PROJECT: KNOCKS AND SCAMS - SCAMS WHEN EXCHANGING OLD SOUTH AFRICAN COINS
- isabels39
- May 28
- 7 min read
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Many South Africans have old coins and may want to exchange them for money.
Unfortunately, scammers often take advantage of people who do not know the actual value of these coins.
Specialised Security Services aims to raise awareness about common scams and help people avoid becoming victims.
ACTUAL CASE RECEIVED:
(Actual sms received (hence some typos))
"Ek het besigheid met die twee persons gedoen dis Om van my Coins TE verkoop..
Ek het n registrasie FOOI van R200-00 in n bank rekening inbetaal wat hul Vir my gegee het.
Toe vra hul my hoe WIL Ek dit he.. Moet hul dit Vir my inbetaal, R40 300 000-00, in my Bank rekening of Moet hul dit Kom aflewer.
Toe Se Ek hul Kan dit inbetaal maar hoe kry Ek die Muntstukke by hulle.. toe Se hul Ek Moet dot by die poskantoor Gaan inhandig en so wegstuur, toe is Ek nie TE vinde daarvoor nie want Se Nou net dit Raak WEG en hul Kan net dowel n hold op die geld ook sit wat klaar in die bank is en hul sal dit los maak as hul die coins gekry het..
Hul het gesukkel Om die geld in my rekening inbetaal TE kry toe Se hul daar is n bedrag van R350-00 eat Ek Moet betaal Om die geld los te kry.. (Dit was Vrydag gewees) Ek het dit betaal en toe werk dit nog nie en hy Se toe Vir my hul sal die geld Vir my kom aflewer die Volgende dag. (Saterdag)
Maar daar is Nou net een problem Ek Moet R1250-00 inbetaal voor HUL Kan Ry Om die pakkie te Kom aflewer..Ek Se toe Ek het nie daai bedrag nie en die agent wat die pakkie sal Kom aflewer Se toe as Ek net solank R650-00 Kan gee Dan Kan Ek die res (R600-00)(Sondag) Vir hom gee as hy die pakkie afgelewer het. Toe Se Ek dis reg so..(die agent het van Kaapstad afgery tot op Johannesburg)
Ek het die R650-00 inbetaal toe Ry hy tot op Johannesburg toe Se hy dit is Nou Donker hy sal die Volgende dag Verder Ry.
Die Sondagoggend vroeg skakel hy my en Se Ek Moet asb die R600-00 inbetaal Vir petrol van Johannesburg Na Nelspruit .. toe Se Ek maar ons het alreeds R1250-00 betaal want my man het R650-00 inbetaal die saterdagoggend en toe hy sien dat dit nie deurgaan nie weer probeer..toe stuur hy R600-00 WEG.
Intussen het Ek Vir my dogter Saterdag gevra dat SY net die R650-00 Moet betaal sodat die agent net Kan Ry Om die pakkie te Kan Kom aflewer..
En Sondag toe laat weet hul my die geld wat my man inbetaal het is nie in die rekening nie. Toe vra Ek my dogter weer Om die R600-00 in te betaal sodat die agent net Kan Ry Om hier te Kan Kom.
Halfpad hierheen toe WhatsApp hy weer en Se hy het n probleem. Die voertuig Se band het n gat in en ons Moet Vir hom geld stuur sodat hy n nuwe band Kan Koop.. eers was dit vyfduisend Rand toe n duisend Rand en toe R450-00..
Daar het Ek volstrek geweier want dis nie my verantwoordekikheid Om Vir hom n nuwe wielvte Koop nie net omdat hy die pakkie by my Moet Kom aflewer
Ek het Al die bewyse van inbetaling en gesprekke..
Ek het Nou nog nie my pakkie ontvang nie omrede hul wag Vir die R450-00 inbetaling..
Ek stuur die bewyse van inbetaling a asook hul fotos.. Ek weet nie of dit regtig hul fotos is nie.
Ek het vanoggend gevra dat die agent wat die pakkie Moet Kom aflewer Vir my n foto van himself en as daar IEMAND Saam met HOM Ry asook sy voertuig en voertuig lisensie DADELIK Moet afneem asook die pakkie in die voertuig.. hy het net die voertuig en die pakkie afgeneem Sonder die voertuig Se registrasie nommer en ook nie sy foto nie...
Die besighede waar hul werk is Gold and silver Coin Company
Sy Naam is Nair Morgan
En die agent Se Naam is Tony Brown en hy werk by Bento Coins Company..
So MNR Bolhuis Ek weet nie of dit eg is en of dit n scam is nie.
Die Nair het niks gepraat van afleweringsfooie nie.
Niks gepraat van instandhouding van die voertuig nie.
Hy het net gese DAT ons die Registrasie FOOI Moet betaal.
Al wat Ek will weet of dit die regte mense is met Wie Ek probeer besigheid tecgefoen het en of dit regtig hul was... Of is dit weer mense wat hul Naam,van, foto, besigheidsnaam gebruik het...
Hul telefoon nommers is
0738612604
0688208743.."
HOW PEOPLE GET SCAMMED:
FALSE PROMISES OF HIGH VALUE:
Scammers tell people their ordinary coins, like the Mandela R5 or R2, are worth significant amounts of money.
They may ask for a fee or for the seller to send the coins, promising significant returns that never materialise.
ADVANCE PAYMENT SCAMS:
Fraudsters ask people to send coins first with a promise to pay later.
The scammer disappears once the coins are sent and no money is received.
FAKE COIN DEALERS:
Some scammers pretend to be professional coin buyers or dealers.
They use fake names or credentials and offer high prices.
Once they get the coins, they vanish without paying.
MISLEADING INFORMATION:
People are often led to believe all old coins are rare or valuable.
In reality, most old coins are only worth their face value or metal content.
This false belief makes people easy targets for scams.
UNAUTHORISED EXCHANGES:
Some scammers arrange to meet in unsafe or unofficial locations to exchange coins for cash.
These situations are risky and often lead to theft or fraud.
HOW TO MITIGATE THE RISKS OF BEING SCAMMED:
The South African Reserve Bank (SARB) only buys back gold coins such as Krugerrands, Protea, and Natura series based on their gold content, not rarity or collector value.
Circulation coins like Mandela R5 or R2 coins are only worth their face value and are not repurchased by the SARB.
Only deal with trusted and authorised coin dealers, such as those listed by the South African Mint or other official sources.
Never send your coins before receiving payment.
Always check the identity and reputation of the buyer or dealer.
Be cautious of pressure to sell quickly or offers that sound too good to be true.
HOW TO SAFELY EXCHANGE OLD COINS:
Use official channels, like booking an appointment with SARB, to sell gold coins.
Sell collectable or rare coins through reputable coin dealers or collectors who can assess the coin’s actual value.
Avoid online or informal offers, especially if they lack proof of legitimacy.
Check trusted sources or consult experts to learn about your coin’s real value.
Scammers often take advantage of people wanting to exchange old South African coins.
Many of these coins have little to no value beyond their face value or metal content.
Understanding the facts, working only with official dealers,
and never sending coins before payment is key to protecting yourself.
Stay informed, stay cautious, and do not let misinformation cost you.
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Mike Bolhuis
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