The Federation was formed in 1953, and the new currency was created in 1955 to replace the Southern Rhodesian pound which had been circulating in all parts of the federation (Southern Rhodesia, Northern Rhodesia, and Nyasaland).

The Federation broke up at the end of 1963 and the three territories reverted to being separate British colonies.

In 1955 a full new set of coins were issued with the Mary Gillick obverse of the Queen and various African animals on the reverse.

The higher denomination coins, though not particularly rare, are very popular with collectors because of their attractive reverse designs.

Threepences and halfpennies were struck in 1964 despite the fact the Federation ended on 31 December 1963.