Nelson Mandela graded proof coins???

Nizwe Sxasana said:
Read these articles before you buy anything from SA Coin:

http://www.moneyweb.co.za/moneyweb-...rare-r5-coin-the-best-investment-you-can-make

http://www.moneyweb.co.za/moneyweb-investment-insights/investors-misled-on-rare-r5-coins
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I saw those. I think it's what tipped me off to them being dodgy and set me off checking them out. Not sure if it's there or somewhere else but I saw they were ordered by the court, think it was Magaliesburg magistrate) to pay a client R150,000 to cover bad coins and inconvenience.
Seems someone should shut them down.
 
mercurial said:
Woah. Thanks for the heads up regarding SA Coin.
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Now I remember http://mybroadband.co.za/vb/archive/index.php/t-311367.html?
Check the post by Rubberpigg It was R130K not R150K (my memory is terrible)

mercurial said:
What about http://www.sagoldcoin.co.za, http://www.krugerrandsa.co.za, http://www.samint.co.za and http://www.scoinshop.com
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Honestly, it's tough to know who to trust when you're dealing with these things. Although I haven't seen anything bad about any of them. I'd be unlikely to risk it though. I think SA Mint would be cool since they're the actual mint.
 
Reaper1242 said:
My mother is considering buying a proof coin as a long term investment. From what I'm seeing they look like they have the potential for great returns over time.
Of course I want to do all the homework and make sure.

What is the consensus on them. Good or bad?
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Coins, investment? Lol
 
Now this is a topic I would find interesting to see what comes from it...

I bought a medallion the other day:
http://www.sagoldcoin.co.za/mandela-coins-medallions/mandela-red-ribbon-twin-set

This is an investment for my child when he/she (wife is 11 weeks pregnant) hit 18.

One thing you guys must remember and should take in consideration. Krugerrands are directly connected to the gold price and you also have to declare the income you gain from it.
With collectables like the medallions, you do not pay any income tax on the money you make off them.

In 2003 I wanted to buy a certain gold coin at R3400 each. I decided against it and at this moment they are worth R54000 :/

Anyway, I have spend R24000 on the set I bought and can only hope that in 18 years it will be worth a lot more...
 
Reaper1242 said:
I'm a little fuzzy as to why that's funny???
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Its not investment because they are coins, they are only worth their metal content. If you want to invest in gold buy gold and don't pay the premium for a coin just because it has a face on it
 
dizz16 said:
Now this is a topic I would find interesting to see what comes from it...

I bought a medallion the other day:
http://www.sagoldcoin.co.za/mandela-coins-medallions/mandela-red-ribbon-twin-set

This is an investment for my child when he/she (wife is 11 weeks pregnant) hit 18.

One thing you guys must remember and should take in consideration. Krugerrands are directly connected to the gold price and you also have to declare the income you gain from it.
With collectables like the medallions, you do not pay any income tax on the money you make off them.

In 2003 I wanted to buy a certain gold coin at R3400 each. I decided against it and at this moment they are worth R54000 :/

Anyway, I have spend R24000 on the set I bought and can only hope that in 18 years it will be worth a lot more...
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I really do think that if you're smart and pick the right coin then it's very possible to see a good return on it. That's very true about tax on Krugers. I just wonder what the threshold is?

Tim182 said:
Its not investment because they are coins, they are only worth their metal content. If you want to invest in gold buy gold and don't pay the premium for a coin just because it has a face on it
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I'm sorry but I have to disagree there. Not all coins are only worth their metal content and they have very little to do with the face. Coins like the Mandella coins do have investment value. I've got a friend who's father bought him a set of coins when he was young. I forget which one's they are but they're worth a fortune now.
And a Kruger 10th was at around 800 in 2008. It's now at 1600/1700. That's a good investment in anyone's book. I will concede that they are linked to the gold price and so are more volatile then certain other investments.

But we're all entitled to our opinions. You have yours, I have mine. Hell, we could both be wrong.
 
Reaper1242 said:
snip
I will concede that they are linked to the gold price and so are more volatile then certain other investments.
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Yeah they are definitely connected to gold price...but saying that, last year people said that gold price is too high and it is not possible to go higher...and look where it is now.
Also with this gold mine strikes the ripple effect I guess is still to come on the price of gold. So my mind is quite at ease that I will make a good return on mine.
 
dizz16 said:
Yeah they are definitely connected to gold price...but saying that, last year people said that gold price is too high and it is not possible to go higher...and look where it is now.
Also with this gold mine strikes the ripple effect I guess is still to come on the price of gold. So my mind is quite at ease that I will make a good return on mine.
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That's my thinking. I'm no expert, but I doubt gold will become a bad investment anytime soon. Yea, I think you're pretty safe there.
 
Expect the actual selling of the Krugers to wipe 10% off the value...turning it into cash is expensive. :(
 
Reaper1242 said:
True, although is that still applicable if you sell coins held by FNB?
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Fnb charge you a percentage when you sell back the coin. I think its 2% of the value of the coin. eg current market price is R16038 for 1oz. according to fnb website and they will buy back from you at 15709. so they take R329
 
Reaper1242 said:
True, although is that still applicable if you sell coins held by FNB?
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Well then you need their annual fees...so its gonna cost either way.


idk - I don't trust this entire coin business. Heard too many scary stories & don't know enough of it to avoid being conned.
 
Suspect99 said:
Fnb charge you a percentage when you sell back the coin. I think its 2% of the value of the coin. eg current market price is R16038 for 1oz. according to fnb website and they will buy back from you at 15709. so they take R329
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I think it's much less of a dent with 10ths. My father had a whole lot at one stage, and if he ever needed some quick liquid cash and the gold price was good he could sell one. 2% isn't all that bad really. I will say that my father worked 46 years for Barclays and then FNB and when he retired he spent all his free time on this stuff. He knew how to play with investments to make them work.
I picked up some stuff, but now I wish I'd learnt more from him.

HavocXphere said:
Well then you need their annual fees...so its gonna cost either way.


idk - I don't trust this entire coin business. Heard too many scary stories & don't know enough of it to avoid being conned.
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I think it comes down to learning as much as you can first and then making an informed decision. But yes, I do agree that there's some very dodgy things surrounding some coins. It's hard to know what's safe and not.
 
Reaper1242 said:
I think it comes down to learning as much as you can first and then making an informed decision. But yes, I do agree that there's some very dodgy things surrounding some coins. It's hard to know what's safe and not.
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I can see that being worthwhile for people.

For me personally it just doesn't make sense though: I'd rather go for some risky financial instrument...closer to home turf for me & I can judge risks a bit better.
 
HavocXphere said:
I can see that being worthwhile for people.

For me personally it just doesn't make sense though: I'd rather go for some risky financial instrument...closer to home turf for me & I can judge risks a bit better.
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I'm learning that investment is very unique to each person. I guess there's no real right or wrong. It's whatever works for each of us. Personally I'm not big on risky things at all. Perhaps because I have seriously horrible luck.
 
Reaper1242 said:
I think it's much less of a dent with 10ths. My father had a whole lot at one stage, and if he ever needed some quick liquid cash and the gold price was good he could sell one. 2% isn't all that bad really. .
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Yep the dent is less from the tenths cos the value of the coin is less, but it's still 2%. But its still better than selling youself. IMO I'm happy to pay R17 a month a 0,86% p.a holding fee. rather than risk keeping the coins myself and trying to sell them myself.

I bought a coin in june. market value +-R13700. Now market price is +-16000. If I sell now, FNB take R329 but I still make a profit of about 2k.

Dunno about tax though
 
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