SEE: SA's new R5 coin launching this week
100-year-celebration of the South African Reserve Bank sees the introduction of this commemorative R5 coin.
In honour and celebration of 100 years of The South African Reserve Bank (SARB), a new commemorative R5 coin will launch on Wednesday 30 June.
Illustrated on this commemorative coin are the designs of previously issued coins dating from 1920s to the 2000s.
READ MORE: ANC blasts Mboweni for SARB tweets
It will not be put aside for 'special' use but rather circulate alongside the existing coins, and its value will remain the same as the existing R5.
Here is the 2021 R5 centenary commemorative coin:
READ MORE: SA Mint completes ‘Big Five’ series with buffalo coin
This the front and the back view of the R5 centenary commemorative coin:
READ MORE: Govt doesn’t have money to clear historic debt, says Nzimande
Some of the previously issued coin designs on this new R5 coin are:
- The 1923 three pence (tickey) represents the currency issued during the period of the Union of South Africa.
- he 1961 R1 gold coin featuring the springbok, South Africa’s national animal.
- The 1965 20c coin with the king protea, South Africa’s national flower
- The 1990 1c coin features two sparrows and represents the third decimal coin series.
- The R5 coin minted in 2008, honouring former President Nelson Mandela’s 90th birthday, recognises his vast contribution to South Africa.
- There's also the 10c coin from the fourth decimal series which depicts the Cape honey bee and represents the future of the currency and the SARB.
The Currency and Banking Act of 1920 provided for the establishment of a central bank in South Africa, with its main functions being the issuing of banknotes and taking over the gold held by commercial banks.
In May 1961 the Republic of South Africa was established, the same year South Africa exited the Commonwealth and changed its currency from pounds, shillings and pence to a decimal system of 100 cents in one rand.
The currency has since gone through significant technological and design changes, which are captured in the new R5 coin, the SARB said. The South African Reserve Bank (SARB) opened its doors on 30 June 1921 and is the oldest central bank in Africa.
We cannot wait to get our hands on this cool coin!
Main Image Courtesy: Supplied