From the Curatorial Desk · Decimal Banknotes
The Van Riebeeck series, 1967–1992.
South Africa's longest-running banknote series — and a portrait that wasn't who everyone thought it was.
The longest-running South African banknote series, introduced in 1967 and named after the first Dutch governor of Cape Town, Jan van Riebeeck, whose portrait graced the obverse of all denominations. The series evolved over twenty-five years, with new denominations and signature varieties reflecting the country's economic and political changes.
Edited byBen Ungerer & Johan Ungerer · The Jardines Curatorial Desk
Overview
Four Issue ErasWhen South Africa became a republic in 1961, the first decimal banknotes were issued, still bearing the portrait of Jan van Riebeeck1. In 1967, a new series was introduced, featuring refined designs and printed entirely by the newly established South African Bank Note Company in Pretoria25.
The series underwent several revisions over twenty-five years:
- First issue (1967 – 1977): R1, R2, R10, R20.
- Second issue (1975 – 1985): R5 added — design changes throughout.
- Third issue (1984 – 1991): R50 and R100 introduced.
- Final issues (1990 – 1992): Signature of C.L. Stals — new colours and security features.
Denominations & designs
Seven Notes| Note | Colour | Obverse | Reverse | Size |
|---|---|---|---|---|
| R1 | Green | Jan van Riebeeck · bilingual text | Mining scene4 | 127 × 63 mm2 |
| R2 | Blue | Jan van Riebeeck · grapes, leaves, vines | Ear of corn · Gariep hydroelectric dam near Norvalspont · high-voltage transmission towers2 | 127 × 63 mm2 |
| R5 | Purple (later purple/orange) | Jan van Riebeeck · Voortrekker Monument in Pretoria · trees and covered wagons pulled by cattle5 | Modern power plant cooling towers and town · train engine with ore cars · mine buildings and smokestacks5 | 134 × 68 mm5 |
| R10 | Red | Jan van Riebeeck | Trade and industry themes | — |
| R20 | Purple / brown | Jan van Riebeeck | — | — |
| R50 | Orange | Jan van Riebeeck | Added 19841 | — |
| R100 | Blue | Jan van Riebeeck | Added 19841 | — |
Signature varieties
Three GovernorsThe series spans the terms of three Governors of the South African Reserve Bank, each with distinct signature varieties.
Dr. T.W. de Jongh
— Notes —First issues of R1, R2, R5, R10, R20. His signature appears on notes with Afrikaans-predominant text25.
A 2 Rand note (Pick 118) sold for £38 in a mixed lot (London Coins, 2023)3.
Dr. G.P.C. de Kock
— Notes —Oversaw the introduction of R50 and R100 in 1984. His signature appears on many common varieties1.
A 1 Pound note (1946) with de Kock signature sold for £38 in a mixed lot (London Coins, 2023)3.
Dr. C.L. Stals
— Notes —His signature appears on later printings, with English predominating over Afrikaans and updated security features. The 5 Rand note (Pick 119e) from 1990 – 1994 is an example6.
A 5 Rand note (1990 – 1994, Stals signature) sold for £38 in a mixed lot (London Coins, 2023)3.
The portrait error
A Century of MisidentificationThe man on the note isn't Van Riebeeck.
The portrait on all Van Riebeeck series banknotes is not actually Jan van Riebeeck, but a Dutch military officer named Bartholomeus Vermuyden who died two years before Van Riebeeck sailed for the Cape. This misidentification originated in 1884 and was only formally corrected in 1985 — by which time the image had already been immortalised on South African currency for decades.
Read the full story of this numismatic error →Security features
Five Layers- Watermark. Portrait of Jan van Riebeeck, visible when held to light4.
- Security thread. Solid thread (later windowed) embedded in the paper4.
- Perfect registration. Some issues featured see-through print registration1.
- Microprinting. Introduced on later issues.
- Intaglio printing. Raised ink on the main design elements.
Collecting & value guide
UNC EstimatesValues vary significantly based on condition, signature variety, and prefix. The Greysheet catalog lists 318 distinct entries for the South African Reserve Bank series, with CPG® values ranging from $1.00 to $3,200.002. The following estimates are based on recent auction results and dealer listings.
| Note | Year · Signature | Grade | Value (UNC) | Source |
|---|---|---|---|---|
| R1 | 1973 – 1975 · de Jongh | UNC | €25 (~$36)7 | eBay sale7 |
| R2 | 1976 · de Jongh | UNC | $5 – $10 | Greysheet2 |
| R5 | 1975 · de Jongh | UNC | $10 – $20 | Greysheet5 |
| R5 | 1990 · Stals | UNC | $5 – $15 | Greysheet6 |
| R10 | 1967 – 1992 | UNC | $20 – $40 | Market average |
| R20 | 1967 – 1992 | UNC | $40 – $80 | Market average |
| R50 | 1984 · de Kock | UNC | $30 – $50 | Market average |
| R100 | 1984 · de Kock | UNC | $50 – $100 | Market average |
All banknotes issued by the SARB remain legal tender and retain their face value. They can be exchanged at commercial banks or at the SARB Head Office in Pretoria8.
Sources
Eight Catalogues & ArchivesBusiness Tech. How South Africa's banknotes have changed: 1994 to 2023 (2023).
Greysheet. Wmk: Jan van Riebeeck, Prefix D/133 – D/172, Intro: 1976, 2 rand Values.
London Coins. Auction realised prices archive.
Brandon Bertolli. Banknotes and their not-so-obvious features (LinkedIn, 2025).
Greysheet. Wmk: Jan van Riebeeck, Prefix F/229 – F/301 (odd denominators), Intro: 1975, 5 rand Values.
Greysheet. Sig 7: Stals, Prefix AA – CK, Intro: 1990, 5 rand Values.
eBay. Listing: 1973 – 1975 1 Rand UNC.
South African Reserve Bank. History of Banknotes and Coin.
Revision history
Living DocumentKeep exploring
Related ReadingFirst SARB series
The Clegg issues — the very first SARB notes (1921 – 1930s), printed before the Van Riebeeck designs took over.
Featured StoryThe Vermuyden error
The full story of how a Dutch military officer named Bartholomeus Vermuyden came to be the face of Van Riebeeck for over a century.
Next Era →Mamelodi series
The 1992 – 2012 transition to Big Five wildlife notes — the end of the Van Riebeeck era and the start of post-apartheid currency design.