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Last Updated on 03/23/2025

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South Africa Mint &
South African Bullion

Ever since its discovery in the 1880's, gold has been the main force behind South Africa's growth.  Gold mining has produced enormous income for the country and attracted huge foreign investments.  Directly or indirectly, gold mining has lead to the development of the railroads and many manufacturing industries. 

Founding the South African Mint

South Africa's First Mint
(1890 - 1900)

When gold was discovered near Johannesburg, SA in 1886, President Paul Kruger realized that the country needed to produce its coins.

The South African Republic's parliament granted a concession to a consortium of Dutch, German and British investors in 1890 to establish the National Bank of the South African Republic.

The National Bank also obtained permission to operate a mint, the two were built on the northwestern corner of Church Square in Pretoria, and was officially opened on 6th of July 1892.

British Annexed South Africa
1902

British Royal Mint builds a Mint
1919

Royal Mint closes, South African Mint opens
1941

A New Republic

In 1961, the country ceased to be a member of the British Commonwealth.

The Republic of South Africa was proclaimed.  In the same year, South Africa stopped the British decimal coin system in the country.

The coins were converted to a decimal equivalent. The half-pound became the Rand, and the R2 (2 Rand) coin replaced the Sovereign and the R1 (1 Rand) coin replaced the half sovereign.

These two coins may be seen as South Africa's first gold bullion coins. The last R1 and R2 gold coins were minted in 1983.

Privatizing the South African Reserve Bank and the Mint

During the 1980's, the South African Government initiated the deregulation of State activities, and the South African Mint was privatized, with the SA Reserve Bank as the holding company.

In 1988, on the 1st of September, the South African Mint Company (Pty) Ltd was established as a full subsidiary of the SA Reserve Bank.

The old Mint was inadequate to meet the future demand for coinage.

At the time, the place where the old Mint was located did not allow for further expansion, so the decision was made to relocate the Mint.

The new Mint was built in Centurion, Gauteng Province, south of Pretoria. It was completed in 1990 and officially opened in October of 1992.

The South African Mint Company (Pty) Ltd. (SA MINT) is the official mint of the Republic of South Africa.

SA MINT manufactures coins on behalf of the South African Reserve Bank (pictured), including South African Bullion.

Rand Refinery Limited

In 1920, the Rand Refinery was established by the Transvaal Chamber of Mines to refine all gold mined in South Africa.

It is the World's Largest single-site gold refining and smelting complex.

The South African Reserve Bank authorized the Rand Refinery Limited as the sole entity to sell South African Bullion from source to primary distributors worldwide.

The Gold Krugerrand is minted by the South African Mint from gold blanks supplied by the Rand Refinery Ltd.

The Rand Refinery Ltd. is owned by many of the leading South African gold mining companies.

Sources: South African Mint & Rand Refinery

Gold Krugerrand
South African Bullion Coins

Krugerrand Gold Bullion Coin - 1oz. & Fractional Bullion Coins

Silver Krugerrand
South African Bullion Coin

1oz. Krugerrand Silver Bullion Coin

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