South Africa Mint releases new gold coin

(October 15, 2014 - by SungulaNkabinde)

The Mint will make a contribution to the conservation of the Cape Mountain Leopard, an endangered species.

JOHANNESBURG (Moneyweb) - SA Mint, a wholly owned subsidiary of the South African Reserve Bank, has launched a new range of coins for its Natura Series – a now multiple-award winning collection of gold coins, which was first launched 1994 to celebrate South Africa’s diverse wildlife.

The Leopard 24ct gold legal tender set, which has four denominations – one ounce, half ounce, quarter ounce and tenth ounce – each depicting typical iconic moments of the leopard’s life, was designed by MJ Scheepers, and will be the first of a three-year ‘Nocturnal Hunter’ series.

The coins are available separately or as a set, the latter of which is valued at R40 615, according to the official order form, but is subject to market fluctuations.

“We release a new coin series for the Natura Series brand each year. Last year we released the Zebra coin, which was the last collection for the Nature’s Families Series launched in 2011,” said TumiTsehlo, MD of SA Mint.

Tsehlo says the Natura Series has been the most successful as it has received many awards, like the prestigious “Most Beautiful Commemorative Gold Coin” awarded at 27th Annual Mint Directors Conference.

But perhaps more importantly, the Natura Series has championed wildlife conversation, contributing to the fight against Rhino poaching, among other causes. “In 2009 and 2010, we had the white and black rhino coin collections… And with rhinos still under threat, who knows? There could come a day when these coins would be the only remaining reminders (that rhinos once walked the earth),” he said.

From the sale of these new leopard coins, SA mint will make a contribution to the conservation of the Cape Mountain Leopard, an endangered species, by donating 3.5% of the proceeds from the first 600 one-ounce limited edition coins - which were overstruck in an ancient Sandstone Cave overlooking the rugged Cederberg and Tankwa Karoo valley - to the Cape Leopard Trust in the Western Cape.

In addition, it will also donate the full amount received for the first one of those coins, which will be sold in an online auction that closes on 15 November 2014, 6pm (CAT). Coin collectors and enthusiasts around the world are able to now bid for the coin on www.legacylive.co.za. The highest bid, with 32 days remaining on the auction, was R 64 000.

Craig Nicholls, general manager of Gold Reef City Mint, says such coins are driven by supply and demand, unlike straight bullion coins (like Krugerrands), which trade according to the rand/dollar exchange rate.

“Although you pay a premium for Krugerrands (for the cost of making the coin), it is very liquid… But when someone wants a portfolio of gold coins, they tend to go for a mix that includes limited edition coins, like the Natura Series, as prices for these types of coins are linked to supply and demand as opposed the standard gold price for the day” Nicholls explains.