Coins of the South African rand Coins of the South African rand The coins of the South African rand are part of the physical form of South Africa's currency, the South African rand. In 1961, South Africa 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 rand was introduced in the then Union of South Africa on 14 February 1961, shortly before the establishment of the Republic on 31 May 1961. The coins bore the forward-facing portrait of Jan van Riebeeck on the obverse. The initial circulation
James Rand Jr. Irving Fisher), Safe-Cabinet Co. (which had invented the fire-proof safe), Library Bureau, Inc. (which had invented the filing cabinet), Dalton Adding Machine and Baker-Vawter Ledger. For a brief time in 1926, the company was known as Rand Kardex Bureau, Inc. In 1927, James Rand Jr. merged his company with the Remington Typewriter Co. (which had invented the noiseless and electric typewriters) and changed its name to Remington Rand. Company sales grew from $5 million in 1927 to $500 million in 1954. James Rand, Jr.'s wife, Miriam, died in 1927. He married the former Evelyn Huber in 1929. Rand was named