In 2014, IRS Forensic Investigations took instructions from a client to investig…

In 2014, IRS Forensic Investigations took instructions from a client to investigate a company known as the SA Coin Corporation regarding the sale of the Mandela R5 coins with a supposed buy back value. Needless to say when the client tried to enforce the buy-back agreement, she was met with multiple excuses as to why they would not buy back the coin at the promised value.

It is not just the Mandela R5 coin that is used in this sales ploy, but other coins as well; and it's not just SA Coin Corporation that has been accused of alleged unscrupulous behavior, but other coin dealers as well, including the well known Scoin shop.

Multiple complaints have been lodged with the National Consumer Commission and the story of unhappy customers has been featured extensively in the media.

It is the considered opinion of IRS that this blatant misrepresentation by the coin dealers is deliberate and therefore tantamount to fraud. We will be setting out to prove this. We have given the various companies dealing in this space the right of reply several times but we are not at all content with their respective responses. In view of this we are now proceeding further against these respective dealers.

If you have experienced any similar dealings with alleged unscrupulous coin dealers, please contact IRS via www.irsa.co.za/contact

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