The Mandela coin selling price starts at R500, an offer from SARB. The value of Mandela coins varies with authorized coin dealers in South Africa. Prices range from Rand 1,000 to Rand 10,000, depending on rarity.
Which Bank Buy Mandela Coins In South Africa?
The South African Reserve Bank (SARB) buys Krugerrand, Protea series, and Natura series gold coins including Mandela gold coins from the public. However, the SARB will only pay for the gold content of each coin, and no premium is paid for the scarcity/collectability of the coin.
Where to Sell Mandela Coins – Price List and Which Banks Buy
Many people collect South African coins, such as the Nelson Mandela coins, as a hobby, but there is more to this practice than many people imagine. First, the process is more valuable since these coins can be sold for a profit to the right buyer. Mandela coins, for example are some of the most lucrative coins you can invest in. You may want to know how much they cost currently if you have a few of them around. However, it only makes sense if you can get the actual cost of the coins and also the know-how and where to sell them.
Generally, these coins are meant to serve as recognition of South Africa’s legends’ input. It is impossible to talk about the history of South Africa without mentioning these coins. These commemorative coins have been circulating since their launch on the eve of Nelson Mandela’s 90th birthday. Coin collectors continue to seek out these valuable coins.
Where to Sell your Mandela Coins
While it is generally known that Mandela coins have a significant value, no specific price tag is attached to them. The value of the coins keeps fluctuating and may depend on the supply and demand needs at the time. However, it is estimated that the value of the coins was highest or rose sharply during Mandela’s death period. In 2017, R27 of each coin sold was donated to the Mandela Foundation. However, the prices have changed since.
Collectors are asked to be careful when deciding where and whom they want to sell the Mandela coins. Since there are no specific values attached to the coins, it is up to the collector of these coins to do thorough research before deciding where to sell the coins. Experts advise having several online and offline options to ensure that they are not getting a raw deal. With proper research, it is possible to get a significant return from selling the coins. Where one sells the coins depends significantly on their personal preference. While some people would rather visit a local shop to sell the coins, others have no issue selling them online. Whichever option you choose, make sure it is right for you. Below are a few places that make sense if you are interested in selling the pieces at a reasonable pricing.
South Africa Reserve Bank
You go the South African Reserve Bank (SARB) for your coin purchase. When you go, you will need to show the coin(s) to the gold coin teller at the SARB Head Office in Pretoria along with proof of residence, ID, and a bank statement. The bank will then use the current market gold price and dollar exchange rate to calculate the currency price offered for the coins on the day of selling.
Ananzi
This is a platform that will help you when you seek to sell your coins. Besides that, it also offers placement consulting services if you want to sell the coins quickly. This is great for sellers who want a quick advertisement and sell deal. The website’s interface is straightforward; thus, anyone can use it. You have to visit the site and navigate through the page to get to the ads. Once here, fill out an available form and then wait for an agent to reach out to you for further instructions on how to proceed.
Bidorbuy
If you are a South African or follow South African news, you probably know that Bidorbuy is one of the country’s contemporary marketplaces. It is open for the easiest ways to sell your products in Pretoria. This platform offers an excellent and secure choice for people selling items. You can count on them to sell practically anything legal. To use their service, you need to visit the website and signup if you do this for the first time. Then, go to the sell an item section on the menu, undersell, and register. You can then upload the listing of the items you want to sell, in this case, your Mandela coins. Once done, wait to respond to the potential customers that make inquiries under your item.
Interestingly, you are not restricted on the number of items you can post or sell per time. However, remember that you will have to pay 1 to 5 percent of the item’s price for each product sold. If these terms and conditions are favorable to you, you can try selling your Mandela coins on the platform. It is easier and faster since most people will certainly be visiting the site, so you should consider taking advantage of this. Additionally, you never have to worry about dealing with unscrupulous buyers since the cash is paid directly to the platform, thus avoiding the headache of following up on payments.
Junk Mail
Pay little attention to the name and understand that this is one of the big players as far advertisements in South Africa go. It is one of the classified advertising avenues you could explore. Consider posting a free ad on Junk Mail and telling people that you are selling old Mandela coins. All you have to do is follow the advertising procedure and get your free ad.
Visit the homepage of the site and click the free ad to start. It would be best to choose a relevant area or category that matches your needs. If none exists, then go to the ‘Other Things’ section. Next, you need to develop a product description and select a location (it has to be a specific place or region). Proceed to upload the product photo, i.e., the Mandela coins you are putting on sale, and then wait for potential buyers who will contact you once they see the ad you placed. This is a cheaper yet effective way of attracting the right customers.
Gum Tree
Kwazulu-Natal and Durban’s residents have a platform that makes it easy to sell their Mandela coins. The Gum Tree is an excellent option with free and p[aid options. Placing an ad on the site is free but if you want o increase the reach of your audience, then consider paying a small fee for listings.
Start by signing up on the site to create your free user account. Once done, click on Post an Ad and select a category that will work for your coins. You can then upload relevant images and attach the selling price or monetary value of each coin. Complete by filling in your contact details and then waiting for interested customers to contact you. Paying for product listings is encouraged since it exposes the product to more people, thus increasing your chances of earning.
SA Coin
As the name suggests, this platform dedicatedly deals with coins, more so the Mandela coin. It is an established site known to be the largest Mandela 90th coin dealer. So if you want to sell your Mandela R5 coin, this would be the best place to do so. Most people buy Mandela coins but will be concerned about the coil’s price and authenticity, especially the rare ones. The SA platform is trusted to offer such verification services, so selling your coin via the platform will get you clients that can purchase because they trust the site to do due diligence on their behalf. As a result, buyers and sellers are sure of getting the right value for the coins. The price for different collectable coins will usually vary among authorised coin dealers, particularly depending on graded and un-graded coins.