Fri, 07 Jun 2019
The South African Reserve Bank and the South African Mint have launched a number of new circulation coins, celebrating South Africa’s 25 years of Constitutional democracy.
Speaking at a launch event on Wednesday (5 June), SARB governor Lesetya Kganyago said that the new circulation coins aim to highlight a few of the rights that resonated the most with citizens that were surveyed in South Africa.
“It is, in fact, the first time in the history of the SARB and the South African Mint that South Africans were consulted to this extent in developing coin themes and designs,” he said.
“I am told that, during the engagement with young South Africans, ‘our constitutional rights’ came up several times, which made this the overarching theme that we decided to depict on the coins. These perspectives were brought to life by some of the country’s most talented young artists who not only poured passion into the project but also captured the essence of the theme.”
Kganyago said that SARB has ensured the integrity of the banknotes and coins in circulation so that they remain a secure method of payment, a unit of account, and a store of wealth.
“A banknote is but a piece of paper, and a coin is but a piece of metal,” he said.
“Both derive their worth from the trust that the citizens of a country have in the country’s currency. The confidence that South Africans have in their banknotes and coins is based on trust that the banknotes and coins are authentic, and trust in the institution that issues.”