Author Topic: Solomon Islands: New Series of Coins from July 2012  (Read 12105 times)

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Offline Bimat

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Solomon Islands: New Series of Coins from July 2012
« on: January 31, 2012, 02:15:20 PM »
Solomons to replace its coins

Posted at 01:43 on 31 January, 2012 UTC

The Solomon Islands Central Bank has announced that the current set of coins will be replaced in July.

The Solomon Star says the changes will be the country’s first since the introduction of decimal currency in 1977.

The Bank’s Governor, Denton Rarawa, says the manufacturing costs of coins have become unsustainably high especially as there is also a persistent coin shortage.

He says a public survey revealed people want new coins that are smaller and lighter.

Mr Rarawa says 1, 2 and 5 cent coins will no longer be produced, and 10 cents, 20 cents, 50 cents, 1 dollar and 2 dollars coins will be new.

The Royal Australian Mint will be producing the new coins.

News Content © Radio New Zealand International
PO Box 123, Wellington, New Zealand

Source: RNZI
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Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #1 on: January 31, 2012, 02:17:44 PM »
More detailed information:

New coins coming soon

TUESDAY, 31 JANUARY 2012 04:29

The Central Bank of Solomon Islands (CBSI) yesterday announced that the Solomon Islands will replace its current set of circulation coins with attractive new coins in July this year.

Over time, the cost of making and supplying the current coins has exceeded the face value of the coins.

Last year, CBSI conducted an extensive coinage review and also sought the views of the people in the country’s first-ever national coinage survey.

“The review confirmed that manufacturing costs of coins have become unsustainably high especially as there is also a persistent coin shortage in the country,” said CBSI Governor Denton Rarawa.

“The public opinion survey revealed that the people want new coins that are smaller and lighter.

“We are also going to take this opportunity to create awareness about the need to keep coins in circulation so as to avoid further shortages.”

These coinage changes will be a first for the Solomon Islands since the introduction of decimal currency in 1977.

“Much has changed in terms of coinage materials and trends in 35 years,” said Governor Rarawa.

“All of the current coins will be removed and replaced by new coins, taking into consideration the results from the review and the public opinion survey.”

“The 1, 2 and 5 cent coins will no longer be produced. CBSI will introduce five new coins in July - 10 cents, 20 cents, 50 cents, 1 dollar and 2 dollars.

The Royal Australian Mint will be producing the new coins for the Solomon Islands. More information on the new coins including sizes, shapes, weight, materials, colour and designs and the distribution and withdrawal process will be released in the coming months.

Source: Solomon Star
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #2 on: January 31, 2012, 03:08:41 PM »

"More information on the new coins including sizes, shapes, weight, materials, colour and designs and the distribution and withdrawal process will be released in the coming months."


So they MAY be new designs, but it's not definite. I do like the current designs, but I always like to see new ones too.

There are already so many changes in the pipeline for a lot of other countries' coinages. I have added the details to this topic:

Planned Major Changes to World Circulation Sets in 2012/2013



See also:

Changes I have on my radar (until more precise details emerge)
« Last Edit: March 09, 2012, 12:54:46 AM by coffeetime »

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #3 on: January 31, 2012, 03:18:25 PM »
So, in the Australasia/Oceania region:

1] New Zealand updated its coinage in 2006.

2] Samoa updated its coinage in 2011.

3] Fiji updated its coinage in 2009 and will issue its updated coinage (no Queen's head) in June 2012.

4] Tonga will update its coinage by 2013.


That leaves only Australia, Papua New Guinea, and Vanuatu with coinage that has not been overhauled for some decades.
We might also include the users of the Pacific Franc: French Polynesia; New Caledonia; and Wallis and Futuna. 
« Last Edit: February 01, 2012, 12:07:20 AM by coffeetime »

Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #4 on: January 31, 2012, 03:50:34 PM »
As far as Australia is concerned, they must reduce the size as well as weight of their 50c coins. They are too bulky!

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #5 on: January 31, 2012, 10:57:51 PM »
As far as Australia is concerned, they must reduce the size as well as weight of their 50c coins. They are too bulky!

Aditya

True. Rather hypocritical of them to be reducing the Solomon Islands' coins for them when they've never done it for themselves, and stealing the Royal Mint's business into the bargain. The RM did their coins the first time round, and Fiji's, and (Western) Samoa's.

