ZAR Coinage · The Berlin Mistake
The Double Shaft Pond.
Struck at the Royal Prussian Mint, Berlin in 1892 — the first ZAR gold coinage. Engraver Otto Schultz had never seen a Voortrekker wagon, and signed his work "O.S." — which in Afrikaans means "ox." The two errors nearly cost Paul Kruger the 1893 election. The dies were re-cut. This is the survivor of an embarrassment.
Two errors, one die.
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The "O.S." signature Otto Schultz signed below Kruger's bust. Os means "ox" in Afrikaans.
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Two shafts on the wagon Voortrekker wagons had a single pole. Schultz drew two.
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Equal-sized wheels Authentic wagons had smaller front wheels. Schultz drew them the same.
The story
Three Acts · The Rush, The Wagon, The ElectionTraditionally, the Voortrekker wagon had a single shaft and larger rear wheels. Never having seen a veldt wagon, Schultz erred by making the wheels the same size — but more egregiously, by placing two shafts at its front, whereas the authentic wagon was a Dutch voortrekker or disselboom having a single pole, not a van-wagon with two.
— Numismatic historical record
The two errors, in detail
What Otto Schultz Got WrongThe "O.S." signature
Below the truncation of Kruger's bust on the obverse, Otto Schultz placed his artist's initials in raised relief: O.S. By the conventions of European medallic engraving — particularly Prussian — this was correct practice. An engraver of Schultz's standing would have been remiss not to sign.
What he did not know: in Afrikaans, the same two letters spell os — meaning "ox." The portrait of the President of the Zuid-Afrikaansche Republiek, on the Republic's first gold coinage, was therefore signed with the word "ox."
Authentication note: the "O.S." appears raised, not incuse, on the truncation. It is one of the most reliable diagnostic markers for the issue.
The wagon
At the bottom of the ZAR coat of arms, Schultz rendered the ox-wagon central to Boer national identity. He gave it two shafts at the front, with wheels of equal size. To his German eye, this resembled a perfectly ordinary delivery cart.
The authentic Voortrekker wagon — the one that brought the Boer republics into existence — had a single shaft, called a disselboom, drawn between a pair of oxen. Its front wheels were smaller than the rear. The wagon was the most sacred symbol the ZAR could put on a coin. Schultz did not know what one looked like.
Authentication note: the wagon's two-shaft design and equal wheels are the most visible diagnostic. The corrected single-shaft version that followed has one pole and visibly smaller front wheels.
Technical reference
Specifications & Catalogue- Denomination1 Pond
- Year1892
- MintRoyal Prussian Mint, Berlin
- EngraverOtto Schultz
- Mintage~16,000
- Proof mintage~10 pieces
- Weight7.988 g
- Diameter22.00 mm
- Thickness1.56 mm
- Composition.9167 Gold (22 ct) + Cu
- Gold weight0.2352 oz AGW
- EdgeReeded
- CatalogueKM #10.1 · Hern Z44 · Fr-2
The obverse
Bearded bust of President Kruger facing left, with raised "O.S." artist's initials on the truncation. Legend: ZUID AFRIKAANSCHE REPUBLIEK.
The reverse
Struck en médaille. Oval shield of arms divided in three — lion passant upper left, Boer with rifle upper right, ox-wagon at bottom (two shafts, equal wheels). Anchor escutcheon, eagle above, three vierkleur flags either side. Motto: EENDRAGT MAAKT MAGT. Surrounding legend: 1 POND · 1892.
The 1892 Proof Pond
For the Engraver and a Handful of PoliticiansApproximately
One of the rarest survivors in South African numismatics.
Alongside the ~16,000 circulation strikes, the Berlin Mint produced approximately ten proof examples of the Double Shaft Pond. These were not for sale. They were retained for the engraver, his employer, and for "a mere handful of politicians associated with the coins' creation."
What survives today represents the presentation tier of the most embarrassing coin issue in ZAR history — the coins that the very small group of insiders who knew about the errors kept for themselves before the rest of the issue was withdrawn from circulation.
"A gorgeous example of this fabled rarity, its surfaces brilliant, deeply mirrored, and possessing the delicate orange-peel texture seen only on proofs, the impression of the proofing dies nothing less than perfect." — Heritage Auctions, on the Orange River Collection PR65 NGC
Authentication guide
Die Markers · Proof Diagnostics · Counterfeit DetectionDie markers
What to verify on a genuine piece
- Obverse · O.S. raised, not incuse On the truncation of Kruger's bust. Raised relief is correct; incuse initials suggest a counterfeit.
- Reverse · wagon with two shafts The single-shaft version is the corrected later issue, not this one.
- Reverse · wheels of equal size Smaller front wheels indicate the corrected variety, not the Double Shaft.
Counterfeit locations
NGC-documented repeating depressions
- Obverse Kruger's mouth, ear, hair, and the bottom of the coat — these are the points that repeat on counterfeit examples documented by NGC.
- Reverse The "8" of the date · the ribbon above the "A" of MAAKT.
- Proof characteristics Genuine proofs show deeply mirrored fields, squared rims with wire edges, and a delicate orange-peel texture. Slight haze is consistent with original surfaces.
Auction landmarks
Where the Double Shaft TradesDespite the modest mintage of ~16,000, the Double Shaft was withdrawn quickly enough that high-grade survivors are scarcer than the population suggests. Mint State examples in MS62 and above remain the prize of any ZAR collection. The PR65 from the Orange River Collection — one of perhaps ten proof examples in existence — sits at the top of the field.
| Date | House | Grade | Realised |
|---|---|---|---|
| Jan 2026 | Heritage | PCGS MS63 | High estimate (upcoming) |
| Sep 2025 | Heritage (Gatsby) | NGC MS62 | $2,000 |
| Aug 2025 | Heritage | PCGS MS63 | $1,850 |
| 2025 | Wessex Coins (dealer) | NGC MS63 | £5,500 · ~$6,900 |
| Aug 2024 | Heritage ANA | NGC MS62+ | $2,500 – 3,500 est. |
| 2022 | Randburg Coin | NGC AU58 · set with half-pond | R75,000 · ~$4,000 |
| 2012 | Heritage (Orange River) | NGC PR65 | Premium · 1 of ~10 proofs |
| 2011 | London Coins | Sharp Unc / near | £2,000 |
The references
Standard Sources- Brian HernThe Standard Catalogue of South African Coins, Medals and Tokens.
- NGC Registry"ZAR POND 1874 – 1902, Circulation issue" reference.
- NGC Counterfeit DetectionDocumented repeating depression locations (2013).
- Heritage Auctions2012 Orange River Collection PR65 · 2024 ANA MS62+ · 2025 Gatsby Collection MS62.
- London CoinsAuction archives 2011, 2022, 2024.
- Wessex CoinsDealer reference listing, 2025.
- Randburg Coin"Fantastic Friday" offer record, 2022.
- Western Cape Numismatic SocietyResearch record, December 2023.