Where to Sell Mandela Coins & Do Banks Buy Them?
By MoneyToday Team • Nov 13, 2024 • 6 min read
If you have a Mandela R5 coin, you have likely seen ads claiming it is worth R50,000 or even R150,000. Naturally, the first place people go to sell these coins is their local bank branch.
In this guide, we bust the biggest myth in the South African coin market, provide a realistic price list for 2025, and tell you exactly where you can (and cannot) sell them.
Do Banks Buy Mandela Coins?
Standard Bank, Absa, FNB, Nedbank, and Capitec DO NOT buy Mandela coins or any other commemorative R5 coins from the public.
Banks deal in face value currency. If you deposit a Mandela R5 coin at a bank, they will credit your account with exactly R5.00. They do not trade in "numismatic" (collector) value.
Exception: The only coins banks sometimes trade are Krugerrands (Gold Bullion), and even then, usually only specific branches with specific divisions.
Mandela Coin Price List (2025 Estimates)
The value of your coin depends entirely on its Grade. An "Uncirculated" coin (never touched by bare hands, kept in a capsule) is worth far more than a "Circulated" coin (found in your wallet).
| Coin Edition | Circulated Value | Uncirculated (MS65+) |
|---|---|---|
2008 "90th Birthday" R5 The most common one | R5 - R10 | R50 - R200 |
2000 "Inauguration" R5 Rare, older edition | R50 - R100 | R1,000 - R3,000 |
2018 "Centenary" R5 Very common | R5 (Face Value) | R20 - R50 |
1994 "Inauguration" R5 Old single-metal coin | R5 - R20 | R200 - R500 |
*Values are estimates based on auction averages. "Graded" means certified by NGC or PCGS.
Where can I actually sell them?
1. Coin Dealers (SAAND)
Members of the South African Association of Numismatic Dealers are legitimate businesses. They buy coins, but usually only graded, uncirculated ones. They rarely buy circulated R5 coins because there is too much supply.
2. Online Marketplaces
Platforms like Bob Shop (formerly Bidorbuy) are the most realistic place to sell. You can list your coin for auction.
Step-by-Step Guide to Selling
- 1 Determine Condition
Is it shiny with zero scratches (Uncirculated)? Or dull and scratched (Circulated)? If it's circulated, spending money to grade it is a waste.
- 2 Check the Market
Go to Bob Shop. Search for your specific coin year. Filter by "Winning Bid" or "Auctions ending soon" to see what people are actually paying.
- 3 List it properly
Take clear photos in good light. Be honest about scratches. Set a realistic starting bid (e.g., R20, not R20,000).
Why do I see coins for R50,000?
Anyone can create an ad on Gumtree or Facebook and type any price they want. Just because someone asks for R50,000 doesn't mean anyone is buying it.
These listings often trap desperate sellers. Scammers contact you saying "I have a buyer for R50,000, but you need to pay a R500 admin fee first." This is a scam. Never pay money to sell your coin.
Grow your wealth elsewhere?
Don't rely on finding a lucky coin. Real wealth is built through consistent saving and compound interest.