Across the physics disciplines, the 186Pb nucleus is the only known system, where the two first excited states, together with the ground state, form a triplet of zero-spin states assigned with prolate, oblate and spherical shapes. Here we report on a precision measurement where the properties of collective transitions in 186Pb were determined in a simultaneous in-beam γ-ray and electron spectroscopy experiment employing the recoil-decay tagging technique. The feeding of the 0+2 state and the interband 2+2→2+1 transition have been observed. We also present direct measurement of the energies of the electric monopole transitions from the excited 0+ states to the 0+ ground state. In contrast to the earlier understanding, the obtained reduced transition probability B(E2;2+1→0+2) value of 190(80) W.u., the transitional quadrupole moment |Qt(2+1→0+2)|=7.7(33) eb and intensity balance arguments provide evidence to reassign the 0+2 and 0+3 states with predominantly prolate and oblate shape, respectively. Our work demonstrates a step-up in experimental sensitivity and paves the way for systematic studies of electric monopole transitions in this region. These electric monopole transitions probe the nuclear volume in a unique manner and provide unexploited input for development of the next-generation energy density functional models.