Hello Brian,
If you ever had the chance to buy a Pietersburg Town Guard for ten rand, you should have done so, but, the fact remains that this particular unit will be forever associated with the events, not only in Pietersburg, but, the whole Zoutspanberg too, that occured in 1901 and 1902.
You need to remember that General Beyers was wandering about the Northern Transvaal with a fairly large commando, which had the potential to do a lot of damage, at that particular point in time.
Yes, I do think that the market is being driven by speculators and has been for quite a few years now, medals have become very expensive.
Regards Frank