Where can I sell my 2004 R5 coin

How Much is the 2004 R5 Coin Worth?

The 2004 R5 Coin is a special coin because it was the first bi-metal circulation coin in South Africa and it incorporates added security features. For this reason, many people want to know how much the 2004 R5 coin is worth today?

A 2004 R5 coin mint marked “Oom Paul” coin can fetch around R450. An NGC graded uncirculated coin with an MS65 grading can also fetch approximately R450. Certain coin dealerships are asking as much as R700 for a 2004 R5 coin. Some online websites feature an Indicative Market Price of R800.

If you are in possession of a 2004 R5 coin you may want to know what an “Oom Paul mint marked” coin is. You may also want to know how to find out if your coin is graded or not and where you can get it graded, as well as where to sell your coin.

I will try to answer those questions in this article, so please read on.

What Makes the 2004 R5 Coin Special and Valuable.

In August 2004, the South African Reserve bank introduced the first bi-metal circulation coin. This R5 coin began circulating on August 2nd 2004. The purpose of this new coin was to circulate a new R5 coin with added security features so as to put a stop to the prevalent circulation of counterfeit coins.

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These coins are usually only worth their face value, unless you are in possession of an “Oom Paul” mint marked coin, or a coin that has not been circulated and has been graded.

What is an “Oom Paul” mint marked coin?

A coin with an ‘Oom Paul’ mint mark was struck on the ‘Oom Paul’ coining press. ‘Oom Paul’ is one of the oldest mint presses in the world. Over 120 years old, despite being in perfect working condition, ‘Oom Paul, is no longer being used. Made in 1891 in Berlin, Germany, “Oom Paul’ was shipped to South Africa. Millions of coins have been minted on the “Oom Paul’ press, including the 2004 R5 coin. As South African coins are no longer minted on the ‘Oom Paul’ press, a coin that has been may now be more desirable and boost your asking price.

How do I know if my coin has been graded?

You will know that a coin has been graded as it will be sealed and you will not be able to touch it with your fingers and hands. Once a coin is graded it is sealed inside a capsule made of solid plastic or acrylic. This capsule is airtight in order to preserve the coin.

Inside this sealed capsule will be a small notice with the following information will be displayed:

  • Grading Company name
  • Grade of the coin
  • Serial Number
  • Year
  • Country of Origin
  • Denomination

What does grading mean and how does it affect a coin’s value?

Coin grading is a careful examination of that coin that will indicate how well it has been looked after and what condition it is in. The preservation of the coin will determine the coins market value.

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Coins receive different levels of grading right from those coins that are in poor condition and showing signs of wear and tear, to coins that are in perfect condition, as if they have just come from the mint.Grading guarantees the quality of a coin and assists in fetching a higher sale price.

5 aspects are considered when grading a coin:

  • Coins Luster
  • Eye Appeal
  • The Coloration of the coin
  • Strike
  • The condition of the surface of the coin

Where can I get my R5 coin Graded?

Any coin dealer you approach to grade your coin must be qualified to do and have a good reputation. If not, you may not receive an accurate grading of your coin.

“When it comes to coins (and South African coins in particular), the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) are the two most reputable and credible companies in the industry”

southcapecoins.co.za

There is a cost involved to get your coin graded. You would then want to be sure you have done your research or spoken to someone who is an expert in the field to ensure you don’t spend more money grading your coin than you can actually sell your coin for.

How do I know if my R5 coin is uncirculated?

There are 2 main indications that a coin has not been in circulation:

  1. The coin has no major visible signs of wear and tear. It appears to be new and the edges have not been worn down.
  2. Uncirculated coins often have a visible sheen or “mint luster” that is worn off when used and handled.
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Where can I sell my 2004 R5 coin?

There are a few options you can explore if you decide to sell your coin.

  • You can approach a local coin dealer and they may be interested in purchasing your coin.
  • Most commonly, people sell their coins online. You can advertise on Gumtree, Bidorbuy.co.za, Ebay and OLX. Some also use Facebook Marketplace to sell coins.
  • You can search online for coin auctions and coin shows in your area and you could possibly sell your coin there.

What does the 2004 R5 coin look like?

The 2004 R5 coin is a bi-metal coin that looks very different to its predecessor. It comprises 2 different metals of different colors and is thicker and heavier than the R5 before it.

  • The image depicted on the obverse (top) of the coin is the new coat of arms of South Africa, with the year 2004 on top, the lettering “Africa Dzonga” on the left and the lettering “Ningizimu Afrika” on the right
  • The image depicted on the obverse (bottom) of the coin is the Black Wildebeest (also called the Gnu) with the lettering “5” on the top of the coin, and the lettering “Rand” at the bottom”

What security features have been incorporated into the design of the 2004 R5 coin?

  • The 2004 R5 coin has a security groove on the edge of the coin with serrations on both sides of the groove
  • The lettering SARB5 (standing for the South African Reserve Bank R5) is engraved into the security groove
  • The coin has microlettering depicting the letters “SARB” on its reverse side.

Conclusion

The 2004 R5 coin is an upgraded design of the R5 coin, which was designed to include additional safety aspects that would assist in slowing down the spread of counterfeit coins.

This coin while in circulation is worth its face value, but if graded and uncirculated can fetch a much higher selling price. Do some research on how to go about grading your coin, if it is not already and then have a look at various online marketing platforms to get the best price for your coin.

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