UNIQUE KRUGER POND OF 1898

A Unique Kruger pond with a 9 overstamp has recently been sold for an estimated R 20 million. The coin has an interesting history.

In 1899 Kruger pond dies were seized by the British in Lourenço Marques during their occupation of Pretoria.
In the absence of these dies, the 1898 dies had to be reused.
In order to confirm the wartime re-opening of the mint, it was resolved to overstamp 1898 pounds with a 99 overstamp beneath Kruger’s bust.
The mint master had 130 of these 1898 pounds overstamped.
On 2 November 1899 the first coin was struck with a single 9 and it was resolved to use a smaller punch for the rest of the coins.
The single 9 pound also depicts an “M”on the obverse.

In 1899 this coin was presented by the ZAR government to Mr. C.E. Macrum, the American consul general in Pretoria. The pond was also in the collection of the late King Farouk who bought the coin in Paris.
In 1954 the coin was sold at a Sotheby auction as part of a lot for R650. Dr. Froelich of Port Elizabeth thereafter bought the coin for 655 Egyptian pounds.
In 1969 it was again sold by auction as part of the late Dr. Froelich’s collection for R2530.
During 1981 and 1983 it was sold by postal auction for R45 000 and R132 000 respectively.
In 1999 the centenary of the Boer War it was sold for R4,65 million and two years later for R9,8 million. A couple of months ago it was sold for an estimated R20 million.