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  • Mandela Coins?????

    I am dumbstruck that people pay these ridiculous amounts of money for a coin that in my humble opinion will never reach any real collector status or am I missing the point totally

    Look at the link and the question posed by a fellow forum member and the reply that 2000 :o of these coins was send for grading, the 5mil that was minted, what % will end in slabs,can any of the boffins that track these things maybe come up with a number that is already been graded?


    2008 Birthday R5 - MS 61 NESLON MADELA R5 BIRTHDAY COIN for sale in Hartbeespoort (ID:25136752)
    STEVE
    “Numismatists are the guardians of history for future generations”

  • #2
    I don't have the figures for SACGS or PCGS but so far the NGC has grades these (not counting the laser frosted ones or proofs):

    MS61 - 6
    MS62 - 80
    MS63 - 309
    MS64 - 1539
    MS65 - 7590
    MS66 - 28204
    MS67 - 6010
    MS68 - 13
    MS69 - 9

    and a total of 404 in the AU grades
    Visit my hive!

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    • #3
      Thanx Bumblebee

      44164 from NGC

      Keep them coming guys it will be interesting to see the %
      STEVE
      “Numismatists are the guardians of history for future generations”

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      • #4
        This fellow forum member...

        Originally posted by stevedel65 View Post
        I am dumbstruck that people pay these ridiculous amounts of money for a coin that in my humble opinion will never reach any real collector status or am I missing the point totally

        Look at the link and the question posed by a fellow forum member and the reply that 2000 :o of these coins was send for grading, the 5mil that was minted, what % will end in slabs,can any of the boffins that track these things maybe come up with a number that is already been graded?


        2008 Birthday R5 - MS 61 NESLON MADELA R5 BIRTHDAY COIN for sale in Hartbeespoort (ID:25136752)
        Could simply NOT believe the answer given to my question - it kind of left me speechless really... so never got around to following through :p

        Very worrying that folks are getting pulled into this. Watching the bidding this morning - the lower grades of Mandela coins were roughly 200-300% more than the higher graded MS66 and MS67... !!

        Just checked and "Yup" the MS61 is presently at R750! MS62 at R450... Poor old sken!!

        BIZARRE!! :eek:
        "Truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."

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        • #5
          These things are being marketed as "Rare Grades" and NOT as rare coins, the people buying these things are not coin collectors but rather Grade Collectors.
          Visit my hive!

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          • #6
            MsPlod

            I believe this whole situation will be very damaging to the "coin investment industry" and our fascinating hobby,because a lot of people are buying these things with expectations that (again in my humble opinion) will not give them the returns that was promised by the sellers and we will lose their interest as soon as this hype start to collapse
            STEVE
            “Numismatists are the guardians of history for future generations”

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            • #7
              Hey Bumble, you've just coined a phrase. : "Grade Collectors!" :p
              Waaaaah haha aha hah!:D
              Ambient Music is the Wallpaper of my Mind

              Click Here to View My Items For Sale

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              • #8
                The controvery around Mandela coins is "exhausting" to say the least - this subject has been discussed with all sharing their personal opinions. At the end of the day the Madiba coins continue to attract astronomical bids - make one think!!
                stevede165 has used two words 'INVESTMENT" & 'HOBBY" that, now, seem to be very closely related

                Thanks for the thread
                Items I am selling.

                The tongue weighs practically nothing..
                Some people can't hold it!!

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                • #9
                  Lets take a quick look at this, the coin that started this thread sold for R750, if the people out there continue paying these prices for coins that are minted in the millions and would rather collect grades than coins then us coin collectors can snap up bargains like this.... Silver Coins - BRILLIANT UNCIRCULATED 1962 CROWN (50c) was sold for R210.00 on 20 Aug at 14:16 by Gecko Coins in Port Elizabeth (ID:25129327)

                  This is a 48 year old coin still in the same condition as it came from the mint with a total mintage of only 24378 of which 3844 were proofs. Think about it, there are already twice as many Birthday R5 coins graded by NGC alone and most of them selling for many times more than this 1962 50c, easily one of the most beautiful circulation coins ever to be minted in the RSA.
                  Visit my hive!

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                  • #10
                    Well, I have just decided also to get on the #@/*& Mandela boat,so here goes;)

                    "EXCLUSIVE ONLY TO FORUM MEMBERS" ULTRA ULTRA ULTRA RARE 90TH BIRTHDAY MANDELA COIN First time on BOB"NOT GRADED" "NOT SLABBED" " NOT UNCURCULATED" History available that it has at least paid for 3 x bread,2 x colddrinks,Handed to carwatches on at least 4 occasions ,have a trackrecord of twice through a slotmachine and visited a local schools`s tuckshop.

