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
The RAND Journal of Economics journal in the spring of 1970 with the name The Bell Journal of Economics and Management Science. From 1975–1983 it was titled The Bell Journal of Economics. In 1984, after transfer to the RAND Corporation, it acquired its present name. The RAND Journal of Economics The RAND Journal of Economics (usually called Rand Journal or simply Rand ) is a peer-reviewed scholarly journal of economics published quarterly by Wiley-Blackwell on behalf of the RAND Corporation. The journal's purpose is "to support and encourage research in the behavior of regulated industries, the economic analysis of organizations, and more generally, applied microeconomics".