ONLY 1 COIN

A partial explanation for this price level lies in the coin’s theme. Every South African Mint product associated with Mandela enjoys extraordinary popularity in South Africa and, to a growing extent, around the world.

The 90th birthday issue joins a family of similar coins, namely, the 1994 Mandela presidential inauguration R5 and his post-presidential 2000 R5, whose rates of appreciation in the numismatic market make them top performers globally. Of all coins ever minted anywhere, the 2000 R5 has the steepest curve of increasing prices. No other coin comes close.

South Africans have been hoarding the new R5 since July 18. Anticipating this behavior, the South African government tried to forestall it. Reserve Bank Governor Tito Mboweni and Finance Minister Trevor Manuel practically begged the public to keep the coin in circulation. Of course, South Africans didn’t comply.