The 1892 ZAR Pond Double Shaft Coin – A Rare Minting Mistake with a Rich History
The 1892 ZAR Pond, also known as the “Double Shaft” coin, is one of the most intriguing pieces in South African numismatic history. Not only is it a rare collectible, but it also carries a fascinating backstory involving political urgency, design confusion, and cultural missteps. This coin was the result of a rush to produce gold coinage for the Zuid-Afrikaansche Republiek (ZAR) — and ended up becoming a legendary collector’s item because of a few key mistakes.
In this article, we dive deep into the origins, design flaws, rarity, and current value of the 1892 Double Shaft ZAR Pond.
🏛️ A Coin Born Out of Urgency
During the late 19th century, the ZAR government was under pressure to issue its own national coinage. The political climate was tense, with President Paul Kruger preparing for re-election. At the time, South Africa's own minting facilities were not yet ready, particularly the Pretoria Mint, which was still under construction.
To avoid delays, Kruger and his administration outsourced the minting of coins to the prestigious Royal Prussian Mint in Berlin. Orders were placed for gold Ponds, Half Ponds, and silver Crowns (5 Shillings) with the goal of producing coinage that represented South Africa’s independence and heritage.
⚠️ The Design That Sparked Controversy
When the coins arrived in 1892, they were met with sharp criticism — and for good reason.
🚫 The Double Shaft Wagon Error
One of the most significant mistakes involved the reverse side of the coin. The image was intended to depict a traditional Boer ox wagon, an iconic symbol of the Afrikaner pioneering spirit. However, the Berlin engraver had mistakenly used the design of a European-style wagon, which had a double shaft and equal-sized wheels. In contrast, the authentic Boer wagon used in the Great Trek had a single central shaft and large back wheels, optimized for rough terrain.
This incorrect wagon design became known as the “Double Shaft” variety.
🐂 The OS Initials Controversy
Another issue was on the obverse side of the coin, featuring a bust of Paul Kruger. Below his portrait, the initials “O.S.” appeared, referring to Otto Schultz, the German engraver responsible for the dies. Unfortunately, in Afrikaans, “OS” translates to "ox", a term that many perceived as an insult to President Kruger himself — essentially calling him an ox.
The public outcry over both errors was swift, and the ZAR government ordered the coins to be withdrawn from circulation and corrected.
🔄 The Recall and Correction
Shortly after the discovery of the design issues, the government recalled the flawed coins. New dies were commissioned to fix the wagon image and remove the controversial “OS” initials. The revised coin featured the correct single-shaft wagon design and omitted the engraver’s initials.
These corrected coins were later minted in smaller numbers and are referred to as the Single Shaft variety. They are now considered even rarer than the Double Shaft version due to their limited production.
🪙 Mintage and Rarity
The 1892 Double Shaft ZAR Pond had a limited mintage of about 16,000 pieces, with approximately 12 to 15 proof versions known to exist. The Half Pond from the same series had an even lower mintage of around 10,150, including about 20 to 25 proofs.
The corrected Single Shaft versions were minted in much smaller quantities. Some reports suggest these coins were struck at the newly opened Pretoria Mint in 1893, though official records remain unclear.
Because of the recall, many Double Shaft coins were melted down, making surviving examples quite scarce. This limited availability is a major factor behind their current high value among collectors.
💰 Market Value and Collectability
Due to their rarity and historical importance, 1892 Double Shaft Ponds are highly prized in the numismatic market. Their value depends on condition, provenance, and certification.
Here are some recent value indicators:
- A Double Shaft Pond graded MS62 by NGC has sold for over R86,000 in recent auctions.
- Circulated versions in VF to XF condition often sell between R20,000 and R45,000.
- The rarer Single Shaft variety in VF condition has been estimated at $1,500 to $2,500 USD, with higher grades reaching significantly more.
Online platforms such as BobShop and auction houses like Stephan Welz & Co often feature these coins, and demand continues to rise with time.
🔍 How to Identify a Double Shaft Coin
If you're looking to verify whether your coin is a Double Shaft variant, here are some quick visual tips:
- Check the wagon: Double Shaft coins will show a wagon with two shafts and same-sized wheels.
- Look for the initials: If “O.S.” appears below Kruger’s bust, it is the original Berlin-struck version.
- Reverse clarity: The coins often display a well-defined coat of arms with a clear wagon image on the reverse side.
It’s highly recommended to have the coin authenticated and graded by reputable services like NGC or PCGS before buying or selling.
🧠 Why This Coin Matters Today
The 1892 ZAR Double Shaft Pond is much more than just an old coin. It tells a story of:
- National identity
- Design mishaps
- Cultural sensitivity
- And the emergence of South Africa’s monetary independence
What was once seen as a political blunder is now a numismatic treasure. The mistakes that once embarrassed a government have turned into highly sought-after collector’s items more than a century later.
📌 Final Thoughts
Whether you are a seasoned collector or a history enthusiast, the 1892 ZAR Double Shaft Pond represents a unique chapter in the world of coin collecting. Its design error, limited availability, and cultural backstory make it a coin with both financial and historical value.
If you come across one of these coins, consider yourself lucky — you're holding a piece of South African history in the palm of your hand.