Do you still have Mandela coin? Do you want to sell it? Read this article to understand the background of the Mandela coins.
In 2007 a rare Mandela proof R5 coin, minted in 2000, sold for R200 000 ($26 300). According to rare coin dealer SA Coin, this is one of only three coins in existence in such a perfect proof condition, and the value of these coins has increased by 4.4-million percent over the last seven years. SA Coin attributes this to the fact that Mandela is such a well-loved figure all over the world.
The original R5 coin, which was part of a new South African coin series proposed in 1989, featured a black wildebeest, or white-tailed gnu, on the reverse. The black wildebeest is indigenous to Southern Africa and is one of two gnu species found here, the other being the blue wildebeest.
However, the first R5 coins were only minted in 1994, the year of the first democratic elections held in South Africa. Two R5 coins were released in that year, one to commemorate the inauguration of Nelson Mandela as president and one featuring the black wildebeest. The original R5 coins were made of nickel-plated copper.
The R5 coin in circulation today is South Africa’s first bi-metal coin and was introduced in 2004 after extensive counterfeiting of the previous version. The new coin, which also features the coat of arms and the black wildebeest, has a number of built-in security features, among them a security groove on the rim of the coin, serrations on both sides of the security groove, the term “SARB 5” written 10 times around the security groove and “SARB” written 57 times in micro lettering on the reverse of the coin.
Since 1996 the words “South Africa” have been written on the obverse in all 11 official languages on an annual rotating basis.
The old R5 coin is still legal tender but is being phased out over time.