At the time of writing (March 2009) the majority of bullion dealers have been struggling to source one ounce bullion Krugerrands. We believe there are a couple of reasons for this; the first being that physical demand for gold appears to have increased this year; secondly due to the August slowdown , but also Lemming-like behaviour from "investors" completely blind to any other one ounce gold bullion coins.
Due to the increased demand one of our suppliers - a major European bank - ordered 10,000 pieces of 2008 Krugerrands from the Rand Refinery, and after a few months they had only received 2,000 coins from their order. We had been hoping to get some of their spare coins, but the deliveries remained in backlog for the rest of the year, and into 2009.They expected to receive the second part of this shipment towards the end of October, which is when we expected to receive our first shipment. This never materialised.
As we are having to source these coins from the primary market they are obviously costing us slightly more than they would on the secondary market, so our prices will have to reflect this. However, we are still offering them at our usual competitive prices compared with other dealers.
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