The South African Government and the South African Reserve Bank own the South African Mint. The complex is close to Pretoria, South Africa’s administrative capital. The South African Mint manufactures coins and planchets for domestic and international markets. The South African Mint is a subsidiary of the South African Reserve Bank, established by the Reserve Bank Act 90 of 1989.
The South African Mint was established in 1890 as the country’s first national Mint. Britain acquired South Africa’s control in 1923 and was recognized as a branch of the Royal Mint in a brief history. Later, in 1941, the South African Mint regained its independence. The Mint’s headquarters are in Centurion, Gauteng, South Africa, and the site is not far from Pretoria. The present South African Mint was founded in 1890.
When the Royal Mint ran, it produced around 83 million sovereigns in gold. The South African Mint issued its currency when the country gained independence from British colonial authority. The concept of bullion precious metals came onto the scene in 1964, and in 1967, the first gold Krugerrand coins were produced with the highest quality bullion.
What Will I Learn?
- History of the South African Mint
- Circulation Coins for South African Reserve Bank
- South African Bullion Coin
History of the South African Mint
In 1886, due to the Witwatersrand Gold Rush, the first Republic of South Africa was established, and the president, Paul Kruger, decided to establish a national mint for producing circulation coins. The Mint was based in Pretoria at that time. After the Boer War in 1902, South Africa became the Transvaal colony of the British empire. Then the Mint was closed, and the Royal Mint opened its branch instead.
With Royal Mint Act
The sterling pound was the legal tender of the colony, and by January 1923, the Royal Mint produced around eighty-three million sovereigns as British coins. In June of 1941, the South African Mint again started as its own and produced its own currency departing from the British Royal Mint.
South Africa’s Mint has a state-of-the-art facility and produces coins for South Africa and other countries. The base metal for the coins includes brass, copper, nickel, aluminum, bronze, etc. The Mint also produces collectibles and limited-edition coins. They are made of precious metals like gold, silver, platinum, and other non-precious metals. The coins depict the heritage, culture, design, and craftsmanship of South Africa.
Circulation Coins for South African Reserve Bank
The South African Mint has listed and produced a batch of circulation coins. Here we include a brief overview of them.
Five Rand Coins
The Black Wildebeest is portrayed on the reverse side of the coin. They are primarily available in the northern regions of South Africa, near Cape Town. The first R5 coins were minted in 1994. The 11 official languages of South Africa have been rotated with the coin.
Two Rand coins
This is part of the third decimal series and the one-cent and five-cent coins. A leopard design was featured on the coins, and later it was replaced with a Kadu, the king of antelopes and had magnificent horns to admire.
One Rand Coins
The design of the one rand coin was a Springbok, the national symbols, and the design of the coin was considered one of the best in the world. The coin was designed based on the work of the famous sculptor Coert Steynberg. Springbok is found in different parts of Africa, and even appears on 50-cent coins. SOLI DEO GLORIA is the words inscribed on the coins.
Five Cent Coins
The design of the five-cent African coin is based on the blue crane, the national bird of South Africa. The population of blue cranes in South Africa is declining, and G. Richard designed the model. The design was developed from a famous South African Mints Museum artwork.
Ten Cent Coins
The Arum Lily is on the reverse side of the coin, and the design first appeared in 1965. The design for fifty cents was taken from the artwork of Cynthna Letty. The plant is used medicinally and is nutritious to consume.
The Protea Cynaroids is the design for the twenty-cent coins, and this is one of the first distinctively shaped coins in South Africa as a Protea series. Here the protea plant is depicted with three flowers at different stages. It was also derived from a watercolor painting. Susan Erasmus developed the design for the coin.
The crane flower, or Bird of Paradise flower, symbolizes the fifty-cent coin. These flowers are available near Zululand and are bright orange and blue, and this is a popular florist plant. This was adapted from Cynthna Letty’s drawing and modeled by Linda Lotriet.
South African Bullion Coin
There are two famous coins as bullion for the South African Mint, and we include them below.
South African Krugerrand Coins
The South African Krugerrand coins were introduced in 1967, and by the 80s, the Krugerrand covered 80% of the gold investment market in the country and internationally. Until 1985, almost twenty-two million South African gold Krugerrand coins were made as an independent mint.
The coins were made up of 0.916 pure gold and had an orange appearance like the copper coins. The Krugerrand coins come from the name Kruger, after the name of Paul Kruger, a former South African President. Otto Schultz designed the famous Krugerrand coin.
The reverse side of the coin features the national symbol of South Africa, the Springbok antelope. Coert Steynberg designed it. The weight, purity, and country of the coin are engraved on the coin. The gold and silver Krugerrand coin have no face value marked by its official distributor, and the coin’s value is based on the gold spot price.
- 1 Ounce Of Gold South African Krugerrand Coins
- 1 Ounce Of Silver South African Krugerrand Coins
South African Sovereign Coins
This coin was produced in the South African Mint under the British Empire from 1923 to 1932. The South African Sovereigns are made up of 0.916 fine gold as British coinage. The obverse side features a portrait of George V, and the reverse side features St. George fighting a dragon. The image belongs to the Italian painter Benedetto Pistrucci. The South African Sovereigns have historical value and come as a rare collection of coins.
- South African Gold Sovereign
Other Silver and Gold Bullion Coins
- South Africa Big Buffalo
- South Africa Gold Natura Hyena
- South Africa Silver Big 5 Elephant Proof, Etc.
The South African Mint has been in operation for almost 120 years, claiming to have experience in bullion manufacturing for 100 of those years. The Mint was founded by Paul Kruger, South Africa’s first president, and the South African Krugerrand coins bear his name, making them one of the most famous bullion coins to date.