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The Reserve Bank of South Africa (SARB) has announced plans to introduce a new R5 coin in celebration of its 100th anniversary in 2021.
The central bank said that the coin will be manufactured and issued in legal tender from January 1, 2021. The reverse of the coin will include some of the historical coins previously issued by the SARB in miniature.
These include the old 20 cent coin and the over image of the R5 coin showing Nelson Mandela laughing. The oldest coins are all connected by a smaller “coin” that highlights the 100 years of the Reserve Bank.
The obverse of the coin also features the traditional coat of arms, the name of the country in two official languages: ‘uMzantsi Afrika’ and ‘Suid-Afrika’, as well as the printing date of 2021.
The SARB issues commemorative coins in circulation from time to time as part of its coin production function. These coins are issued to commemorate a person or an event that has had a significant impact on society.
These coins are always produced in large quantities and are available and accessible to the public at face value.
In 2019, the Reserve Bank of South Africa and the Mint launched a series of newly circulated coins, celebrating 25 years of South Africa’s constitutional democracy.
The R2 coins are intended to highlight some of the rights that resonated the most among citizens surveyed in South Africa: children’s rights, the right to education, and environmental rights, among others.
The R5 coin represents the first national elections in 1994.
Read: 9 things that have become much more expensive in South Africa in the last year
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