Any collectors of SA Kruger Pond gold coins?

[goldmember44]

I'm curious for some opinions on a certain coin that I have just inherited, and that is on its way from South Africa to me.

It is a 1900 Zuid Afrikaansche Republiek 1 Pond coin, like this one:

But from what I can see, it might be in better quality... possibly mint state. It looks like it has a bit of a lustre. I think the best option is probably to get it graded by NGC, and see what grade it is assigned. I might be interested in selling it, and use the funds to add to my proof sovereign collection.

The 1900 coins apparently have the largest mintage (over 700,000), but allegedly most of the coins minted in that year were labelled 1892, and not 1900... and indeed, I cannot really find any 1900 one for sale on the internet, only the other years. They seem to be very scarce. Could be because 1900 was smack bang in the middle of the Boer War??

There are known forgeries too, which is why grading it is a good idea just to make sure.

[Realwealthuprising]

I am just waiting for the return from NGC of my 1892 1 pond double shaft. I like these coins because they have a very interesting story especially the double shaft. They say the coin almost brought down the government. It was minted outside of SA because the Pretoria mint was not completed so President Kruger contracted them to be minted in Berlin. Here the coins were accidentally minted with a european style wagon on the obverse which has two shafts as opposed to the the SA wagon which has one put on it.

Given the political situation at the time and the cultural significance of the wagon for the SA settlers it was considered a huge insult by the settler population and caused outrage. President Kruger panicked and tried to eliminate the coins from circulation replacing them with a single shaft pond (which coincidentally became even rarer). They are both single and double shaft very rare and in ms grades sell for £800-£2000 for the double and even higher for high grade single shafts.

The rarest is the single 9 Pond and also the very few 98/99 ponds in existence (£14000-30000). Also there is the 1893 1/2 pond single shaft that is very scarce in any grade and sells for very high prices. Even in very low grades beneath MS these can sell for £1000-2000 for better grades much more.

I don't think the 1900 commands a high premium as far as I know but its worth grading if its a nice condition. One thing to be aware of and look out for is any signs of mounting, many SA ponds were mounted in jewellery and come back with details grade as a result.

In terms of selling for some reason SA coins are not as popular here in the UK but they are highly regarded worldwide because of their history and significance to gold coinage been linked historically to the krugerrand. Perhaps a world coins coin auction is a better place to sell such a coin if it does grade well.

[xthomasx]

To me, this 1900 piece looks above average. 1900 is not a rare year, to the contrary. Along with 1892 and 1898 it is one of the more common.

There are nice Ponts around, but for higher grades expect to pay quite a premium. Most ponds, however, are heavily circulated and worn (or ex-mount, or heavily cleaned). Quite a percentage was also melted down, just as we see in many Sovereign years, which are rare despite a high mintage.

The censuses (censii?) for the full Ponds are here:

https://www.ngccoin.de/census/world/south-africa/sc-337/pond/

https://www.pcgs.com/pop/detail/pond-1874-1902/5196/0?t=5&pn=1

[Cornishfarmer]

Love the pond design.    A lot made into jewellery and more than fair share of fakes.    Never picked one up because don’t know enough about them to buy on eBay and they come up very rarely from dealers or on here

[goldmember44]

So, my parcel has arrived from South Africa. The coin looks splendid, I wouldn't guess it to be 120 years old! Not bad at all. I add a few pictures. Any thoughts on grading?

 

 

[goldmember44]

Very interestingly enough, the Royal Mint has now put Kruger Pond coins on sale, which is such a coincidence for me!  Mine is in for grading at the moment  These ones the RM are selling for £550 each are said to be of "very fine" condition... what is that, pretty much AU55 or so? I think mine is in slightly better condition than the ones on offer from RM... I am very curious what my grading will be.

Here is the RM offering:

https://www.royalmint.com/our-coins/ranges/historic-coins/commonwealth-and-world-coins/1892-1900-south-africa-gold-kruger-pond/

1892 - 1900 South Africa Gold Kruger Pond

• The coin that influenced the famous Krugerrand
• Based on The Sovereign – 7.99 grams of 22k Gold– 22mm in Diameter
• Fully certified by The Royal Mint
• In Very Fine condition
• Shipping within 7-14 days

£550.00

 

In the second half of the nineteenth century, demand for The Sovereign surged. Branch mints were established across the world to meet the increased demand with one of these branch mints located in Pretoria, South Africa. At the height of production in 1928 just over 18 million Sovereigns were struck there, each with the mint mark ‘SA’ to differentiate them from the equivalent coins struck back in London.

But the history of the gold coinage in South Africa didn’t begin with the branch mint at Pretoria. It was with the discovery of large deposits of gold in South Africa, known as the Witwatersrand gold Rush, in 1885 that the country would change forever from an agricultural economy to a world leader in gold production and the richest and most prosperous country in Africa.

