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
RAND Corporation corporation to compare demand for health services with their cost to the patient. According to the 2005 annual report, "about one-half of RAND's research involves national security issues". Many of the events in which RAND plays a part are based on assumptions which are hard to verify because of the lack of detail on RAND's highly classified work for defense and intelligence agencies. The RAND Corporation posts all of its unclassified reports in full on its website. Over the last 60 years, more than 30 Nobel Prize winners have been involved or associated with the RAND Corporation at some point