2002-03-28: Cessation of minting of 1 Cent And 2 Cent Coins
Last Modified Date:
2020-10-08, 08:14 PM
Media > Media Releases
1. It is hereby advised that the minting of South African 1 cent and 2 cent coins and their continual distribution for circulation by the South African Reserve Bank will cease on 31 March 2002. This is consistent with a decision which was taken by the Cabinet in July 2000.2. All existing South African 1 cent and 2 cent coins will remain legal tender in the Republic of South Africa. Accordingly, all banks, persons and businesses will be and are obliged to continue to accept these coins as legal tender in the Republic of South Africa. 3. Evidently, many businesses operating in the Republic of South Africa have indicated a preference to round off transactions to the nearest 5 cents, in the public interest, whenever they are unable to give change in 1 cent or 2 cent South African coins.