Lot 916
South Africa. Sovereign, 1923-SA (Pretoria Mint). S-4004. Fr-5. KM-21. George V, 1910-1936. Bare head left. Reverse: St. George and Dragon, S.A. on groundline; date below. A couple of trivial, light contact marks here and there. Otherwise, lustrous and pristine. With fine, old reddish toning. One of the rarest sovereigns of the 20th century. The mintage was a reported 64 pieces. NGC graded MS-66.
This very coin marks the start of the famed South Africa gold coinage and it was created at an interesting moment in time. Three decades earlier, British military campaigns during the Zulu War of 1879 made history, notably the remarkable defense of Rorke's Drift. Once the native tribes had been put down, white settlers began to change the territory, and the diamond-mining firm of deBeers attempted to plumb South Africa's recently discovered deep-mine gold reserves. By 1925 the ore was coming from the mines by the ton. Two years before, in 1923, it had been a trickle of gold dust. The first sovereigns struck from it were coined in tiny numbers.
Some 15 years ago, the cataloguer, who was Dr Terner's guide in building his collection, had an opportunity to purchase two very special coins. They had just been brought to London by a descendant of the deputy mintmaster of the Bombay Mint (1918-1919), Raoul Kaman, who in the early 1920s was also overseer of the construction of the Rand Refinery at Germiston, South Africa, and had been given the first four sovereigns struck at the new mint at Pretoria by the chief coiner. All four were Uncirculated, needless to say, having been saved from the day they were minted. Two were especially fine, and these were purchased for Dr Terner. One appeared in his previous sale, graded MS65 by PCGS. It realized $6,900. This piece is even finer, if only by a smidgeon. It is Superb in every way! It has perfect deep-gold color. Its surfaces are so "fresh" and pure that one can imagine the mintmaster removing this coin from the dies, using white gloves, and carefully wrapping it in diamond-paper to save it for posterity -- an inspiring provenance that few coins can claim.
Estimated Value $10,000 - 12,000.
Ex Dr. Terner Collection.
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| Realized $27,600 |
