South Africa will no longer be making 5 cent coins, says Cabinet spokesperson Jimmy Manyi.
Briefing the media on Thursday, Manyi said at its ordinary meeting on Wednesday that Cabinet had noted the discontinuation of the production of the South African 5 cent denomination coin.
Further to this, the 10 cent denomination coin is to be replaced with a new 10 cent denomination coin with effect from April next year.
"The new proposed 10 cent denomination coin will remain the same size. The metal content will change from the previous bronze-plated steel to copper-plated steel. This will result in the reduction in cost of producing these coins," said Manyi.
Various commemorative coin designs for 2012 were also approved by Cabinet, including 2012 Natura series 24 carat gold coins, a 2012 R2 Crown to mark the Olympic Games and the Centenary of the Race to the South Pole. (via Buanews)