Error Proof 1 Oz Kruger!
In 150 years of coin mintage, no Mint has ever been found to produce an under-spec gold coin and sold it to the public. (Most Mints would rather add a little more gold than subtract it.)
This has now changed. In April/May 2011 the South African Mint produced 6 such coins in a run of 1500 Proof Kruger Rands, ( less than half the 1500 were distributed.) the coins are around 5% under gold spec.
One of these very rare errant coins are now available here today.
The coins have way more than just being short in gold content, there are other errors too!
The Kruger Rand’s diameter is wider. on the certificate is stated: 32.69. Actual: 32.89
The coin is thicker than normal. 3.03mm
And also the weight is heavier than specifications. on certificate is stated: 33.930. Actual: 33.980
The coins have also been analysed for the metal content and are not near the minimum specifications; They are approximately 5% under spec (less gold)
Minting of proof gold coins should be of the most exacting, the most precise specifications capable by man. Out of the millions of Proof 1 Ounce fine Gold coins minted worldwide, these are the only six with these anomalies. Are they among the rarest coins on earth?
CNBC and Forbes Magazine broke the story earlier this year: See the story here where they interviewed me.
http://www.youtube.com/watch?v=y9PuUBd8wCY&feature=plcp
Successful bidder will be taken through the process at one of SA's leading gold manufacturing companies for full and overwhelming validation of the error coins.
All coins are ungraded. A leading South African coin grading service initially agreed to grade them but refuse to do so until permission has been granted by the South African Reserve Bank, who have steadfastly ignored my requests to do so.
Here are the Reserve Bank's public statements on these coins:
http://www.resbank.co.za/publications/detail-item-view/pages/publications.aspx?sarbweb=3b6aa07d-92ab-441f-b7bf-bb7dfb1bedb4&sarblist=21b5222e-7125-4e55-bb65-56fd3333371e&sarbitem=4907
http://www.resbank.co.za/Publications/Detail-Item-View/Pages/Publications.aspx?sarbweb=3b6aa07d-92ab-441f-b7bf-bb7dfb1bedb4&sarblist=21b5222e-7125-4e55-bb65-56fd3333371e&sarbitem=5019
Every now and then, a once in a lifetime opportunity comes your way... this is one of those times.
Coin on right is different from others which led to investigation
Assay of coin.
