JOHANNESBURG, July 27(Xinhuanet)-- South Africa's central bank launched a new 5 rand coin with added security features in Pretoria on Tuesday in a bid to outsmart counterfeiters.
"The bi-metal 5 rand coin has distinct security features which will make it easier for the public to distinguish between good coins and counterfeit coins," South African Reserve Bank governor Tito Mboweni said at the SA Mint Company.
The new coin, seven million of which would come into circulation from next Monday, sports a silver-colored border with a bronze-colored center.
The central bank has given an assurance that the two parts should not separate with normal handling.
The new 5 rand is thicker and heavier than the existing one, but retains the black Wildebeest logo on one side and coat of armson the other. Micro lettering now appears on the border of the coin and on its rim. The rim also features a"security groove" enclosed by serrations.
Before minting the first official new coin, Mboweni stressed that the existing 5 rand coin would remain legal tender. The two coins would exist side by side until the old one gradually"fades away."
The governor said the problem of counterfeiting of the 5 rand coin had not been"that big," but the fact that it had occurred required something to be done.
Authorities were trying to stay one step ahead of the"gangsters", he said, warning the public to stay clear of people offering to exchange their old 5 rand coins for new ones, and urging them to get to know the new security features.
The governor also unveiled a special 2 rand coin to commemorateSouth Africa's 10 years of democracy celebrations.
Instead of the usual image of a Kudu, the 2 rand sports the"ten years of freedom" logo and would also be legal tender. A totalof 18 million rand of commemorative 2 rand coins would be available from next Monday.
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