NGC Graded PF70 - Robben Island 2002 1/4oz Gold (Mandela)

[Look or Buy 10]

NGC Graded PF70 - Robben Island 2002 1/4oz Gold (Mandela)

Auction For R1000000

Hi All

Interesting to see NGC Graded PF70 - Robben Island 2002 1/4oz Gold (Mandela)

 

Gold & Bullion Coins - 2 days auction - Robben Island 2002 1/4oz Gold (Mandela) NGC Graded PF70 - Perfect Extremely Rare for sale in Bloemfontein (ID:31168796)

 

Regard

Look or Buy

[EWAAN Galleries 11]

Hi

 

We sold 3 of them....

 

Last one see below:

 

Gold & Bullion Coins - Look@@@ Robben Island 1/4oz Gold NGC PF70 -1 of only 3 Graded PF70 @ R1 Start was sold for R17,700.00 on 22 Feb at 21:01 by EWAAN Galleries in Johannesburg (ID:18990534)

[Look or Buy 10]

Hi Ewaan Galleries

Your are sold so cheap, do you still have any ???

Because I brought from other guy and he sold so expensive.

[Pierre_Henri 30]

Huh? - a direct advertisement on the forum?

[jwither 11]

I could not find these in my Hern Guide. How many exactly are there? And by how many, I do not mean how NGC has graded or graded as PF-70 because that is not very meaningful for a modern issue of any kind.

 

But in any event, R1MM as an ask price is ridiculous even if there are only 10 of them.

[EWAAN Galleries 11]

Mintage is 700..

 

We sold 3 x PF70's in total. 2 sold for R30000-00 each and one for R17600-00.

 

Its a modern SA Mint coin so 1 million would be a bit high.... We would say current value is maximum R35000-00 if there is a willing buyer at that price

 

Total 25 of the 700 minted Graded at NGC

 

3 x PF70

21 x PF69

1 x PF68

Edited January 8, 2011 by EWAAN Galleries

[jwither 11]

R1MM is a "bit high" for a coin with a mintage of 700? That is a very generous description.

 

The only reason I can think of why it sells for R30K or even R17500 is because of the historical association with Mandela since its not even a Mandela coin, as his portrait is not even on it.

 

Given that mintage and that grade distribution, I would expect that the typical grade is PF-69 and since most of the 700 almost certainly still exist in their original state, either of those two prices are extremely generous to say the least.

 

By way of comparison, the QEII 1956-1959 proof gold pounds have mintages that are less than that and some of them might have been melted; They all sell for a fraction of this coin. Even the 1923 proof sovereign, which with a mintage of 655 is not scarce at all and in my opinion is very expensive for its scarcity, sells for only slightly more in a grade of PF-64.