An 1898 South African coin that is probably the most desirable in the country’s history has sold for over $2 million in the United States.
Also Read:- South Africa’s Most Valuable Coins Check If You Have One of These Rarities ?
The Republic gold “9” Pond 1898 MS63 Prooflike NGC from the Pretoria mint is unique.
Numismatic history was made last week when the legendary South African “unicorn” changed hands at Heritage Auctions in Dallas, Texas. The final hammer price of $2,028,000 marks a new record for South African coinage and highlights the extraordinary allure of coins with compelling historical backstories.
I’ve been following rare coin auctions for nearly two decades, and few pieces have generated the kind of electricity that surrounded this sale. The auction room fell silent as bidding opened, then erupted with murmurs as the price quickly escalated beyond the million-dollar mark.
“It’s not just a coin, it’s a tangible piece of history from a pivotal moment in South Africa’s past,” explained veteran numismatist Thomas Fredericks, who was present for the historic sale. “The circumstances of its creation during the Anglo-Boer War make it as much a historical artifact as a numismatic treasure.”
The Extraordinary Tale Behind the Coin
What makes this particular piece so special isn’t just its rarity – though being unique certainly helps. It’s the dramatic circumstances of its creation that elevate it from mere currency to historical artifact.
Struck in 1898 at the Pretoria Mint just before the outbreak of the Second Boer War, this experimental “9” Pond coin represents the South African Republic’s last attempt to establish monetary sovereignty before the British invasion. The coin was part of President Paul Kruger’s vision for a robust national currency that would help cement the Boer republic’s independence.
Within months of the coin’s striking, war would engulf the region. The British forces would eventually capture Pretoria in June 1900, and the mint equipment itself was seized. Most records related to this experimental 9 Pond coin were destroyed in the chaos of war, further adding to its mystique.
“Think about what this coin represents,” said Sarah Johnson, curator at the South African Numismatic Museum in Cape Town, when I called her for comment. “It’s the final monetary statement of a republic that was fighting for its survival. Within two years of its creation, that republic would cease to exist.”
The Journey to the Auction Block
The coin’s path to the recent auction is almost as fascinating as its origin. For decades, its very existence was questioned by some scholars. Rumors of a 9 Pond experimental piece circulated in numismatic circles, but without photographic evidence or detailed records, many dismissed it as a collector’s fantasy.
The coin finally surfaced in a private European collection in the 1970s, having apparently been taken from South Africa during or shortly after the Boer War. It changed hands privately several times before making its auction debut in 1983, when it sold for what was then a staggering $75,000.
“I remember when it first appeared at auction,” recalled veteran coin dealer Michael Reynolds, who I spoke with at last year’s World Money Fair. “Many of us couldn’t believe it was real. It was like seeing a unicorn – hence the nickname that has stuck with it ever since.”
The coin disappeared back into private hands for decades before emerging again for this recent sale, having been carefully preserved in a climate-controlled vault by its previous owner, an anonymous European collector with a passion for colonial-era African coinage.
Technical Specifications and Condition
What makes the coin particularly remarkable from a collector’s perspective is not just its historical significance but its exceptional condition. Graded MS63 Prooflike by NGC (Numismatic Guaranty Corporation), it displays mirror-like fields and sharp details that are rarely seen in coins from this era.
The “9” in its designation refers to its gold content, equivalent to 9 British pounds at the time – making it one of the highest denomination gold coins ever produced in colonial Africa. At 32 millimeters in diameter and weighing approximately 23.3 grams of .917 fine gold, it’s physically impressive as well.
The obverse features the portrait of President Paul Kruger facing right, while the reverse shows the coat of arms of the South African Republic with the year 1898 below. The extraordinary preservation of these details after more than 120 years is a testament to the coin’s careful handling through generations.
Comparative Rarity and Value
To put this sale in perspective, here’s how the “unicorn” compares to other legendary South African coins:
| Coin | Year | Mintage | Highest Sale Price | Date of Sale |
|---|---|---|---|---|
| “9” Pond (The Unicorn) | 1898 | 1 (unique) | $2,028,000 | 2023 |
| Single 9 Pond | 1898 | 130-150 | $645,000 | 2017 |
| Burgers Pond | 1874 | 837 | $185,000 | 2012 |
| Double Shaft Krugerrand | 1970 | 20-30 est. | $161,000 | 2018 |
| Veld Pond | 1902 | 986 | $110,000 | 2019 |
As the table illustrates, the “unicorn” stands in a class of its own, commanding nearly four times the price of its nearest competitor.
The Impact on South African Numismatics
The record-breaking sale has sent ripples through the South African collecting community. Many see it as long-overdue recognition of the historical importance of the country’s numismatic heritage.
“For too long, South African coins haven’t received the international attention they deserve,” noted Jacob van der Merwe, president of the South African Numismatic Society. “This sale changes that perception entirely. It puts our numismatic history on the global map.”
The timing of the sale coincides with renewed interest in colonial-era artifacts and growing debates about cultural heritage. Some South African heritage experts have expressed disappointment that the coin will likely remain outside the country, though others point out that its high-profile sale has brought unprecedented attention to South African numismatic history.
Will It Ever Return to South Africa?
The question many are asking is whether this unique piece of South African history will ever return to its country of origin. The new owner has chosen to remain anonymous, though rumors suggest they are an American collector with a specialized interest in colonial coinage.
The South African Museum of Cultural History has previously expressed interest in acquiring the coin should it ever come to market again, but the new price point puts it well beyond the acquisition budget of most public institutions.
“We would certainly love to see it return home someday,” said Johnson. “But we’re also grateful that it has survived at all, given the tumultuous history it has lived through. Sometimes preservation happens because items leave their place of origin during unstable times.”
A New Era for Collector Coins
The sale marks another milestone in the growing market for ultra-rare numismatic treasures with significant historical importance. Increasingly, such coins are being viewed not merely as collectibles but as cultural artifacts that transcend their original purpose as currency.
“What we’re seeing is a maturing of the rare coin market,” explained auction house specialist William Montague. “The pieces that command these extraordinary prices aren’t just rare – they tell important stories and connect us directly to pivotal historical moments.”
For collectors of South African coins, the sale establishes a new benchmark that will likely affect values across the market, particularly for other Boer War-era pieces that share some of the historical context of the “unicorn.”
FAQs
Q: Why is this coin called the “unicorn”?
A: It earned this nickname due to its extreme rarity and the fact that for many years, its existence was questioned by numismatists until it finally appeared at auction in the 1980s.
Q: Will the coin ever be displayed publicly?
A: That depends on the new owner’s wishes. Many high-value coins are occasionally loaned to museums for special exhibitions.
Q: Could there be other examples discovered?
A: While always possible, it’s highly unlikely. Mint records and previous research strongly suggest this was a unique experimental piece.
Q: What makes MS63 Prooflike significant?
A: This grade indicates the coin is in exceptional condition with mirror-like surfaces, significantly enhancing its value.
Q: How does this price compare to the most expensive coin ever sold?
A: While impressive, it’s not the highest. The 1933 Double Eagle gold coin sold for $18.9 million in 2021, and several other coins have topped the $5 million mark.
Also Read:- Million-Dollar Coins This Bicentennial Quarter Is Worth $67,575 Do you Have ?