South Africa kept issuing gold coins even after the British intercepted coinage dies in 1899, during the Second Boer War. The rare 1898 gold pond counter-stamped with 99 came into circulation to identify the year of issue. One of these coins, graded About Uncirculated 58 by NGC, will be offered by Dix Noonan Webb from 12th to 14th December in London with an estimated value of £34,000 to £40,000.
South Africa’s Mint was not functional from 1898 to September 1899. The pond coins were then minted to fund the war. The dies for 1899-dated coins were not available due to the British interception and the dies from 1898 coins were used to strike the new coins. A single 9 counter-stamp was used for 137,000 coins. As few as 130 coins were struck using a 99 stamp. This coin is very rare to find and is many-a-times counterfeited.