SOUTH AFRICAN RARE COINS ARE AMONG THE WORLD’S BEST PERFORMING COLLECTABLES
Attracting many international collectors and investors are South African rare coins, with their highly appealing returns. Indeed, we have begun to witness the beginning of a powerful bull market.
If nothing else, owning one of these coins will make you feel rich and, if you hold on long enough, you could well turn out to be rich.
South Africa’s coin history is interwoven with the history of the country. With Portuguese, Dutch, British, French and even Eastern interests in the sea route around the Cape, many coins of foreign origin materialised. Thus, for example, the British guinea and pound long played the major role in South Africa’s early history.
When alluvial gold was discovered in Pilgrims Rest in 1873, some was used to mint coins for the Zuid Afrikaansche Republiek – a move initiated by President Thomas Francois Burgers. The first shipment of 695 Burgersponde – known as the “fine beard” variety – was despatched from London in 1874 and to date 24 such coins have been graded.
Coins that have been graded refers to coins that have been independently graded by the largest independent grading firms which additionally give clients peace of mind as to their authenticity and grade, and is beneficial to buyers, sellers and dealers.
In October 1874 a second batch of 142 pieces, comprising the rarer “coarse beard” variety, was dispatched. Only eight have been graded.
In 1891, the ZAR passed the Mint Act, which led to the Republic’s own coinage, based on the British coinage of the time:
· The Pound and Half Pound in gold;
· The Crown, Half Crown, Florin, Shilling, Sixpence and Tickey in silver; and The Penny, Half Penny and Quarter Penny in bronze.
Facing an upcoming election, President Kruger contracted to have the first issue of new ZAR coins (dated 1892) struck at the Imperial German Mint in Berlin – a mistake, as the dies were cut with two glaring mistakes that insulted the populace and embarrassed Kruger and the National Bank.
Designer Otto Schultz, following a common practice, placed his initials “OS” at the truncation of Kruger’s bust. Because “os” is Afrikaans for “ox”, new dies had to be hastily prepared, omitting the initials. More damaging was the incorrect depiction of the Voortrekker wagon.
In all, 16 000 one-pound pieces were struck. Just 12 to 15 proofs were coined, eight of which were graded, making them real numismatic rarities.
Kruger withdrew the embarrassing coins and replaced them with another issue of the same date – the 1892 Single Shaft Pond. The mintage is not known, though 119 have been graded thus far.
The single- and double-shaft images were also coined in the 1892 Half Pond, though the number produced is unrecorded. But where the single-shaft variety is rare in the 1892 Pond, in the case of the Half Pond it is unique. A paltry 10 double-shaft half ponds have been graded.
Consider also the Sammy Marks Tickey, which was authorised as legal tender by the President.
In 1898, Sammy Marks, a mining magnate, was granted the extraordinary privilege of using the state mint for a day. Marks struck 215 gold tickeys (three penny-pieces that were normally silver) as keepsakes for his relatives and friends, including President Kruger.
This rare coin is the same design as the Tickey of 1892-1897, but dated 1898 and struck only in 22 carat (92%) gold. The jewellers’ copies struck at the same time are also in 22 carat (92%) gold, but they can be identified by the lack of full stops in the Z.A.R. monogram at the top of the reverse.
Another rare coin is the Double 99 overstamp 1898 Pond. After the production of “The Single 9” it was decided the “9” stamped upon the bust of the coin was too large. A smaller punch stamped two smaller nines below Kruger’s bust; hence the birth of the Double Nine Overstamps.
Only 130 ponde were struck with the smaller punch, with the nine measuring about 1,1mm. Certain features are recognisable on all genuine coins, among them, in this case, the squarish shape of the nines and minute rifts and variations in the position of the nines below the bust.
They are a superb addition to any collection, with a mere 14 having been graded.
Because it was hand-made, the Veldpond is one of South Africa’s most unusual coins and among the world’s most beautiful. Each and every one is unique and individual. Only 106 have been graded to date.
The 1900 Blank Pond was another Anglo-Boer War creation. A cousin of the Veldpond, it was also used as money owing to the lack of regular coinage at the time.
When Pretoria fell to the British on 5 June 1900, the ZAR government withdrew to the Eastern Transvaal and continued to fight the British until the peace of Vereeniging in 1902.
To ameliorate the shortage of coins, blanks which had been removed from the ZAR mint were placed into circulation. Prior to any coins being minted, blanks were produced, prepared and stamped. Their rarity has made them extremely valuable.
The ZAR 1892 proof set is the ultimate. This 1892 series included some special sets of specimen coins struck in Berlin with polished dies from polished blanks. The sets, all containing features differentiating them from circulation coins, comprise nine coins each:
The ZAR 1892 proof set is the ultimate. This 1892 series included some special sets of specimen coins struck in Berlin with polished dies from polished blanks. The sets, all containing features differentiating them from circulation coins, comprise nine coins each:
· The Double Shaft gold pond, eight of which have been graded;
· The Double Shaft Half Pond (10 graded);
· The Double Shaft Five Shillings (21 graded);
· The 2 ½ Shillings (38 graded);
· The Two Shillings (38 graded);
· The One Shilling (39 graded);
· The Six Pence (37 graded);
· The Three Pence (32 graded); and
· The One Penny.
Most ZAR coins dated 1874-1902 have increased steeply in value, triggering keen international interest. Indeed, they are fast becoming some of the hottest performers in the world rare coin market.
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