Gold Coins of South Africa
Pierre H. Nortje (October 2024)
Introduction
For a large part of the 19th century, South Africa was divided into four entities, being the two British possessions of Natal and the Cape Colony, and the two sovereign states of the Orange Free State and Transvaal (officially named the Zuid-Afrikaansche Republiek). Only the last mentioned introduced their own coinage.
It is important to remind readers that in the early 1930s, most countries abandoned the so-called gold standard, a monetary system where a country's currency or paper money has a value directly linked to gold. This effectively ended gold coins being used as a circulating medium (currency). Since then gold coins were struck mainly for two purposes being “bullion” (physical gold storage) and collector/commemorative issues.
Gold Coins of the Zuid-Afrikaansche Republiek
In 1874, on request of Thomas Francois Burgers, the 4th president of the South African Republic, 837 so-called Burgersponde were struck by Messrs Heaton & Sons of the Birmingham Mint in England. Two varieties exist, being the so-called coarse and fine beard issues, indicating noticeable differences in the structure of the President’s beard.
For the following 18 years, no other coinage intended for circulation was struck for the Z.A.R. until 1892, when first in Berlin and then at the Pretoria Mint, a series of coins was produced carrying the effigy of Burgers’ successor Paul Kruger.
From left to right: Burgerspond 1874, Krugerpond (the famous “single 9”) and Veldpond 1902
Two denominations in gold were issued being half-ponde struck from 1892 to 1897, and the ponde struck from 1892 to 1900. The ponde of 1899 was struck with the figures “99” on issues of 1898 and a unique example is known with a single “9”. The 1892 ponde were struck with the ox wagon on the reverse showing either a single shaft or double shaft. A unique single-shaft half pond is recorded. Proof ponde and ½ ponde were struck in 1892 in Berlin, and are very scarce.
In 1900, unstruck gold ponde (called “kaalponde”) were saved by the Boers from the Mint in Pretoria before the British soldiers invaded the town. The coins were taken to the Eastern Transvaal (which was still in Boer hands) and issued to the commandos. Two varieties are known, one that shows a rim, and the other rimless. In 1902 less than 1000 gold ponde were struck by the Boers at a makeshift mint in the field. Called the Veldpond, this was the last gold coin struck in South Africa before the amalgamation of the four provinces into the Union of South Africa.
The rimless and rimmed blank ponde (“Kaalponde”)
Other gold coins were also struck during the 1890s, presumably all in the ZAR, but these were not intended as a circulation medium. The best example is the well-known Sammy Marks Tickey dated 1898. Gold Tickeys dated 1894 (2 or 3 examples known) and 1896 (presumed unique) are also recorded as well as a gold sixpence of 1897 and a gold half-crown of 1892. These issues, and others, are described in the author’s The Rarest of the Rare – Unique and very rare gold coins of the Zuid-Afrikaansche Republiek published in 2022.
Gold Tickeys of 1894, 1896, 1898 (Sammy Marks) and Sixpence of 1897
The Union of South Africa
The Union of South Africa was established on May 31, 1910, through the unification of the Cape, Natal, Transvaal, and Orange River colonies. Thirteen years later, in 1923, the first coins were struck for the united South Africa, consisting of the ¼d, ½d, 1d, 3d, 6d, 1/-, 2/-, 2/6, 5/-, 10/- and £1. The latter two were struck in gold as half and full sovereigns, undistinguishable from the British issues, bar a small mint-mark “SA” indicating the Pretoria Mint.
The half sovereigns (10/-) showing the effigy of King George V were struck in 1923, 1925 and 1926, the former as proof issues. The full sovereigns were struck uninterruptedly from 1923 to 1932, the former in both proof and non-proof condition. Both the non-proof issues of 1923 and the 1924 date are very rare. Hern records unique proofs struck in 1925 and 1929. From 1929 onwards, the head of the King was slightly smaller than earlier issues. These coins of King George V were the last gold coins struck for general circulation in South Africa. It must however be added that it is thought that the public mostly hoarded the coins as gold bullion than circulate them.
The Sovereign and Half Sovereign are, bar their size and weight, indistinguishable from each other as they carry no indication of a denomination.
In 1932, the last year of these sovereign issues, a decimal R10 Florin in gold was proposed when the issue of decimalization was raised in Parliament. A pattern, thought to be unique was struck, but Hern says it was minted in brass, not gold. Hern also mentions a gold 1-ounce coin struck as a pattern before 1941. In 1960, the Chamber of Mines issued a gold 1 Oz piece with the legends in either Afrikaans or English.
Some numismatists regard these pieces (medallions) as the forerunner of the Krugerrand.
In 1952 the South African mint started to strike gold 10/- and £1 pieces again showing the effigy of King George VI, and the next year that of Queen Elizabeth II. These were only struck as proofs up till 1958. In 1959 and 1960 (the last year of issue) they were struck in both proof and non-proof condition. Hern records that those struck in yellow gold are scarcer than the red variety. Pattern sovereigns were struck in 1950.
