Govt launches new R5 coins
David Masango
21 July 2004
Government will embark on a publicity campaign to make people "know their money" in an effort to win back public confidence in the local currency following the problems experienced with the counterfeiting of R5 coins.
The South African Reserve Bank and the Government Communication and Information System will distribute posters and pamphlets informing the public about the features of the new R5 coin and the commemorative R2 coin.
The GCIS's Directorate: Local Liaison and Information Management will distribute 3 000 A2 posters about the R5 coin and 2 000 posters about the R2 coin.
In addition, 10 000 A4 pamphlets will be distributed across the country.
As part of new security measures to curb counterfeiting, the new R5 coin was manufactured using two different kinds of metals and is bronze and silver in colour.
Other features include the black wildebeest (gnu) on the one side, the Coat of Arms on the other, a security groove
on the rim side with "SARB R5" engraved in it and "SARB" engraved around the edges of the coin on the head side.
The new bi-metal coin will still have the year on which it was manufactured and the words "South Africa", which would be rotated each year among the official languages.
It will circulate simultaneously with the "old" R5 coin until the latter is filtered out of the system.
The GCIS said the new coin will serve to restore confidence in the local currency and the value of the R5 coin.
"The general public has partly lost confidence in trading in R5 coins due to the incidents of counterfeiting, and this is evidenced by members of the public carrying a magnet to test the "authenticity" of the coins," it said.
Regarding the commemorative R2 coin, the SARB wanted to use this limited edition coin to celebrate the ten years of freedom. Only 18 million of these R2 coins will be minted.
The coins will become legal tender on 1 August while
circulation will commence on 2 August.
Meanwhile, the poster and pamphlet campaign will target the general public, especially those that use coins on a daily basis such as taxi and bus commuters, retail shops, municipal halls and council offices, hospitals and health centres, as well as at Multi-Purpose Community Centres.
Posters will be placed at regional events, at information centres, as well as at taxi and bus ranks from next Wednesday.
Television, radio and print advertisements will also be used. Commercial banks will also develop their own communication channels, while SARB branches will also enhance the campaign.
Source: BuaNews
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