Mandela coins not selling: report

James

James

MyGaming Alumnus
attachment.php


People who bought Mandela R5 coins as an investment are struggling to resell them, reports said on Tuesday.

Several clients who purchased R5 Mandela coins from SA Coin have been experiencing difficulties reselling them, Moneyweb reported this week,

The Citizen's Business section named several sellers who could not find buyers, including Dave Ridley, who bought several coins for between R28,000 and R65,000 between 2008 and 2010.

He...read more here: Mandela coins not selling: report
 
James said:

Dave Ridley, who bought several coins for between R28,000 and R65,000 between 2008 and 2010.[/QUOTE]

BWHAHAHAHAHAAH :D so lemme get this straight. you paid R65k.....for a R5 coin?

Hey Dave, I got a R2 coin that i'm willing to let you have for a snip at R10k.
Click to expand...
 
Hiro said:
BWHAHAHAHAHAAH :D so lemme get this straight. you paid R65k.....for a R5 coin?

Hey Dave, I got a R2 coin that i'm willing to let you have for a snip at R10k.
Click to expand...

Not those Mandela coins, man. I'm pretty sure they are talking about the limited edition 90th birthday coins.

They look like this:

south_africa_5_rand_2008.jpg


You won't find these being handed to you as change from the corner cafe.

Edit:

Here's both the common ones and limited edition one:

2412212_140101114909_008.JPG
 
Last edited:
Hiro said:
BWHAHAHAHAHAAH :D so lemme get this straight. you paid R65k.....for a R5 coin?

Hey Dave, I got a R2 coin that i'm willing to let you have for a snip at R10k.
Click to expand...

They are talking about proofs, not circulated coins, big difference.

http://lynncoins.com/proofcoin_article.htm

The problem here though is that they are only worth their weight in sentiment and the market conditions and I think the market is flooded with sellers looking to make a quick profit. Essentially the price has been driven down and nobody wants to buy them.
 
Tom said:
True... These coins are the kind of long term investment that will eventually pay off...
Click to expand...

but they are more subject to very specific market whims, as opposed to a more widely traded commodity, like a Gold coin. so its still speculation as to whether they will pay off in time. Will NM sentiment really grow over time? Perhaps...but i have my doubts :/
 
Several clients who purchased R5 Mandela coins from SA Coin have been experiencing difficulties reselling them, Moneyweb reported this week,...
Click to expand...

And that is going to put any would be buyer off buying something they'll struggle to find a buyer for.
 
You must log in or register to reply here.
Back
Top