1892 Half Pond Double Shaft . Gold .. The 1892 Half Pond is far more scarce than the 1892 One pond
The Year 1892 is the most sought after of the Kruger Pond Series . It is the year of The Double Shaft Error .. See Details Below
The double shaft was only minted in 1892 and when realising the mistake of depicting the Voortrekker wagon with a double shaft the coins were immediately withdrawn and mintage stopped . This immediately made the coin a real collectors item
The 1892 half pond is even more scarce and sought after than the 1892 one pond , as much less of the half pond were minted
An article published in the 'Rapport' newspaper on 31 January 1999 had shown that over a five year period between 1993 and 1998 the Double Shaft 1892 Kruger Pond grew at a staggering rate of 64% per annum.. Thats a total growth of over 700% over a five year period . The double shaft was only minted in 1892 and when realising the mistake of depicting the Voortrekker wagon with a double shaft the coins were immediately withdrawn and mintage stopped . This immediately made the coin a collectors item.
History of the 1892 Double Shaft
Facing an upcoming election and wanting the new coins in circulation to enhance his prestige, President Kruger didn’t wait for the Pretoria Mint to be completed. Instead, he contracted to have the first issue of new ZAR coins (dated 1892) struck at the Imperial German Mint in Berlin. This proved a mistake, as the dies were cut with two glaring mistakes that insulted the populace and proved quite embarrassing to Kruger and the National Bank. Designer Otto Schultz, following a common practice, placed his initials ‘OS’ at the truncation of Kruger’s bust
Unfortunately, os is the Afrikaans word for ‘ox’, and new dies had to be hastily prepared omitting the initials. Even more damaging was the incorrect depiction of the Voortrekker wagon in which so many families had come to their new home. This kind of vehicle traditionally had a single hitching shaft protruding from its front, and its rear wheels were much larger than the front ones. Schultz instead depicted it with a double shaft and wheels of equal size throughout - this type of wagon was commonly used by Gypsies in Europe - and hardly flattering to the hardship and pride of the boers . 10,000 half-pound coins were struck and 16,000 of the one-pound pieces.
Reacting quickly, Kruger had the embarrassing error coins withdrawn and replaced with another issue of the same date but with the errors corrected. As people do with any coins which they believe will become rare, they hoarded the initialed, double-shafted coins in large numbers. This effectively ended their circulation, and made them highly sought after.
The double shaft was only minted in 1892 and when realising the mistake of depicting the Voortrekker wagon with a double shaft the coins were immediately withdrawn and mintage stopped . This immediately made the coin a collectors item.
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