                    PICTURE NOT AVAILABLE (GENERIC CAN BE USED FROM YOUR POCKET CHANGE)

                    FOR THE VERY LOW PRICE OF R10000.00 (BUY NOW) :D

                    SHIPPING CONDITIONS

                    WILL HAND DELIVER ANYPLACE IN THE COUNTRY

                    If BOB allow the sale I will give them 20%;););)
                    STEVE
                    “Numismatists are the guardians of history for future generations”

                    Comment


                    • #11
                      Originally posted by BumbleBee View Post
                      Lets take a quick look at this, the coin that started this thread sold for R750, if the people out there continue paying these prices for coins that are minted in the millions and would rather collect grades than coins then us coin collectors can snap up bargains like this.... Silver Coins - BRILLIANT UNCIRCULATED 1962 CROWN (50c) was sold for R210.00 on 20 Aug at 14:16 by Gecko Coins in Port Elizabeth (ID:25129327)

                      This is a 48 year old coin still in the same condition as it came from the mint with a total mintage of only 24378 of which 3844 were proofs. Think about it, there are already twice as many Birthday R5 coins graded by NGC alone and most of them selling for many times more than this 1962 50c, easily one of the most beautiful circulation coins ever to be minted in the RSA.

                      Bumblebee, At least some of us are on the right track. I am sick and tired reading about Mandela 90th Birthday coins and the scam that surrounds this piece and how BidorBuy willy-nilly allow this to continue. Whilst the buyers with lots of money to throw away and no brains or common sense chase these parking attendant tokens it gives us opportunity to buy at relatively cheap prices true numismatic and future investment pieces.

                      THEY HAVE ALL BEEN WARNED, OVER AND OVER....
                      Light travels faster than sound. That's why some people appear bright until you hear them speak!

                      Click to view any items I may have on auction

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                      • #12
                        Originally posted by stevedel65 View Post
                        Well, I have just decided also to get on the #@/*& Mandela boat,so here goes;)

                        "EXCLUSIVE ONLY TO FORUM MEMBERS" ULTRA ULTRA ULTRA RARE 90TH BIRTHDAY MANDELA COIN First time on BOB"NOT GRADED" "NOT SLABBED" " NOT UNCURCULATED" History available that it has at least paid for 3 x bread,2 x colddrinks,Handed to carwatches on at least 4 occasions ,have a trackrecord of twice through a slotmachine and visited a local schools`s tuckshop.

                        PICTURE NOT AVAILABLE (GENERIC CAN BE USED FROM YOUR POCKET CHANGE)

                        FOR THE VERY LOW PRICE OF R10000.00 (BUY NOW) :D

                        SHIPPING CONDITIONS

                        WILL HAND DELIVER ANYPLACE IN THE COUNTRY

                        If BOB allow the sale I will give them 20%;););)


                        They may as well allow this listing as there is nothing different to what this would be to what they allow in any case pure thievery! At least you will not overcharge on your postage...LOL..
                        Light travels faster than sound. That's why some people appear bright until you hear them speak!

                        Click to view any items I may have on auction

                        Comment


                        • #13
                          Originally posted by 4kids View Post
                          Bumblebee, At least some of us are on the right track. I am sick and tired reading about Mandela 90th Birthday coins and the scam that surrounds this piece and how BidorBuy willy-nilly allow this to continue. Whilst the buyers with lots of money to throw away and no brains or common sense chase these parking attendant tokens it gives us opportunity to buy at relatively cheap prices true numismatic and future investment pieces.

                          THEY HAVE ALL BEEN WARNED, OVER AND OVER....
                          Actually, as per previous thread we have started contacting sellers who are listing these coins to refrain from using terms such as "investment coin", "rare" or "unique" etc. However, if the grade is rare, which it currently is, this does not amount to misrepresentation in our opinion.

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                          • #14
                            Originally posted by 4kids View Post
                            parking attendant tokens
                            :D:D:D:D
                            Visit my hive!

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                            • #15
                              Originally posted by 4kids View Post
                              They may as well allow this listing as there is nothing different to what this would be to what they allow in any case pure thievery! At least you will not overcharge on your postage...LOL..
                              I would caution anyone who thinks about doing such listings, we will not tolerate such behaviour on the site to prove a point. Making accusations of theft, fraud and other serious criminal offences has considerable legal ramifications and should not be bandied about or used lightly.

                              We have been fairly successful in getting the co-operation of most of the sellers regarding these items. We also do not believe this is blatant fraud, as many seller simply offer their opinion on what they believe about the item. However, once we have explained to them the possible repercussions or perceptions this can create, they understand and have agreed to assist us in this regard. Please be aware that it may take some time for teh changes to filter through.

                              Please also note, we will not tolerate "flaming" on the forum, inciting other users or any irresponsible actions on the part of sellers and buyers on our site.

                              The process going forward is to alert communitywatch@bidorbuy.co.za, and we will address the issue with the seller.

                              Thank you
                              Cuan
                              Last edited by qball; 20-08-10, 17:39.

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