Two new R50 Mandela coins were launched by the South African Mint on Monday - costing R127 each. The launch of the coins coincides with former president Nelson Mandela’s 100th birthday, commemorated by the South African government throughout the year.
The bronze coin will be priced at R127 representing the 27-years Mandela spent in prison, South African Mint managing director Tumi Tsehlo said in a statement.
“Pricing the coin was a conscious tribute to Nelson Mandela’s legacy and our way of paying it forward,” Tsehlo said. “With every coin purchased, R27 (VAT-free) will be donated to the Nelson Mandela Foundation.”
The silver coin retails at R695.
The R50 bronze alloy depicts Mandela as a young lawyer while the R50 sterling-silver coin depicts the older president.
The coins can be purchased from the South African Mint’s retail store in Centurion, Elegance Jewellers in Melrose Arch and various pop-up stores in malls around South Africa.
The two collectable coins are packaged in ‘coin blister’ envelopes which bear images of Mandela over the years.
The coins form part of a wider ‘Celebrating South Africa’ series. The Mint will also be announcing new products in the Mandela Centenary range that will "far exceed the expectations of both numismatics and aficionados", Tshelo said.
The range is set to include an unreleased special-edition gold coin.