VELDPOND BOER WAR SIEGE ISSUE

The issue of siege coins has been recorded on more than 130 occasions. These makeshift coins include silver and even gold pieces crudely cut from confiscated plate and stamped with an impression of value, usually bearing the civic arms. "Siege"is derived from the Latin word "obsidium" and is used to describe coins produced by the defenders of besieged towns. The first record of this practise comes from the Siege of Tyre during the first crusade in 1122 when stamped pieces of leather were used as money. At Faenza (1240) and Leiden (1573-74) leather coins were also issued when the bindings of hymn books were circulated. The first metal pieces were uniface lead coins produced in Saint-Omen in 1477. This custom was not confined to Europe. Paper notes were produced during the siege of Khartoum in 1885 and also during the Boer War at Mafiking in 1900.

Towards the end of 1901,the British forces were spread over the Boer republics. The Boers, now on the losing side fought a hopeless battle. The Z.A.R. government was already in the field with its forces and cut off from all supplies. There was a critical shortage of coinage. Money was urgently needed by the Boer forces to buy provisions such as maize and wheat from the black tribes. Paper money was unacceptable to the blacks. To make matters worse, almost the entire supply of paper money had been lost in an earlier skirmish with the British.

Due to the acute shortage of coinage and the urgent need to purchase provisions, a mint was established in the field at Pilgrim`s Rest, situated in the centre of the then known alluvial goldfields. It had been out of operation for some time and gold panning was re-established. There were several deserted mining workshops with machinery from which the required minting equipment could be contrived. A Mint Commission was appointed with P.J. Kloppers, an ex teacher as head of the state mint in the field. Permission was obtained from the government of the republic to proceed with its operations.
a Hand press was improvised and discs of almost 24 carat gold manufactured. To give the coins a professional appearance flat discs with a milled edge were used. The coins were struck from hand-made dies. Two steel cylinders were heated and then cooled slowly to soften the steel. "Z.A.R. 1902" was engraved on the obverse and "EEN POND" on the reverse with a small chisel. The dies had to be reheated and cooled rapidly to harden them so that the wording could be impressed onto the gold blanks. The dies cracked on several occasions while being cooled. The seventh attempt at hardening was so successful that the dies could be used repeatedly without showing any signs of wear. The milled edge was created by filing neat grooves on the inside of a small ring. This was then also heated and rapidly cooled to harden and then attached to one of the cylinders.
For this homemade mint, flat discs were punched out of gold sheeting, then laid on the bottom die inside the ring. The gold blank was then pressed between the top and bottom dies by the hand press. The pressure on the blank was enough to force it into the grooves of the ring and the depressions of the chiseled letters of the coinage dies.
With the aid of a smelting furnace obtained from an old mine the gold was refined to almost 100 per cent purity. The gold value of the veldpond was hence slightly higher than that of the British sovereign.
Counterfeits of the field pounds exist. Forgeries were made as early as 1903. Coin weights are known to vary from 7,544 to 8,508 grams. The weight and the number of flutes around the coin`s edge are not always conclusive evidence, for the mass varied and the number of grooves in the milling also varied between 72 and 79. The shape and breadth of the letters and figures as well as the spacing give some clue. It takes an expert eye to spot fakes.
Only 986 coins were struck. They are extremely rare.

GRIQUAS DOVE MONEY

Griquatown is located in the Northern Cape Province, approximately 120 kilometers west of the chief town Kimberley. It occupies an area 50 000 sq. km. It is situated north of the Orange River and west of Orange Free State province. It is a semi-desert country, noted for its diamond fields.

The Griquas or "basters" originated from a mixture of slave, Hottentot and European blood. They were not permitted to mingle with the white society in the Cape and eventually settled in the area south of the Orange River. In 1803, persuaded by missionaries they settled at Klaarwater, north of the Orange River, near the present day Kimberley. They were good hunters and drove the Bushmen and other tribes from the area. At Klaarwater they focused on farming and barter, exchanging their ivory, skins and ostrich feathers for articles such as sugar, coffee and ammunition.
At the same time European traders begin to move deeper into the interior beyond the borders of the Cape of Good Hope Colony.

In 1812 Klaarwater's name was changed to Griquatown and "baster" was replaced by Griqua. This was done on recommendation by the Rev. John Campbell of the London Missionary Society. He also suggested the implementation of a coin system to promoting the trade of the community.

Dove money were issued by the London Missionary Society and denominated on the British system.

The following undated denominations of dove money were struck in 1815 and 1816 at Birmingham:

10 pence silver
5 pence silver portrayed as "11111"
Half penny copper
Quarter penny copper

The word "Griqua" appears in a semi-circle above the figures and at the bottom of the circle the word "Town". All the coins portray the dove of peace with an olive branch in its beak on the reverse.

