SA Reserve Bank Has Been Issuing Currency For 100 Years
Prior to 1921 the various commercial banks were responsible for bringing new notes and coins into circulation. In 1921, in its 10th month, the SA Reserve Bank (SARB) issued its very first official notes.
That year SARB became responsible for the production, issuing and destruction of local currency. Until 1961 that was the SA Pound which reflected the relationship to the British Empire and commonwealth. In 1961 a new more local currency was issued called the Rand.
‘In 1961 a new local currency was issued called the Rand’
The new currency, which we are all familiar with, took its name from the area where South Africa had found the most gold, namely the Witwatersrand. Many of the images on the original notes (such as the one above) showed or related to mining, industry and the Witwatersrand area.