How Coins Are Made in South Africa?
What is a coin?
A coin is a small flat round piece of metal or plastic with an official stamp which is primarily used as money or a medium of exchange.
What are the examples of a coin?
1. Mandela Coin
2. Morgan Silver Dollar Coin
3. 1 oz South African Gold Krugerrand Coin
4. Canada 1 oz Gold Maple Leaf BU
What is the South African 10c coin made of?
South African 10 cent coins, first issued in 2012, are made of copper-plated steel.
How coins are made in South Africa?
The South African coins are production process involves five different stages:
In the first stage of the minting process, the required metal to manufacture coins is bought in either strips or coils. These coils are passed through a blanking press where it is punched into perfect small circles in the required size.
In the second stage, the blanks are softened in the furnace and are then washed and dried.
The trims are added to the edges of the clean blanks at the third stage.
In the fourth stage, the coins are stamped with their designated engravings and designs.
The coins are screened to weed out the wrongly shaped ones at the fifth stage. After that, the coins are counted by a counting machine as they are poured into canvas bags which will be stored in vaults.
Who prints coins in South Africa?
According to Section 14 of the SARB Act, the only institution authorised to print money in South Africa is the South African Reserve Bank (SARB).
Who makes the coins in South Africa?
The South African Mint, based in Centurion, Gauteng, is in charge of minting all South African rand coins on behalf of its owner, the South African Reserve Bank.
When did South Africa begin minting its own coins?
South Africa began issuing its own coinage in 1923, using pieces that were identical in size and value to those used in the United Kingdom.
