The decimalization of South Africa’s coinage took place just prior to South Africa becoming a republic on 31 May 1961.
The Rand was introduced in the then Union of South Africa on 14 February 1961.
Prior to decimalization, the money used in The Union Of South Africa were Pounds, Shillings and Pence.
The Rand which consists of 100 cents replaced the Pound. The 50 cents replaced the
5 shillings, while the 2 shillings was replaced by the 20 cents. The 1 shilling was replaced by the 10 cents and the 5 cents replaced the 6 pence, the 3 pence was replaced by the 2½ cents, and the 1 pence was replaced by the 1 cent. The ½ cent replaced the ½ pence.
The new coins were initially the same size as the older Union coins. All the coins, except the ½ cent and 1 cent were minted in silver.
The previous farthing (¼d) and half crown (2½s) were discontinued in the new decimal currency.
The 22 carat gold bullion 1 pound and half pound were replaced by the gold one rand (R1) and gold two rand (R2) in 1952.
The gold rand and pound were minted with the same specifications as their predecessors, the half sovereign and sovereign, which were also minted at The South African mint up to 1932.
The reverse of the gold one and two rand coins depicted the well known illustration of the Springbok designed by Coert Steynberg which was featured on the 5 shilling coin introduced in 1948.
The South African mint, issued 150 Krugerrand special launch sets in 2011 in order to commemorate the 50th anniversary of decimalization in South Africa.
The 2011 Krugerrand special launch set consists of a 1 ounce Krugerrand, which portrays the bust of Paul Kruger on the obverse of the coin, with the wording
Suid Afrika, South Africa. The reverse of the coin portrays the Springbok designed by
The special “privvy” or mintmark is, is the symbol’s of the Pound and Rand (£ R) which is located on the reverse of the Krugerrand above the back of the springbok.
A half ounce bi-metal medallion, which is made up of a ¼ ounce inner and 9g sterling silver outer ring is included in the set.
The obverse of the inner gold portrays a replica of a 1961 gold two rand (R2).
The reverse portrays the symbols for the old pound and the rand (£ R).
The outer ring has the wording, “50 year anniversary of the first decimal coin series.
The 50 year anniversary decimal launch Krugerrand is presented in a wooden case and is accompanied by a numbered certificate of authenticity.