SA is getting new coins
COINS are set for a major makeover next year after the Cabinet approved amendments to the fourth decimal coin series of South Africa.
“The Cabinet has approved the dimension, design and compilation of the 2023 fourth decimal coin series of South Africa. It approved the annual rotational system of the usage of the official languages on the series,” the Government Communication and Information System (GCIS) said.
The word “South Africa” will be inserted on one side of the coins and printed in all the official languages.
“Three languages will be used on the R5 coin; two languages on R2; 50c, 20c and 10c coins and the R1 coin will be in one language.
“All these languages will be used on an annual rotational basis over the next 10 years,” the GCIS added.
South Africa is now using the third decimal coin series, introduced in 1989.
The SA Reserve Bank (SARB) website said South African currency has evolved from the early days of bartering. South Africa’s currency usage was formalised with the introduction of coins in 1652. Since then, the country had different currencies and coins made from copper, silver and gold.
From 1956 to 1958, the Decimalisation Coin Commission explored the decimalisation of South African currency, with its recommendations adopted in the Decimalisation Coin Act of 1959. “In 1961, when the Republic was proclaimed, the country formally adopted a decimal system, resulting in the one pound becoming a R2 coin, the one shilling a 10c coin and the three pence a two-and-a-half cent coin. This system remained in place until 1964.”
Currently, South Africa has six coin denominations in circulation – the 10c, 20c, 50c, R1, R2 and the R5. The 10c is the smallest at 16mm; the R5 is the largest at 26mm.
According to the SARB, different sizes and rim finishes ensure that visually impaired people can identify the particular denomination with their fingers when transacting. Circulation coins are made of metal or alloy with various ridges, rims and serrations as security features. Electroplated coins were introduced in 1989 due to escalating costs of materials and manufacturing and the increasing risk of falsification. In 2004, a bi-metal R5 coin replaced the R5 nickel coin.