It also announced that it had given its currency app a makeover to coincide with its 100-year birthday. The SARB was established in 1921 in terms of a special Act of Parliament the Currency and Banking Act 31 of 1920. It has the sole right to make, issue and destroy banknotes and coins.

The coin, which depicts the design of previously issued coins, was gazetted by the government on 27 November 2020. This commemorative R5 coin will circulate alongside existing coins and its value will remain the same as the existing R5 coin in circulation. The existing R5 coin in circulation will remain legal tender and will continue to be issued.

This is not the first commemorative R5 coin that the SARB has minted to celebrate the anniversary of its founding. In 2011, a R5 coin was minted to celebrate the SARB’s 90th anniversary. The design on the reverse of the R5 coin, featuring a banknote and five coins, depicted the history of the SARB and how South Africa’s currency mirrored the changing economic and political environment in the country. A sterling silver collector’s coin with a gold-plated centre was also issued to mirror the design of the commemorative R5 coin.