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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 bore the forward-facing portrait of Jan van ...
The Krugerrand ( / ˈkruːɡərænd /; [1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. [2] [3] The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse ...
The 1 rand coin for circulation was introduced in 1967, followed by 2 rand coins in 1989 and 5 rand coins in 1994. Production of the 1 and 2-cent coins was discontinued in 2002, followed by 5-cent coins in 2012, primarily due to inflation having devalued them, but they remain legal tender.
The South African Mint is responsible for minting all coins of the South African rand on behalf of its owner, the South African Reserve Bank. Located in Centurion, Gauteng near South Africa's administrative capital Pretoria, the mint manufactures coins and planchets for both domestic and international markets. [2]
These included shells, [1] ingots, gold (gold dust and gold coins (the Asante)), arrowheads, iron, salt, cattle, goats, blankets, axes, beads, and many others. In the early 19th century a slave could be bought in West Africa with manilla currency; multiples of X-shaped rings of bronze or other metal that could be strung on a staff.
Bob Group. URL. www .bobshop .co .za. Launched. 1999. Bob Shop, formerly Bidorbuy or bidorbuy.co.za (officially written as one word, all-lowercase; variations: bid or buy, Bidorbuy and Bid or Buy), is a South African e-commerce website based on an internet auction and online marketplace. Transactions on Bidorbuy are in South African Rand.
In 1877, coins for 1, 2, 5, 10 and 20 cents were introduced, with the lower three denominations in copper and the higher two in silver. Coin production ceased in 1899 and did not recommence until 1911, with silver coins not produced again until 1934, when Re. 1 ⁄ 4, Re. 1 ⁄ 2 and Re. 1/- coins were introduced.
minted coins; coin blanks and medallions; semi-fabricated products for the jewellery manufacturing industry; By law, the South African Mint Company is the only company allowed to manufacture South African legal tender coins such as the world-famous Krugerrand. Rand Refinery supplies all the gold used to manufacture the coins.