The South African Reserve Bank launched the 2015 R5 circulation coin last evening commemorating 200 years of coinage in South Africa. The Griqua themed coin celebrates Griquatown, in the Northern Cape Province, and its contribution to coinage in South Africa.
The Managing Director of South African Mint (SA Mint), Tumi Tsehlo, says no new security features have been added to the coin.
“We started to see an uptake in the counterfeiting of the R5 coin in 2002 which is why we introduced the bimetal R5. The equipment to make it is far harder to come across. We have far harder security features in place but we haven’t yet put them on this coin. Maybe next year or so we will add new security features,” says Tsehlo.
Tsehlo added that it will be difficult for people to get their hands on the commemorative R5 as only five million will be distributed.
The coin has the words “Coinage of Griqua Town” engraved on it together with an image of the original 1815 Griquatown coin and is dated 1815-2015.
SA Mint has no plans to phase out the 50c, 20c and 10c coins.
“A few years back we phased out the 2c and 1c coin and in 2012 we phased out the 5c coin. We have no plans to review the coinage series in South Africa at this point and time,” says Tsehlo.