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
Made in South Africa: The Mara smartphone now sells at Vodacom

Made in South Africa: The Mara smartphone now sells at Vodacom

Mara smartphones are now available from Vodacom participating outlets. Bruce Whitfield interviews Ashish Thakkar, Mara's CEO.

Stage 6 loadshedding:  'I am surprised at the shock'

Stage 6 loadshedding: 'I am surprised at the shock'

Bruce Whitfield interviews economist Dr Thabi Leoka on Eskom's shock announcement late Monday afternoon.

Why Anchor Capital is buying MTN, Sibanye and Transaction Capital

Why Anchor Capital is buying MTN, Sibanye and Transaction Capital

The Money Show’s Bruce Whitfield asks Peter Armitage (CEO at Anchor Capital) for his stock picks of the week.

Want to start a small business? Lessons from a successful serial entrepreneur...

Want to start a small business? Lessons from a successful serial entrepreneur...

The Money Show’s Bruce Whitfield interviews Nic Haralambous, founder (at the cost of R5000!) of funky sock company Nic Harry.

Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

Popular articles
[WATCH] Fikile Mbalula's funny interview has social media in stitches

[WATCH] Fikile Mbalula's funny interview has social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.

 Eskom buys fine coal that looks like baby powder when wet, says expert Ted Blom

Eskom buys fine coal that looks like baby powder when wet, says expert Ted Blom

Energy analyst Ted Blom weighs in on the energy crisis in South Africa as load shedding stage 2 is implemented.

SA's Zozibini Tunzi simply the best, crowned Miss Universe 2019

SA's Zozibini Tunzi simply the best, crowned Miss Universe 2019

The 26-year-old is the third South African to be crowned Miss Universe and has made the country proud.

Want to start a small business? Lessons from a successful serial entrepreneur...

Want to start a small business? Lessons from a successful serial entrepreneur...

The Money Show’s Bruce Whitfield interviews Nic Haralambous, founder (at the cost of R5000!) of funky sock company Nic Harry.

Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

Former public protector says the eight-year sentence was too harsh and it shouldn't matter that he was not a Wits student.

‘South Africans are getting poorer and poorer because of politics’

‘South Africans are getting poorer and poorer because of politics’

SAA is a classic example, says Isaah Mhlanga, Chief Economist at Alexander Forbes Investments.

How to make your first R1 million (after that it just becomes so much easier)

How to make your first R1 million (after that it just becomes so much easier)

Rich. Wealthy. Financially free... Call it what you will; the first million is how you get there. Warren Ingram on his book...