JOHANNESBURG – The African Medallion Group (AMG) has signed a coin dealer agreement with the South African Mint Company, a subsidiary of the South African Reserve Bank.
AMG, which completed a take-over of Pagliari Group and Cape Mint in May last year, is now a reseller and redistributor of numismatic coins from the SA mint company.
Estee Maman, the AMG chairperson, said they were “highly honoured to be working with the South African Mint.”
The agreement was hammered out with the South African Reserve Bank affiliate in August 2018, details of which have just emerged.
“We’re very optimistic that our relationship with the SA Mint will enable us to add even more value to our global clientele. With the SA Mint’s undisputed reputation as a leading coin-maker and their vast experience owing to minting all of South Africa’s coins and several world-renowned coins, AMG is proud to be instrumental in putting world-class, African-made numismatic coins within the reach of many,” she said.
AMG, which was founded by Zimbabwean tycoon Frank Buyanga, says it surpassed the R6 billion threshold in gold reserves by the close of 2018, and sees the deal with SA Mint as a major growth pedestal.
Tied to the agreement with SA Mint, AMG will be rolling out jewellery stores around the world, with one already opened in the millionaires’ neighbourhood of Sandton, a suburb of Johannesburg.
“AMG’s retail establishment project is already in full swing,” Estee revealed. “We intend to make AMG stores the go-to place for world-class numismatics coins, through our relationship and trading agreement with SA Mint.
“With our recently-opened AMG store in Sandton already turning heads, we’re confident that our other retail stores, including one in Dubai, will perform just as well.”
AMG’s agreement with SA Mint, seen by ZimLive, allows the company to market and distribute coins around the world.