Old South African coins that are rare and in good condition could be worth a lot of money. Picture: Freepik
A South African R5 coin that was struck on the Oom Paul minting press in 2018 sold for R6,700.
This opened the door to questions about what makes a coin valuable and how to check if a coin is valuable?
To find this out it is essential that people understand what numismatics is.
Dillon Bassani, director, Bassani Auction said that numismatics is the study and collection of coins, paper currency, and medals.
Numismatics enthusiasts love it for its historical significance, artistic beauty, and potential investment value while collectors often appreciate the tangible connection to history, as well as the thrill of discovering rare and valuable pieces.
According to Bassani, other examples of rare coins that were worth a lot of money are genuine one of a kind pieces like a single 9 pond from 1898 that sold for R20 Million in 2010 or the 6 pence from 1928 that sold for just over R3 million in today’s currency.
Many pattern or error coins are also valuable like the 1898 Full Brockage Pond or the 3 pence from that was struck in gold instead of the usual silver. Other valuable coins that people may be familiar with are the 1965 Afrikaans R1 coin or the 1965 English 50 cent.
There are three signs that people should look for to check of their old coins or notes are valuable including: condition, metal content and rarity.
The better the condition of the coin, the higher they are in value especially non-precious metal coins. In terms of notes, uncirculated notes that are in pristine condition are worth more than notes that are worn or damaged.
“No tears, folds or any marks to the notes is almost most ideal,” Bassani said.
Coins made of gold or silver are in high demand, as their metal content guarantees a minimum value. For example, gold prices are near record highs, boosting the appeal of coins like ZAR ponds, half ponds, and Krugerrands.
Rare coins, such as the 1 cent minted in 1965 or the 1/4 penny from 1926, or the 1/4 pennies made between 1932 and 1936, can fetch high prices due to their scarcity even though they don’t have a high metal content of silver or gold.
According to Bassani, notes that are limited-issue or early series are often more valuable.
South African pound banknotes tend to be more valuable than South African rand banknotes, especially 100 pound banknotes.
Bassani said that 100 pound banknotes from 1933 are selling for more than R500,000 just two years ago.
“Also the first South African Republic banknotes from 1961 could have a decent value in an uncirculated condition,” Bassani said.
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