5c coin to be discontinued
South Africa's five-cent coin is to be phased out, says government spokesman Jimmy Manyi.
The cabinet had noted the discontinuation of production of the five-cent denomination coin with effect from April 1 next year, he told reporters in a briefing on the cabinet's last regular Wednesday meeting of the year.
The cabinet had also noted the replacement of the 10-cent denomination coin with a new coin with effect from the same date, he said.
The new proposed 10-cent denomination coin would remain the same size.
The metal content would change from the previous bronze-plated steel to copper-plated steel. This would result in the reduction in cost of producing these coins.
Manyi said the cabinet had also approved the SA Mint Company's Commemorative Coin Designs for 2012.
These coins included the 2012 Natura series 24-carat gold coins, the 2012 R2 (1/4oz) commemorative 24-carat gold coin, the 2012 R1 (1/10th) commemorative 24-carat gold coin and the 2012 R2 Crown size and 2½c (Tickey) silver coins.
Others were the 2012 R2 Crown - Olympics Games, 2012 R2 Crown - Centenary of the Race to the South Pole, and the 2012 50c, 20c, 10c and 5c sterling silver commemorative coins.
The coins would now be promulgated in a Government Gazette, Manyi said.