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
Ayn Rand Institute Ayn Rand Institute The Ayn Rand Institute: The Center for the Advancement of Objectivism, commonly known as the Ayn Rand Institute (ARI), is a 501(c)(3) nonprofit think tank in Irvine, California that promotes Objectivism, the philosophy developed by Ayn Rand. Its stated goal is to "spearhead a cultural renaissance that will reverse the anti-reason, anti-individualism, anti-freedom, anti-capitalist trends in today's culture". The organization was established in 1985, three years after Rand's death, by Ed Snider and Leonard Peikoff, Rand's legal heir. ARI has several educational and outreach programs, which include providing intellectuals for public appearances, supporting Objectivist campus clubs, supplying