Description

The South African Reserve Bank has released new five-rand commemorative coins in celebration of the centenary anniversary of the founding of the country’s central bank. The South African Reserve Bank (SARB) was officially founded on the 30th June 1921 with the Currency and Banking Act 31 of 1920 which provided for the establishment of a central bank in South Africa. Its main functions were the issuance of banknotes and coins as well as managing the vast reserves of gold held by commercial banks. The South African Reserve bank is now the oldest central bank in Africa. In May 1961, when the Republic of South Africa was established, it was also the same year South Africa exited the Commonwealth and transitioned its legacy currency from pounds, shillings, and pence to a decimal system of 100 cents in one rand and two rand equalling one pound. The currency has since gone through significant technological and design changes and it is these design changes that capture the significant historical moments of South Africa.

Launched in 1989, the five-rand coin was part of the third series of decimal coins and which replaced the banknote of the same value. In 2004, a bi-metallic version of this denomination with improved security features replaced the nickel-plated steel coins.

Obverse

New national coat of arms for South Africa (adopted on 27 April 2000), the country name in Xhosa and in Afrikaans, two of the nine official languages in South Africa.

The Coat of Arms has many elements organized into two oval groups, one on top of the other. Together the two ovals create a symbol of infinity.

The Lower or Foundation Oval:
At the base is the motto "Diverse People Unite" written in the Khoisan language of the ǀXam people. On either side of the motto, pairs of elephant tusks. The tusks enclose two ears of wheat. At the centre is a shield. On the shield are depicted two Khoisan figures. The Khoisan are the oldest inhabitants of South Africa. The figures on the shield are based on the Linton Panel (a world-famous piece of rock art now housed in the South African Museum in Cape Town), and face each other in greeting and unity. Above the shield, a crossed spear and knobkierie (a traditional fighting stick) separate the lower oval from the upper oval.

The Upper or Ascendant Oval
At the centre is the South African National Flower, the King Protea. It is comprised of interlocking diamonds. The protea forms the chest of the secretary bird, whose head and wings stretch out above it. Between its wings, the rising sun.

uMzantsi Afrika • 2021 • Suid-Afrika
!KE E: ǀXARRA ǁKE
ALS

Reverse

Depicts five coins, depicting the history of the SARB and how South Africa’s currency mirrored the changing economic and political developments as follows:

1923: The three pence, or “tickey,” as they were colloquially called, represents the currency issued during the period of the Union of South Africa from 1910 to 1961 and before decimalisation. Prior to this time, the currency consisted of pounds, shillings, and pence. Under this system, there were 12 pence in a shilling and 20 shillings in a pound.

1961: A one-rand — R1 gold coin features the springbok. This coin represents the introduction of the rand as the official currency issued after South Africa became a Republic on 31 May 1961. The R1 coin formed part of the first decimal coin series. The springbok has featured on numerous coins and is especially recognised as the reverse design on the world-famous Krugerrand. The springbok is South Africa’s national animal.

1965: These cupro-nickel 20-cent coins were issued as part of the second decimal series depicts the king protea, South Africa’s national flower. These coins were replaced in 1989 with the introduction of the third decimal series in 1989.

1990: The one-cent coin featuring two sparrows represents the third decimal coin series. The design of two sparrows first featured on the quarter penny, or farthing, originally issued in 1923 and continued to be depicted on the smallest coin denomination within each South African coin range until 2002.

2008: The five-rand coin depicts former President Nelson Mandela on the occasion of his 90th birthday. President Mandela was the first president elected when majority rule was introduced in 1992.

Upcoming: A 10-cent coin, which is scheduled for introduction as part of the soon-to-be-released fourth decimal series, depicts the Cape honey bee and represents the future of the currency and the SARB.

SOUTH AFRICAN RESERVE BANK • 100 YEARS
1921
-
2021
5 RAND

Edge

Security edge with the initials of the South Africa Reserve Bank and the face value repeated 10 times

SARB R5 SARB R5 SARB R5 SARB R5 SARB R5 SARB R5 SARB R5 SARB R5 SARB R5 SARB R5

Characteristics
Type Commemorative Issue (Circulating)
Material Bi-Metallic
Ring Cupronickel
Center Brass
Weight 9.4 g
Diameter 26 mm
Thickness 3 mm
Shape round
Alignment Medal
Mint
South African Mint (SA Mint)

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