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Thread: R5 Inauguration coin

  1. #1

    Default R5 Inauguration coin

    Hi,

    Anyone know anything about this coin? What is uncirculated and proof? Lastly, does anyone know roughly what this is worth? Thanks

    http://img257.imageshack.us/my.php?image=frontmb9.jpg

  2. #2
    Super Grandmaster noswal's Avatar
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    Default

    I'll give you R6 for it
    Shut up Slave! ... cheap cheddar and macaroni, melted together...

  3. #3

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    hehe ... I know the presidential R5 circulated is worth only R5, but check this out ... R1,255.00!

    http://www.bidorbuy.co.za/jsp/item/I...radeId=3231315

  4. #4

    Default

    Please post the image somewhere else (perhaps on the photos section of this forum) as I get gateway timeout when trying to view it.

    Your question is three fold, so I will answer it here:

    1. Uncirculated
    Uncirculated coins are coins that have been minted in an issue but were not circulated to the general population. Instead they were 'sold' to collectors or other people who buy coins.

    2. Proof Coins
    Proof coins are the very first minted coins, and are never circulated. A very select few of these coins are minted (the numbers are available from the mintage (in South Africa it's the South African Mint) who minted the coins. The limited mintage means the coin's value goes up as it becomes collectors' items. Some coins are only minted as Proof coins, and there are no subsequent re-issues.

    3. The value of a R5 inauguration coin
    The value of a R5 inauguration Proof uncirculated coin is only worth what a collector is willing to pay for it. There's no set value on these coins, as it's purely market dynamics controlled by supply/demand. Circulated inauguration R5 coins are worth their denomination as long as they remain in circulation. They may become worth something more in the future due to their limited edition status. Damaged coins are worth less in collectors' terms than non damaged coins, so if you happen upon one that is in excellent nick, hang on to it. As a tip, do not clean the coins using abrasive cleaning products. Rather never clean a coin (use warm water and a soft chamois leather cloth if you absolutely must).

  5. #5

    Default

    Sorry - forgot about the photos in our section

    http://mybroadband.co.za/photos/show...hoto=973&cat=2

    Thanks for the information!

  6. #6

    Default

    Yeah, you'll notice in the Auction that they state "In capsule as issued by the SA Mint." - all proof coins you buy from the SA Mint are encased in a special capsule to protect the coin these days. That's quite a good price fetched by that coin, especially considering it's not a gold or silver piece. So in this case it's scarceness determined it's value. In gold, silver and platinum coins you'd find that a coin very rarely dips below it's smelt value (in terms of bullion makeup). Just out of interest sake, most new coins are minted in Gold and Silver (and sometimes in Platinum) versions as well specially for the collectors. There are also some special Silver, Gold and Platinum coins that are only minted in collection series (popular series' at present are the 'Natura' and 'Protea' series)

  7. #7

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    Funily enough, if you have a R5 that has Mandela's face on the back, even if it's not uncirculated or proof (IE a regular in circulation coin, as undamaged as possible though!) then you can usually sell it for around 50 bucks on BidOrBuy.

    I sold 5 of them a while back for an average of R45 per coin. They were circulation, with very little damage. The buyer wasn't dissapointed either

  8. #8

    Default

    Quote Originally Posted by Dolby View Post
    Sorry - forgot about the photos in our section

    http://mybroadband.co.za/photos/show...hoto=973&cat=2

    Thanks for the information!
    My afrikaans is a bit sketchy, but that seems like a proof coin in that picture (IE it's worth quite a bit more than R5 ) Apparently proof coins also have a "grading". Don't know much about it, but I think it's done in the USA (the grading) and better gradings get higher prices.

    EDIT: Check out these auctions on BidOrBuy:
    http://www.bidorbuy.co.za/jsp/item/I...radeId=4236777
    http://www.bidorbuy.co.za/jsp/item/I...radeId=4301832
    http://www.bidorbuy.co.za/jsp/item/I...radeId=4361965
    http://www.bidorbuy.co.za/jsp/item/I...radeId=4193443
    http://www.bidorbuy.co.za/jsp/item/I...radeId=4229131

    The second one is just normal circulation coin, in "mint condition" The rest are all proof coins, with different ratings. EG The last link has a coin with a grading of "PF 69 Ultra Cameo". These auctions have been visited 315, 93, 24, 28 and 107 times resectively when I checked, so it's not like no-one's interested
    Last edited by TheLoot; 21-07-2007 at 12:10 PM.

  9. #9

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    Perhaps I should place mine on and see what happens

  10. #10

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    Hmmm, actually got one of those R5 presidential inauguration coins right next to me here. Not sure what to do with it. I've actually got quite a collection of them (just not here). Sucks that they only worth R5 but I will hang onto them a bit longer then I guess. Actually got a rather large coin collection of various countried and old SA coins etc but doubt it's of much value.

  11. #11

    Default

    Quote Originally Posted by rorz0r View Post
    Hmmm, actually got one of those R5 presidential inauguration coins right next to me here. Not sure what to do with it. I've actually got quite a collection of them (just not here). Sucks that they only worth R5 but I will hang onto them a bit longer then I guess. Actually got a rather large coin collection of various countried and old SA coins etc but doubt it's of much value.
    as they exit circulation they will become worth more. As it is they're steadily being collected out of circulation as it is. Keep them if you happen across them - they will become worth something in a few years time.

  12. #12

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    Yeah I was really surprised because I was handed this latest one as change at a club about a month ago.

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