Tuesday, July 26, 2011

Malaysian Coins with new features from next year, 2012

(Anti-clockwise, from the top) the first series of coins minted in 1967;  the second series of coins which made their appearance in 1989; and  the third series of coins set to debut next year.
(Anti-clockwise, from the top) the first series of coins minted in 1967; the second series of coins which made their appearance in 1989; and the third series of coins set to debut next year.
KUALA LUMPUR: The third series of Malaysian coins will be available for circulation by early next year, 20 years after the current coins were launched.

The series of new coins comprising the five sen, 10 sen, 20 sen and 50 sen denominations are smaller and lighter, making it more user-friendly for the public.

Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz said vendors of cash handling machines would be given six months from now to calibrate their machines to accept both the use of old and new coins.

"Only when fully re-calibrated will we release the new coins," she said at a press conference to announce the issuance of the commemorative coins for the public to buy beginning yesterday.

The public can buy the commemorative coins at RM10 per set at Bank Negara's headquarters and its branches in Penang, Johor Baru, Kuala Terengganu, Kota Kinabalu and Kuching.

Zeti said the design of the new coins incorporated nature, flora and fauna and traditional handicraft.

"Not only do they look good but also are more efficient in terms of weight and size. The coins also have better security features making them difficult to replicate."

The five-sen and 10-sen coins, made from stainless steel, will be in silver colour, weighing 1.72g and 2.98g respectively.

The 20-sen coin, made from nickel brass, and 50-sen coin, made from nickel brass clad copper, will both be in yellow colour, weighing 4.18g and 5.66g respectively.

Zeti said Bank Negara was working closely with financial institutions, businesses and vendors handling cash to ensure a smooth transition to the new series.

"The old coins will gradually be phased out and the process will take years," she said, adding that the fourth series of the country's banknotes would be launched by the Prime Minister in September.

*Taken from NST Online

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