Why The 1898 Single 9 Pond Coin Is South Africa’s R20 Million Gold Rarity
The 1898 Single 9 Pond stands as South Africa’s most coveted and valuable gold coin, often referred to as the “King of South African Coins.”
This unique coin, with its rich historical background and singular existence, has captivated collectors worldwide. In 2010, it fetched over R20 million, underscoring its significance in the numismatic world.
Historical Context: The Anglo-Boer War and Coinage Challenges
During the Second Anglo-Boer War (1899–1902), the South African Republic (Zuid-Afrikaansche Republiek or ZAR) faced immense challenges, including the need to assert its sovereignty through currency.
President Paul Kruger ordered the minting of new coins dated 1899. However, the dies ordered from Germany were intercepted by British forces, compelling the ZAR to improvise.
Utilizing existing 1898 dies, the mint attempted to denote the new year by punching a single large “9” onto the obverse.
This modification encroached upon Kruger’s bust, leading to the realization that the design was unsuitable. Consequently, only one such coin was produced—the Single 9 Pond. Subsequent coins bore two smaller nines and were termed “Double 99” coins.
Unique Features of the 1898 Single 9 Pond
- Uniqueness: Only one coin was ever minted with the single large “9”.
- Design: Features the standard 1898 obverse with Kruger’s portrait, marred by the oversized “9”.
- Historical Significance: Symbolizes the ZAR’s determination to maintain sovereignty amidst adversity.
- Provenance: Initially presented to U.S. Consul General C.E. Macrum as a diplomatic gesture. Macrum engraved a small “M” on the coin to mark his ownership.
Journey Through Time: Ownership and Sales
After its presentation to Macrum, the coin’s whereabouts remained unknown until 1954, when it surfaced in the “Palace Collections of Egypt” auction, having been part of King Farouk’s collection. It was purchased by Dr. Froelich of Port Elizabeth, South Africa.
Over the decades, the coin changed hands multiple times:
- 1969: Sold for R2,530.
- 1983: Fetched R132,000.
- 1999: Privately sold for R4.65 million.
- 2001: Changed ownership for R9.8 million.
- 2010: Achieved a record-breaking sale of over R20 million.
In 2025, the coin was auctioned again, fetching approximately $2.16 million, reaffirming its status as one of the world’s most valuable coins.
Technical Specifications
| Attribute | Details |
|---|---|
| Year of Issue | 1898 (Modified in 1899) |
| Country | South African Republic (ZAR) |
| Denomination | 1 Pond (Equivalent to 1 Pound) |
| Metal Composition | 22-carat gold (91.67% purity) |
| Weight | 7.98 grams |
| Diameter | 22.05 mm |
| Obverse Design | Portrait of President Paul Kruger |
| Reverse Design | ZAR Coat of Arms |
| Unique Markings | Single large “9” punched on obverse |
| Mint | Pretoria Mint |
| Grading | MS63 Prooflike by NGC |
Significance in Numismatics
The 1898 Single 9 Pond is not just a coin; it’s a testament to a nation’s resilience and determination. Its unique creation story, combined with its singular existence, makes it a centerpiece in any numismatic collection.
The coin’s journey—from a symbol of sovereignty to a prized collector’s item—highlights the profound narratives that coins can embody.
The 1898 Single 9 Pond encapsulates a pivotal moment in South African history, representing both political defiance and numismatic rarity.
Its unparalleled uniqueness and rich backstory have cemented its place as a treasure in the world of coin collecting.
As it continues to captivate collectors and historians alike, the 1898 Single 9 Pond remains a shining emblem of South Africa’s rich heritage.
FAQs
Why is the Single 9 Pond so valuable?
Its value stems from its uniqueness—only one was ever minted. Combined with its historical significance during the Anglo-Boer War and its journey through notable collections, it holds immense numismatic value.
What distinguishes the Single 9 Pond from the Double 99 coins?
The Single 9 Pond features a single large “9” punched onto the obverse, while the Double 99 coins have two smaller nines. The Single 9’s design was deemed unsuitable, leading to its singular production.
Where can one view the Single 9 Pond today?
The coin is currently held in a private collection. However, it occasionally appears in major auctions and exhibitions, offering opportunities for public viewing.