Commemorative coins have no extra value – SARB
File image File image
Johannesburg
– The South African Reserve Bank (SARB) says commemorative coins are not worth any
more than their face value.
In
a statement issued on Monday, the bank says it is pointing this out because it
has received numerous enquiries on the value of the R5 commemorative
circulation coins.
It
notes that commemorative circulation coins, such as the R5 Griqua Town coin,
are ‘normal’ circulation coins that form part of all the other coins already in
circulation.
“These
circulation coins, whether ‘normal’ or commemorative, are all worth their face
value, which is R5 in the case of the R5 Griqua Town circulation coin.”
It
adds, should consumers receive one of these coins as change, they should not
hold on to it.
“Use
it to make a purchase so that the next person can also experience the beauty of
the coin.”
SARB
explains it issues commemorative circulation coins as part of its currency
production function. “These coins are issued to commemorate a person or an event
that has had a significant impact on society. Such coins are always produced in
large quantities and are made available and accessible to the public at face
value.
Commemorative coins. Picture: SARB
“For
example, the commemorative R5 Nelson Mandela circulation coin that was issued
in 2008 to celebrate the former president’s 90th birthday was, and is, still
worth R5. There could be a buyer willing to pay a higher price to collect such
a commemorative circulation coin but the SARB does not attach a value higher
than the face value to such coins.”
SARB
adds the South African Mint, which is a wholly owned subsidiary of the SARB,
produces numismatic collectors’ coins covering a wide range of themes, such as the
Natura coin series and the Krugerrand series.
“These
are sought after by both domestic and international collectors.”
Read also: SA launches Mandela coins
The
SA Mint also issues special-edition commemorative coins in limited quantities.
These are accessible to collectors who can afford to pay higher prices, SARB says.
“Such
limited-edition collectors’ coins are usually packaged in capsules and are
accompanied by relevant certificates to prove their authenticity. The
value of these coins is set by the collectors’ market and the SARB cannot and
does not speculate on this value.”
It adds: “Interested consumers and collectors alike are
encouraged to do their research and shop around to compare prices between
dealers before deciding to invest in a coin. Familiarise yourselves with the
differences between ‘normal’ circulation coins, commemorative circulation coins
and collectors’ coins.
“Remember: if you receive the coin as change, it is a
circulation coin and worth only its face value. Likewise, the R5 Griqua Town
commemorative circulation coin is also worth R5. It is not meant to be a
collectors’ item or an investment.”
BUSINESS REPORT
ONLINE