2008 Mandela Coin: Is it legal to sell them?

The biggest mystery about the 2008 Mandela coin, also known as the 90th birthday coin, is not why anyone would want to pay more than R5 for a coin that is worth exactly R5. The mystery is how is it possible that no one in the South African Reserve Bank saw it coming? After all, there have been precedents: the 1994 Mandela Presidential Inauguration R5 coin, as well as the 2000 Mandela R5 coin.
Against such background, it was to be expected that the new 90th birthday Mandela coin will end up on bidorbuy and other trading places. And yet, the veritable trading frenzy that was unleashed on 18 July 2008, the date the coin was released, seems to have taken the authorities by surprise.

Truth to be told, the frantic trading surprised the bidorbuy people too. "As far as I am concerned, the 2008 Mandela coin is worth R5," says the site's Managing Director Andy Higgins. "It is not an investment coin. On the other hand, bidorbuy firmly believes in the freedom of trading in all legal items, and if people are willing to pay more than R5 for the coin, I don't see why they should not be allowed to do so."

Even though the Mandela R5 coin is certainly legal, a phone call from the South African Reserve Bank made bidorbuy change its stand a little. At one point, staff were instructed to close all 2008 Mandela coin listings. Then a compromise between the somewhat vague concerns expressed by the South African Reserve Bank and the website's own policy was reached: bidorbuy sellers were informed that that may list smaller quantities of the coin at a time, at their own risk. However, listing an unopened bag containing 400 or 500 coins would definitely not be tolerated.

The "at their own risk" part of the message stems from the Reserve Bank's caution that people who trade in 2008 Mandela coins may come under the stern scrutiny of the law, especially if they trade in large quantities

The bidorbuy coins and notes community is abuzz with speculations. The traders are doubtlessly rubbing their hand. As one forum member pointed out, "Controversy breeds collectability, and all this will just make the coins more sought after."

As for the site, it will stick to its policy of allowing listings of a reasonable quantity of the 2008 Mandela R5 coins on its pages, at least until further, more definite instructions from the authorities are received. bidorbuy will also, at its own discretion, cooperate with authorities in case of an investigation into how this or that seller came into possession of the coins.

In the meantime, the message from bidorbuy and their expert coin dealers is: the 2008 Mandela coins are not investment coins. More than two million of them was released into circulation, and a circulation coin is considered somewhat rare only when there are fewer than a thousand of them.

True, some exceptionally well-done samples of a circulation coin, graded and number-proofed by a reputable firm, may be valuable. However, that is an involved issue, best left to the experts. The chances of such a 2008 Mandela coin landing into the hands of a man in the street is about equal to the chances of winning the grand lottery prize.
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Comment
Anonymous
Mandela 90th Birthday R5 coin-
I would like to sell the Mandela 90th Birthday R5 coin, please call me @ 0732061960 and let me know how much you'll be willing to pay.
Posted on 19 Feb 2011 20:24
victor magudu
i do also have the 90th mandela coin made in 2008.anyone who wants to buy contact me on my email victor.magudu@comair.co.za.hurry while its available
Posted on 20 Jun 2013 12:36
mike Murova
iam selling the 1994 inauguration coin,2000 and 2008 birthday coins,any one interested call me on 00971563324836
Posted on 25 Jul 2013 13:43
Mzwamandla Sosibo
If you really value the coins, buy them. I have a few, I am willing to sell but not all of them as they have a sentimental value too. I have the 1994 inauguration, the 2000 smiley, the 2008 90th birthday and the 2011 SARB 90th birthday. Make me an offer on 0822560304
Posted on 29 Jul 2013 02:00
Isaac Phetla
Hi Im selling R5 coin 1994 PRESIDENTIAL INAUGURATION
Posted on 27 Feb 2015 09:51
Isaac Phetla
Hi Im selling R5 coin 1994 PRESIDENTIAL INAUGURATION
Posted on 27 Feb 2015 10:00
Sanele Thusi
I have 2008 birthday coin and im willing to sale it 0746776518
Posted on 19 Mar 2015 16:14
Mbali petunia
Hi I'm selling the coins of Mr Mandela. What I want to know how will I get for each coin bcz I'm having more than 10
Posted on 11 Sep 2015 08:58
Mbali petunia
Hi I'm selling both 2008/1994 coins for Mr Mandela. Hw mch will I get for each coin.
Posted on 11 Sep 2015 09:01
Mbali petunia
Hi I'm selling the coins of Mr Mandela. What I want to know how will I get for each coin bcz I'm having more than 10
Posted on 11 Sep 2015 09:02
Stephane Dlamini
hie i have more than 30 coins anyone intrested contact me @ 0632400269 have a better price
Posted on 20 Oct 2015 10:14
Stephane Dlamini
im selling coins anyone intrested i have more than 30 of them contact me @ 0632400269
Posted on 20 Oct 2015 10:16
Stephane Dlamini
im selling coins anyone intrested i have more than 30 of them contact me @ 0632400269
Posted on 20 Oct 2015 10:16
Merle Beck
Very well written article with valid points! I like your writing style very well. Thanks for sharing!
Posted on 21 Oct 2015 11:12
Sakhi Ndovela
Hi im selling 2008 Birthday Mandela coins, plz call 0788622428
Posted on 27 Oct 2016 15:51
Sakhi Ndovela
Hi im selling 2008 Birthday Mandela coins, plz call 0788622428
Posted on 27 Oct 2016 15:53
Kopano Legwabe
Hi i have the 2008 R5 coin am selling it0621564428
Posted on 2 Dec 2016 02:30
Lesetja Sepheso
I have a 2015 griqua R5 coin and would like to sell it at a negotiable price, if you are interested contact me at thomassepheso0@gmail.com
Posted on 22 Jan 2017 16:08
Lucia Selepe
Am have 2008/1994 and am willing to sell them any one interested contact me at 0738721647
Posted on 13 Feb 2017 13:08
Dillon Davids
So it's almost been 10 years now and I'm sitting with a 2008 Mandela coin. I would like to sell it. If anyone is interested, feel free to contact me on 083 2966 853
Posted on 7 Jun 2017 21:05
Fana James
Hi im having 2008 Mandela coin if you want to buy cnt 0817638308
Posted on 22 Jun 2017 22:26
Fanajamesbond007
Hi im having 2008 Mandela coin if you want to buy cnt 0817638308
Posted on 22 Jun 2017 22:30
Fanajamesbond007
Hi im having 2008 Mandela coin if you want to buy cnt 0817638308
Posted on 22 Jun 2017 22:32
Lizzy omor
Me too I have some of them anyone can buy please contact me.0606839000
Posted on 23 Nov 2018 11:15
Anonymous
Did anyone eventually buy it?
Posted on 21 Aug 2019 10:20

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