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Identify SA gold coin

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I have collected the Union series (which includes the 1958 gold) since 1998.

I don't believe what you have is genuine because it doesn't look like any 1958 gold half pound or pound I have ever seen.  Compare your image to the one below from the Heritage archives and you will see the difference.  The obverse in your image has an outer rim which doesn't exist on any coin I have ever seen and though I cannot read the denomination on the lower middle reverse, it appears to be 5 shillings instead of 1/2 pound or 1 pound.  There is no 5 shilling gold coin.

The other option is that your coin is so badly damaged by being flattened to look as it does, as in someone taking a hammer to it to create this appearance.

Either way, it isn't worth more than the gold content, at most.

https://coins.ha.com/itm/south-africa/world-coins/south-africa-two-piece-certified-elizabeth-ii-gold-proof-set-1958-total-2-coins-/a/231811-63316.s?ic4=ListView-ShortDescription-071515

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Thanks for your note WC, and I agree: its likely a novelty item. The 5 shilling gold was never struck.  But it is indeed at least gold content, albeit just a sliver.  Perhaps it was a part of some jewelry?

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