Mandela R5 coins in circulation again?

[esteve 10]

Recently found new coins at shops and even the litchi seller (nom nom nom) in KZN. Can any one explain the sudden availability please

[RISadler 10]

People realising the coins are actually worth just five Rand? :sowsuser:

[kyle2 10]

I see these from time to time also, looks like the novelty is wearing off.

[RISadler 10]

... looks like the novelty is wearing off.

 

OK, as long as Nelson doesn't like ol' Jannie used to do.

[unicoin 10]

Nelson Mandela 90th Birthday R5 coins

 

Hi all,

 

I received 2 of these coins in change since 2008. Still have more than hundred of them.

 

What about mount them in say, silver and sell as jewelery? It must'nt cost to much though.

 

It just hard for me to use it for cash,do not feel right. It is a beautiful coin and have a lot of history.

 

Just maybe, after the death of the beloved Madiba, with all due respect, the coin may skyrocket in demand and price.

 

Remember Michael Jackson, was a near "hasbeen" and after his death his old records etc. sold for lots of money.

 

Nelson Mandela is worldwide loved and known. Even if they only heard their name.

 

Regards

Unicoin

[Pierre_Henri 94]

Nobody is going to buy them....

 

Just maybe, after the death of the beloved Madiba, with all due respect, the coin may skyrocket in demand and price.

 

 

The opposite is going to happen - in my view the whole R5 Mandela frenzy (or what is left of it) is going to come crashing down when Mandela dies.

 

How many thousands of people have been hoarding these coins in their hundreds if not thousands over the years? There must be millions of R5 Mandela coins stacked up in Oom Pieter from Potgietersrust and Tant Sannie from Sasolburg's cupboard(s) miraculously waiting for a lottery-type of payout when Madiba dies.

 

But who is going to buy it?

 

Bar a few Japanese or German visitors who might pick up a few to take home, I would say just about nobody. Everyone already got more than enough plus a few to spare...

 

Sad but true

 

Pierre

[Rare NotesCoins 11]

Piere, you must remeber that they minted 22 106000 in total.

 

They also released it in 4 batches and that is why all of a sudden you get bags full. The green bank Anthony works for get their coins from SBV . As I understand they get the coins and sort them and seal them in bags. (By sorting I mean they put it in a machine that makes bags of 400). That explain why you will find 2009 coins in the 2008 bags. With these coins circulating in millions they come up often. With a pop report off MS 66 standing at almost 40 000, watch that amount double in the next two months. I agree that the best you can do is to buy youre kids a sweet, or if need be sell it for a R1 auction. And hold thumps. Both off them and a friends.

 

 

Morne

[RISadler 10]

With a pop report off MS 66 standing at almost 40 000 ...

 

Wow, that's two-hundred-thousand Rand worth of coins slabbed. Now I wonder how much did NGC make out of this frenzy? At R500 per grading, that's twenty-million Rand! :nuts:

[Rare NotesCoins 11]

Grading cost is not that high. People who send 300 + coins pays as little as R80 per coin to grade, but hell yes they make alot of money. There will always be a market for these coins. Our job is to let all the newbies know not to pay R9500 in Santon or R3500 anywhere else. I get guys from 20 to 69 coming to the shop who have bought these coins at the "Horrific prices". THEY WILL NEVER BUY COINS AGAIN!!!!. Because people rip them off so badlly. I have had phone calls from these poeple , but I will keep on warning people about them as this is soooooo wrong on so many levels.

 

It is firts greed and ingnorance that they pray on and my opinion it borders on theft.

Try explaining to a 60 year old guy that the R200 000 he spend on these coins are only worth R8000. I can still see the hurt and the dissapointment in his eyes. Disappointment in people that are suppose to help you invest money you work so hard for over a lifetime.

 

I might not know allot about variaties or die strikes, but I will warn people every single day. May this hobby grow to be the desired hobby of Kings and poor people alike

 

What have you done for this hobby today?

 

Morne

[RISadler 10]

... pays as little as R80 per coin to grade ...

 

This reminds me of the standard US Armed Forces joke... "Always remember that [insert equipment here] was made by the lowest bidder!"

 

So for a mere eighty bucks you get your coin "opinionated", and that price includes the plastic slab, hologram insert and lifetime guarantee. :wtf: Well, honestly...

 

Wonder if they'll grade my circulation coins MS70 if I slip them an extra hundred? :sneaky: