Krugerrand

Yeah, no question.

You should have at least a component of gold in your portfolio, and I would suggest that 10% to 20% would be about right, and perhaps a third to a half of that should be in physical gold, meaning gold Maple Leafs, Krugerrands, and Ingots, and things like

that.

The price of oil we talked about briefly, it's caused by the continuing dispute over the Strait of Hormuz and it being closed.

And she told me this one word, spot.

Kepasa, what is spot? But ever since then, and then I went over to Hong Kong, I bought my first Krugerrand.

This is an important point for many people to understand about silver and gold.

I bought that Krugerrand in Hong Kong in 1974.

I had to smuggle it in.

And I want you guys to hear this, because Rick won't understand where I'm going with this thing.

She wouldn't do it.

I saw the Vietnamese running with a gold leaf, not US dollars.

I love her more.

She's getting money from denominations, I don't even know what they are, Filipino Krugerrands? What is this? Do you ever see that sometimes? 20 million petrurkas.

What the hell is a peturka? It's, there's nothing like it.

And then she says, "Huh, you know, well, we're, we're off on Friday." Oh, you're off on Friday.

And of course, this carries forward our heritage in South Africa and the country, the wildlife, the stories that we tell.

Shane, South Africa already has the Krugerrand, which is known the world over.

How difficult is it to build another coin brand alongside something that I would suggest is globally dominant?

Well, I think it's iconic.

And it took the world by storm, and it took other minted countries a while to catch up.

It's probably the most traded and trusted coin globally.

So next year is our 60th anniversary of the Krugerrand.

And we will be celebrating that with more trust globally and increased awareness and demand.

I spent my entire investment career saying to the world, I don't hold gold, I don't want gold, I'm not interested in gold.

My view was always you should have one Krugerrand, so that if you have to toss a coin, you can pull out your Krugerrand and intimidate the opposition.

And suddenly, here I am, I said, I hold gold, I hold an England Gold Ashanti, I'm going to maybe buy some other gold mine in the next week or so.

I couldn't do it this week because I was on a shrunk run myself, but to pick up some more gold, and I'm holding gold by ETFs in New York and South Africa.

Krugerrand is because this guy says he...

It's like a gold coin, I think.

Oh, he says two rolls of Krugerrands my grandfather left me.

It's

a gold bullion coin introduced on July 3rd, 1967.

of coal

wrapped in a little toilet paper.

Got two rolls of Krugerrands

Then I'm to ask you for my box.

Carry it to the room and take out the Krugerrands and put them in the wastebasket.

I'm to leave them there when I shut the box and bring it back to you to put away.

Then I'm to go home.

In fact, I'm taking it.

See, I'm loyal to the Krugerrands.

We're money.

But the

Um, and so look, I think what the last 10 years has all taught us is not to discount the, the unlikely or the unexpected.

And what's your favorite type of bullion? Are you a Sovereign guy, a Britannia guy, a, a Krugerrand guy, a bar guy? What, what do you, do you have a favorite?

Well, as a, as a UK resident, for me it's about tax efficiency, tax advantages.

So any UK coin, whether or not it's Britannia or Sovereign, uh, and it's the same for silver as well, benefits from the fact that they're legal tender, which means that any growth is, um, is, is exempt from capital gains.

... was their gold, right? Because it was physical and there was no central database of where they were able to register it.

Yeah.

Not so easy now, though, 'cause of, like my stepdad, for example, left South Africa in 1970-something with 50 Krugerrands, and in those days that was the sort of heyday of gold smuggling.

And Dubai, people don't know this, but Dubai was actually built on the back of gold smuggling from-