‘Springbok medallions more than just coins’
THE Cape Mint’s invictus medallions are “not just a collection of special edition of coins, but an investment to increase people’s portfolios”, company representative Itai Maunganidze has said.
This comes as the company’s parent African Medallion Group (AMG) has launched quite a number of expansion initiatives, including a multi-million proof coin marketing deal with the South African Mint Company — a subsidiary of the South African Reserve Bank.
“From a value perspective… it encompasses our time, culture, democracy and history. And when you look at it… that sort of value actually comes (from sentiment and that rich history) … and we want it to carry on from generation to generation,” Maunganidze said at the recent unveiling of the medallions in South Africa.
“…the medallion is made up of a precious metal, which is linked to an international trading asset based to diamonds… and we also realised that we had to cater for a whole secondary market because that is what democracy is. So, we have the base metal, which is also of competitive value because it is a collector’s piece,” he said.
“We have the silver medallions, which are linked to the international silver price and, so, you are not only buying (a specialised coin) but an investment. And so from an investment perspective, it is worth every fun of it and as we know with precious metals they increase all the time, and it is about looking at long-term investments..,” Maunganidze, an AMG executive, said
With the rare collection having been launched to commemorate the springboks’ 1995 rugby world cup (RWC) win and the country’s 25-year democracy, the three-year deal was hammered as SA looks forward to capturing its third world cup win — after the 1995, and 2007 victories.
In the meantime, the invictus arrangement was put together in conjunction with the South African Rugby Union and professional rugby players’ union.
Natanya Van Niekerk, a Cape Mint artist, recently said the product was inspired by a number of socio-economic milestones in SA and there was “no better way of celebrating those issues and moments than rare coins”.
“There was probably nothing more inspiring in SA than the 1995 World Cup and now that we have our first black captain of the springboks (and l believe) its huge,” she said, adding the process of making the invictus medallions was also quite intensive as it involved designing, engraving players’ portraits, size-sculpting and magnituding.
“For us, the symbolism of rugby within the country (and beyond) is much more than sport, but team spirit and that is what we need to do (in building our continent, and economies,” Van Niekerk said.
With the invictus medallion already on sale through licenced retailers and directly, the Cape Mint became part of Frank Buyanga’s AMG after the latter’s acquisition of the Pagliari Group mid last year.
The development also comes as the gold trading entity has spread its tentacles to at least four regional countries, including Lesotho, Mauritius, Namibia and Zambia — which was to be achieved through organic growth, and strategic acquisitions.
“Our aim is to bring (value and) real wealth to our investors and that R100 million takeover was just the beginning of our consolidation, and leap,” Buyanga said then.
“We also remain humbled and motivated to ensure that AMG significantly contributes to the continent’s numismatic industry, and create value… by championing local beneficiation, employment creation and international exposure,” he said.
The SAMC and Pagliari deals also comes as the South African-based firm has set its sights on partnering African sovereign wealth funds (SWF), starting with Zimbabwe, at the back of its R6 billion gold reserves acquired from Rand Refinery.
With the Pagliari deal having been completed in May 2018, the 61-year old jewellery maker’s Cape subsidiary was part of the iconic gold processor.
And the Atlantic seaboard mint also has major contracts with companies such as global cigarette giant BAT, Germany automaker Volkswagen, the South African Police Services and others. — Staff Writer