| HISTORICAL EVENTS AT THE TIME UNION COINAGE WAS IN USE
The Great Depression of 1929 - 1933 was felt worldwide. South Africa did not escape its effects. Mines, factories, shops and small enterprises were closed. Maize exports dropped by 80%, wages dropped, and unemployment rocketed. South Africa 's plight was worsened by a serious drought in 1932-1933, one of the longest and harshest ever known. During this crisis, political issues were pushed to the background as the government tried to address the situation in the country. In November 1932 the Union of South Africa as it was then known, came of the gold standard. This had the desired result. Almost immediately the gold price rose, goldmine shares climbed and money started flowing back into the country.
Up to 1960, South Africa used the British system of 12 pennies to a shilling and 20 shillings to a pound (240 pennies to the pound). this coinage system dominated South Africa for more than a century as Lord Charles Somerset issued an ordinance as far back as 6 June 1825 declaring British Sterling as legal tender at the Cape (Arndt, 1928). This was part of a process to introduce a uniform monetary system for the British Colonies at the time. A shortage of coins nevertheless delayed this process for several years, but after 1848, only coins of the Sterling series were accepted. These coins became firmly entrenched throughout the whole of South Africa and even the Kruger coins, minted in the Transvaal Republic during 1892 to 1900, conformed to the British system (Engelbrecht, 1987).Source: Francois Malan
HIGH GRADED SET
RECENT AUCTION RESULT: $ 45 000 / R 650 000
OUR CHOICE NUMISMATIC OFFER
R 500 000
TO RESERVE
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