SA COIN has sold over R125 million rands worth of rare coins over the past 5 years. It is
therefore very humorous to suggest that we would have any difficulty in selling any
Mandela coins. There are over 300 000 certified Mandela R5 coins graded by PCGS
(Professional Coin Grading System), NGC (Numismatic Guarantee Corporation) and
ANACS (American Numismatic Association Certification System). They constitute over
96.4% of the total South African rare coin market with the remainder of South African
certified rare coins being a mere 3.6%. The 300 000 certified Mandela R5 coins are worth
over R500 million rand and these coins are sold throughout the globe from Tel Aviv to
Taipei. There are over 1 000 dealers that specialize in the sale of the Mandela R5 coins in
South Africa alone.
There is never ever any time at which that you cannot sell any coin a Mandela rare coin or
other. The only factor that leads to a client not selling the coin that they may have is the
price that they are offered is too low. We suggest to all of the investors that buy coins
through us that they hold onto them for 3 – 5 years. If you sell a coin too soon then you
are not going to be offered a good price for the resale of that coin. In addition to the time
frame that you try to resell a coin the prevailing economic climate is also obviously a
significant factor to consider.
At this time the South African economy is going through a very tough time. What that
means is that there is less overall cash in the economy for the purchase of anything let
alone selling coins. If you were to place a property up for sale at this time you would be
hard challenged to get a good price for it. This is because South Africa is in a recessionary
economy. It is the time for intelligent investors to snap up undervalued coins that will
show stratospheric growth when the economy is strong again.
Clients that buy coins through S A COIN are advised to hold their coins for 3 – 5 years.
They are also informed that when we sell their coins they are placed up for sale on
mandate the very same way that real estate agents sell property. The coins are listed for
sale within S A COIN and it then proceeds to try to sell the coins for the best possible price
for the client. There is a 10% commission charged for the sale of a coin. If a client asks for
a cash price for a coin then they are offered a cash price. There is no lack of liquidity in the
selling of any coins the only deterrent is the price that you may be offered.
Glenn Schoeman’s comments about the rare R5 Mandela coins are also gravely suspect at
best. He is the proprietor of a South African grading system called SANGS. The coins that
he grades violate the central principal of all recognised grading services like PCGS
(Professional Coin Grading Services), NGC (Numismatic Guarantee Corporation) and
ANACS (American Numismatic Association Certification System). The central principal of
all recognised grading services is that you do not sell any coins. When you grade the coins
that you are also selling this is a conflict of interest and not accepted overseas. It is viewed
as being very unethical. To be an impartial grader of coins you cannot sell coins and grade
coins. What this means is that when you are selling the coins that you are grading that you
would be inclined to assign higher grades to the coins that you buy and grade, than those
that you would assign to other members of the public submitted in good faith to you for
grading.
