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2023-03-21 9:40 PM

Where and how to Sell Mandela Coins – Price List

By Lethabo Ntsoane

There has been some confusion about which Mandela Coins have a higher value than what is stated on the coin itself. The most common mistake that South Africans make is believing that the R5.00 Mandela Coin has more value. The R5.00 Mandela coin is, in fact, R5.00 in value.

According to the South African Reserve Bank (SARB), “commemorative R5.00 coins in circulation (circulation coins are the coins produced by the South African Mint for everyday transactions) retain their value of R5.00 only.” This statement implies that even the SARB does not purchase any circulation coins.

However, there are R5.00 Mandela Coins that are worth more than their face value. The South African Mint issued these coins as proof coins in limited quantities. Proof coins are typically packaged in capsules and accompanied by certificates proving their authenticity.

Mandela R5.00 proof coins have a low value as well, selling for between R100.00 and R900.00 per coin. Some coin exchange companies do not believe Mandela proof coins have any value other than their face value. This is because the R5.00 Mandela coins were produced in large quantities.

Here are some of the estimated resale prices for the R5.00 Mandela proof coins in a capsule.

Mandela R5.00 coin prices

Coin Description PlatformPrice
90th Birthday MS 65EbayR492.00
90th Birthday MS 66TakealotR429.00
Mandela Centenary Coin MS 67EbayR297.76
Mandela Centenary coin MS 68 EbayR501.94

The price quoted is the retail price from the retail platform(s) as quoted by other retailers. If you have one of the R5.00 Mandela proof coins, your coin may be worth the estimated retail price. Prices may vary due to pricing competition from other retailers on the platforms.

Despite the fact that these proof coins are sold for more than their face value, some coin exchange companies still value them at face value and do not purchase Mandela Coins. The South African Gold Coin Exchange and the SARB are two coin exchanges that treat these coins as R5.00 coins.

Where can you sell the Nelson Mandela Coins?

You can sell your Mandela Coin on a variety of online marketplaces (s). Here’s a list of marketplaces where you can sell your Mandela Coins.

1. Takealot

Takealot is the largest marketplace in South Africa and one of the best places to sell your Mandela Coin. The marketplace exposes you to millions of buyers across South Africa, increasing the likelihood that your Mandela-proof coin will be purchased.

The company act as a facilitator or middleman to ensure that the coin is sold to a paying customer when sold through Takealot. As a result, there will be no payment issues, and Takealot will relieve you of the burden of facilitating a transaction with a customer.

2. Bid or Buy

Bid or Buy is one of South Africa’s most popular online marketplaces, and selling a Mandela coin there provides much more exposure. On the platform, any type of Mandela coin can be sold; however, limited edition Mandela coins are more popular on the platform. 

3. Facebook Marketplace

The Facebook marketplace is one of many places to sell Mandela Coins. Sellers can sell and price items on the Facebook marketplace. Although Facebook Market is a good place to start selling Mandela Coins, it has its own drawbacks.

You must facilitate the trade through the Facebook marketplace by making a delivery and ensuring that you are paid. The authenticity of the coin may be called into question upon delivery, and the cost of selling the coin will rise due to additional delivery costs.

4. GumTree

Gumtree is one of the marketplaces where you can sell a Mandela coin. The seller is free to set any price for reselling the coins. The seller is in charge of facilitating the transaction with the customer by delivering the coin and collecting payment. The distance can be an issue for customers looking to purchase the coin, increasing the cost of selling the coin. 

5. eBay

eBay is the world’s second-largest marketplace, and selling anything on the platform provides excellent exposure. The marketplace enables sellers to sell their goods to buyers all over the world. You will be able to sell Mandela coins all over the world if you sell them on eBay.

The most valuable Mandela Coins

The most sought-after coins are the Nelson Mandela commemorative coins. The South African Mint issued these coins to commemorate Nelson Mandela’s life. The coins are available in two editions: the Robben Island collection and the Legacy collection.

The collection is primarily aimed at coin collectors, with prices ranging from tens of thousands to hundreds of thousands of rands. The coins are made of gold and are limited edition. The metal used and the story behind the coins clearly warrant the value quoted on the coins.

FAQ for Mandela Coins

  1. What are Mandela Coins?

Mandela Coins are commemorative coins issued in honor of Nelson Mandela, the former President of South Africa and a Nobel Peace Prize laureate. These coins celebrate his life, achievements, and the legacy he left behind. They were first introduced in 2008 and have since been issued in various denominations and designs.

  1. What is the purpose of Mandela Coins?

Mandela Coins serve as a tribute to Nelson Mandela’s contributions to South Africa and the world. They help promote awareness about his life, struggles against apartheid, and efforts to foster peace and reconciliation. Collectors and numismatists value these coins for their historical and artistic significance.

  1. Are Mandela Coins legal tender?

Yes, Mandela Coins are legal tender in South Africa, meaning they can be used as a means of payment. However, due to their limited mintage and collectible value, they are typically not used for everyday transactions.

  1. What denominations and designs are available?

Mandela Coins are available in various denominations, including gold and silver coins. The most popular denomination is the R5 coin, which features Nelson Mandela’s portrait on one side and the South African coat of arms on the other. Some special edition coins have been released over the years, featuring different designs to commemorate specific milestones in Mandela’s life or to mark significant anniversaries.

  1. Where can I buy Mandela Coins?

You can purchase Mandela Coins from authorized dealers, the South African Mint, or through online platforms such as eBay and other specialized numismatic websites. Be sure to verify the authenticity and condition of the coins before purchasing, as counterfeit coins may be in circulation.

  1. Are Mandela Coins a good investment?

As with any collectible, the value of Mandela Coins can fluctuate depending on factors like rarity, condition, and market demand. Some coins have appreciated in value over time, but there are no guarantees. It is essential to conduct thorough research and consider the risks involved before investing in collectible coins.

  1. How can I determine the value of my Mandela Coins?

The value of Mandela Coins depends on factors like rarity, condition, and current market demand. You can consult coin catalogues, online price guides, or seek the opinion of a professional numismatist to get an estimate of your coin’s value.

  1. How should I store and care for my Mandela Coins?

To maintain their condition and value, it is crucial to store Mandela Coins in a cool, dry place, away from direct sunlight or extreme temperatures. Use protective holders or capsules made specifically for coins to prevent scratches, fingerprints, or other damage.

  1. Can Mandela Coins be used in other countries?

While Mandela Coins are legal tender in South Africa, they are not commonly accepted as currency in other countries. However, collectors and numismatists worldwide may be interested in trading or purchasing these coins due to their historical and artistic significance.

  1. How can I verify the authenticity of a Mandela Coin?

To verify the authenticity of a Mandela Coin, examine the coin’s design, weight, and dimensions, and compare them to the official specifications. You can also consult a professional numismatist or an authorized dealer for confirmation. Be cautious when purchasing coins online or from unfamiliar sources, as counterfeit coins may be in circulation.

Conclusion

Mandela coins can be purchased from a variety of marketplaces and dealers worldwide. The most valuable Mandela coins are collectible coins, which can sell for thousands of rands as a set. Circulation coins are valued at face value, and only proof Mandela coins can be sold at a premium, but no marketplace sells them for more than R1,000.00.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo