1888 South Africa "Orange Free State" Penny

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1888 South Africa "Orange Free State" Penny - KM PN-13

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1888 South Africa "Orange Free State" Penny - KM PN-13

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Sold Date: 05/31/2009
Channel: Online Auction
Source: eBay
Category: Coins & Currency

A Lovely Orange Free State South African Pattern Penny minted by Lauer in 1888.

The Volksraad received an amount of £90 000 in compensation for the loss of the Diamond Fields. They decided after long and careful consideration that £70 000 would be invested in a proposed semi-state bank, and in 1877, De Nationale Bank van den Orange Free State came into being. Throughout the Republican years, the bank flourished. A lengthy series of conferences eventually led to the provisional and later permanent decision to permit Z.A.R coin to circulate as legal tender in the Free State, with the proviso that the Nationale Bank would receive compensation on the circulation of the Z.A.R coins. The Free State never had its own coins to meet its need for small change. The german firm, Otto Nolte & Co submitted specimen of pattern coin from time to time which were indeed considered by the Volksraad. Unfortunately nothing came of the plans. The Crown, considered as a possible coin was minted in silver and led. It bears the date 1887. T was also a variation, a very rare and scarce pattern coin by now, with a counterstamp "B.E.A.C 1888", standing for British East African Company below the word "KROON". The firm must have obtained some of these crowns and then placed their own stamp on them. It may have been used as a souvinier coin. T are several variations of the Penny. The 1874 "EEN PENNY" bears an orange tree on the reverse as well as two powder-horns. Of this penny, t is a variant of twice the normal thickness. A very rare variant is one bearing the coat of arms similar to the 1888 penny. The 1888 was minted in bronze, nickel, aluminum & silver, with noticeable variations of thickness.

This type of South African Pattern Penny is currently realizing £1,000-£1,300 in British public coin auctions.

Registered / Fully Insured Postage $13

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