The coins of the South African rand represent the physical form of South Africa's currency. The rand was introduced in the then Union of South Africa on 14 February 1961, shortly before the establishment of the Republic on 31 May 1961.
The rand replaced the pound with a decimal currency: 100 cents (100c) = 1 rand (R1), 1 rand being valued at 10 shillings and 1 cent at 1.2 pence. The coins initially had the same size as the former South African coins. All except the 1⁄2 and 1 cent coins were in silver. In addition, two bullion coins with denominations of 1 rand and 2 rand were issued, replacing the gold half-pound and pound coins introduced in 1952. Both the pound and the rand gold coins matched the specifications of the British half-sovereign and sovereign (minted, among others, at the Pretoria branch mint until 1932), including the gold alloy (crown gold) with a fineness of 22 carat (91.67%).
A revised coinage series was introduced for 1965. Denominations included 1⁄2, 1, 2, 5, 10, 20 and 50 cents. Initially the coinage bore the portrait of Van Riebeeck, and later the State Presidents of South Africa (except F.W. de Klerk) or the South African coat of arms. The country name was given in Afrikaans, English or both. The gold rand coins were minted until 1983. Starting in 1967, however, they were gradually replaced by the Krugerrand coins, especially after the issue of the smaller Krugerrand denominations from 1/10 to 1/2 oz in 1980.
New coinage was introduced beginning with a R2 denomination (initially known colloquially as a "De Klerk"), adding a R5 coin, and replacing all the denominations of the previous coinage. Initially the coins bore the coat of arms and the name of the country in English and Afrikaans from 1990 to 1995. After 1996, the coins carried the name in one of the country's 11 new official languages. The 10, 20 and 50 cent coins were slightly redesigned by enlarging the numerals of the coin's denomination. From 2000 coins carried South Africa's new coat of arms.
The silver Krugerrand was first introduced in 2017 to commemorate 50 years of the Krugerrand. Commemorative 5 rand coins were circulated in 2008 for Nelson Mandela's 90th birthday, in 2011 to commemorate 90 Years of the South African Reserve Bank, and in 2015 for the 200th anniversary of the Griqua coinage, the first coinage issued in South Africa. These coins are the same in size and shape as the 5 rand that was introduced in 2004, but have different features. In 2017, a commemorative 5 Rand coin was struck to commemorate the Order of the Companions of O.R. As of 2022, no standard issue circulation currency has been issued since 2019.
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The South African Two Cents Coin (2c)
The South African Two Cents coin (abbreviated as 2c) was a small circulating coin of the Rand currency. Unlike the other denominations, it was not created at decimalisation on 14 February 1961 - there was a 2½ (two and a half cents) coin instead. When South Africa introduced its Second Decimal Coinage in 1965, there was a Two Cents denomination in it. This first type of Two Cents was made of bronze and was issued until 1990.
The first kind of bronze coins had a portrait of Jan van Riebeeck on the obverse and a legend in one language only; each year, two versions of the coin were issued - one in English and one in Afrikaans; this was also the case with the commemorative issue in 1968.
The obverse of the coin features the portrait of Johan Anthoniszoon van Riebeeck, known as Jan van Riebeeck (1619-1677), Dutch colonial administrator and founder of Cape Town and considered by many people to be the founding father of the South African nation. Below the neck truncation, the designer's initials T.S.
The reverse of the coin shows a bucking Wildebeest at its centre. Below the ground on the right, in small letters the initials of the designer J.v.Z.
South African 2 Cents Coin
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South Africa known formerly as ‘The Cape of Good Hope’ was administered as a Dutch colony between 1652 to 1795 by the famous Dutch East India Company. This continued until the British forces over ran the country and legalized the British currency from 1826. By 1795 there was a continuous deficiency for the small change. From this the 1797’s cartwheel pennies were launched in 1800 and were acknowledged as stuivers.
South Africa did not issue their first coin until 1892, however the production was ceased in 1919 due to the war of the British occupation. As a result all the South African Coins were based on British coinage as they were a colony of Great Britain. The British 3 pence was nick named ‘Ticky’.In the year 1806 to simplify the shortage of small coins, the ship guilder coins were sent into circulation.
An additional supply of pennies and shillings became apart of the circulation and the Spanish Dabloon was revealed for the first time. Before and after the announcement of independence in 1854 of the Orange Free State, South African coinage was widely used.
