Rare coins often realise more when sold through online auctions due to the simple fact that the target audience is larger and auctions are more accessible for serious investors and collectors. With this in mind we look at four incredibly rare South African coins that have sold for impressive amounts through US online auctions.
It is a generally well-accepted notion that rare coins often realise more when sold on auction. This could be attributed to the fact that the target audience is larger and online auctions are much more accessible to serious coin investors and collectors. Often, an NGC or PCGS graded coin will fetch a higher price than what is previously estimated, because there are a number of people simultaneously bidding on it. This is not to say that selling your coins through a certified dealer won’t get you the price you want, we’re simply pointing out a pattern of good ROI on your rare coins when they’re placed on an open online auction.
South African rare coins are no exception to this trend, and we decided to look at some of the top performing South African coins that have sold through online auctions, particularly in America.
The 1902 Veld Pond
One of the finest examples of this variety of coin, a MS64 NGC, sold for an incredible $54,600, even though it was only estimated at $25,000-$30,000. The Veld Ponds were struck towards the end of the Boer War as emergency issue tender at a time when physical money was scarce and gold was the only acceptable form of payment for supplies. Other examples of the 1902 Feld Pond have sold for between $3750 and $11,000.
The 1874 Burgers Pond Course Beard
The Burgers Ponds are famed for their low mintage and between the Course Beard and the Fine Beard variety, only 869 pieces were produced. Of these, only 142 are of the course beard variety, making these, in any condition, a particularly rare coin. On a recent auction, a fine example of this variety sold for over GBP 16,000 while two other graded Course Beard pieces fetched $9,200 and $8,050 respectively.
The 1874 Burgers Pond Fine Beard
An incredibly rare and exceptional example of this coin, a MS64 NGC was estimated at between $50,000 and $60,000 but when bidding closed it finally sold for a staggering $97,750. The Burgers Pond Fine Beard is a highly sought after collector’s coin and even those which show wear and evidence of use in jewellery can expect to get between $2,000 for a KM1 grade and $5,500 for a KM1.2 specimen. Fine examples of this coin have been known to fetch $8,000 and $14,000 respectively and an exceptional example of a XF45 NGC was sold in excess of $40,000.
1898 ‘99’ Overstamp
Another incredibly rare and hugely sought after coin, only 130 of these overstamps were produced. The story behind the 99 Overstamp is that during the Boer War, the dies for the 1899 Ponds were intercepted by the British in Lourenzo Marques. In order to mark the wartime opening of the mint, it was decided that the 1898 Ponds would be overstamped with a ‘99’. To give you an example of the potential of this coin, a KM10.2 specimen easily sold for $21,800 when it was put on auction.