Identification of counterfeit coins
The use of a magnet to determine if a coin is genuine or counterfeit is not reliable and should not be used as both genuine and counterfeit coins could be attracted to or repelled by the magnet.
The only accurate method of determining the authenticity of a coin is to conduct a chemical analysis of the coin. However, the public may detect such coin by scrutinising the visual details of the coin. A magnifying glass could assist with this process.
The finer detail on counterfeit coin is far less prominent than on genuine coin and counterfeit coin are dull in colour. The surface of the counterfeit coin is not flat but slightly rounded when compared with genuine coin. The waved line running horizontally in the centre of the Coat of Arms (on the obverse of a coin) is very indistinct on a counterfeit coin.
On the reverse of the R5 coin the platform on which the black wildebeest stands, as well as the finer detail of the animal are far less prominent than on a genuine coin.
Action by the public
Any person who is not certain if a coin is genuine can take such a coin to a branch of the Bank. Full details of where the coin was obtained should be disclosed for further investigation. Any person handing coin to an official of the Bank or the South African Police Services must obtain a receipt. Should coin be found to be counterfeit, such coin will be confiscated and genuine coin will be returned. No refund will be given by the Bank for any counterfeit coin.
Any counterfeit coin brought into the system is not legal tender and is worthless.
Please click here to view
examples of a counterfeit coin (A) and a genuine coin (B).
Kindly contact Mr C J van Zyl at +27 12 3133831 should you require further information.