South African pound

South African pound
Suid-Afrikaanse pond (Afrikaans)
£1 note from 1958
Unit
Pluralpond (Afrikaans)
Symbol£
Denominations
Subunit
120shilling (sjieling)
1240penny (pennie)
Plural
penny (pennie)pence (English)
Symbol
shilling (sjieling)s or /–
penny (pennie)d
Banknotes10/–, £1, £5, £10, and £100
Coins
 Freq. used14d, 12d, 1d, 3d, 6d, 1/–, 2/–, 2/6
 Rarely used5/–
Demographics
User(s) Union of South Africa
Basutoland[citation needed]
Bechuanaland Protectorate[citation needed]
Swaziland Protectorate[citation needed]
Stellaland
Goshen
Issuance
Central bankSouth African Reserve Bank
 Websitewww.reservebank.co.za
This infobox shows the latest status before this currency was rendered obsolete.

The pound (Afrikaans: pond; symbol £, £SA[1] for distinction) was the currency of the Union of South Africa from the formation of the country as a British Dominion in 1910. It was replaced by the rand in 1961 when South Africa decimalised.

In 1825, an imperial order-in-council made sterling coinage legal tender in all the British colonies. At that time, the only British colony in Southern Africa was the Cape Colony. As time went on, sterling and its associated coinage became the currency of every British territory in Southern Africa. At that time sterling followed the Carolingian monetary system of a pound divided into 20 shillings, each of 12 pence.

  1. ^ "Chapter 4: German-South African Experiencer under Special Exchange Agreements". Foreign-Trade and Exchange Controls in Germany. Washington D.C.: U.S. Government Printing Office. 1942. p. 242.