The Science Of ... , Evergreen Content

'No R10 coin yet. But it’ll be smaller than the R5 when it comes'

This collectors' coin portrays Nelson Mandela as a young and passionate lawyer.

…our purpose is to deliver coins reliably to the South African public and the Reserve Bank at the lowest price possible.

Tumi Tsehlo, South African Mint

We’re still some distance away from having a R10 coin in South Africa. It certainly comes up for discussion from time to time… We would make sure it’s a much better looking, probably smaller than the R5 coin.

Tumi Tsehlo, South African Mint

South African Reserve Bank owned South African Mint – located in Centurion - is responsible for minting all coins of the South African Rand.

Its mandate includes making a profit and has, since 1996, produced coins for 50 countries.

It has minted 60 million Krugerrands, more than all other gold coins together.

The Money Show’s Bruce Whitfield interviewed South African Mint Managing Director Tumi Tsehlo.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We are expected to make money [profit]…

Tumi Tsehlo, South African Mint

Each Krugerrand ever minted was produced by us… More than 60 million units since 1957… More than all the other bullion coins together…

Tumi Tsehlo, South African Mint

Our main mandate is to ensure people have coins to transact in the economy… a secondary mandate is to depict South African heritage…

Tumi Tsehlo, South African Mint

We’ve made coins for more than 50 countries since 1996.

Tumi Tsehlo, South African Mint

There are 50 mints in the world… We compete very hard against one another, but we also collaborate… There are few export mints in the world, we are one of them.

Tumi Tsehlo, South African Mint

If you melt our coins you will get far less than the face value…

Tumi Tsehlo, South African Mint

We get one order each year [from the SA Reserve Bank]…

Tumi Tsehlo, South African Mint

We’ve got roughly about R5 billion of coins in circulation…

Tumi Tsehlo, South African Mint

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
The 50th annual World Economic Forum is about to end. It’s been a weird one

The 50th annual World Economic Forum is about to end. It’s been a weird one

SA missing in action. Trump vs Thunberg. Stakeholder capitalism. A wrap of our coverage of this year’s World Economic Forum.

Your entire economy was hijacked! How many are in prison? – Richard Quest, CNN

Your entire economy was hijacked! How many are in prison? – Richard Quest, CNN

The Money Show’s Bruce Whitfield conducts a shocking interview with CNN’s Richard Quest at the World Economic Forum in Davos.

Positioning your business for success

Positioning your business for success

Positioning your business for success - what does this phrase even mean?

Is SA Express next in line for business rescue?

Is SA Express next in line for business rescue?

SAA has been placed in business rescue and this is placing SA Express in a risky position.

#WEF2020:  Bruce Whitfield live from Davos

#WEF2020: Bruce Whitfield live from Davos

CNN business editor Richard Quest pulled no punches about South Africa when Bruce Whitfield interviewed him in Davos earlier.

This is how you should invest your money for the next decade

This is how you should invest your money for the next decade

Personal Finance - Tips on how to invest your money.

Popular articles
Fitness was a career that chose me - 'Queen Fitnass'

Fitness was a career that chose me - 'Queen Fitnass'

Mapule Ndhlovu opens up about her life journey and how exercise changed not only her body, but her mindset for the better.

[WATCH] Tshwane bystander 'poses' for the camera, has social media laughing

[WATCH] Tshwane bystander 'poses' for the camera, has social media laughing

Khabazela shares tweets and Facebook posts that have gone viral.