Silver Rand In Demand
(N.Z.P.A. -Reuter—Copyright) JOHANNESBURG. South Africa’s most popular coin, the silver one-rand piece (10s), has gone “underground.” In Johannesburg, it is to be found only on the black market, while in the United States clamouring coin collectors are paying two rands (£1) for it. Anyone who asks for a onerand piece in a Johannesburg bank or shop gets a wry Mona Lisa smile. No-one will part with one for one rand. Its present market value is 1.2 S rands. Two million one-rand coins have already been struck but, unless the Minister of Finance (Dr. Donges) changes his mind, no more will be struck this year. This decision has already given the one-rand piece a rarity value throughout the world comparable with the scarce Canadian silver dollar, which is now selling at 2.50 dollars and of which 10 million were struck last year, and'the silver Kennedy halfdollar, which is now selling at eight times its face value. Thousands of the one-rand coins are leaving South Africa for New York, where they are sold in rolls of 20. Americans buy them as an investment, because they are certain that the price will rise.
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Bibliographic details
Press, Volume CVI, Issue 31085, 14 June 1966, Page 7
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194Silver Rand In Demand Press, Volume CVI, Issue 31085, 14 June 1966, Page 7
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