2013 Silver R2 Crown Proof Coin Union Buildings 100th Anniversary and the 2011 R5 Proof Silver Bi-Coloured 90th Anniversary
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A GREAT SILVER DEAL SILVER - AN ASSET CLASS -------------------------------------------------------- 2013 100 YEAR ANNIVERSARY A MIGHTY PROMOTION OF THE MASTERFUL UNION BUILDINGS DESIGNED BY SIR HERBERT BAKER THE UNION BUILDINGS ARE ONE OF THE MOST RECOGNISED BUILDINGS IN SOUTH AFRICA
YOU CAN BUY IT RIGHT NOW A LIMITED ISSUE COIN NOW FOR ONLY R 850 A VALUABLE OPPORTUNITY TO OBTAIN THIS LOW MINTAGE PROOF COIN THAT USUALLY SELLS IN THE MARKETPLACE FOR R 1 200 + GET IT NOW FOR A LOW PRICE !!! Available - call to confirm !!! GET YOUR'S - BEFORE THIS PROMOTION ENDS SILVER AT A REASONABLE PRICE FOR 100 YEAR ANNIVERSARY OF THE UNION BUILDINGS Details:
Description: The Union Buildings currently houses the President, the National Planning Commission and Performance Management and Monitoring and Administration.In 1910 Sir Herbert Baker was commissioned to design a building which was to become the administrative centre of the Government of the Union of South Africa, then known as the Union. It was intended to house the entire public service for the Union and was the largest building in the country at the time, and possibly the largest building work undertaken in the southern hemisphere at the time. It was completed in 1913 and is still recognised as an architectural masterpiece. 90 YEAR ANNIVERSARY THE SOUTH AFRICAN RESERVE BANK (SARB) WAS ESTABLISHED AS THE CENTRAL BANK OF THE UNION OF SOUTH AFRICA IN 1921
composite image is the copyright of Randburg Coin only YOU CAN BUY IT RIGHT NOW A LIMITED ISSUE COIN NOW FOR ONLY R 750 A VALUABLE OPPORTUNITY TO OBTAIN THIS LOW MINTAGE PROOF COIN THAT USUALLY SELLS IN THE MARKETPLACE FOR R 1 000 + GET IT NOW FOR A LOW PRICE !!! Available - call to confirm !!! GET YOUR'S - BEFORE THIS PROMOTION ENDS SILVER AT A REASONABLE PRICE FOR 90 YEAR ANNIVERSARY OF THE SOUTH AFRICAN RESERVE BANK (SARB) Details:
Description: The Reserve Bank is the central bank of the Republic of South Africa. The Bank was established in 1921 in terms of a special Act of Parliament, the Currency and Banking Act, 1920 (Act No. 31 of 1920).
Prior to the Bank's establishment, commercial banks in South Africa issued banknotes to the public. There was however no uniformity in the legislation providing for the issuance of banknotes by commercial banks. The only requirement was that issuing banks were obliged to convert notes held by the public into gold when banknotes were tendered at their branches.
After the First World War (1914 - 1918), the price of gold in the United Kingdom rose above its price in South Africa and a profit could be made by converting banknotes into gold in South Africa and selling the gold in London. Commercial banks had to buy gold at a higher price in London (for re-import into South Africa to back their banknotes in issue) than the price at which they converted their banknotes into gold. This "obligation to trade at a loss" posed a serious threat to the ability of banks to continue meeting their obligations.
To protect their financial viability, the commercial banks requested the Government to release them from the obligation to convert their banknotes into gold on demand. This led to the Gold Conference of October 1919. Following the recommendations of the Conference, a Select Committee of Parliament recommended the establishment of a central bank to assume, among other responsibilities, responsibility for the issuing of banknotes and for taking over the gold held by commercial banks.
The South African Parliament accepted the recommendation of the Select Committee on the creation of a central bank and promulgated in December 1920 the Currency and Banking Act, which provided for the establishment of the Bank. Effect was given to its various provisions in the course of the next six months and the Reserve Bank opened its doors for business for the first time on 30 June 1921.
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