For a lot of Johannesburg households, Heritage Month in September doubles as the season when drawers, safe deposit boxes and long-forgotten family collections finally get a proper sort-through. Krugerrands turn up in that clear-out more than almost anything else. The Gold Avenue, a buyer of gold, diamonds and luxury watches operating from Illovo Point, 68 Melville Road, Illovo, Sandton, reports that inherited coins are one of the single biggest reasons people come to see them, and it has spelled out how selling works for heirs and executors who have never handled a coin sale.
For decades, Krugerrands sat quietly at the heart of South African family saving. People bought them as presents, as a hedge for retirement and to mark anniversaries, then tucked them away and rarely mentioned them again. Once the original owner dies, the coins pass to a husband or wife, to children, or to grandchildren who may not recognise what they are holding, cannot say how many ounces sit in the box, and have no idea what to do next. Because it deals with these families all the time, The Gold Avenue takes the view that the whole thing should be explainable in ordinary language before anyone agrees to sell.
What an heir usually finds in the box
One thing catches most families off guard straight away: a coin collection is seldom made up of matching pieces. Krugerrands came in several sizes. The full one-ounce coin contains a single troy ounce of pure gold, while the smaller versions hold correspondingly less. Half-ounce, quarter-ounce and one-tenth-ounce coins were all struck, and a hoard assembled across two or three decades will commonly hold some of each. Heirs tend to expect every coin in the tin to be identical, then worry that a smaller one might be worthless.
Far from it. Value tracks the gold content, and a fractional coin simply holds a proportional slice of it. Rather than tallying up coins and multiplying by one figure, The Gold Avenue weighs and tests each coin on its own, and that distinction counts for a lot with a mixed collection. The same logic covers gold coins that are not Krugerrands, which also appear in estates next to jewellery and watches.
How the rand figure is worked out
To price Krugerrands, The Gold Avenue uses what it describes as the spot-plus-premium method, built from three inputs. First is the live gold spot price, which trades worldwide, is quoted in United States dollars per troy ounce, and shifts across the trading day. Second is the United States dollar to rand exchange rate, because a softer rand generally lifts the rand value of gold while a firmer rand pulls it down. Third is the weight of the exact coin being sold. A recognised one-ounce coin normally attracts a modest premium over the bare metal value.
Not one of those three inputs is dictated by the buyer, and not one of them sits still. For an heir heading into an appointment, that is the most useful fact to grasp. Any offer reflects the market as it stood that day, and the company’s published notes on the Krugerrand price in rands break down all three inputs so a seller can trace the sum instead of accepting a figure on faith. The Gold Avenue issues no predictions about where gold is headed, and it will not tell a family whether to hold or sell. It values whatever is placed in front of it, on the day.
The six steps, from first call to payment
There is a six-step process, and it is intentionally brief. The seller makes contact, brings the coins in, watches them tested, receives an offer, decides without pressure, and is paid that same day. The company’s notes on how to Sell Krugerrands in South Africa walk through the steps in the exact order a family encounters them across the table.
For a jittery first-timer, step three is the one that counts most. Every coin is weighed and tested right in front of whoever brought it in. Nothing disappears into a back office, and nothing is judged out of sight. When an heir turns up with a box they did not fill and cannot check themselves, watching the scale and the test is what separates a deal they genuinely follow from one they simply have to trust.
Step five matters just as much. What The Gold Avenue puts forward is an offer, not a binding agreement. A seller can turn it down, take the details away, and return later or never. Families winding up an estate often have to check with a sibling, an executor or a lawyer before letting anything go, and the company regards that as a routine part of the process rather than a hurdle. When a seller does say yes, payment follows straight away, in cash or by electronic funds transfer, the same day.
Estates rarely contain only coins
There is another everyday truth about inherited collections: the Krugerrands seldom sit alone. The same safe usually holds gold jewellery that is broken, never worn or simply dated, along with diamond pieces and the odd luxury watch. Since The Gold Avenue buys every one of those categories, Rolex, Patek Philippe, Cartier and TAG Heuer watches included, a family need not line up separate appointments with separate specialists to settle a single estate. It can all be assessed in one sitting, and the seller can let some items go while keeping others.
There are also collateral-backed cash loans for anyone who would sooner borrow against a piece than give it up. That matters to heirs in particular, since an inherited item may carry sentimental value that has nothing to do with its gold. A family that wants to hang on to a specific coin or ring yet needs cash from the rest of the collection can manage both at once.
Where the appointment happens
Valuations take place at Illovo Point, 68 Melville Road, Illovo, Sandton, 2196. The offices occupy the eighth floor of a secure building with on-site security, surveillance and controlled access, which counts for a great deal when someone is carrying a coin collection across Johannesburg. Appointments are arranged ahead of time by phone, on WhatsApp or via the website, and sellers are asked to outline their items in advance so the right specialist is on hand.
For anyone who would rather not travel with an inherited collection in the first place, The Gold Avenue provides home appraisals. Older sellers reach for that option regularly, as do families dealing with a deceased estate whose safe has not yet been emptied.
Credentials and compliance
As a registered business, The Gold Avenue works within South African financial and FICA rules, so sellers should be ready to hand over identification with any transaction. The company is affiliated with the Gemological Institute of America, the Jewellery Council of South Africa, the National Credit Regulator and the European Gemological Laboratory. Its founder, Trent Saldsman, was shortlisted for the Eric Ellerine Entrepreneur Award in 2024.
Those affiliations are worth verifying with any buyer, not just this one. Someone selling an item they never bought stands on weaker ground than a seller who knows precisely what they hold, and the usual safeguards are what narrow that gap: a business at a fixed address, testing the seller can watch, a written offer, no push to accept, and a payment method that leaves a paper trail. Full details of the valuation and payment process are available on The Gold Avenue website at https://thegoldavenue.co.za/.
About The Gold Avenue
The Gold Avenue buys and sells gold jewellery, diamond jewellery, luxury watches, Krugerrands and gold coins in South Africa, and offers collateral-backed cash loans. The business operates from Illovo Point, 68 Melville Road, Illovo, Sandton, in Johannesburg, with valuations carried out in front of the client and settlement by cash or electronic funds transfer on the same day. Home appraisals are available. The Gold Avenue is a registered business that follows South African financial and FICA requirements, and holds affiliations with the Gemological Institute of America, the Jewellery Council of South Africa, the National Credit Regulator and the European Gemological Laboratory.
Media Contact
The Gold Avenue
Email: [email protected]
Phone: +27 10 109 0080
Website: https://thegoldavenue.co.za
