Durban – Although the commemorative Nelson Mandela banknotes and coin will remain in circulation until they no longer meet the acceptable quality standards as determined by the South African Reserve Bank(SARB), the public have a limited amount of time to get their hands on them.
“Quantities for both commemorative banknotes and R5 circulation coin are limited, however, sufficient for every member of the public to experience them,“ said Radebe.
Radebe further explained that the commemorative money will be distributed for a period of approximately 6 months and will continue to be legal tender for as long as it is in circulation.
SARB launched a series of banknotes and R5 coin to honour the birth centenary of our first democratically elected president Nelson Mandela last week.
The banknotes highlight Madiba’s historical journey from the hills of the Eastern Cape, to Soweto, Howick, Robben Island and to the Union Buildings.
While the commemorative R5 circulation coin features a portrait of Madiba smiling.
“Nelson Mandela’s life has touched all of us, South Africans from all walks of life, rural and urban. What could be more fitting than to commemorate his life through an instrument that we all use every day?” said SARB governor Lesetja Kganyago.
A Currency Management mobile app was also launched as a platform to create greater public awareness of the security, technical and design features of banknotes.
The app features interesting details on the life and times of Madiba, aligned with the commemorative banknotes.
“The confidence that South Africans have in their banknotes and coin is based on trust that the banknotes and coin are authentic and trust in the institution that issues them,” Kganyago said.
Security features of the banknotes and coin
South African banknotes and coin are among the most secure in the world. The security features embedded in South Africa’s banknotes and coin represent the most innovative advances in global design and technology, with several noticeable security features, including:
- the ability to feel the raised lines on the front-bottom left and right-hand side of the banknote;
- two matching numbers on the back of the note;
- raised printing on Mandela’s face on the front of the note;
- a series of ‘little dots’ on the front left and back right of the notes;
- the shiny security thread down the centre of the note that should change colour when viewing it from a different angle; and
- a ‘complete animal’ on the bottom left of the note when holding it towards a light source.
When it comes to the commemorative R5 circulation coin, the ‘1918’ on the face of the coin should change to ‘2018’ when viewing it at an angle. The second security feature is to check whether you can see ‘SARB’ and ‘R5’ inscribed on the outer edge of the coin.
“It is important that South Africans know these security features of our banknotes, and the SARB is making a special effort to educate the public in this regard. Please take note of our ‘look, feel, tilt’ approach to checking for the security features and verifying the authenticity of your money, said Kganyago.