Date: 27/07/2004
Source: South African Reserve Bank
Title: T Mboweni: Launch of new R5 and R2 coins


STATEMENT BY MR TT MBOWENI, GOVERNOR OF THE SOUTH AFRICAN RESERVE BANK, AT THE LAUNCH OF THE NEW R5 COIN AND COMMEMORATIVE R2 COIN, SA Mint, Midrand, 27 July 2004

Ladies and gentlemen, honoured guests. Welcome to the South African Mint.

Today we take this opportunity to announce to the people of South Africa that the South African Reserve Bank will be issuing a new R5 coin on Monday, the 2nd August 2004. The coin will be in circulation from that date. This new R5 coin is a bi-metal coin with a silver-coloured border and a bronze-coloured centre.

The bi-metal R5 coin has distinct security features, which will make it easier for the public to distinguish between good coins and counterfeit coins. The South African Reserve Bank encourages all South Africans to familiarise themselves with the features of the coin so that they are able to recognise its distinctive features. Both the current silver-coloured R5 coin and the new bi-metal coin issued by the South African Reserve Bank will be legal tender. The two coins will, therefore, circulate simultaneously. The current R5 coin will gradually and naturally fade away.

The bi-metal R5 coin looks substantially different to the current R5 coin. It consists of two different coloured metals and is thicker and heavier than the current R5 coin. The artistic design of the coin has remained largely the same as the current R5 coin with the image of a Black Wildebeest or Gnu on one side and the South African coat of arms on the other side. Micro lettering appears on the coin and there is lettering around the rim of the coin, making it easy for people to identify.

Also on the 2nd August we are issuing a commemorative R2 coin to celebrate the political, social and economic transformation South Africa has undergone in the past decade. This coin is a circulation coin and will be used as normal currency. However, only a small number of these coins will be minted.

The commemorative R2 coin has the design of the 10 years of freedom logo depicted on the reverse side instead of the image of the Kudu on the usual R2 coin. The Coat of Arms appears on the obverse of the coin.

We would like to thank you for showing an interest in our currency and for coming to the Mint this morning.

I now hand you over to Tonie Naude from the Mint to describe the design and the features of the bi-metal coin.

For further information, contact:
Cathy Powers
Tel: (012) 313 4420
Cell: 084 516 7987
Themba Hlengani
Tel: (012) 313 4669
Cell: 072 462 5015
Issued by: South African Reserve Bank
27 July 2004
Source: South African Reserve Bank (http://www.reservebank.co.za)