A Short History of Gold in the South African Monetary System

Standard Bank Ten Shillings - "Promise to pay the bearer on demand at their office in Durban, TEN SHILLINGS."

By Chris Becker To understand the Rand price of gold, one needs to understand the history of the Rand. From 1825 to 1961 the pound sterling was the official currency of South Africa. The South African Rand was introduced in 1961. According to Wikipedia: The pound sterling became the standard currency of the Cape of [...]