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In 1923, South Africa began to issue its own coins, adopting coins that were identical in size and value to those used in Great Britain: 12 pence (12d) = 1 shilling (1s), and 20s = 1 pound (£1). On 14 February 1961, the Union of South Africa adopted a decimal currency , replacing the pound with the Rand .
The Florin was the currency of the British colonies and protectorates of East Africa between 1920 and 1921. It was divided into 100 cents . It replaced the East African rupee at par, and was replaced in turn by the East African shilling at a rate of 2 shillings = 1 florin.
In 1965, the East African Currency Board was breaking up, and the South Arabian dinar replaced the shilling in the South Arabian Federation at a rate of 20 shillings to 1 dinar. [2] [6] The shilling was also used in parts of what is now Somalia, Ethiopia, and Eritrea when they were under British control. Before 1941, these areas, then known as ...
In 1951, the silver coinage switched to .500 fineness. Gold bullion £ 1 ⁄ 2 and £1 coins were issued from 1952 in the same specifications as the 1 ⁄ 2 and 1 sovereign. All the coins had the monarch on the obverse, with the titles in Latin, while the reverse had the denomination and "South Africa" written in English and Afrikaans.
The rand replaced the pound with a decimal currency: 100 cents (100c) = 1 rand (R1), 1 rand being valued at 10 shillings and 1 cent at 1.2 pence. The coins bore the forward-facing portrait of Jan van Riebeeck on the obverse. [1] The initial circulation coins of the Republic were the following: [2] 1 ⁄ 2 cent (approximately replaced 1 ⁄ 2 d)
The British florin, or two-shilling piece (2/– or 2s. ), was a coin worth 1 ⁄ 10 of one pound , or 24 pence . It was issued from 1849 until 1967, with a final issue for collectors dated 1970.
The Bank of Africa, Barclays Bank and the National Bank of South Africa also issued notes. These private bank issues ended in 1938. These private bank issues ended in 1938. In 1939, the Southern Rhodesia Currency Board introduced 10/–, £1 and £5 notes, followed by 5/– notes between 1943 and 1948 and £10 in 1953.
In the 16th and 17th centuries, 24 schillings equalled 1 gulden and, from the 17th century, 48 schillings made 1 thaler. This latter division of 1 thaler = 48 schillings each of 12 pfennigs applied in the two Mecklenburg states until the introduction of imperial currency in 1871, with the thaler then being counted as 3 new marks.