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'No R10 coin yet. But it’ll be smaller than the R5 when it comes'

28 August 2018 8:23 PM
Tags:
Gold coins
Mint
Krugerrand
coins
south african mint
coin
krugerrands
Tumi Tsehlo
bullion

The Money Show’s Bruce Whitfield interviews South African Mint Managing Director Tumi Tsehlo.
This collectors' coin portrays Nelson Mandela as a young and passionate lawyer.

…our purpose is to deliver coins reliably to the South African public and the Reserve Bank at the lowest price possible.

Tumi Tsehlo, South African Mint

We’re still some distance away from having a R10 coin in South Africa. It certainly comes up for discussion from time to time… We would make sure it’s a much better looking, probably smaller than the R5 coin.

Tumi Tsehlo, South African Mint

South African Reserve Bank owned South African Mint – located in Centurion - is responsible for minting all coins of the South African Rand.

Its mandate includes making a profit and has, since 1996, produced coins for 50 countries.

It has minted 60 million Krugerrands, more than all other gold coins together.

The Money Show’s Bruce Whitfield interviewed South African Mint Managing Director Tumi Tsehlo.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We are expected to make money [profit]…

Tumi Tsehlo, South African Mint

Each Krugerrand ever minted was produced by us… More than 60 million units since 1957… More than all the other bullion coins together…

Tumi Tsehlo, South African Mint

Our main mandate is to ensure people have coins to transact in the economy… a secondary mandate is to depict South African heritage…

Tumi Tsehlo, South African Mint

We’ve made coins for more than 50 countries since 1996.

Tumi Tsehlo, South African Mint

There are 50 mints in the world… We compete very hard against one another, but we also collaborate… There are few export mints in the world, we are one of them.

Tumi Tsehlo, South African Mint

If you melt our coins you will get far less than the face value…

Tumi Tsehlo, South African Mint

We get one order each year [from the SA Reserve Bank]…

Tumi Tsehlo, South African Mint

We’ve got roughly about R5 billion of coins in circulation…

Tumi Tsehlo, South African Mint

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28 August 2018 8:23 PM
Tags:
Gold coins
Mint
Krugerrand
coins
south african mint
coin
krugerrands
Tumi Tsehlo
bullion

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