What Money is Made of in South Africa
How are South African Money made?
All South African banknotes are printed on cotton substrate and can be differentiated from one another by considering the dominant colour, animal theme and size. All banknotes and coins issued since 1961, by the SARB, remain legal tender in South Africa.
Where is South African money made?
The South African Bank Note Company was established in 1958 as a result of a decision by the South African Government to print South African currency locally. The South African Reserve Bank formed a joint venture with Bradbury Wilkinson and Company and commenced production from a factory in Pretoria.
Is money in South Africa backed by gold?
South Africa abandons the Gold Standard, sparking a period of economic expansion. As the Great Depression set in, many countries (including Great Britain) abandoned their gold standard and devaluated their currencies.
What does South African money consist of today?
Currently, we have coins of 1, 2, 5, 10, 20 and 50 cents and 1, 2, and 5 rands in circulation. Also, there are banknotes of 10, 20, 50, 100, 200 and 1,000 ZAR.
How South African coins are made?
All the raw materials are melted in the furnace and then cast through carbon dies into two strips which are then drawn through a milling machine where the hardened crust of the alloy is scalped and rolled up into 1, 5 ton coils ready for the rolling process.
