The Origin of the Mandela Coin

The Mandela 90th Coin

• The Mandela 90th coin was released into circulation on Nelson Mandela's 90th birthday, July 18, 2008. Five million coins were initially made for use as legal tender. In South Africa, the coin is also called the "Madiba R5;" "Madiba" refers to the name of Mandela's native clan and "R5" stands for "Rand" -- the South African currency -- and the denomination of the coin. Five South African Rand (ZAR) is equal to approximately 70 American cents in January 2011.

Appearance

• The two coins are easily distinguished by appearance, primarily because the Mandela 90th coin is bimetallic (consisting of two metals) while the other is only a single color due to the ounce of gold. The Mandela 90th coin has an image of Mandela on one side and the South African coat of arms on the other. The outer rim, silver in color, notes the "90 years" on one side, while the other has the year and "Siud Africa" and "Afrika Borwa" written, which means "South Africa" in two of the languages used in the country, in recognition that the language on the coin changes year by year.

Other Coins

• Nelson Mandela also appeared on coins honoring him as president and as a Nobel Prize winner. For his inauguration in 1994, a special coin was minted in the same value of five Rand. He also appeared on a coin along with Frederik Willem de Klerk, which was first minted in Norway in 2007 as part of a series of rare coins made to commemorate winners of the Peace Prize. The Mandela/de Klerk has since been remade by the South African Gold Coin Exchange, the country's largest distributor of bullion, gold investments, and gold coins, which created a one ounce version of the coin with only Mandela present. This version of the Mandela coin is sold as a collectible and is not used for legal tender.

Value

• As early as 2000, coin sellers began claims that Mandela coins were selling for upwards of 100,000 South African Rand (over $14,000 American dollars). These claims have since been made of Mandela coins regardless of which coin it is. While Mandela coins have generated a great deal of interest due to the popularity of Mandela himself as well the general rarity of limited edition coins, the claim of this price for a coin is misleading. The reported sale was of a proof of the inaugural coin -- where very few were made or released and generally require authentication -- and not of a regularly circulated coin.