 Pattern coins

In 1890 two pattern types of dove money were struck by Otto Nolte & Co. in Berlin for advertising purposes. On the obverse of the penny appears the "young head" of Queen Victoria, the same legend as the Cape of Good Hope pattern penny. The reverse depicts the dove of peace bearing an olive branch, the emblem of the London Missionary Society.

There are two variations:

The smooth edge bronze penny is dated 1890 with "Griqua Town" above the dove and 3 small stars on either side. The diameter is 1.22, thickness 0.085 and weight 165.75 g.

The undated bronze penny with the word "Griqua" above the dove and below it "town". On either side of the dove is a small star. Details are the same as above with the exception of the weight which is 162.25 g.

The following dove money patterns also exist:

10 pence copper
5 pence copper
Half penny lead and a variation with the “½” in thick figures.   

Quarter penny lead

The following patterns have been recorded and are probably unique.

¼ penny copper gilt, diam. 1.04

¼ penny copper gilt, diam. 0.89

1 penny struck in nickel

The Griqua dove money had a short and limited circulation in Griqualand West. The entire Griqua population consisted of approximately 1260 people. They had no idea of metallic coin or a metallic standard. The extent of their trade with the Colony was a mere 50 pounds a year. The experiment was not a success and the coins were withdrawn. They are extremely rare today.

MAUNDY MONEY OF BRITAIN

Maundy is the religious ceremony of washing the feet of the poor and so commemorating Jesus Christ`s act of washing the feet of his disciples. On Maundy Holy Thursday the day before Good Friday, Christ washed the feet of his disciples and ordered them to follow his example. Pious Christians memorialized this event and it became a custom for kings, clergymen and nobles to observe this day by washing the feet of beggars and the poor and also provide them with food, clothes and money.

The issue has consisted of silver 1,2,3 and 4 penny pieces since the reign of Charles 11. However, the first English king who observed this colorful custom, is believed to have been King Edward who reigned early in the 14 th century.

These small silver coins are a special ceremonial issue, struck each year for use at the traditional ceremony on Maundy Thursday. On this occasion the reigning monarch or a representative distributes these coins to a selected group of elderly women and men. The amount distributed to each person ( in pence ) is equal to the present age of the monarch.

As time passes more details were omitted from the ceremony. When George V presented the maundy money in person in 1923, he was the first king to do so in well over 200 years. Consequently at the coronation of Elizabeth 11 in 1953 when she turned 27, she presented 27 women and 27 men each 27 pence in maundy money.
The word "maundy" derives its name from the Latin mandatum, which means a mandate or command.

Separate sets are issued by the royal mint for collectors.

The very small crowned silver one and a half pence's are sometimes mistaken for maundy coins. They are not English coins but were issued specially for circulation in Jamaica and Ceylon, now Sri Lanka.

From the reign of William until 1944 during the reign of George v1, silver threepence's were struck for currency. Until 1927 they were identical in design to the maundy threepence's.

The maundy coins are sharper strikes and almost proof like in appearance.

Although the 1836-37 William four pence's are from the homeland type, they were struck for British Guiana. The Victorian young head four pence's were introduced for circulation in both Great Britain and British Guiana.

The 1888 jubilee head 4 pence was exclusively produced for use in British Guiana and the West Indies.

MOTHER THERESA THALERS OR DOLLARS

These silver thalers first issued in 1780 are among the most famous coins in the world. This unofficial trade dollar, portraying the Empress Theresa with the date frozen at 1780 (the year of her death) has been struck intermittently since 1781 to modern times at many world mints.
It has been used far beyond the borders of Austria in many areas that lacked a firm local coinage. This coin was the recognized currency in the Middle East and in a number of African countries. The Austrian Republic continued to issue the Mother Theresa thalers long after the abdication of the last Hapsburg emperor. All the thalers have been dated 1780 regardless of the year they were minted. Some scholars can discern minute differences so accurately that they can readily determine the period of any thaler. They are fairly common and are often incorporated in jewelry.
The original thalers were struck at the Gunzburg mint.

Since then thalers have been struck at the following mints:

• Vienna until 1956 and thereafter, mainly to satisfy the demand from Arabian countries.


• Milan and Venice - 19th century


• Rome 1935-39 - For use in Ethiopia after Italy`s conquest in the 1930`s.


• Florence - 1935-39


• Paris -1935-57


• London - 1936-61


• Birmingham - 1949-55


• Brussels - 1937-57


• Bombay - 1940-41


• Prague until 1975

• Leningrad until 1975

An estimated 800 million were struck to date.

