1965 South Africa gold 1R
Jcld
Posts: 449 ✭✭✭
Hi all. I am a total nube with world coins, but I recently found a bunch of them in a hoard that I inherited. I was wondering what all of you thought of this coin. Any idea of its value?
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The gold 1 Rand replaced the Gold Half Pound in 1965 ... meaning the very first gold R1 (second decimal coinage)
The gold 2 Rand replaced the gold pound
Mintage as follows
Unc - 10,000
Proof - 6,024
3.99g (.917) AU - Today = USD150
Example of gold 2 Rand
Or said another way, the SA gold 1 rand was the equivalent of a British half sovereign.
0.117 troy ounce actual gold weight.
Thank you all for your responses, so am i right in thinking that this coin is really only worth melt value?
I tried to buy one from the South African mint in 1964 but the US gold regulations then prevented that.
Several years ago I bought the corresponding 2 rand coin.
Added:
South African Mint pricelist for 1964 (one rand was worth US $1.40 then):
The Mysterious Egyptian Magic Coin
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The gold Rand and 2 Rand replaced the 1/2 Pound and Pound in 1961. I have an entire 1963 9 piece decimal coinage proof set and original case from the South Africa Mint. The early coins are very low mintage, the 1963 only 2508 pieces of each were minted in proof.
In gem condition they might bring 1 1/2 times melt on a good day but most usually sell at melt or slightly higher. There doesn't seem to be a lot of collector demand for the coins.
it's crackers to slip a rozzer the dropsy in snide
Are these specifically made as bullion or were they used in commerce?
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
Considering the low mintages I'd say they were struck for the collector and or bullion market.
it's crackers to slip a rozzer the dropsy in snide
I would say that the gold coins were simply a tangible expression of South Africa's new sovereignty and independence - certainly they had no role in daily commerce.
Nonetheless, they were struck to traditional British weights and fineness.
Thank you for the info Tommy, I appreciate it.