In 1961 when South African became a Republic and the Queen was no longer head of state, the Pound was replaced by the Rand currency. Initially the exchange was £1=R2, sixty years later the exchange rate is £1=R20.
The first banknotes had heads of Jan van Riebeeck, recognised as a founder of South Africa by the nationalist government, on the obverse. In 1992 the fourth series of notes were issued, and a white rhinoceros replaced Jan van Riebeeck on the R10 note. The note remained green, with agriculture on the reverse. New R10 notes were issued in 2005, still in green with agriculture on the back, but in 2012, Nelson Mandela’s head replaced all notes on the observe side, and the rhino moved to the reverse.
Bank notes are printed using an intaglio process. In this exhibition case, a section of the South African banknote has been enlarged and cut and printed in relief, as was Dürer’s initial print.
