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5 Emalangeni - Mswati III Central Bank
| Issuer | Central Bank of Swaziland |
|---|---|
| Year | 1999 |
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| Shape | Round |
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| Obverse lettering | SWAZILAND |
| Reverse description | Central device depicting the seal of the Central Bank of Swaziland within a circular border, featuring a traditional beehive hut (indlu), indigenous trees, a bull standing above the hut, and maize plants flanking the composition. The bank name CENTRAL BANK OF SWAZILAND appears within the inner circle. The legend 25th ANNIVERSARY arcs along the upper periphery, with the denomination 5 EMALANGENI along the lower periphery, and the founding and anniversary dates 1974 and 1999 flanking the central device at the mid-field. The Siswati word EMNTSHOLI appears as part of the commemorative inscription. |
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| Additional information |
Mswati III, who assumed the throne in 1986 at age eighteen following the death of his father Sobhuza II, ruled Swaziland as one of the world's last absolute monarchs — a political reality that made the central bank itself an instrument of royal authority rather than an independent institution. The 1999 issue came just two years after Swaziland revised its constitution to formally ban political parties, consolidating governance entirely under the monarchy.
KM#53 is a transitional brass issue in a series that previously used bimetallic construction, reflecting a cost-driven minting decision in the late 1990s as smaller southern African nations rationalized coinage expenses.