What the wealth of South African coins can offer you

by , 06 August 2013

We're all familiar with the Krugerrand. But that isn't the only coin you can buy in South Africa. With SA's rich history comes a wealth of coins and notes. Read on to find out more…

In South Africa, there is a very active secondary market for coin collectors. This is due to South Africa being one of the largest producers of gold, cobalt, copper and platinum in the world.

For instance, the Krugerrand. It’s the most popular and well known South African gold coin.

It is in demand worldwide and its liquidity is excellent for a collectible, explains the research team at The South African Investor.

If you’re interested in finding out more, or investing in some local coins, you won’t have to look too far. Most local dealers offer free appraisals and keep a good stock of various local and international coins.

There are many registered dealers all over South Africa. Just visit SA Mint’s site for a list.

You can follow SA’s rich history through the coins over the decades

Before 1 May 1961, SA used the same currency as Britain.

After independence, the SA government issued a currency based on the gold standard, called rands. These notes came in denominations of R1, R2, R5, R10, R20, and later on R50.

All bore the face of Jan Van Riebeck, the Dutch settler who claimed discovery of SA in 1652.

Once Apartheid was over and the ANC were in power, the government issued a new set of notes depicting our rich heritage of natural resources in wildlife prints.

All these notes are still available in SA through the various coin dealers and collectors. They represent a history rich in culture and change.

Some coins, such as the Nelson Mandela commemorative, won’t follow the gold price religiously. This is because this coin has a collectible value too.

But most modern gold coin values base themselves on the fluctuating daily price of gold.

So these coins will increase in value as the gold price rises and decrease in value should the gold price fall.

If you’re interested in finding out more about local coins, a good option is to get a copy of The South African Coin and Banknote Catalogue. A copy will set you back about R195, plus postage.

There you have it, the wealth of coins and notes available in South Africa.

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