The South African Reserve Bank (SARB) has announced plans to introduce a new R5 coin in celebration of its centenary in 2021.
The central bank said that the coin will be manufactured and issued for legal tender from 1 January 2021. The reverse of the coin will feature some of the historic coins previously issued by the SARB in miniature.
These include the old 20 cents coin as well the more image of the R5 coin showing a laughing Nelson Mandela. The older coins are all connected by a smaller ‘coin’ highlighting 100 years of the Reserve Bank.
The obverse of the coin features the traditional coat of arms as well, the name of the country in two official languages – ‘uMzantsi Afrika’ and ‘Suid-Afrika’, as well as the 2021 printing date.
The SARB issues commemorative circulation coins from time to time as part of its currency production function. These coins are issued to commemorate a person or an event that has had a significant impact on society.
Such coins are always produced in large quantities and are made available and accessible to the public at face value.
In 2019, the South African Reserve Bank and the Mint launched a number of new circulation coins, celebrating South Africa’s 25 years of Constitutional democracy.
The R2 coins aim to highlight some of the rights that resonated the most with citizens surveyed in South Africa – depicting children’s rights, the right to education and environmental rights, among others.
The R5 coin depicts the first national elections in 1994.