Unlike the issues of King George V, these issues of 1952 to 1960 did indeed show the denominations being either £1/2 or £1.
The Republic of South Africa
Over the last 10 to 15 years, the gold coins struck by the South African Mint in various series, are confusing to say the least. Some series seem to overlap, in others some coins were struck having the same size but have different denominations and sometimes it seems that the mintage numbers are unknown. In a certain year for instance, a commemorative series would have two different coins and the next year no coins are struck being resumed the following year - a totally confusing situation. Brian Hern, the compiler of Hern’s Handbook on South African Coins & Patterns must be congratulated for trying to make any sense of all of this.
The following is a short and superficial overview of the different series:
The Jan van Riebeeck R1 & R2 Issues
When South Africa became a Republic on 31 May 1961, the gold 10/- and £1 pieces of the previous year, were issued as R1 and R2 coins showing the effigy of Jan van Riebeeck on the obverse. This series was struck uninterruptedly from 1961 to 1983 as both proof and non-proofs, except in the last two years when only proofs were issued. Proof-like coins are also recorded and Hern says it is difficult to distinguish between them and proofs.
The Krugerrand
The one-ounce (1 OZ) Krugerrand was first minted on 3 July 1967 to help market South African gold as a vehicle for private ownership. In most years since then, Krugerrands were struck in both proof and non-proof condition. In 1980 the Mint started to issue fractural denominations of 1/10th, ¼ and ½ ounce coins. To these, 1/20th and 1/50th ounce Krugerrands were added in 2017.
From 1987 to 1991, 1/10th, ¼, ½ and 1 ounce Krugerrands were struck at the Gold Reef City Mint on the old “Oom Paul Press” on which the first Krugerrands in 1967 were also struck. These coins carry a small “GRC” mintmark. Since then many Krugerrands have been mint-marked and this offers a wide range of collectable coins in the series. However, some of these were only marketed and sold overseas, and are difficult to obtain by local collectors.
The Commemorative Gold Coin Series
Not to be confused with the gold Protea series, 1 Oz gold coins in this series were only struck in 1985 (Parliament 75 years) 1994 (Presidential Inauguration) 1995 (World Cup Rugby) 2010 (World Cup Soccer) and 2014 (20 Years of Democracy). The last 2 years carry a R200 denomination and the 2010 date was also struck in 1/10th and ¼ Oz versions.
The Gold Protea Series
This series, consisting of a 1/10th and 1 Oz coin was started in 1986 when the centenary of Johannesburg was celebrated. In 1988 three different coins were struck (commemorating Bartholomew Diaz, the French Huguenots and the Great Trek). In 1991 the Protea series was continued and ran until 2019. From 2002 the 1/10th Oz was issued as a R5 and the 1OZ as an R25 denomination. Some coins carry mintmarks.
The Natura Series
The first coins were struck in 1994 and since then issued as 1/10th, ¼, ½ and 1 ounce pieces. During the first 5 years, each consecutive year showed one of the “big five” animals, but from 1999, other animals were added. In 2002 coin values were displayed for the first time being 1/10th (R10), ¼ (R20) ½ (R50) and 1 ounce (R100). Some coins in certain years were also officially mint-marked with some being extremely scarce, i.e. the R100 Hyena of which only 41 coins carry the mark.
The Commemorative Big Cats Series
In 2016 the second of the South African 1/10th, ¼, ½ and 1 Oz 999.9 gold coin commemorative series was launched. Hern only records the first year (The Cheetah). It shows that the denominations differ from that of the Natura series being 1/10th (R20), ¼ (R50) ½ (R100) and 1 ounce (R200).
Picture left: Natura set (The Rhino). Picture right: The Big Cat series (Cheetah
The R1 1/10th Oz gold
The first coin was struck in 1997 commemorating the first heart transplant done by Dr. Chris Barnard in 1967. The last issue was struck in 2018. Some years are very scarce i.e. 2017 (The Puff Adder) with only 88 coins struck. In 2001 the name of the Sotho nation was wrongly spelt and later corrected resulting in two versions of the coin.
The R2 ¼ Oz gold
The first coin was struck in 1997 commemorating “Mrs. Ples” (Australopithecus Africanus). The last issue was struck in 2018. Some years are very scarce i.e. the two UNESCO issues of 2016 with only 8 and 11 coins struck respectively. No coins were struck in 2017.
The 1 OZ Big Five Series
From 2019 onwards a 1 OZ R50 denomination was struck with a ¼ Oz (also a R50) being added in 2021.
Other coins
In 2019 a Constitutional Court of South Africa R500 (1 Oz gold) was struck.
Summary
South African gold coins truly offer a wide range for both collectors and investors. Unfortunately, they are expensive as one would expect, but over the years, few people have regretted that they invested in gold, especially in a country like South Africa where the rand currency is constantly under pressure from the more stable world currencies like the Dollar and Pound. However, as we have said, the issuing of gold coins over the past decade or two by the South African Mint is confusing to say the least. Hopefully, some numismatist will step forward and write a well-researched and authoritative book on the subject.