The coin that sold for R6,700 is much different to a regular R5 coin because it has the letters CW which stands for Coin World. Picture: Screenshot
A South African Nelson Mandela Centenary R5 coin made in 2018 sold for R6,700 on the Bassani Auction House app.
This is according to a TikTok video by TikToker with the username @landonhistory.
According to the video, a R5 Mandela coin in good condition can be sold for R100 or R200.
However, the coin that sold for R6,700 is much different to a regular R5 coin because it has the letters CW, which stands for Coin World.
The letters CW means that the coin was struck on the Oom Paul minting press in 2018. The Oom Paul is one of the oldest working minting presses in the world, and it started pressing coins in 1892. The Oom Paul is still making coins today.
The TikToker said that there were only 4,000 of these coins made in 2018, which is far less in comparison to the millions of the Mandela R5 coins that were made that year.
Another factor that makes this R5 even more valuable is the grade that the coin got. On the auction site, it said the coin is labelled PL68. The PL stands for proof like, while the 68 is the highest grade that a Nelson Mandela Centenary R5 coin made in 2018 can get.
According to the TikToker, the grading of the coin means that it is a “top prop” and “there is no coin from this year like this that is in a better condition”.
“Sometime coins look the same, but the one could be worth nothing and the other one could be worth thousands and thousands, just because of the small differences that make it rare, and if it is in good condition.”
@landonhistory In this video I explain exactly why a 2018 R5 coin sold for R6700 on the Bassani's app. This isn't just a normal R5 coin, find out what makes it so special and valuable. #southafrica #money #fyp #history #facts ♬ original sound - Landon
IOL Business