INTRODUCTION

Although coins have been produced in South Africa for more than a century, the South African Mint’s facilities incorporates much modern technology making it one of the most advanced manufacturers of circulation coins and numismatic products in the world. In addition to minting all of South Africa’s coins, the company supplies coins and coin blanks to an increasing number of countries throughout the world and has built up a reputation for reliability, quality and innovation.

 

Traditional craftsmanship and artistic skills are equally important in the coin business. The South African Mint is proud to have received a number of awards for the design and quality of its gold and silver coins. Many of these coins depict themes from South Africa’s rich cultural and natural heritage and reflect the dedication and attention to details that the Company’s people devote to all its products.

 

HISTORICAL BACKGROUND OF THE SOUTH AFRICAN MINT COMPANY

The first Mint on South African soil was the mint of the Zuid-Afrikaansche Republiek (ZAR).

 

Paul Kruger, President of the ZAR, granted a concession in 1890 for the establishment of a mint, thus decreasing the shortage of circulation coinage as well as providing a means for the Republiek’s own currency. The building was constructed on the north-western corner of Church Square in Pretoria and the original corner stone, as laid by the President, can still be seen there today. The State Mint was opened on 6 July 1892 and production of coinage which was identical in weight with the prescription of the British Coinage Act of 1870, began in 1893.

 

The Anglo-Boer War broke out in 1899 and because of the annexation of the Transvaal by Britain, the Government had to evacuate Pretoria on 4 June 1900. As a result of the war, British currency became legal tender in all four colonies of the former Zuid-Afrikaanse Republiek and a huge shortage of circulation coinage was experienced. In 1919, the Mint Act (No. 45) was enacted which provided for the establishment of a mint in Pretoria as a branch of the Royal Mint, London. This mint was the first National Mint of South Africa and provided the whole country with coins. Ties with the Royal Mint were broken on 1 July 1941 and since then the establishment has been known as the South African Mint.

 

Coins with denominations from 1 Pound to a Farthing were minted in Pretoria from 1923 to 1960. On Tuesday, 14 February 1961, the monetary system was officially decimalized and the decimal series, which systematically replaced the sterling series, consisted of denominations from two rand (R2) to a half cent (½c).

 

During the 1980, the government launched its action of deregulation of governmental activities and the South African Mint was privatized with the South African Reserve Bank as the holder company. The South African Mint Company (Pty) Limited was established on 1 September 1988 as a full subsidiary of the South African Reserve Bank. The new South African Mint at Gateway, Centurion, was completed in October 1990 and was officially opened during October 1992.