Offline Enlil

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #6 on: January 31, 2012, 11:47:47 PM »
Hay I like my 50 cents, they are like weapons. Oh and who would steal $100 worth of them, they would be tired just running 100 metres. The circulation life is the longest of our coins and the flan is large, good for commemorative.

translateltd

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #7 on: January 31, 2012, 11:59:19 PM »
Given that the Solomon Islands dollar is worth less than a fifth of its NZ counterpart, it makes sense to get rid of coins that are the same size as our old ones/the current Aussie ones.  Their new smallest coin at SBD 0.10 will still be equivalent to about NZD 0.017, or less than our long-defunct 2c piece.

Coin shortages probably weren't alleviated by a couple of NZ dealers clearing out the central bank of its stocks of 1c and 2c coins a few years ago.


Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #8 on: February 13, 2012, 02:01:04 PM »
Solomon Islands warns of counterfeits and announces new coins

Solomon Islands public warned about counterfeits in circulation; central bank also announces new coins to be issued.

Author: Central Banking Newsdesk
Source: Central Banking | 13 Feb 2012

The Central Bank of Solomon Islands (CBSI) sent out a warning at the end of January about counterfeit notes in circulation in the country, while also announcing a replacement set of coins will be introduced in July 2012.

The central bank issued a reminder for the public to "properly check" the security features of banknotes before accepting them after a shop owner in the capital city Honiara discovered a fake SI$100 note.

"CBSI believes a number of counterfeit $100 Solomon Islands currency notes are currently circulating in the country. These counterfeits were likely produced by a computer scanner or a highly sensitive colour photocopier," says a statement on the central bank's website.

The key security features people are urged to look for are the watermark image of the eagle and the lettering CBSI, which should "come out clearly into view when the note is held against light"; a complete security thread that should be visible in the centre of the notes; and a silver hologram next to the Solomon Islands Government Coat of Arms.

Meanwhile, on January 27, the CBSI announced the Solomon Islands is set to replace its current set of coins in circulation with new ones in July this year.

"Over time, the cost of making and supplying the current coins has exceeded the face value of the coin," said the bank. Last year, the CBSI conducted an "extensive coinage review" and also sought the views of the public in the country's first-ever national coinage survey.

"The review confirmed that manufacturing costs of coins have become unsustainably high, especially as there is also a persistent coin shortage in the country," says CBSI governor Denton Rarawa, and "people want new coins that are smaller and lighter".

The new coins will be the first to be issued in the Solomon Islands since the introduction of decimal currency in 1977.

"Much has changed in terms of coinage materials and trends in 35 years," says Rarawa.

The central bank says all the current coins will be removed and replaced by new coins. The 1, 2 and 5 cent coins will no longer be produced, while in July, five new coins – 10 cents, 20 cents, 50 cents, 1 dollar and 2 dollars – will be introduced.

The Royal Australian Mint will be producing the new coins for the Solomon Islands.

Source: Central Banking
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Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #9 on: March 29, 2012, 05:40:35 AM »
Mint strikes coins for Solomon Islands


Thursday, March 29, 2012 » 05:48am

Australia's currency coins producer is continuing its expansion into the Pacific region with a new print for the Solomon Islands.

The Royal Australian Mint will strike new coins that will enter circulation in the Pacific nation from early July.

It is the second international contract for the mint following a deal with Samoa in mid-2011.

Treasury parliamentary secretary Bernie Ripoll says it's an important sign for the future of the mint among international notes and coins producers.

'With the mint's significant upgrade to its facilities and technology in 2009, it now has the capacity to accept contracts from other countries without encroaching into its normal, day-to-day functions,' Mr Ripoll said in a statement on Thursday.

Royal Australian Mint chief executive Ross MacDiarmid says the contract gives long-term benefits for the currency maker.

'The mint is honoured to have been repeatedly engaged to supply new circulating coinage to our Pacific Island neighbours, and be trusted with something as important as creating designs that reflect a country's culture,' Mr MacDiarmid said.

The Solomon Islands central bank governor, Denton Rarawa, walked the factory floor to strike brand five new coins.

Mr MacDiarmid says the designed and produced coins by the mint are low in cost and reflect a more modern Solomon Islands.

