VALUE FACTORS
It is important to note that age alone is not an indication of coin value. Three factors, rarity, demand and condition combine to give a coin its value.
- Rarity is the most important factor. This is determined by the number originally minted and how many coins survived.
- Without demand for the coin, rarity alone is not enough to ensure a premium price.
- The condition of the coins refers to its state of preservation. Those with shiny surfaces and no sign of wear are the most sought-after. Coins and commemorative medallions incorporated in jewellery are normally valued at 3-4% above their metal content.
DESCRIPTION AND VALUATION
- Identify country of origin, the metal content, denomination, and date.
- Note the weight and diameter of the coin, if possible .
- Note the condition of the coins as follows:
Fair – design and lettering can just be identified.
Good – design and lettering are clear.
Fine – a circulated coin with little wear.
Uncirculated – no wear and tear visible, tarnish may be present on older coins.
Proof – coins with a mirror-like surface, sometimes combined with sand-blasted or matte surfaces, specially struck for collectors.
- Determine whether the coin is authentic or counterfeit, legal tender or a commemorative medallion.
- If mounted in jewellery, describe and value as if normal jewellery. Rare coins of numismatic value are rarely found in jewellery. Once a coin is mounted in jewellery, it loses some value due to its exposure to damage. Some may even be soldered onto a frame.
Never clean or polish a coin or rub it against a touchstone to determine its metal content. Although few jewellers are experts on world coin values, our modern information systems provided instant access to such values. You can current values for Krugerrands from the daily newspaper, while local and international coin dealers provide buy-and-sell price lists. Silver coins are normally sold at the silver scrap price, except for some rare issues.
| EXAMPLES OF RARE SOUTH AFRICAN COINS | ||
| Year | Face Value | Approx. Trade Value |
| 1931 | Three pence (tiekie) | R2 000 – R20 000 |
| 1932 | Two shillings six pence | R1 000 |
| 1933 | Two shillings | R1 000 |
| 1939 | One shilling | R5 000 |
| 1939 | Six pence | R5 000 |
| 1965 | One cent (Afrikaans issue) | R5 000 |
| 1965 | One cent (English issue) | R500 – R1 500 |
| 1965 | One cent (English issue) | R30 |
| 1965 | Fifty cents (English issue) | R10 000 – R15 000 |
| 1966 | One rand (Afrikaans issue) | R1 000 – R1 500 |
| 1989 | Five cents | R30 |
IDENTIFYING COUNTERFEIT COINS
There are two main types of coins forgery:
- The one type produces fake coins en masse intended for circulation. Such counterfeit coins are often underweight or under-karat and may have designs that are less refined than those of the genuine coin. These forgeries are easy to identify when compared with a genuine coin’s weight, dimensions, sound when dropped and design details.
- The second type of Forgery produces coins on smaller scale to sell at a premium to collectors. Genuine coins are produced by a stamping process using sophisticated presses, while most counterfeit coins are cast by pouring liquid metal into moulds or dies. The latter process often leaves identification marks such as cards or pimples on the counterfeit coin. Antique coins are often forged in this manner. Such counterfeit can be identified by rough feel between the fingertip, the lack of patina, file marks on the edge where the casting sprue was removed or a thin raised line on the edge of the coin which formed at the joining edge of two moulds.
REPRODUCTIONS OR REPLICAS OF ANTIQUE OR VALUABLE COINS
These are normally produced for educational purposes, stage money and historical enactments and are often sold by museums. They are not considered counterfeits as they do not purport to be the genuine article. Some may have deliberate changes in design and may have the word “copy” or a set of initials on one or both sides.
Article courtesy of SA Jewellery News
