The 1902 Veld Pond

Introduction:
The 1902 gold Veldpond (XF example displayed below) also known as the "Pilgrim's Rest Coin" is a remarkable coin struck by the boers on the run from the overwhelming British forces on a makeshift mint set up in the veld (long grass) in the remote region of Pilgrims Rest in the north eastern Transvaal (now known as Mpumalanga).

The coin, about the size of a sovereign, precedes the first World War German East African pieces (notes and coin) and the "Tabora Pound" which were struck under similar circumstances following invasion by the British Colonial forces and their allies. For many numismatists the Veld Pond is the holy grail of South African coins because of its remarkable history.

Soft hand-cut dies and an improvised flypress were used to strike about 530 coins in gold with an intrinsic value of 22 shillings. Only a single set of hand carved dies were used - thus the simple design and the poor quality of the resulting letters on the coin minted. The dies were kept under lock and key so the official mintage figures are deemed to be accurate.

Veld Pond's today sell for over US$20,000 and many counterfeit varieties exist - so be careful when looking at acquiring one of these pieces. (In 1996 Veld Pond's in similar condition sold for about 15% of the prices realised today