Source
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #10 on: March 29, 2012, 02:16:56 PM »
So, the new coins are already in production. Once again, I am wondering about the designer. I didn't expect to find out the name of the designer of the Samoan circulation coins of 2011, but Figleaf listened to an Australian radio programme and dsicovered that it was Wojciech Pietranik. Did Pietranik design these new coins from the Solomon Islands also? And will he design Tonga's next circulation set? Or will some other designer be given a turn?

Offline Gerhard Schön

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #11 on: March 30, 2012, 09:33:44 AM »
I didn't expect to find out the name of the designer of the Samoan circulation coins of 2011, but Figleaf listened to an Australian radio programme and dsicovered that it was Wojciech Pietranik. Did Pietranik design these new coins from the Solomon Islands also?

For Samoa, Wojciech Pietranik only made the reverses of the 10, 20, 50 Sene and 2 Tala. The reverse of the 1 Tala was created by Aaron Baggio, and all obverses were done by Vladimir Gottwald. The new Solomon Islands 10, 20, 50 Cents and 1 dollar coins are of the same designs as before, while the new 2 dollar coin with bokolo design was made by Aaron Baggio.
« Last Edit: May 01, 2012, 10:49:37 AM by coffeetime »
Source: Schön's World Coin Catalogue 46th edition 2018.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #12 on: March 30, 2012, 11:38:33 AM »
Excellent. Thank you, Gerhard.

Yes, the existing Solomon Islands designs make a fine set. The Royal Mint told me the reverse designs are by David Thomas. I have been unable to find out anything about him, since there are various artists called David Thomas. I did read that the late English numismatic artist (and designer of jewellery) Avril Vaughan studied under somebody called David Thomas, but I have no way of knowing whether that was the same person.

Apparently Fiji will be next in Oceania to issue new coins: a new design series in this case, to be issued in June 2012.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #13 on: May 01, 2012, 10:52:08 AM »
From http://www.cbsi.com.sb/fileadmin/press_releases/2012-04.pdf

The obverse of all new coins will feature the effigy of Her Majesty Queen Elizabeth II designed by Ian Rank-Broadley. This effigy replaces the Raphael Maklouf design used in the old coins.

The reverse designs will be:

10 CENTS – SEA SPIRIT
The new 10 cent coin retains the sea spirit design that is on the current 10 cent coin. The design portrays the sea spirit Ngoreru from Temotu province in the Eastern Solomon’s.

20 CENT – PENDANT
The new 20 cent coin retains the pendant design on the current 20 cent coin. The design depicts a traditional pendant design of Malaita province.

50 CENT - EAGLE
The new 50 cent coin features the eagle design on the current 2 cent coin. The eagle spirit symbolises deity in various communities in Solomon Islands.

$1 DOLLAR – NGUZU NGUZU
The new $1 dollar coin retains the nguzu nguzu design of the current 1 dollar coin. The design portrays a carving of the spirit Nguzu Nguzu from the Western province. It portrays good luck and protection.

$2 DOLLAR - BOKOLO
The design features a bokolo from Western and Choiseul provinces. The bokolo is made from fossilised clam shells and was traditionally used as a form of money. It is featured in the $2 coin and represents the many different forms of traditional money used in Solomon Islands.

On 27 January 2012, Governor Rarawa announced that the Solomon Islands’ current coins will be replaced by five attractive new coins in July this year. The five new coins will be launched on 4 July 2012 and will be available from banks on the next day, 5 July 2012.

Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #14 on: May 16, 2012, 07:49:31 AM »
Central Bank Deputy Governor calls for free circulation of new coins


Wednesday, 16 May 2012 10:01

The deputy governor of central bank has called on the public to circulate and handle with care our new coins which will be launched in July this year.

Gane Simbe made these comments at the launching of the Bank’s 2011 annual report last week at the Kitano Mendana Hotel.
He said producing of new minted coins every year is costing the country a lot of money therefore everyone must be responsible to look after these coins and ensure they are circulated freely in the economy.

“It has cost the bank $44 million dollars to produce the country’s new coins last year which will be available in the economy after its launch on the 4 th of July this year,”  the deputy governor said.

He added that in order for the country to spend less money on producing new coins every year, people must not keep these coins locked away, but allow it to freely circulate within the economy.

The economy on several occasions in the past has experienced shortage of coins in the economy, forcing the bank to produce more new coins which are very expensive.

Shortage of coins in the economy indicates people are not banking their money in the banks but hid it away somewhere which affects the free flow of coins within our local economy.

Source: Solomon Star News
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.