Catalog
KM#10.2, Hern Z45 (1892)
Years
1892‑1900
Total Mintage
2,186,136
1892 Mintage
~10,150 (single shaft)
Mint
Berlin (1892) / Pretoria (1893‑1900)
Weight
7.99g / 0.2352 oz AGW
1892 Single Shaft Pond
The corrected design – after the double shaft controversy, new dies were prepared with a single shaft wagon and no initials. These became the standard ZAR gold Pond struck from 1892 to 1900.
Corrected Features
- Single wagon shaft (enkel disselboom)
- No "O.S." initials
- Larger rear wheel, smaller front
History
Although a lease had been granted in 1891 to the Nationale Bank of the Zuid Afrikaansche Republiek to establish a state mint in Pretoria, President Kruger was anxious to get new coins into circulation and placed an order with the Royal Prussian mint at Berlin. The task of engraving the dies was assigned to Otto Schultz (1848-1911), the Berliner who had enjoyed a varied career working with the Loos medallic business in the city and with L.C. Wyon at the Royal Mint, London, before joining the Berlin mint as Second Medallist under Emil Weigand (1837-1906).
Initially Schultz engraved the ox-wagon on the three largest denominations with two shafts, instead of the single shaft of the disselboom (wagon with a single pole) represented in the arms of the Republic. This, and the fact that Schultz placed his initials below the bust of Kruger, which were interpreted in Afrikaans as "os" (ox), meant that the first shipment of coins from Berlin were ill-received in the Republic. On Kruger's orders the dies were altered and new, corrected dies were prepared. The single shaft variety features the correct wagon design with a single shaft and larger rear wheels, and the offending "O.S." initials were removed from the obverse.
Some 1892-dated single shaft Ponds were struck in Berlin from the corrected dies, but it was not until 1893 that the new Pretoria mint started striking 1892-dated coins from Berlin-prepared dies. This became the standard gold coinage of the ZAR, struck from 1892 to 1900.
Technical Specifications
Coin Details
- Denomination: 1 Pond
- Years: 1892‑1900
- Mint (1892 single shaft): Royal Prussian Mint, Berlin
- Mint (1893‑1900): Pretoria Mint
- Engraver: Otto Schultz
- Catalog: KM#10.2, Hern Z45-Z53
Physical Specifications
- Weight: 7.99g
- Diameter: 22mm
- Thickness: 1.52-1.56mm
- Composition: .9167 Gold (22 carat)
- AGW: 0.2352 oz
- Edge: Reeded
Obverse
Bearded bust of President Paul Kruger facing left, with no initials on truncation. Legend: ZUID AFRIKAANSCHE REPUBLIEK.
Reverse
Coat of arms of the South African Republic with value and date. The wagon features a single shaft (correct disselboom) and larger rear wheels. Legend: 1 POND * [YEAR] * EENDRAGT MAAKT MAGT.
Varieties and Key Dates
| Year | Mintage | Estimated Value (VF) | Estimated Value (EF) | Estimated Value (UNC) |
|---|---|---|---|---|
| 1892 (Berlin, single shaft) | 10,150 | 980 € ($1,060) | 1,600 € ($1,730) | 2,600 € ($2,810) |
| 1893 | 61,926 | 860 € ($930) | 1,400 € ($1,510) | – |
| 1894 | 317,723 | 900 € ($970) | 950 € ($1,030) | 4,500 € ($4,860) |
| 1895 | 336,000 | 1,400 € ($1,510) | 14,000 € ($15,120) | – |
| 1896 | 235,000 | 920 € ($990) | 1,000 € ($1,080) | 3,300 € ($3,560) |
| 1897 | 310,980 | 870 € ($940) | 1,000 € ($1,080) | – |
| 1898 | 136,870 | 840 € ($910) | 1,000 € ($1,080) | 1,500 € ($1,620) |
| 1899 | 142,000 | War year; overdate varieties exist | ||
| 1899 (double '99' overstamp) | 130 | Extremely rare; unique single '9' overstamp exists | ||
| 1900 | 33,000 | 1,300 € ($1,400) | 1,300 € ($1,400) | – |
Key Varieties
- 1892 Single Shaft (Berlin): The first year of issue in its corrected form, struck in Berlin before Pretoria production began. Scarce, especially in high grade.
- 1899/8 Overdate: An 1899-dated coin where the final '9' was punched over an '8'. Approximately 130 examples known.
- 1899 "Single 9" Pond: Unique – created when a single '9' was punched over an '8' on an 1898 die. Sold for approximately R20 million in 2010.
Collector Notes
- Condition: The 1892 single shaft Pond is particularly scarce in uncirculated condition, with the 1895 and 1898 issues being the most commonly encountered in high grade.
- Proofs: Proof examples exist only for the double shaft variety (1892) and are of the highest rarity. The 1892 proof set (9 coins) sold for £65,000 in 2006 and £40,000 in 2005.
- Grading: NGC and PCGS certification is recommended for high-value specimens. Recent auctions have featured coins graded MS62 to MS64.
- Authentication: Beware of counterfeits; the 1892 date and the wagon design should be carefully examined. The single shaft should be clearly visible and the obverse should have no "OS" initials.
Auction Records
| Date | Auction House | Year / Variety | Grade | Price Realized |
|---|---|---|---|---|
| Sep 2025 | Heritage | 1892 double shaft | NGC MS62 | $2,400 |
| Aug 2025 | Heritage | 1892 double shaft | PCGS MS63 | $2,220 |
| Jan 2025 | Heritage | 1892 double shaft | NGC MS64 | $3,600 |
| 2024 | Spink Coinex | 1898 Pond | MS61 | £450 |
| 2023 | Spink (Becker Coll.) | 1894 Pond | Good VF | £480 |
| 2023 | Spink (Becker Coll.) | 1895 Pond | VF | £450 |
| 2014 | Noonans | 1892 single shaft Crown (lot 1564) | Removed from mount | £350-450 (est.) |
| 2013 | Noonans | 1892 double shaft Pond (lot 2009) | Fine-VF (in set) | £1,200-1,500 (est.) |
| 2013 | Noonans | 1892 double shaft Pond (set of 9) | Fine-VF | £1,200-1,500 (est.) |
| 2006 | Noonans | 1892 proof set (Hohmann Coll.) | PR63-65 | £65,000 |
Sources
- Numista. "1 Pond 'Kruger Pond'" (KM#10)
- Wynyard Coin Centre. "South Africa 1892 'Single Shaft' Gold One Pond"
- Noonans Mayfair. Lot 1426 (29 Sep 2010) – Proof Half-Pond history
- Noonans Mayfair. Lot 1313 (28 Sep 2006) – 1892 proof set
- Noonans Mayfair. Lot 2009 (24 Sep 2013) – ZAR set
- Noonans Mayfair. Lot 1564 (3 Apr 2014) – 1892 single shaft Crown
- London Coins. Auction 168, Lot 720 – ZAR cased set
- Heritage Auctions. 2025 sales results
- Spink Auction 23006 (Becker Collection). 2023 results
- Hern, Brian. Standard Catalogue of South African Coins, Medals and Tokens.