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(19 July 2011) The South African Mint has two limited edition coin sets on auction on South African marketplace www.bidorbuy.co.za. The special circulation coin sets commemorate ninety years of the South African Reserve Bank (SARB) and are the first auctions by SA Mint on bidorbuy.
The SARB 90th Anniversary Gold Set consists of a proof R5 circulation coin, a proof R5 sterling silver bi-colour coin, and a £100 2oz 24-carat gold bank note replica. This set will be the only one on offer to the general public direct from SA Mint and is on auction online on bidorbuy from 19 to 30 July. The opening bid is R22,000, and there is no reserve price.
The SARB 90th Anniversary Sterling Silver Set consists of a proof R5 circulation coin and a £100 29 gram sterling silver bank note replica. The Silver Set is on auction for two days only, from 19 to 20 July, and with the rock-bottom opening bid of R1. This auction is also without a reserve.
The SA Mint created the two sets to celebrate 90 years of the South African Reserve Bank. Both are collector's pieces and are minted in limited quantities, of 500 for the gold and 4500 for the silver set.
What makes the sets that feature on the bidorbuy auctions truly exceptional and unique is the fact that they are certified as first in their respective ranges. The gold set is number 001/500, and the silver one is number 0001/4500.
The South African Mint is the official mint of the Republic of South Africa. SA Mint manufactures coins on behalf of the South African Reserve Bank. It also supplies coins and coin blanks to many countries around the world.
“The Coin category is traditionally one of the biggest on bidorbuy. We are very proud that the SA Mint is appearing on the site for the first time, and with such exceptional items too”, says bidorbuy CEO Jaco Jonker. “Each month, transactions in rare and collectible coins on the site reach between R3.5 and R5 million. It is estimated that this represents about 30 percent of the total volume of trading in collectible coins and notes in South Africa.”
The public will have the opportunity to view the SA Mint’s SARB commemorative sets at the Johannesburg Coin show, to be held on 30 July 2011 at The Michelangelo in Sandton. The entrance to the show is free. One day earlier, on 29 July, the SA Mint will host a conference at the same venue with the aim of opening the world of coin collecting to the previously disadvantaged sectors of the population.
Jaco Jonker says that coin collecting is not for the rich only.
“While we have seen on bidorbuy some rare coins or sets of coins achieve prices in the range of hundreds of thousands of Rands, even people of modest means can build an impressive collection over years. It is, of course, more challenging to build a coin collection on a shoe-string budget, but it is also more rewarding”, he says and adds: “In this respect, online marketplaces like bidorbuy can be or great help to both aspiring and experienced collectors.”