Selling Planchets

[eZethu Coins 10]

Apparently one is not allowed to be in possession of planchets for our currency according to our laws. Can somebody confirm this? And does it only apply to the current coinage or all decimal? I see some are on auction, but don't want to bid on it if I can't (legally) own them in the end anyway

 

RR

Edited September 29, 2010 by eZethu Coins
update

[BumbleBee 10]

I would imagine it is much the same as being in possession of the paper that our notes are printed on. The Reserve Bank Act does make reference to having blanks in your possession but does not specifically refer to which series, again I think it pretty much covers all RSA currency, not sure about Union and ZAR though.

 

The Reserve Bank Act can be found here...... South African Reserve Bank Act 90 of 1989

[kyle2 10]

I wonder what they would grade it if one sent it to be slabbed?LOL!

[eZethu Coins 10]

I would imagine it is much the same as being in possession of the paper that our notes are printed on. The Reserve Bank Act does make reference to having blanks in your possession but does not specifically refer to which series, again I think it pretty much covers all RSA currency, not sure about Union and ZAR though.

 

The Reserve Bank Act can be found here...... South African Reserve Bank Act 90 of 1989

 

OK - Thanks Stephen. I interpret it then that one is not allowed to be in possession AND therefor it is an illegal item and may not be advertised for sale on BoB. Do you - or anyone else for that matter - interpret it the same way?

 

RR

[afriventure 10]

Renaldo

See the reserve bank act 32 (1) (h) that it is an offence to be in possesion of a "blank" coin of same size and metal content of one in circulation, BUT it also states that it Only applies to coins and notes AFTER 1989! being the inception of the current act.

[eZethu Coins 10]

Renaldo

See the reserve bank act 32 (1) (h) that it is an offence to be in possesion of a "blank" coin of same size and metal content of one in circulation, BUT it also states that it Only applies to coins and notes AFTER 1989! being the inception of the current act.

 

The confusing part is references to earlier acts which makes me think that it could apply to the entire decimal series and not just the 3rd decimal series of 1989 onwards - lie what seems to apply to the notes part of our currency.

 

Now where is Jan when I need him to use his legal skills to interpret for me :-) Dr Professor Captain Kleynhans - an opinion from your side?

Edited September 29, 2010 by eZethu Coins
edit

[4kids 10]

You asked for it so here it is:

 

The current Act is a consolidation of all the various Acts that was in place already and should not be seen as singular Law without reference to these previous Laws.

 

"32 (1) (h) ..is found in possession of any blank or defective coin of the size, shape and metal composition of any coin of which the coining is authorized by this Act, and is unable to account satisfactorily for such possession;"

 

...refers to coinage under this act but also includes all coinage under the South African Mint and Coinage Act, 1964 (Act 78 of 1964).

 

The act in a round about and indirect way does make provision for someone to be in possession of such blanks and errors, albeit not in large quantities. You could argue that the blank / error coin was found in the change from your bank, which has happened to me a few times. All my staff are always on the lookout for strange things in their change and I get at least 20 to 30 error coins this way and have a number of blanks of various denominations. This year my 7 year old daughter picked up a 10 cent blank outside the gate of the Mint when we attended the open day.

 

So having a few such pieces collected over years in various denominations etc as a collector should not cause you to start changing your name and getting a false pasport just in case the cops are looking for you. The occasional selling of these items will also not draw attention and will in all probability be overlooked as well. Just do buy from the guy that has stock of 100 pieces of Blank Mandela 90th Birthday R 5.00 coins..lol..

[eZethu Coins 10]

You asked for it so here it is:

 

The current Act is a consolidation of all the various Acts that was in place already and should not be seen as singular Law without reference to these previous Laws.

 

"32 (1) (h) ..is found in possession of any blank or defective coin of the size, shape and metal composition of any coin of which the coining is authorized by this Act, and is unable to account satisfactorily for such possession;"

 

...refers to coinage under this act but also includes all coinage under the South African Mint and Coinage Act, 1964 (Act 78 of 1964).

 

The act in a round about and indirect way does make provision for someone to be in possession of such blanks and errors, albeit not in large quantities. You could argue that the blank / error coin was found in the change from your bank, which has happened to me a few times. All my staff are always on the lookout for strange things in their change and I get at least 20 to 30 error coins this way and have a number of blanks of various denominations. This year my 7 year old daughter picked up a 10 cent blank outside the gate of the Mint when we attended the open day.

 

So having a few such pieces collected over years in various denominations etc as a collector should not cause you to start changing your name and getting a false pasport just in case the cops are looking for you. The occasional selling of these items will also not draw attention and will in all probability be overlooked as well. Just do buy from the guy that has stock of 100 pieces of Blank Mandela 90th Birthday R 5.00 coins..lol..

 

Thanks Jan - I knew you where out there somewhere :-)

 

So if I read inbetween the "courtroom language" - I could be in the possession of an odd few and "get away" with it. But how about if I intentionally trade in them , i.e. buy them or sell them?

[Veto111 10]

I wonder what they would grade it if one sent it to be slabbed?LOL!

 

They do grade at the NGC, see listing below:

 

Special Circulation & Commemorative Coins - 1965? Republic of SA Blank set NGC Graded was sold for R1,738.00 on 28 Apr at 21:01 by zarmaniac in Pretoria / Tshwane (ID:21235400)

 

Cheers

Veto111