Exceptionally rare 'date overstamped' South African coin leads London sale



2015-06-26 12:08:42

Exceptionally rare 'date overstamped' South African coin leads London sale

The gold coin will star in Dix Noonan Webb's last auction of the year, alongside an Elizabethan rarity...

As we've reported, Dix Noonan Webb is holding a major medals auction on December 1, led by the awards presented to a Vietnam War legend and a celebrated counter-insurgency leader who rose from the ranks of the SAS.

However, the auctioneer is not limiting itself to this, and is also closing out the year with a significant sale of rare coins: an impressive 1,073 lots in total.

One of the key lots dates from the reign of Elizabeth I. It is a sixth issue, fine Sovereign, which shows the Queen seated in full glory on her throne facing out, with the back and pillars of the throne decorated with pellets.

Despite some weakness on the face, the lot is otherwise good/very fine on a full round flan and very rare, hence it carries an estimate of 10,000-12,000. Elizabeth used silver coins for currency during her reign and a handful of these still exist including one which is currently available.

The two prize lots of the auction however are from much later, and a long way to the south of Elizabethan England.

A Paul Kruger Half-Pond dating from 1893 comes in its own NGC holder and is graded Around Uncirculated 53. In good/very fine condition, and very rare, it is listed at 25,000-30,000 (up to $48,000).

The expected top lot is a Paul Kruger Pond from 1898, with a '99' overstamp.

Paul Kruger Pond from 1898 with '99' printing Paul Kruger Pond from 1898 with '99' printing

The 1899 dies never arrived in Pretoria, so it was decided to overstamp 1898-dated Ponds. The first coin received a single '9' overstamp; mint officials thought subsequent coins would be better overstamped with '99' and 130 coins were thus produced.

Rated by the NGC as AU 58 (and this is thought to be a rare underrating in the opinion of Dix Noonan Webb), the coin is set to sell for 80,000-100,000 in the sale which takes place on December 9 in London.

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