should comprise gold coins

Bullet Bio

• Born: Manchester, England in 1955
• Served as lieutenant in the South African army
• Owner of The South African Gold Coin Exchange since 1992
• Founder of Scoin Shop, the world’s only gold coin retail chain
• Finalist of the World Entrepreneur awards competition, organised by Ernst & Young in 2008

In 1980 Alan rented his first offices and started coin dealing on a full time basis under the company name of Gold Club. Since then his business has been on the up. In 1992, he bought The South African Gold Coin Exchange and went on to open the first Scoin Shop seven years later. To date, there are 25 Scoin Shops throughout the UK and South Africa that turnover approximately £60m per year.

How did you first get involved with dealing in gold coins?

I was called up to the army for two years and during my service a friend suggested that we deal in Kruger Rands. I’d never seen one before but nevertheless we put an advertisement in a newspaper, did a deal and bought a few coins. At the time (1977) I was based in Pretoria and the instruction came from my friend to go to the gold exchange and sell the coins we had bought. It all started from there.

How has your business evolved over the years?

In the army I learnt about buying and selling coins and met some coin dealers. So when I finished training I decided to go into it full time. I dealt via the newspapers and two years later started the Gold Club. It was just a little one man show but it slowly built up and then in 1989 I bought a company called the Gold Investment Corporation from SAGE Holdings. This company was involved with selling Krugerrands on a credit system, so it was a logical move for us as we had already made our coin sets available to purchase on clients’ credit cards. In 1992 we went on to buy The South African Gold Coin Exchange which is the brand used today.

You went on to set up Scoin Shops – tell us more.

In 1999 we relocated from the centre of Johannesburg to Sandton. Here there is a huge shopping centre called Sandton City where we opened our first Scoin Shop to try and attract the tourist market. This was successful and gradually more locals also became interested. Today we have around 50 stores throughout the country selling bullion and collectable coins.

What has led to the success of the Scoin Shops?

I think Scoin Shops have been successful because we democratise gold buying for the man on the street and pick themed coins that attract customers. Our Mandela medallions for example have sold very well.

You now have Scoin Shops in the UK. Why did you choose to come here and what challenges have you faced?

The conventional wisdom for South African companies wanting to expand is to come to the UK. The time difference isn’t an issue, it’s a simple flight away and of course there is no language barrier. We have three stores so far and plan to develop further. It’s tough to get established here because starting costs are much higher. However we have done some good deals with the British Royal Mint, we’ve got the rights to promote and market the Manchester United medallions which have been very successful and were involved with the Kate and William coins.

How did you come to be affiliated with the Nelson Mandela foundation?

From travelling to many different coin shows around the world I discovered that the mint of Norway had assembled a Nobel Peace Prize Laureate program. They approached the institute around 10 years ago and arranged to make a medallion of each winner of the Nobel peace prize. Royalties from the sale of these coins go to the Nobel Institute and to the winner’s foundation. Through our involvement with the mint of Norway millions of rands have gone to the Nelson Mandela Foundation, which is a fantastic cause.

Source: www.thesouthafrican.com
By Fred Quick on 23 January, 2012

2011 has seen a post-recession gold rush topping record prices. Many investors have moved away from property, shares, bonds and other commodities to get their foot in the door with gold. Everyone wants a piece of the action!

And the gold Bull Run continues: gold smashed through the $1800 per ounce resistance point earlier this year, and then through $1900 in August.  As the 11-year Bull Run continues, it is not unreasonable to expect gold to reach levels of $2000 and beyond, sooner than anyone expected.  Gold coins, medallions and bullion sales have consequently ballooned in 2011.

The reasons behind the continued Bull Run of gold are:

• Post-recession uncertainty in the market
• Economic turmoil in the Eurozone and emerging markets
• The unclear economic policies of the USA on quantative easing
• Riskier investments such as shares and emerging markets avoided
• Gold remains the safe haven or hedge against inflation

From Investor to Collector

While most buyers venture into the gold market with profit in mind, many become connoisseurs of gold coins and gold medallions. Bullion is subject to periodic profit taking when gold prices are high, but collectable coins tend to show a greater return on investment over the long term. Thus investors become collectors, knowing that over the longer term they can build a collection of a series of coins, and gain more from an entire set than from single coins or medallions.

When to Buy and When to Sell

With the current gold price at record high levels, any correction (or dip) in gold prices will signal the buyer to action in building a gold portfolio. Buying gold bullion coins, numismatic coins and collectable medallions is a tangible and exciting way to own gold. It is also a market which is easy to understand, easy to get into and easy to make a profit in.

• Collectable gold coins and medallions should always be bought when their price is lowest, or nearest to their release date. To financially benefit from collectable gold coins, they should be sold when their price is at its peak, normally four to seven years from the release date.
• Bullion coins should be bought when the gold price is low, and the Rand is strong. Conversely, bullion coins should be sold when the gold price is high and the Rand is weak to make the most profit. Bullion is viewed as a long term investment since the gold price in day-to-day trading can be volatile, yet an upward trend is visible over the longer term. South Africa’s bullion coins are the Krugerrand coins.
• A combination of collectable coins and Krugerrand bullion coins is preferable, to spread the risk of your portfolio and to give you the best opportunities of both. Bullion coins are not subject to VAT, but both bullion and collectable coins are subject to capital gains tax on reselling.  Speak to your tax advisor or local SARS branch for more details

Where To Buy Your Gold

As with any investment, it is advisable to do your homework before making any purchase. Deal only with reputable companies and be careful when buying coins from the public. Many new players have recently entered the market, so it is wise to compare the product offering and pricing, keeping in mind the terms and conditions. Prices may vary if larger amounts of coins are purchased. Hidden costs may be in the delivery and storage terms, and brokerage fees.  With all that said, there will never be a better time to start your gold portfolio than now!