SARB RELEASE NEW COIN IN HONOUR OF OR TAMBO

SARB RELEASE NEW COIN IN HONOUR OF OR TAMBO

In commemorating the birth centenary of Oliver Reginald Tambo, the South African Reserve Bank has launched a R5 coin honouring the anti-apartheid hero.

The bank also launched other collectable Tambo centenary coins at an event in Ekurhuleni.

”The late OR Tambo, played a pivotal role in the country’s struggle against apartheid. His stewardship of the liberation movement galvanised world opinion against the apartheid,” the SARB said on Wednesday.

”The new R5 coin, worth its face value, entered circulation from 1 of October 2017, the other collectable coins will be available from the South African Mint and authorised dealers from 27 October 2017, OR Tambo’s 100th anniversary.”

The back of the coin features a neck badge and walking stick. The obverse depicts the national coat of arms, year of issue and South Africa written in English and Xitsonga.

The soon to be released collectable coin range depict Tambo during his youth and presidency of the African National Congress. The coins will not be in circulation, are not redeemable at banks or for use to purchase products or services.

”This is the first time that the South African Mint is releasing a non-circulating, collectible legal
tender coin made from the same base metal used in other South African circulation coins,” the SARB said.

“The design has gone through the same approval process as other legal tender commemorative coins and has been approved by the Cabinet and the minister of finance, which makes it legal tender.”

ANA

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Oludare J. Olusan
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