The Intriguing Tale of Vanishing Gold Kruger Coins Worth Millions.

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In a puzzling turn of events, a cache of valuable gold Kruger coins, valued at an astonishing 380.000 USD, mysteriously disappeared from a secure bank vault. This enigmatic disappearance led to the conviction of a banking officer on theft charges and an eight-year prison sentence. However, what unfolded next added a layer of complexity to the story, as it appeared that the elderly owner of the coins had an uncertain grasp of the number of coins he possessed.

Around 480 Kruger coins vanished over decades, with Elvin Victor Krull, an 82-year-old complainant, acquiring them since 1994. His investment began with around 300 coins, but he never kept a precise count. He stored these coins in Safety Deposit Box 9B at Nedbank in East London, which he rented in 1994. By 1995, his collection had grown to 400 gold coins, coinciding with Kevin Kaschula’s employment in the bank’s forex department.

Avers et revers de la krugerrand or une once 1976.
Obverse and reverse of the South African gold coin “Krugerrand” with a one-ounce gold content, dated 1976. The “Krugerrand” gold coin from 1976 is made of 22-carat gold, which is equivalent to 91.66% gold content.

Krull sporadically visited the bank vault to add to his collection, estimating over 700 coins in total. However, in 2015, during his 80th birthday, he discovered his first aid box missing from Box 9B, replaced by a smaller cash box containing 320 coins. Further investigation revealed a second safety deposit box, Box Number 26, registered in Kaschula’s name, holding 80 more Kruger coins. Kaschula claimed these accounted for all coins purchased on behalf of Krull Sr. by the bank.

Kaschula defended himself, asserting that he didn’t steal the 480 coins. He had been employed at Nedbank since 1994 and initially purchased coins for Krull Sr. on an ad hoc basis. He documented these purchases in writing, and he maintained that the total number was 400. Kaschula discovered the extra 80 coins in Box 26 in 2015 when informed about the missing coins.

Krull Sr. believed he had acquired more coins over the years, though the exact number eluded his memory. The absence of records documenting access to Safety Deposit Boxes 9B and 26 left the mystery unsolved, as the original coin count remained uncertain.

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