Paul Kruger: 200 years of a numismatic legacy

The year 2025 marks the bicentenary of the birth of Paul Kruger, a seminal figure in South African history whose legacy continues to resonate across political, cultural, and numismatic spheres.

Kruger’s enduring presence in coinage has elevated him to global prominence within the field of numismatics.

According to Landon Coleske, numismatic expert and historian at Bassani’s Auction House, “Paul Kruger would rank in the top 20 of people who have appeared on the most coins in history. Also, if you exclude monarchs, he'd be in the Top 5.” This distinction underscores the remarkable extent to which Kruger’s image has been embedded in South Africa’s monetary heritage.

Kruger served as President of the South African Republic (ZAR). His leadership coincided with the introduction of South Africa’s first national coinage, a development that would define the country’s numismatic trajectory for generations. “A numismatic legacy that would define the country’s coin history for over a century,” Coleske says.

In 1892, Kruger’s portrait was officially introduced on the ZAR coin series, which included the bronze penny, silver denominations ranging from threepence to crown, and the gold half-pond and pond coins.

These coins were distinguished by their meticulous design, featuring Kruger’s profile on the obverse and the ZAR coat of arms on the reverse. “They represented not only a new currency but a statement of sovereignty and craftsmanship. Today, these early Kruger coins, particularly high-grade gold issues, are among the most valuable collectibles in the world, often commanding record prices at auction,” Coleske says.

Among the most notable of these is the 1898 Single 9 Kruger Pond, minted in 1899 during the Anglo-Boer War as an emergency issue. “Only one single example was ever produced. The coin’s crude ‘9’ stamp, added to signify the new year, makes it utterly unique. More than a century later, it remains South Africa’s most famous and valuable coin, recently (in January 2025) selling for R41 million, the highest price ever achieved for a South African coin,” says Dillon Bassani, chief executive officer at Bassani’s Auction House.

Kruger’s numismatic legacy continued well beyond the dissolution of the ZAR. In 1967, his portrait was reintroduced on the Krugerrand, a pioneering bullion coin that transformed the global gold market. “The Krugerrand was the world’s first modern bullion coin, created to make gold ownership simple and internationally tradable,” says Coleske. Since its inception, over 60 million gold Krugerrands have been minted, making it the most recognised gold coin worldwide. In 2017, the range expanded to include silver Krugerrands, further entrenching Kruger’s image in contemporary coinage. “Its success was extraordinary,” Coleske says.

Bassani further notes the exceptional value of other Kruger-related coins: “The Single 9 Kruger Pound is not the only financial ‘outlier’ in the ‘Kruger-stable’. The 1967 proof Krugerrand sold for R96 000, including commission, on Bassani’s Signature Auction 17. The 1898 Sammy Marks tickey featuring Paul Kruger sold for R628 800, including commission. And the 1892 Proof Penny featuring Paul Kruger sold for R458 40,0, including commission.”

From the 1892 penny to the Krugerrand, Kruger’s likeness has graced coins of varying rarity, value, and international significance. His portrait reflects the evolution of South Africa’s identity, from a republic asserting its sovereignty to a modern nation whose coinage is respected and collected across the globe. “His portrait has now featured continuously for 133 years (1892–2025),  a record very few can match,” Coleske says.

“Two hundred years after his birth, Kruger remains more than a historical figure, he is a symbol of South African identity, craftsmanship, and pride. His enduring presence on coins reminds us that while empires rise and fall, some legacies are struck in gold,” Coleske says.

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