Some individuals accumulate coins by keeping in mind its chronological value. A lot of coin collectors are committed to collecting coins during a definite period of history such as the declarations of autonomy and wars. Coins can enlighten inimitable stories. Thus, South African coins have an immense historical value.
Moreover, some of the precious and collected South African coins are the Griqua, Mandela R5 coin, 6 pence ZAR and Krugerrand. The trade for coins in South Africa tolerates the access of the leading collectors and investors. South African coins took its cost more than millions of US dollars. There is no any doubt of a coin’s legitimacy, as their coins are separately marked and legitimated.
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The Story of the South African Rand: From Gold Power to a Struggling Currency #SouthAfricanRand
South African Gold sovereign Coins were minted under the Britsh empire. There were 220,000 ZAR coins and 6 pence were produced in the year 1892 until 1997. It is one of the popular mintage during that period. It portrays Paul Kruger, and it has .0841 oz of silver. Zuid Afrikaansche Republiek coins appeared during Boer War in the year 1899 until 1902.
The record behind the Krugerrand is that, South Africa presented the Krugerrands as one of their gold bullion coins since 1967 to serve the principle of providing the vast number of South African gold. The South African Krugerrand Coin was considered as an authorized tender gold bullion coin that brought exactly 1 oz of pure Gold.
The Mandela R5 coin is derived due to its developed power, by the worldwide trade name “Mandela”. In fact, Nelson Mandela is a part of the legend of South Africa and plays a considerable part in the history of South Africa. When the Mandela R5 coin becomes rare prospective generations will be fascinated by the legend as one of the best men that ever lived.
However, the current system of South Africa is based on decimal with the unit of money referred “Rand”.
Below is the listing of the coins that includes in circulation.
- 1 Cent (1/100 of a Rand)
- 2 Cents (2/100 of a Rand)
- 5 Cents (5/100 of a Rand)
- 10 Cents(10/100 of a Rand)
- 20 Cents (20/100 of a Rand)
- 50 Cents (50/100 of a Rand)
- 1 Rand (100/100, 1 full Rand)
- 2 Rands (200/100, 2 full Rands)
- 5 Rands (500/100, 5 full Rands)
The South African 5 shillings features the famous Springbok in the centre of the coin. It contains 0.800 grams of silver and weighs 28.28 grams. This was South Africa’s iconic silver coin and they minted just over 1.4 million coins between 1948 to 1950 with the majority minted between 1948 and 1949.
If 5 shillings was South Africa’s iconic silver coin, then the Krugerrand has been its iconic Gold coin. In 1919 when silver prices started to increase the silver content was reduced from 925 silver to just 50% pure silver.
South African Gold Coinage
The Krugerrand was first minted in 1967 and by 1980 this gold coin accounted for nearly 90% of all worlds gold coins. It has more orange appearance than the gold sovereigns that South Africa minted at Pretoria. In 1927 the SAM minted 16,379,704 gold sovereigns.
Sovereign gold coins were first minted in England in 1817 and the British colonies like South Africa, Canada and Australian minted this gold to the same exact engraving details as the original coin.
Krugerrand Coin Specification:
- The weight was 7.9881 grams
- Gold purity 22 carat which is 91.67 % Gold
- Gold content is 113 grams or .2354 troy ounce
The production started at 50,000 coins per annum, but in 1978 6 million coins were minted, but production became slower after the end of apartheid with international sanctions. Over 50 million Gold 22 carat Krugerrands have been sold including one ounce, half troy ounce, tenth ounce Gold coin when the South African Gold mines were in full production. It is interesting how the mint made the 22 carat Gold coins weight over one ounce, but the Gold ratio is exactly one-ounce pure Gold.
The South African Mint (SAM) at Pretoria has minted coinage since 1923 and is highly regarded and respected coinage of Silver and Gold coins. SAM also mints blanks for other countries in Africa and even helps African countries develop their own Silver coins or currency circulation coinage.
The South African antelope, the Springbok has been made famous on both Gold and Silver South African coins and is very popular for coin dealers and coin collectors worldwide.
| Year | Event |
|---|---|
| 1892 | First South African coin issued |
| 1919 | Coin production ceased due to war |
| 1923 | South African Mint (SAM) established |
| 1961 | Rand introduced as currency |
| 1965 | Second Decimal Coinage introduced, including 2c coin |
| 1967 | Krugerrand first minted |
| 1990-1995 | Coins bear coat of arms and name in English and Afrikaans |
| 1996 | Coins carry name in one of 11 official languages |
| 2000 | Coins feature South Africa's new coat of arms |
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