Rare South African Gold Coin’s Origin Story is the Stuff of Legend

By CoinWeek…

The 1898 Samuel Marks Tickey, also known as the Sammy Marks Tickey, is a legendary gold pattern coin from the South African Republic (Zuid-Afrikaansche Republiek, or Z.A.R.). Struck as a private issue in 22-carat gold, it represents the 3 pence denomination—commonly called a “tickey” in South African slang—using dies originally intended for silver coins. This coin is one of South Africa’s “Big 5” rare coins, prized by collectors for its historical ties to the Boer era, its minuscule mintage, and the enigmatic story of its creator, industrialist Samuel (Sammy) Marks. Not intended for circulation, it symbolizes the intersection of personal ambition, political favor, and numismatic rarity during a pivotal time in South African history.

He Made His Money in the Diamond Trade

Samuel Marks, born in 1843 in Lithuania to Jewish parents, fled religious persecution and arrived in South Africa as a young peddler in the Cape Province. He quickly rose to prominence, partnering with his cousin Isaac Lewis to establish a trading store in Kimberley amid the diamond rush. By the 1870s, they controlled a quarter of the region’s diamond claims, which they sold profitably after discovering coal in Vereeniging. Marks then diversified into manufacturing—coal processing, distilleries, glassworks, and more—before relocating to Pretoria following gold discoveries in the Transvaal.

In Pretoria, Marks cultivated a close friendship with President Paul Kruger, the Boer leader who resisted British expansion. Marks’ most notable contribution was financing the crucial railway from Pretoria to Lourenço Marques (now Maputo), securing loans from British and South African entities. As thanks, Marks received permission to use the Pretoria Mint for a day. He struck 215 gold tickeys using gold from his own mines, gifting them to friends, family, and officials, including Kruger and government members.

The timing of the striking remains debated. The coin is dated 1898, but the Pretoria Mint closed from January 1898 to September 1899 due to unprofitability, suggesting production possibly occurred during the Second Anglo-Boer War (October 1899–June 1900). Permission came verbally from State Secretary Francis William Reitz, though Kruger’s direct involvement is unconfirmed. Article nine of the Mint Act allowed private gold coining, but the exact source of the gold blanks is unknown. No official silver 3 pence coins were issued in 1898, and the dies are now housed in the South African Mint Museum.

After the war, Marks distributed the coins at events like a Johannesburg dinner party (possibly post-1906 at the Carlton Hotel) and through his wife, Bertha, who gifted them to relatives and employees until her death. Bertha’s will references a bracelet incorporating five coins, fueling speculation about their original purpose—perhaps a jewelry piece abandoned due to weight.

Market Data and Noteworthy Specimens

With a mintage of 215 pieces along with its foreign origin, the 1898 Samuel Marks Tickey is seldom presented in the United States at auction. When an example does appear, it is typically ex-Jewelry or otherwise impaired. NGC reports 46 grading events, while PCGS has straight-graded only seven examples. Given that certified coins trade less frequently in the European and African numismatic marketplaces, it is somewhat surprising to see the pop reports at this high level. In Mint State, the coin sells for between $18,000 and $20,000 in MS62; $25,000 and $30,000 in MS63; and we estimate $75,000 to $82,000 in MS64.

Top Population: PCGS MS64 (3, 9/2025) and NGC MS66 (1, 9/2025).

• PCGS SP64 #24890810: Heritage Auctions, September 27, 2013, Lot 25747 – $79,637.98.
• NGC MS64 #1293360-002: “The Orange River Collection,” Heritage Auctions, January 3, 2012, Lot 25035 – $46,000.
• NGC MS63 #3357220-006: “The Gatsby Collection,” Heritage Auctions, January 13, 2025, Lot 31035 – $24,000.
• NGC MS63 #6606975-001: Heritage Auctions, May 3, 2023, Lot 30188 – $24,000.
• PCGS SP63 #46454416: Stack’s Bowers, January 14, 2023, Lot 23524 – $21,600.
• PCGS MS63 #50244291: “The Read Collection,” Heritage Auctions, September 18, 2015, Lot 30576 – $39,950; Heritage Auctions, January 9, 2023, Lot 32283 – $31,200.
• NGC MS62 #1982818-036: “The Gatsby Collection, Part II” Heritage Auctions, August 27, 2025, Lot 32028 – $16,800.
• NGC MS62 #2723322-002: Stack’s Bowers, January 14, 2023, Lot 23525 – $20,400.
• NGC MS62 #2717773-001: Heritage Auctions, April 21, 2018, Lot 31661 – $28,800.

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Design

Obverse:

The obverse of features a left-facing portrait of President Paul Kruger, along with an inscription that reads “J.P. KRUGER STAATSPRESIDENT” (State President J.P. Kruger).

Reverse:

The coin’s reverse displays the denomination “3” encircled by an olive wreath, symbolizing peace and victory. Flanking the “3” are the date “18” (left) and “98” (right), with “Z.A.R.” above, abbreviating “Zuid-Afrikaansche Republiek” (South African Republic).

Edge:

The edge of the 1898 South African 3 Pence “Sammy Mark Tickey” is reeded.

Coin Specifications

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