Has NGC stopped accepting Mandela 2000 R5's for grading?

[Keane16 10]

Hi all,

I'm pretty new to Numismatics, but absolutely loving learning everything about it.

I also want to say that this is my first post on here and going back in this forum and reading all the old messages, has certainly helped broaden my knowledge of the subject.

 

Anyway, on to business ...

I read somewhere (I think it was here on the forum), that NGC will not accept any more Mandela 2000 R5 coins for grading.

Is this true?

Why would they do that?

 

I came into the Numismatic hobby via the Mandela coins, as I'm sure a lot of people new to the field do do nowadays. Since I have been exploring it a lot more I've realised how over-hyped the Mandela coins actually are.

If NGC has discontinued accepting these coins, then surely the value of the ungraded coins will drop to the proper value of R5 and the graded coins will appreciate as no new coins will be coming onto the market?

 

Any thoughts?

 

Thanks,

Mark

[jwither 17]

Unless you see something on the NGC website to corraborate this statement, there is no reason to believe that NGC will not continue to grade the Mandela 2000 5R. All it is is hearsay.

 

As for the future financial potential of these coins, Even if a single one was never added to the NGC and PCGS census, I consider both the Mandela 2000 and 2008 5R (90th Birthday) to be among if not the most over priced coins in the world. (The Mandela 2008 NGC MS-69 5R which the South Africa Coin Company claims to have sold for R2.5MM or about $338,000 is the most overpriced coin in the history of the world.) The basis of this statement is their relative numismatic merits which collectors generally use in pricing coins and comparing the prices of these coins to others. Whether this will make any actual difference in the future is anyone's guess but I would not be a buyer of them unless they fell substantially from current levels.

[EWAAN Galleries 11]

Hi all,

I'm pretty new to Numismatics, but absolutely loving learning everything about it.

I also want to say that this is my first post on here and going back in this forum and reading all the old messages, has certainly helped broaden my knowledge of the subject.

 

Anyway, on to business ...

I read somewhere (I think it was here on the forum), that NGC will not accept any more Mandela 2000 R5 coins for grading.

Is this true?

Why would they do that?

 

I came into the Numismatic hobby via the Mandela coins, as I'm sure a lot of people new to the field do do nowadays. Since I have been exploring it a lot more I've realised how over-hyped the Mandela coins actually are.

If NGC has discontinued accepting these coins, then surely the value of the ungraded coins will drop to the proper value of R5 and the graded coins will appreciate as no new coins will be coming onto the market?

 

Any thoughts?

 

Thanks,

Mark

 

Hi

 

NGC will continue to grade them... But most of them grade Proof Like and not proof....