The history of the South African Mint dates back to more than 110 years ago when the first state mint in South Africa was established in Pretoria in 1892. With the discovery of gold in the Gauteng area (Johannesburg) in 1886, the then President Paul Kruger soon realized that the ZAR Republiek needed its own coins. The first coins were designed by Otto Schultz and were struck at the Berlin Imperial Mint in 1892. The Mint was built on the northwesterly corner of Church Square in Pretoria and was officially opened on 6 July 1892. When the British forces occupied Pretoria in 1900, the Mint was closed. An attempt was made to establish a mint at an abandoned goldmine near Pilgrims Rest using soft hand-cut dies and an improvised fly press. The “veldponde” (field pound) coins produced are among the most precious historical treasures today.
After the Anglo Boer War, the British currency became legal tender in the Transvaal and the Orange Free State. British currency was the accepted currency in South Africa when the four provinces became the Union of South Africa in 1910. There was a strong feeling amongst the mining and banking community that South Africa should have its own refinery and mint as this would negate the need to send South African gold overseas and import it as coinage. After many requests, dating as far back as 1902, the Pretoria Mint Act of 1919 provided for the establishment of a Royal Mint branch in Pretoria. The Royal Mint Pretoria, located at the corner of Visagie and Bosman Streets, was established when Prince Arthur of Connnaught struck the first gold pound on 3 October 1923. In 1941 the South African Government took over the Royal Mint and in 1961 a decimal coinage system was released.

During the eighties, the Government initiated the deregulation of State activities and the South African Mint was privatized, with the South African Reserve Bank as the holding company. The South African Mint Company (Pty) Ltd was established on 1 September 1988 as a wholly owned subsidiary of the South African Reserve Bank. It was clear that the Mint in Visagie Street would be inadequate to meet the future demand for coinage and as the premises did not lend themselves for further expansion, a decision was taken to relocate the Mint. The new Mint at Gateway, Centurion was completed in October 1990 and officially opened during October 1992.

For a more detailed history on the mint and South African coins, please see our Educational page