Mother Theresa Proof Thaler

BENEFITS OF COIN GRADING AND ENCAPSULATING SERVICES

Coin grading is the process of determining the state of preservation and general wear of a coin as well as to establishing the market value of the coin. In the United States coins are graded by a number of commercial bodies made up of experts and are then encapsulated in plastic holders. As recently as a few decades ago the coin market was limited to a small group of collectors. The pricing system at that time was much more elementary than today. The shift in emphasis from collecting to investing has created new markets and demands for coins, resulting in more stringent and comprehensive grading methods. Coin grading was introduced mainly due to the inconsistency in prices and the need to standardize.
Over grading of coins by dishonest or unqualified dealers remains a dilemma. Extreme caution is advised for anyone considering an investment in rare coins. Seek professional non-biased help with grading determinations. Standard grading methods are used by grading services ensuring an accurate and fair assessment. The authenticity of coins regarding their general condition can readily be determined. Adjustments in dates, mint marks, alterations, and even coins that had been cleaned in the distant past can easily be detected. They also assist in detecting small flaws in coins which can have a major effect on the value of that coin.
Be aware to check the credibility of the grading service. They should be consistent and accurate, following the strict guidelines as set out by the American Numismatic Association.

Benefits of encapsulating coins:

Counterfeits are virtually eliminated.
Coins are priced accurately and fairly.
Coins are sealed in airtight plastic capsules preventing environmental damage.
Ensures authenticity.
Tamper proof.
The quality of the coin is guaranteed.
Provide unique identification.
Cased in chemically inert plastic capsules.

The only disadvantage is that it removes the joy of ever being able to handle the coin.
 

APPRAISEMENT AND CLASSIFICATION OF COINS ACCORDING TO GRADE AND CONDITION

Grading is the process of assigning the proper label to a given coin. The ability to appraise a coin accurately comes only with years of experience. The market value of a coin is considerably affected by the "wear and tear" on its surface. Proof coins must have mirror-like surfaces without blemishes. There must be no visible signs of wear or handling on uncirculated coins even when using 30 times magnification. Bag marks may be present. By checking the difference of the light reflected in the high points to the other parts of the coin, an “almost uncirculated” coin is separated from the mint state coins. There will be about 95% of the original detail visible on extremely fine coins with slight wear only visible on the highest points of the coin. Very fine coins will have about 75% of the original detail visible and moderate wear on the detail over the entire coin. There will be about 50% of the original detail visible on fine coins with moderately to heavy wear, but the design still intact. About 25% of the original detail will be visible on very good coins with heavy wear over all the detail and design. In good condition some of the larger detail may still be visible with the design clearly outlined but with very heavy wear. Basal state coins have suffered actual damage, such as piercing or clipping with no detail visible on the entire coin.

The American Numismatic Association has devised a scientific and objective system to give a more precise classification to coins as shown below:

Encapsulating or slabbed coins in sealed folders:
Proof-70 Perfect proof
Proof-67 Gem proof
Proof-65 Choice proof
Proof-63 Select proof
Proof-60 Proof

Uncirculated coins are graded by mint state:

MS-70 Perfect
MS-67 Gem
MS-65 Choice
MS-63 Select
MS-60 Uncirculated

Lower grades:

AU-50 About uncirculated
EF-45 Choice extremely fine
EF-40 Extremely fine
VF-30 Choice very fine
VF-20 Very Fine
F-  12 Fine
VG- 8 Very good
G-  4 Good
AG- About Good
BS-1 Basal state

SOUTH AFRICAN KRUGER RANDS

South African Krugerrands are legal tender coins with no fixed value. It was first minted in 1967 and it was the first coin to contain one full ounce of fine gold. During 1967-1969 superior quality specimens exhibiting proof-like surfaces were struck. In addition the following varieties are known:

1967 - Proof Krugerrands with no frosting on the design - head and springbuck
1968 - Proof Krugerrands with frosting only on the Springbuck.
1968 - Frosted Krugerrands - frosting on both the head and the springbuck.
1969 - Proof Krugerrands - from this date frosting on both the head and the springbuck.

Only 1044 of the matt bust type were minted in 1968 and only sixty each of the half, quarter and tenth of and ounce proof Krugerrands were struck in 1980.
The South African Krugerrand is minted in many content levels of bullion including one ounce, one half ounce, one quarter ounce and one tenth ounce.
From 1986 sets of Proof Krugerrands  consisting of  one ounce, half ounce, quarter ounce and one tenth ounce have been made available in stinkwood cases.
Since 1987 a full range of Krugerrands bearing the G.R.C. ( Gold Reef City ) mint mark has been struck in limited quantities.
On the obverse of the Krugerrand is the bust of President Paul Kruger. Otto Schultz designed it in 1892 for the Zuid-Afrikaanche Republiek. On the reverse is Coert Steynberg's springbuck design which is also a national symbol of South Africa.
 Today, it is the most widely known bullion coin and the most widely owned enjoying 90% of the market in 1980. People are willing to pay a premium for the privilege of owning gold they may legally hoard.  According to refinery records, 46 million ounces of these gold bullion coins have been sold through 2008. The South African Krugerrand continues to enjoy a popularity that is above and beyond other bullion coins produced in other countries. It is the most widely recognized, the most widely purchased and the most widely sought after.