Monday, May 9, 2011

New coins in Israel

The Bank of Israel is planning to change the country's current series of coins after 25 years, following a recent government decision to change all of the State's banknotes.

The decision is aimed at preventing forgeries, reducing the cost of the metal used to manufacture the coins (current production costs of the 10 agorot and 50 agorot coins are almost equal to their nominal value) and changing the current name "new Israeli shekel" to the previous name "shekel" on all new coins issued.

The plan is to issue a whole new series of coins with new designs, which have yet to be decided on. The central bank's advising committee will discuss the new design.
The new coins will enter circulation within 2-3 years.

LINK: Israel News
LINK: Globes
LINK: Virtual Jerusalem

(information by Pabitra Saha)

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