From the Curatorial Desk · Investigation
The gold behind the coins.
Tracing the origins of ZAR gold — the 1892 Berlin coinage and the 1902 Veldpond.
Two pivotal moments in South African numismatic history: the first official coinage struck in Berlin in 1892, and the last desperate coinage struck in the veld at Pilgrim's Rest in 1902. This article examines the sources of the gold, the people who shaped the dies, and the remarkable circumstances under which both were minted.
Edited byBen Ungerer & Johan Ungerer · The Jardines Curatorial Desk
The 1892 ZAR gold
Berlin Minting & Gold SourcesTwo presses, one mint
The first ZAR coins were struck on contract by the Royal Prussian Mint at Berlin3. President Paul Kruger ordered two mint presses from Ludw. Loew & Co. in Berlin to be used in the newly established mint in 1892, built on Church Square, Pretoria. The machines carried a manufacturing date of 18917.
The task of engraving the dies was entrusted to Otto Schultz, a medallist at the Berlin Mint whose skill at producing lifelike, deeply engraved portraiture in metal is readily seen in his rendering of the bust of President Paul Kruger3.
Otto Schultz
Schultz had a long list of engraving triumphs to his name by the time he was entrusted with the Transvaal coinage, including a number of splendid royal medals3. His specialty was medals, and this skill is evident in the crispness of detail and sharpness of rims on the 1892 proofs compared to later issues3.
The Berlin Münzkabinett still preserves a wax model and various striking tools for South African coins in the former die archive of the Berlin Mint5.
The missing link: gold provenance
The available sources do not explicitly state whether the gold used for the 1892 Berlin-struck coins originated from the Transvaal gold fields or was sourced in Germany. This represents a gap in the historical record that requires further research.
The available sources confirm that the dies were made in Berlin and the coins were struck there135. The Smithsonian's National Numismatic Collection holds an 1892 Pond described as "place made: Germany: Berlin; place used: South Africa"1. This confirms the coins were struck in Germany for use in South Africa.
However, none of the sources specify whether the gold was shipped from the Transvaal to Berlin or whether the Berlin Mint used its own gold reserves. The Western Cape Numismatic Society's detailed research on the 1892 coinage focuses on the proof issues, the "Glück auf Transvaal" medals, and Otto Schultz's work, but does not address the source of the gold9.
Numismatists who wish to study closely all of these coins will discover their special crispness of detail, and sharpness of rims, compared to what is seen on the issued dates that followed, those of 1893 onward.
Heritage Auctions · description of the 1892 proof Pond3
The proof issues
Only a small number of proof coins were struck in 1892. Heritage Auctions notes that the 1892 proof Pond had an estimated mintage of only ten pieces, and these proofs "were kept for the engraver or his employer, and for a mere handful of politicians associated with the coins' creation"3. The Western Cape Numismatic Society's research, drawing on the work of E.A. Hohmann and J.T. Becklake, confirms that these proof sets came from the collections of former employees of the Royal Prussian Mint in Berlin9.
The "Glück auf Transvaal" medal
Connected to the opening of the Pretoria Mint, twenty-five commemorative "Glück auf Transvaal" (Good Luck to the Transvaal) medals were struck in copper in Berlin by the private mint of L. Ostermann. The obverse shows a winged Fortuna; the reverse reads "Erste Prägung auf den munz-machinen 1892" — first impression by the coin machine, 1892. These medals were designed by Otto Schultz and were likely presented when the mint presses were first put into operation in Pretoria, probably in November 1892 rather than at the official building opening in 18939.
The Veldpond, 1902
Birth, Location & Key FiguresHistorical context
The South African War — the Second Boer War — between the British and the Boers took place from 1899 to 1902. Toward the end of the war, the remaining fighters for the South African Republic fled into the countryside to assert their independence from the British. It was in these desperate circumstances that the Veldpond was born46.
Pilgrim's Rest
The coins were produced in the veld — the field — at a makeshift mint established in the bush at Pilgrim's Rest in northeastern Transvaal (now Mpumalanga)248. This was an emergency mint set up by Boer forces on the run from the British210.
The site was a gold mining area — one consignor's ancestor worked as an engineer on the mines in Pilgrim's Rest prior to the war10.
986 pieces
The reported mintage stands at 986 pieces for the Veldpond28. Some sources cite 968 coins46, but 986 is the more commonly accepted figure. The coins were struck out of necessity to pay Boer soldiers' wages28.
The key figure: P.J. Kloppers
P.J. Kloppers — a former school teacher with no professional experience as a die sinker — was tasked with creating the dies28. He wisely opted for simplicity, creating one of the crudest and most distinctive coin types of the twentieth century2.
- Obverse design. A proudly defiant "ZAR" monogram (Zuid-Afrikaansche Republiek) with the date 1902 below28.
