First Issue
1782 (VOC handwritten notes)
Private Banks
30+ institutions (1825‑1921)
SARB Series
8 major issues since 1921
Polymer
Introduced 2023
South African Banknotes
A comprehensive guide to the paper money of South Africa – from handwritten Dutch colonial notes (1782) to the latest polymer series. The South African Reserve Bank, established in 1921 as the oldest central bank in Africa, has sole authority to issue banknotes.
Key Facts
- First paper money: 1782 (Dutch guilder)
- Private banks issued notes 1825‑1921
- SARB founded 1921 – first notes 1922
- Decimalisation: 1961 (pound → rand)
- All banknotes since 1961 remain legal tender
Featured Story: The Face That Never Was
The face on the notes – Bartholomeus Vermuyden
The Face That Never Was: The Jan van Riebeeck Portrait Error
For decades, South African banknotes bore the image of Jan van Riebeeck – the "founder" of the Cape Colony. There was only one problem: the man in the portrait was not Van Riebeeck at all, but a Dutch military officer named Bartholomeus Vermuyden who died two years before Van Riebeeck even set sail for the Cape.
Affected series: Pre‑decimal (1948‑1960), First decimal (1961‑1967), Van Riebeeck series (1967‑1992)
Read the Full StoryHistory Overview
Dutch settlers introduced the guilder in the 1600s, but the first paper money appeared in 1782 when coinage became scarce – handwritten notes that remained in circulation only briefly. In 1806, Britain took control of the Cape, and sterling became the basis of the currency.
An imperial order‑in‑council of 1825 made sterling coinage legal tender throughout the British colonies. From 1825 to 1921, numerous private banks issued their own notes, including the Cape of Good Hope Bank (founded 1837), the Bank of South Africa, and others. The National Bank of the Zuid‑Afrikaansche Republiek (ZAR) also issued notes in the Transvaal.
The South African Reserve Bank (SARB) was established in 1921 as the oldest central bank in Africa. Its first banknotes were issued on 19 April 1922. The pound remained the currency until decimalisation on 14 February 1961, when the rand was introduced at the rate of R2 = £1. The name "rand" derives from "Witwatersrand", the ridge where most of South Africa's gold is found.
Major Banknote Series (1921–Present)
According to the SARB archives, South Africa has released eight issues of banknotes since 1961.
️ Pre‑1921
- Pre‑1921 Private Banknotes – The era of free banking (30+ banks)
First SARB (1921–1930s)
- First SARB Series – W.H. Clegg and J. Postmus issues
- Dr. Johannes Postmus – Second Governor biography
️ Van Riebeeck Series (1967–1992)
- Van Riebeeck Series – The longest‑running series
- The Portrait Error – The face was not Van Riebeeck!
Mamelodi Series (1992–2012)
- Mamelodi Series – First Big Five notes
️ Mandela Series (2012–present)
- Mandela Series – Featuring Nelson Mandela
Polymer Notes (2023–present)
- Polymer Notes – First plastic banknotes
Emergency & Special Issues
Anglo‑Boer War (1899–1902)
- Siege Notes – Mafeking, Kimberley, Ladysmith
- Concentration Camp Notes – POW camp currency
Griqua Issues
- Griqualand‑East £1 Note (1868) – The unissued currency
Other Fiscal Items
- Postal Orders & Fiscal Items – Revenue stamps, bonds, scripophily
Banknote Printers
- South African Banknote Printers – Complete guide to Bradbury Wilkinson, De la Rue, SABN, and international collaborators
Security Features – "Look, Feel and Tilt"
The SARB has made it easier to authenticate genuine banknotes using three simple steps. For a detailed guide on security features across all series, see the individual series pages.
LOOK
- Watermark: Main motif and denomination visible when held to light
- Security thread: Continuous embedded thread with microtext
- Perfect registration: Elements align perfectly when held to light
FEEL
- Texture: Distinctive crisp feel and sound
- Raised print: Intaglio printing creates tactile texture
- Tactile marks: Raised diamonds help visually impaired identify denominations
TILT
- Colour‑shifting ink: Denomination value changes colour when tilted
- Shimmering gold band: Reveals Coat of Arms and denomination
- Hidden image: Geometric shapes form an image when held horizontally
Special Case: Pre‑2005 R200 Notes
In May 2010, the SARB withdrew the pre‑2005 "Big Five" R200 banknotes from circulation due to widespread high‑quality counterfeiting. Commercial banks no longer accept these notes, but the SARB's Johannesburg Cash Centre continues to exchange them for face value.
Exchange location: SARB Johannesburg Cash Centre, 57 Ntemi Piliso Street, Newtown, Johannesburg. Open Tuesdays & Thursdays, 9:00 AM – 1:00 PM. Direct cash‑for‑cash exchange only.
Fascinating Facts
- 11 languages: South African banknotes are the only currency in the world to feature all 11 official languages.
- The face that wasn't: The "Van Riebeeck" portrait on notes from 1948‑1992 actually depicts Bartholomeus Vermuyden.
- Regional use: The rand is also legal tender in Eswatini, Lesotho, and Namibia as part of the Southern African Common Monetary Area.
- Oldest central bank: The SARB, founded in 1921, is the oldest central bank in Africa.
- All notes remain legal tender: No South African currency has been demonetised – all notes issued since 1961 retain their face value.
Sources
- South African Reserve Bank. "Banknotes and Coin FAQ"
- South African Reserve Bank. "Banknotes"
- Brand South Africa. "South Africa's new banknotes" (2005)
- Business Tech. "How South Africa's banknotes have changed: 1994 to 2023"
- Cape Town ETC. "SARB clarifies process for old R200 notes" (2025)
- Rijksmuseum. "Portrait of Bartholomeus Vermuyden"
- Roberts World Money. "The Mistaken Face of South Africa"