Catalog
KM#11, Fr-4, Hern Z54
Mintage
986
Survival
~350-400
Metal
.999 Gold (approx.)
Weight
7.0-8.5g (varies)
Die-sinker
P.J. Kloppers (school teacher)
1902 Veldpond
The last coin of the Boer Republic, struck in the field at Pilgrim's Rest under primitive conditions. For many numismatists, the Veld Pond is the holy grail of South African coins due to its remarkable history and extreme rarity .
Key Facts
- Issued: 1902 (final months of Anglo-Boer War)
- Mintage: 986 pieces
- Crudest 20th century type: Hand-engraved dies, handmade collar
- Museum holdings: Smithsonian (68.159.5817)
History – The Last Stand of the Boer Republic
Authorization
The issue was produced on the recommendation of General Christian Muller, the assistant-commandant-general, and authorised by Schalk Burger, acting president of the Republic after Paul Kruger left the country on 19 October 1900 . By early 1902, with the Pretoria Mint captured and Boer forces retreating, an emergency mint was established at Pilgrim's Rest in the eastern Transvaal (now Mpumalanga) .
Location
The coins were struck at the Transvaal Gold Mining Estates' dormant workshop at Pilgrim's Rest, using improvised equipment . The name "Veldpond" comes from the Afrikaans word for "field" – the grassy area (veld) in which it was struck . The location is now in the province of Mpumalanga, South Africa .
The Minting Process – Ingenuity Under Fire
The Die-Maker: P.J. Kloppers
The dies were executed by the acting mint master, P.J. Kloppers, a former head teacher at the De Kaap Government School who had no professional experience as a die sinker . Six die pairs were damaged during the tempering process (plunging the hot dies into oil or water) before the seventh pair was produced without incident . Kloppers chose a simple design: a proudly defiant "ZAR" monogram with the date on the obverse, and the denomination on the reverse, creating one of the simplest yet most distinctive coin types of the 20th century .
The Gold
Pure 24-karat gold was melted and cast into blanks, which were shaped into currency using a manually operated lathe . The gold, sourced from local mines, was nearly pure but proved brittle. Kloppers discovered he could use antiseptic tablets (sublimate of mercury) found in an ambulance to render the gold malleable .
The Striking
A collar die was also created by hand, so the coins would be milled, just like the British sovereign the Veldpond was meant to supplant . Human muscle from two men could barely operate the press to strike the coins . Production continued for about three months, with approximately 986 pieces struck . Minting ended in June 1902, some 15 days after the signing of a truce .
🔍 New Research: For a deeper dive into the gold sources used for the Veldpond and the 1892 Berlin-struck coins, see our dedicated research page: The Gold Behind the Coins: Sources of the 1892 ZAR Coinage and the Birth of the Veldpond.
Technical Specifications
Coin Details
- Denomination: 1 Pond (implied)
- Year: 1902
- Mint: Emergency field mint, Pilgrim's Rest
- Mintage: 986
- Catalog references: KM#11, Fr-4, Hern Z54
Physical Specifications
- Weight: Varies considerably (7.0-8.5g); typically 7.6-7.9g
- Diameter: 21-23mm (typical 22.8mm)
- Composition: approx .999 Gold (variable)
- Edge: Reeded (handmade collar)
- Orientation: Medal alignment ↑↑
Design
- Obverse: "ZAR" monogram (Zuid Afrikaansche Republiek) above date "1902". Simple, hand-engraved lettering .
- Reverse: "EEN POND" (One Pound) in two lines. Crude lettering consistent with field conditions .
Die Varieties
- Slash variety: One obverse die became notched, resulting in a celebrated "slash" to the upper left of the obverse. This variety is well-documented and highly collectible .
- Off-center strikes: Due to the primitive equipment, some examples exhibit off-center strikes and irregular thickness .
Survival and Authentication
- Survival rate: Of the 986 minted, an estimated 350-400 survive today. Many were lost, melted, or damaged .
- Common issues: Many survivors show mounting damage (ex-jewellery), plugging, or cleaning – problem-free examples are extremely rare .
- Counterfeit risk: The Veldpond is a notorious target for counterfeiters because of its crude nature and historic value . Certification by NGC or PCGS is strongly recommended.
- Institutional holdings: The Smithsonian Institution holds a specimen (NU.68.159.5817) from the Josiah K. Lilly estate .
Auction Records (2005–2025)
The Veldpond is one of the great rarities of South African numismatics. The following prices realized reflect its extreme desirability:
| Date | Auction House | Grade | Price Realized |
|---|---|---|---|
| Aug 2025 | Heritage 3125 | NGC MS65 | $30,000 |
| Jan 2025 | Heritage 3121 | NGC MS65 (slash var.) | $33,600 |
| Jan 2025 | Heritage 3121 | NGC MS62 | $15,600 |
| Aug 2024 | Heritage 3118 | NGC MS65 | $33,600 |
| Aug 2024 | St. James's | – | £38,000 ($49,400) |
| Jan 2023 | Heritage 3105 | NGC MS65 | $45,600 |
| Jan 2023 | SBP / Shouxi | NGC MS63 | $15,600 |
| 2023 | Schulman | – | €28,000 ($30,800) |
| 2022 | Noonans | – | £27,000 ($35,100) |
| Aug 2020 | Heritage 3085 | NGC MS61 | $28,800 |
| Aug 2020 | Heritage 3085 | NGC UNC Details (Mount Removed) | $7,500 |
| Nov 2020 | Heritage 3088 | NGC MS64 | $33,600 |
| 2015 | Heritage | NGC MS63 | $39,950 |
| Jun 2014 | Dix Noonan Webb | EF | £8,400 ($14,099) |
| 2011 | Noonans | NGC MS64 | £31,000 ($50,000+) |
| 2010 | Heritage | NGC MS64 | $33,600 |
| 2005 | Noonans | – | £14,500 |
London Coins auction results: GVF example at £8,500 (Auction 152), NEF ex-mount at £1,900 (Auction 150), VF at £7,000 (Auction 147), Good EF at £6,000 (Auction 144) .
Collector Notes
- Condition: High-grade Veldponds (MS65) are encountered only once every few years . The finest known examples are among the most desirable of all South African coins.
- Varieties: The "slash" variety is particularly sought-after .
- Provenance: Coins from notable collections (Orange River, Gatsby, Becker) command premiums.
- Investment: The Veldpond has shown strong long-term appreciation – from £14,500 in 2005 to $45,600 in 2023.
Sources
- Shouxi / Stack's Bowers. "SOUTH AFRICA. Second Boer War. "Veld" Pond, 1902" (Jan 2023) .
- Numista. "1 Pond "Veld Pond"" .
- London Coins. Auction Realised Prices – Veld Pond .
- LOT-ART / Heritage. "Republic gold "Veld" Pond 1902 MS65 NGC" (Aug 2024) .
- CoinArchives. Heritage NYINC Signature Sale 3121, Lot 31073 (Jan 2025) .
- Colnect. "1 Pound (Veld Pond)" .
- Noonans Mayfair. Lot Archive, Lot 467 (21 June 2011) .
- Coin World. "Veld Pond from Anglo-Boer War a major South African rarity" (Feb 2015) .
- Smithsonian Institution. "1 Veld Pond, South African Republic, 1902" .