It is believed that Paul Kruger, president of the Transvaal Republic at the time, took the treasure hoard with him, as he fled after the war. But other historical accounts suggest that Kruger may have given the gold away.
There are records that show that large amounts of the gold was paid out to Boer soldiers at the end of the war.
Others believe the treasure is buried somewhere in South Africa, and was never taken out of the country.
According to the records in 1900, 947 000 Kruger gold ponde were minted, more than three times the annual number normally required for the administration of the Transvaal, a large quantity of 1898 silver coins were also struck.
Very few of the gold ponde were ever recovered, and not a single 1898 silver coin has ever turned up.
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