Nearly six months to pay for my gold coin portfolio — still not settled in full

Nearly six months to pay for my gold coin portfolio — still not settled in full

GOLDGRO PROPRIETARY LIMITED t/a SA Gold Coin Exchange / The Scoin Shop

In January 2026 I sold my gold coin and numismatic portfolio to SA Gold Coin Exchange / The Scoin Shop (Goldgro (Pty) Ltd) for R6,383,300.00, on their own stated payment term of 30 business days — due 23 February 2026.

Payment did not arrive on time or in one instalment. It trickled in piecemeal: 16 January, 27 January, 13 March, 20 March, 2 April, 17 April, and finally 14 August 2026 — almost six months after the agreed due date. Despite a formal letter of demand, a balance still remains outstanding to this day.

I have now instructed my attorney to issue summons for recovery of the outstanding capital and interest. I will update this review with progress as the matter proceeds through the courts.

If you've sold coins or bullion to this company and were paid late, you should know that South African law (the Prescribed Rate of Interest Act) entitles you to interest on the late payment — you don't have to simply accept the delay. I had to insist on this myself.