Two Rand Gold 1962, Coin from South Africa - detailed information

The South African gold Two Rand coin (abbreviated as R 2) is a bullion coin of the Rand currency. It was introduced when the currency was decimalised in 1961 and replaced the earlier pre-decimal pound coin, retaining its design, dimensions and metal content.

All the coins of the First Decimal Series initially had the same size and specifications as the former South African pre-decimal coins they replaced. Apart from the regular circulating coins, two bullion types with denominations of 1 Rand and 2 rand were also issued, replacing respectively the South Afircan gold half-pound and pound coins introduced in 1952. Both the pound and the rand gold coins matched the specifications of the British half-sovereign and sovereign - minted, among others, at the Royal Mint branch mint in Pretoria (now the South African Mint) until 1932. The gold alloy, known as "crown gold", with a fineness of 22 carat (91.67% gold, 8.33% copper) has remained unchanged since 1526; it is appreciably less prone to wear than the softer 23 kt gold of earlier gold sovereigns.

The reverse of the gold rand coins features the well-known springbok illustration designed by Coert Steynberg for the 5-shilling coin introduced in 1948, and also used on the silver 50 cents coins.

The gold Two Rand denomination was issued until 1983 and was then discontinued in favour of the Krugerrand bullion coin series. Regular circulating R2 coins were introduced in 1989, made of base metal.

The gold coins have not been demonetised and are still legal tender; however, their intrinsic bullion value is much higher than their face value.