Where to Sell Mandela Coins (and Why Banks Won't Buy Them)
Five SAAND-accredited dealers who actually buy Mandela R5 coins, plus the truth about the "bank buyback" myth that's been circulating on WhatsApp since 2014.
The bank buyback myth
No bank in South Africa — neither SARB nor a commercial bank — buys Mandela R5 coins above face value. The viral WhatsApp claims are false. Deposit it for R5 if you must, or sell to a coin dealer for a fair market premium.
Does Capitec, Absa, FNB, Standard Bank or Nedbank buy Mandela coins?
This is the most-asked question about Mandela coins — usually after a WhatsApp message claims a specific bank is paying thousands. None of it is true. Here is each major South African bank's position on buying commemorative coins:
| Bank / institution | Buys Mandela coins? |
|---|---|
| Capitec | No |
| Absa | No |
| FNB | No |
| Standard Bank | No |
| Nedbank | No |
| SARB (South African Reserve Bank) | No |
| SA Mint | No |
Bank positions verified May 2026. If a WhatsApp message claims otherwise, treat it as a scam and report it.
Mandela coin buyers — contact details
South Africa has a small number of SAAND-accredited dealers who buy authenticated Mandela commemoratives — generally only sealed proof, gold or silver versions, since circulated R5 coins trade at face value. Contact a dealer before you visit; most work by appointment and will quote on a photo or video first.
City Coins (Cape Town)
Cape Town's most established dealer — over 60 years trading. SAAND member. Strong for Veldponds, Kruger Ponds, graded Mandela proofs and rarities. By appointment only.
- Phone
- 021 425 2639 / 021 425 3939
- citycoins@citycoins.co.za
- Website
- citycoins.com
- Address
- Tulbagh Square, Foreshore, Cape Town 8001
Randburg Coin (Johannesburg)
Trading since 1980 (incorporated Bickels Coins, est. 1964). SAAND member. Buys graded gold, silver and platinum coins, medals and banknotes. Note: does not buy circulated Mandela R5 coins. Goods available by appointment only.
- Phone
- 011 789 2260 / 011 789 2233 / 011 787 0814
- Via website contact form
- Website
- randcoin.co.za
- Address
- Unit 10 Netwater Place, 252 Oak Avenue, Ferndale, Randburg
The Scoin Shop (national)
Retail division of the SA Gold Coin Exchange. SA Mint authorised dealer, 14+ branches countrywide plus Namibia (Sandton City, Somerset Mall, V&A Waterfront, etc.). Strong for Krugerrands, Natura series and Mandela medallions in mint sealed cases.
- Phone
- Branch numbers on scoinshop.com/pages/contact-us
- Via website
- Website
- scoinshop.com
- Address
- Head office: Benoni, Gauteng
Cape Town Numismatist
International dealer in coins and currency, online and by appointment. Useful second-opinion quote for higher-grade pieces.
- Phone
- Via contact form
- Via contact form
- Website
- capetownnumismatist.com
- Address
- Cape Town (by appointment)
SAAND (industry body — not a buyer)
South African Association of Numismatic Dealers. Use saand.co.za/members to find an accredited dealer in your city before you transact. SAAND membership is the single best filter against scams.
- Phone
- Via website
- Via website
- Website
- saand.co.za/members
- Address
- National
Contact details verified May 2026 against dealer websites and SAAND listings. Always confirm by phone before travelling — most dealers operate by appointment and goods are not kept on the premises. Verify SAAND (South African Association of Numismatic Dealers) accreditation at saand.co.za/members before transacting.
What Mandela R5s actually fetch in 2026
| Coin | Condition | Dealer buy |
|---|---|---|
| 1994 Inauguration R5 | Circulated | R5 – R20 |
| 1994 Inauguration R5 | Sealed proof, mint case | R150 – R400 |
| 2000 — Smiley Mandela R5 | Circulated | R5 – R25 |
| 2000 — Smiley Mandela R5 | Proof, mint case | R180 – R500 |
| 2008 — 90th Birthday R5 | Circulated | R5 – R30 |
| 2008 — 90th Birthday R5 | Proof in mint case | R250 – R600 |
| 2013 — Life and Times R5 | Circulated | R5 – R20 |
| 2013 — Life and Times R5 | Proof, mint case | R200 – R500 |
| 2018 — Centenary R5 | Circulated | R5 – R15 |
| 2018 — Centenary R5 | Sealed proof set | R200 – R450 |
| 2018 — Mandela Silver R2 | Proof, silver, mint case | R650 – R1,400 |
| 2018 — Mandela Krugerrand R50 silver | 1oz fine silver, mint case | R900 – R1,800 |
| 1994 Inauguration full mint set | Sealed, original packaging | R600 – R1,500 |
Prices are indicative dealer-buy ranges in South African Rand for May 2026. Final offers depend on grade, packaging and current bullion prices. NGC/PCGS-slabbed coins typically fetch 20–60% more than the upper end of these ranges.
Want this as a price list PDF?
The table above is the full price list — bookmark this page (it's updated whenever dealer ranges shift). If you need a printed copy, use your browser's Print → Save as PDF on this page; the table prints cleanly in portrait at A4.
A downloadable PDF version is on our content roadmap. In the meantime, the on-page table is always the most current.
How to get the best price
- Don't clean it. Ever.
- Keep the original mint packaging — proof sets out of their case lose 60–80% of value.
- Get quotes from at least 2 SAAND dealers.
- For anything over R5,000, pay R200–R500 for NGC/PCGS grading first.
- Avoid pawnshops — they pay face value at best.