Growing up I have been seeing a lot of people collecting the Mandela Coins with the hope of exchanging them for a much higher amount as they are believed to be precious coins.
For some, the collection has turned into a hobby while for some it is valuable practice.
If you have been collecting the coins or have been wanting to do so, it will be great to know what the Mandela Coins are worth and where you can sell them.
What are Mandela Coins?
Mandela coins national mints-produced coins that were created in recognition of South Africa’s ex-president, the late Nelson Mandela. The first Mandela coin was launched in 1994 in honour of the Inauguration Ceremony.
Currently, there are three types of Mandela coins, and each coin carries its unique significance.
1. Mandela Inauguration Coin
The first Mandela coin was rolled out in 1994 in honour of the first black president of South Africa’s inauguration ceremony. Due to its value at that time, this coin was a limited edition hence it is no longer widely available as investors rushed to purchase them as soon as they were released.
2. Mandela 90th Birthday Coin
In 2008, the second Mandela coin was released in honour of Mandela’s 90th birthday wherein about 22 million R5 coins were produced. The coin value is believed to be set at R150 000.
3. Mandela 100th Anniversary Coin
Mandela’s 100th birthday in 2018 was honoured with the release of a R5 coin. This coin was to be used as regular money.
Mandela Coins Selling Price
The value of the Mandela coins is not widely shared or known as each buyer has their own set price which can be determined by various factors.
The price may range from R500 to R10 000.
Top 5 Places to Sell Mandela Coins
1. South African Reserve Bank
The South African Reserve Bank (SARB) is one of the banks that buy Mandela gold coins from the public, this includes the Protea Series, Krugerrand, and Natura Series gold coins.
The SARB only purchases gold coins that are deemed to be legal. Unfortunately, they do not buy back commemorative R5 coins that are in circulation as their value is retained at R5 only.
Customers who want to sell their commemorative coins or gold coins that are not deemed to be legal tender are advised to approach a coin dealer.
SARB does purchase the gold Mandela coin that forms part of the Natura series of gold coins.
The value of each coin is determined by the market gold price and dollar exchange rate on the day of selling.
The purchasing of legal tender gold coins from the public is offered on Wednesdays, between 09:00 and 12:00 strictly on an appointment only.
2. Bidorbuy
You can sell Mandela coins on BidorBuy, which serves as South Africa’s most experienced marketplace that buys and sells anything legal.
To sell your Mandela coins, you will have to register on the site and select the sell an item option, upload the listing of the item you would like to sell in this case, the Mandela coins and potential clients will be in contact with you if they are interested in purchasing your Mandela coin.
3. Gumtree
Gumtree is also an option to consider selling your Mandela coins at. You can use the platform to place a free ad for the coin you would like to sell and for a wider Ad reach, you may consider paying for a listing.
To get started, you will have to sign up on the site and create a free user account. Once done, you will see the option to post an Ad under the category that will work for your Mandela coin listing.
Just like Bidorbuy, interested customers will contact you.
4. Junk Mail
Junk Mail is considered South Africa’s leading free classified portal to buy and sell goods with ease.
You may sell your Mandela coins on Junk Mail by visiting the site and selecting the option to sell an item. Provide all sufficient information that is relevant to the sale of your coin and interested customers will view your ad and contact you for purchase.
5. SA Coins
SA Coins has the largest Mandela 90th birthday R5 coin collection in South Africa. This platform deals specifically with the Mandela coins.
It is the best place to sell our Mandela coins, especially the rare ones.
The site is highly trusted as it offers a verification process for all coins being sold on the platform. You may visit the website to sell your Mandela coins.
Be Careful of Scams
As a seller, you will need to be alert of potential scams. For each promising sale please take the needed precaution and confirm if the interested buyer is indeed authentic.
Don’t be too quick to sell, take your time to think of a suitable price for your precious coins. Where you decide to sell your coin will also determine the price.