Then in 1892, under the orders of the President of South Africa, Paul Kruger, the new national Mint in Pretoria was opened and a new coin was struck who’s influence is still felt around the world today. There was great debate at the time about what to base this new gold coin on, with Dutch and German members of the government preferring the Dutch guilder and the German mark, but it was eventually decided to base it on the most influential coin in the world at the time – the British Sovereign.

So the new gold coin, with a value of 1 pond was struck to the same specifications as the British Sovereign and was named the Kruger pond in honour of the President of South Africa and they would be struck there from 1892 until 1900. It was the end of the Second Boer War that would lead to the end of production and the short-lived closure of the Mint in Pretoria until a branch of the Royal Mint was opened.

Many years later in 1967, to help market South African bullion it was decided to issue a one ounce gold coin. When looking for an influence it was decided to re-connect with the Kruger gold pond and the now famous Krugerrand still bears the portrait of Paul Kruger on the obverse, just like those that were produced back in the 1890’s.

[Realwealthuprising]

@goldmember44 Thats really cool to see. I think most non UK or US coin markets are undervalued and appreciated  because they are not as visible but it seems like things are changing. If you have time to wait I think these other historic coin markets have a lot of room to catch up if investor demand increases.

[goldmember44]

1 hour ago, Realwealthuprising said:

@goldmember44 Thats really cool to see. I think most non UK or US coin markets are undervalued and appreciated  because they are not as visible but it seems like things are changing. If you have time to wait I think these other historic coin markets have a lot of room to catch up if investor demand increases.

Yes indeed, it might be a good idea to keep hold of this coin for a few years...

[goldmember44]

Update: I sent in the coin for grading to NGC, and unfortunately it came back as "not genuine"! However, thankfully it was real gold, only a restrike, so I was able to sell it for spot price at a dealer.

[Zhorro]

36 minutes ago, goldmember44 said:

Update: I sent in the coin for grading to NGC, and unfortunately it came back as "not genuine"! However, thankfully it was real gold, only a restrike, so I was able to sell it for spot price at a dealer.

Is this the coin in the 20th January picture?  In which case, I guess you were right about it not looking 120 years old!  But this is a useful warning.

[goldmember44]

1 minute ago, Zhorro said:

Is this the coin in the 20th January picture?  In which case, I guess you were right about it not looking 120 years old!  But this is a useful warning.

Yes indeed, that's the coin. It is known that the 1900 year has some fakes/restrikes that look very realistic, even better than the original (they used the same dies, which were stolen). The so-called "perfect fake". It's often hard to tell them apart, requiring professionals to take a look. 

Financially, there is a big difference. A genuine coin in this condition would be a lot more expensive than spot price.

[Zhorro]

4 hours ago, goldmember44 said:

Yes indeed, that's the coin. It is known that the 1900 year has some fakes/restrikes that look very realistic, even better than the original (they used the same dies, which were stolen). The so-called "perfect fake". It's often hard to tell them apart, requiring professionals to take a look. 

Financially, there is a big difference. A genuine coin in this condition would be a lot more expensive than spot price.

This web page discusses the 1900 "perfect fake":

https://krugerponds.com/1900-Kruger-Pond-Single-Shaft.html

One sign that it is a fake is the detail on the eagle on the top of the shield on the reverse.  The very first picture in this thread shows shows a genuine coin and there is very little detail on the eagle's chest.  Your coin shows quite a bit of detail on the eagle's chest. The article also talks about the reverse not being central in the die - though this is difficult to spot on your coin.

One would also assume that the metal signature (XRF) of the gold used in the genuine coin would differ from the gold used in the later fakes.

Anyway, I have just bought a 1900 Kruger Pond that I think is genuine - let's see what arrives!

 

[Zhorro]

On 02/08/2020 at 13:49, goldmember44 said:

It is known that the 1900 year has some fakes/restrikes that look very realistic, even better than the original (they used the same dies, which were stolen). The so-called "perfect fake". It's often hard to tell them apart, requiring professionals to take a look. 

Well, my 1900 Kruger Pond arrived this morning.  I think it is ok.  Even though it is in very good condition, there is not much detail on the eagle's chest and Kruger's head seems to have less detail than yours.  But I stand to be corrected.

[goldmember44]

6 minutes ago, Zhorro said:

Well, my 1900 Kruger Pond arrived this morning.  I think it is ok.  Even though it is in very good condition, there is not much detail on the eagle's chest and Kruger's head seems to have less detail than yours.  But I stand to be corrected.

Yes indeed! We can now recognise some of the subtle differences between the fake and the original. Yours looks genuine. Nice find You should get it graded, otherwise you'll always wonder about its value. The value is very grade-sensitive, and yours seems in a decent condition. I would also recommend NCS conservation...they do a really good job and you'll very likely increase its grade and value with that.

[Zhorro]

A nice little 1896 half Pond to go with the above 1900 one Pond.

[Prophecy]

Wish they spelt Pound correctly. 😉