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JD Numismatic Corporation is one of the largest coin company in the world that buys and sells South African rare coins. Our central philosophy is to build rare coin collections and portfolios that will achieve high financial growth. We are also committed to the use of our coins to enhance, preserve and expand our rich cultural history worldwide.

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Author: I-Net Bridge |

23 March 2012 15:39

Mandela medallions sales reach record high

Helped by spike in gold price.

Johannesburg, Mar 23 (I-Net Bridge) - Sales figures for gold medallions bearing the image of former SA president Nelson Mandela and Krugerrands, hit all-time record highs in February, says the South African Gold Coin Exchange (SAGCE).

According to Alan Demby, SAGCE's executive chairman, the surge in interest was attributed to a combination of factors, among them a near-term spike in the gold price as well as the international media attention and concern over Mandela's health.
Demby said that not only were sales at record highs, but that buy-back volumes had also registered a substantial rise.

"February saw gold bullion starting to challenge its all-time high, at which stage many owners of gold coins and medallions cashed in their profits. Consequently, we experienced an active two-way trade," Demby said.

Demby suggested clients take careful note of the ebb and flow of interest in Krugerrands and Mandela gold medallions.

"Based on our observations over the a long period of time, we conclude that aggregations of buying and selling patterns among our clients can serve as an often reliable pointer to future movements in the gold price. Thus, the past month's enhanced volumes could indicate renewed gold bullion strength in the near future."

Turning to the Mandela gold medallions, Demby drew attention to the emotive premium they commanded as a function of the news exposure accorded to the elderly statesman.

"If, for any reason, Madiba attracts the media's attention and this coincides with optimism over gold's value outlook, we experience an immediate increase in interest in the medallions."

The Story Behind Mint and Proof Sets

Proof coins are struck from specially selected, highly polished planchets and dies. They usually receive multiple strikes from the coining press at increased pressure. The result is a coin with mirror-like surfaces and, in recent years, a cameo effect on its raised design surfaces.

The coins are then carefully handled; placed in sealed, inert holders; and sold to collectors in sets. Traditionally, the sets contain one proof example of each coin struck for circulation that year (cent through dollar), but with the proliferation of commemorative coins and other special issues in recent years, such as the Walter & Albertina Sisulu Set , the Mint has offered multiple proof sets in a single year.

South African proof coins date back as early as 1923, but were struck largely as presentation pieces for VIPs.

Coins in mint sets still receive special handling and packaging, so they are referred to as “uncirculated.” They are sometimes removed from their original Mint packaging on the secondary market and sold individually. These account for the individual uncirculated examples of late-date coins sold at shows and shops.

Where to Get Them

Current-year sets are available directly from the JD Numismatic Corporation (www.jdcorporate.co.za). Previous year’s sets may be available directly from JD Numismatic Corporation also if supplies last. For example, some 2007 sets were still available from us.

Past-year sets are available at shows, shops, or through advertisements in hobby publications such as Coins magazine. Some may also offer current-year sets.

How Much?

Some scarcer sets may be higher. Consult a current copy of Coin Prices magazine, available on many newsstands, for a guide to current retail values for proof and mint sets.

Collecting Strategies

A complete run of proof or mint sets from their first issues through the current year is not a practical goal for most collectors. Thus, many focus on a few particular years or series of years.

For example, some collectors seek sets from their birth year and the birth years of their family members. They may also seek sets from other years that have significance to them, such as a wedding year.

Some may also focus on sets containing a particular commemorative or other series of coins. For example, some may seek a complete collection of proof 50 State Quarters.

Condition

As noted, proof and mint sets are specially handled and packaged at the mints. Thus, grading is less of a factor in purchasing and collecting them.

Still, check each coin in the set before you purchase it or after you receive it in the mail. Make sure the coins’ surfaces are clean and free of scratches or other significant blemishes.

How to Store Them

As noted, proof and mint sets are sold by the U.S. Mint in sealed, inert holders and should be left in those holders for long-term storage. Mint sets from 1947 through 1958 were mounted in cardboard holders, which caused the coins to tarnish. Sets from those years will probably be found in some type of more secure aftermarket holder when offered on the secondary market
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Author: I-Net Bridge |

23 March 2012 15:39

Mandela medallions sales reach record high

Helped by spike in gold price.

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