South Africa has a rich history of currency usage, formalised with the introduction of coin in the region in 1652. Since then the country has used different currencies and coins which were made from copper, silver and gold.
From 1956 to 1958, the Decimalisation Coin Commission explored the decimalisation of South African currency, with their recommendations adopted in the Decimalisation Coin Act of 1959.
Decimals – Coin system used in South Africa
First decimal coin series (1961–1964)
In 1961, when the Republic of South Africa was proclaimed, the country formally adopted a decimal system, with coins being converted to their decimal equivalent resulting in the one pound becoming a two rand coin, the one shilling a ten cent coin and the three pence a two-and-a-half cent coin. This system remained in place until 1964.
First Decimal Coin System for South Africa (1961 – 1964)
Second decimal coin series (1965–1988)
In 1965, the two-and-a-half cent coin was replaced with the two cent coin.
Between 1965 and 1969, coins had either the Afrikaans wording “Suid Afrika” or the English wording “South Africa”. In 1970, the image of Jan van Riebeeck was replaced with the coat of arms.
In the late 1980s, a committee was appointed to investigate the desirability of issuing a new series of banknotes and coin series for South Africa. This was due to the increase in the price of copper and nickel which resulted in the actual value and cost of producing newly minted coins exceeding the face value.
The new series of coins would be manufactured locally. In keeping with international standards, the new coins would be smaller and lighter. The government approved the design of a new series of coins that would be cheaper to manufacture and easier to handle.
First Decimal Coin System for South Africa (1961 – 1964)
Third decimal coin series (1989–today)
South Africa has six coin denominations in circulation, namely, the 10c, 20c, 50c, R1, R2 and the R5. These coins have different sizes. The 10c is the smallest at 16mm and the R5 is the largest at 26mm. An important consideration in having the different sizes and rim finishes was that visually impaired people could identify the particular denomination with their fingers when transacting.
Circulation coins are made of metal or alloy. These coins are used in everyday transactions, circulating alongside banknotes. Various ridges, rims, serrations and different metals on the coins are incorporated as part of the security features. Machines such as vending machines are programmed with software and sensors to recognise these circulation coins and to accept them accordingly.
Electroplated coins were introduced in 1989 as a solution to the escalating costs of materials and manufacturing and the increasing risk of falsification.
A bi-metal R5 coin was launched in 2004 to replace the R5 nickel coin