- Reverse design. The denomination "EEN POND" (One Pound)28.
- Die failure. One obverse die became notched, resulting in the celebrated "slash" variety visible to the upper left of the obverse on some specimens28.
The minting process
- Gold source. Pure 24-karat gold was obtained by melting down gold bars and gold nuggets468. The source was almost certainly local gold from the Pilgrim's Rest area, a known gold mining region.
- Melting & shaping. The fighters used old farm machinery and accessible chemicals to melt the gold down and make it pliable enough to shape into coins46. The gold was cast into blanks, which were shaped into currency using a manually operated lathe8.
- Authorisation. Validated facts show that a commanding general of the Boer troops requested the coins, and the Republic's acting president authorised their production8.
Survival and condition
- At the highest preservation levels (MS65), Veldponde are encountered only once every few years2.
- The last Gem Mint State example offered at auction was in January 20232.
- A notable MS64 example from the November 2020 Heritage sale had an extraordinary provenance — held within the same family for over a hundred years and through four successive generations, acquired by the consignor's great-grandfather who worked as an engineer in Pilgrim's Rest immediately after the war10.
Collector notes
- Varieties. The "slash" variety (notched die) is well-documented and highly collectible28.
- Off-centre strikes. Some examples show a slightly off-centre strike, which adds character and does not detract from value8.
- Grading. NGC and PCGS certification is strongly recommended due to the crude nature of the coins and the potential for counterfeits.
Key people
Six Names Worth Knowing| Person | Role | Connection |
|---|---|---|
| Otto Schultz | Engraver / Medallist | Designed all 1892 ZAR dies at Berlin Mint; created the "O.S." initials and the Double Shaft error; his portrait of Kruger is still used on Krugerrands today359. |
| P.J. Kloppers | Die sinker, 1902 | Former school teacher with no professional experience; created the iconic Veldpond dies28. |
| Friedrich Munscheid | Mint Director | Former Works Inspector of the Royal Prussian Mint, appointed Director of the Pretoria Mint9. |
| L. Ostermann | Private Mint Owner | Struck the twenty-five "Glück auf Transvaal" medals in Berlin9. |
| Ludwig Loewe & Co. | Press Manufacturer | Manufactured the two mint presses ordered by President Kruger in 189179. |
| E.A. Hohmann | Collector | Owned two 1892 proof sets and two "Glück auf Transvaal" medals, purchased in Berlin in 19549. |
Mint locations
Three SitesBerlin, Germany
Royal Prussian Mint (Königliche Münze). Struck all 1892-dated ZAR coins135. The former die archive of the Berlin Mint still preserves original wax models and striking tools5.
Pilgrim's Rest, Mpumalanga
Makeshift field mint in the bush. Boer forces melted down gold bars and nuggets using old farm machinery and accessible chemicals248.
Pretoria Mint
The National Bank and Mint building on Church Square, Pretoria, opened officially in April 1893, though minting may have begun as early as November 189279.
Open research questions
Three UnansweredThe sources leave several questions unanswered, which may represent opportunities for further research.
Gold source for the 1892 Berlin coinage
Did the Transvaal ship its own gold to Germany, or did the Berlin Mint use its own gold reserves? This critical detail is absent from the available sources.
Exact number of proof sets
The discovery that E.A. Hohmann purchased two complete proof sets in Berlin in 1954, each accompanied by a "Glück auf Transvaal" medal, raises the question of whether twenty-five proof sets were originally issued — corresponding to the twenty-five medals9.
The Ostermann connection
Why did the private mint of L. Ostermann strike the commemorative medals rather than the official Berlin Mint? One theory suggests the official mint outsourced the striking for unknown reasons9.
If you have access to primary source documents, mint records, or shipping manifests that could answer any of these questions, please consider contributing to the research. Write to the Curatorial Desk — we credit every revision.
Sources
Ten Primary & SecondarySmithsonian Institution. 1 Pond, South African Republic, 1892. National Numismatic Collection.
Heritage Auctions. South Africa: Republic gold "Veld" Pond 1902 MS65 NGC. August 2024.
Heritage Auctions. South Africa: Republic gold Proof Pond 1892. January 2012.
National Museum of American History. 1 Veld Pond, South African Republic, 1902.
Berlin Münzkabinett / museum-digital. Südafrika: 1892.
Smithsonian Institution. 1 Veld Pond, South African Republic, 1902 — Lilly Collection.
South African Mint. Home to Oom Paul.
Heritage Auctions. Republic gold "Veld" Pond 1902 MS65 NGC. January 2025.
Western Cape Numismatic Society. The ZAR Coinage of 1892, Part 2 — Pierre H. Nortje, December 2023.
Heritage Auctions. South Africa: Republic gold "Veld" Pond 1902 MS64 NGC. November 2020.