Why the 1898 Single 9 Pond Is Worth Millions – A Collector’s Dream Coin
In the realm of numismatics, few coins have achieved the legendary status of the 1898 Single 9 Pond.
This unique South African gold coin, minted during a tumultuous period in the nation’s history, has become a coveted treasure among collectors, fetching prices upwards of $4 million in private sales.
Its rarity, historical significance, and the intrigue surrounding its creation contribute to its esteemed position in the world of rare coins.
Historical Context: The Birth of the Single 9 Pond
The Second Anglo-Boer War (1899–1902) was a defining conflict between the British Empire and the Boer republics, including the South African Republic (Zuid-Afrikaansche Republiek – ZAR).
Amidst the war, the ZAR faced challenges in asserting its sovereignty, one of which was the production of its own currency.
In 1899, the ZAR ordered new coin dies from Germany to mint coins dated for that year. However, the British intercepted these dies, leaving the ZAR without the means to produce new coinage.
In response, the mint in Pretoria decided to repurpose the existing 1898 dies by overstamping them with a single large numeral “9” to signify the year 1899.
Upon striking the first coin, it became evident that the oversized “9” encroached upon President Paul Kruger’s bust on the obverse side, leading to aesthetic concerns.
Consequently, only one such coin was produced, aptly named the “Single 9” Pond. Subsequent coins were stamped with two smaller nines, known as the “Double 99” Ponds.
Unique Features of the Single 9 Pond
- Composition: 22-carat gold
- Weight: Approximately 7.98 grams
- Obverse Design: Portrait of President Paul Kruger with an overstamped large “9”
- Reverse Design: ZAR coat of arms
- Mint: Pretoria Mint
- Year of Issue: 1899 (overstamped on 1898 die)
- Mintage: 1 (unique)
Provenance and Ownership History
The Single 9 Pond’s journey through history is as remarkable as its creation:
- 1899: Presented to C.E. Macrum, the United States Consul General in Pretoria, as a diplomatic gesture asserting the ZAR’s independence.
- 1954: Resurfaced in the “Palace Collections of Egypt”, belonging to King Farouk. Following his abdication, the coin was auctioned in Cairo.
- 1969: Sold at an auction for R2,530.
- 1983: Changed hands for R132,000.
- 1999: Privately sold for R4.65 million.
- 2001: Another private sale at R9.8 million.
- 2010: Acquired by a private collector for over R20 million (approximately $4 million at the time).
Comparative Table: Single 9 Pond vs. Other Rare Coins
| Coin | Country | Year | Mintage | Estimated Value | Notable Features |
|---|---|---|---|---|---|
| Single 9 Pond | South Africa | 1899 | 1 | $4 million | Unique overstamped “9” on Kruger’s bust |
| 1933 Double Eagle | USA | 1933 | 13 known | $7.6 million | Last gold coin minted before Gold Recall |
| 1794 Flowing Hair Dollar | USA | 1794 | ~1,758 | $10 million | First silver dollar issued by the U.S. |
| 1913 Liberty Head Nickel | USA | 1913 | 5 | $4.5 million | Unauthorized minting, extremely rare |
| 1787 Brasher Doubloon | USA | 1787 | 7 known | $9.36 million | First gold coin minted for the U.S. |
Significance in Numismatics
The Single 9 Pond is often referred to as the “King of South African Coins”. Its uniqueness, coupled with its historical context, makes it a pinnacle of South African numismatics.
Collectors and historians alike value the coin not only for its rarity but also for the story it tells of a nation’s struggle for sovereignty and identity.
The 1898 Single 9 Pond stands as a testament to a pivotal moment in South African history. Its creation under duress, singular existence, and the journey through various hands over the decades have cemented its status as a numismatic legend.
For collectors, it represents the ultimate acquisition; for historians, a tangible link to the past; and for the nation, a symbol of resilience and identity.
FAQs
Why is the Single 9 Pond so valuable?
Its value stems from its uniqueness, historical significance, and the demand among collectors. Being the only coin of its kind, it represents a tangible piece of South African history.
Are there replicas of the Single 9 Pond?
Yes, there are commemorative replicas, such as the Solomon Islands’ 10 Dollar coin, which pays homage to the Single 9 Pond. However, these are modern issues and not to be confused with the original.
Where is the Single 9 Pond now?
As of the last known sale in 2010, the coin is held in a private collection. Its exact location remains undisclosed to the public.