Krugerrand dealers no longer required to be members of SAAND

The Competition Commission and precious metal smelting and refining complex Rand Refinery have agreed that dealers of Krugerrands no longer have to be members of the South African Association of Numismatic Dealers (SAAND). The agreement follows an investigation by the commission into allegations that Rand Refinery makes it a condition for anyone who wishes to be appointed as a dealer of bullion Krugerrand to be a member of SAAND, which is a voluntary association in the South African numismatic industry. In terms of the agreement, Rand Refinery has undertaken to remove all clauses in relation to the requirement from its application forms, as well as its website.