Changes to circulation coinages: expectations for 2024

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What changes might we expect to circulation coinages in 2024?

Here is my top prediction: the issue of the Caribbean guilder will be delayed yet again, despite having been promised since 2011.

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Which countries will redenominate their currencies?

My top four candidates are Indonesia, Iran, Lebanon, and Uzbekistan.

However, Iran is anything but dynamic, and Lebanon is looking increasingly like a failed state.

So that just leaves Indonesia and Uzbekistan.


What does our currency-watching forum member Pabitra think?

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Most unexpectedly, the UK has adopted a thematic wildlife series under King Charles III.

Some Commonwealth realms and most British overseas territories will adopt a portrait of Charles III on their coinage. This is also a certainty for the crown dependencies of Jersey, Guernsey, and the Isle of Man. But will any of these take the opportunity to update their reverse designs at the same time? My guess is that they will not. What do you think?

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Over time, countries add higher denominations to their coinages and demonetise coins of lower denominations.

This means that coinages generally get larger and heavier over time. Eventually, some coins are reduced in size.


I see the following countries as the top candidates for coin size reduction:

Algeria; Australia; Bosnia-Herzegovina; Burundi; Comoros; Costa Rica; Denmark; Djibouti; Dominican Republic; Gambia; Haiti; Jordan; Madagascar; Papua New Guinea; Suriname; and Tunisia.

Australia remains stubbornly conservative in this regard, though, and PNG won't do it until Australia does it.

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I expect new standard sets for the Isle of Man, Gibraltar and possibly the Falkland Islands next year.

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Oman.




Qatar.




Kuwait.

Which countries will issue new design series?


Some countries of North Africa and the Arab peninsula could be candidates.

The coin designs of that region have become more adventurous in recent years.


However, some coinages there still have common obverse and reverse designs.

Oman, Kuwait and Qatar have had the same boring designs for years.


But countries tend to be influenced by their neighbours.

Will they remain conservative or maybe produce a thematic set in 2024?

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Costa Rica.

There are also a few such boring sets in Latin America.

Check out Bolivia, Costa Rica and Nicaragua.

But don't expect them to change any time soon.

See:  Circulation sets with a common obverse and a common reverse

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I expect new standard sets for the Isle of Man, Gibraltar and possibly the Falkland Islands next year.

That's a possibility. They are all clients of Tower Mint now.

They cater to collectors.

Profit is paramount with them.

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Tunisian coins.

Then there are the design series that get updated simply because they are old.

My top wish for that slot is Tunisia.

Its coin designs are disgracefully old-fashioned and ugly.


The only modern design appears on the 2 dinars coin.

It appears top right in the image above.

The coin was introduced in 2013.

So far that is a one-year only coin.


As regards per capita wealth, Tunisia is Africa's tenth richest country.

So come, Tunisia. You can and must do better than this!

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[Pabitra]

Which countries will redenominate their currencies?

My top four candidates are Indonesia, Iran, Lebanon, and Uzbekistan.

However, Iran is anything but dynamic, and Lebanon is looking increasingly like a failed state.

So that just leaves Indonesia and Uzbekistan.


What does our currency-watching forum member Pabitra think?

The redenomination and revision of circulation coinage is a big legal and administrative exercise and in most cases, not worth the effort when physical coins and notes are fast becoming not that common. I do not expect any such activity in 2024.
Issue of fresh design of circirculation becomes mandatory when head of a state changes and former head appeared on the coins. Some nations do avail that opportunity to redesign entire set ( like Saudi Arabia ) but others merely change the both sides ( like Thailand, UK) or one side only ( like Canada, Australia ).

[Pabitra]

What changes might we expect to circulation coinages in 2024?

Here is my top prediction: the issue of the Caribbean guilder will be delayed yet again, despite having been promised since 2011.

As per Coin & Mint News, December 2023 issue, the Central Bank of Curacao and Sint Martin has announced its approval of samples of 1 cent, 5 cent, 10 Cent and 50 cent coins for the new Caribbean Guilder. Now the Royal Canadian mint can begin pre production trials. The bank is continuing to work on samples of 1 and 5 guilder coins. The bank expects to meet its goal of issuing coins in second half of 2024.

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So the Central Bank of Curacao and Sint Martin has read my post and decided to make a fool of me.

Notice that until yesterday, the coins were due to be released in January 2024. Now that has been postponed until the second half of 2024, but still they haven't shown us any pictures of the alleged coins yet.

[<k>]

The redenomination and revision of circulation coinage is a big legal and administrative exercise. I do not expect any such activity in 2024.

Well, you're the expert, so let's see what happens in the coming year.

[Pabitra]

So the Central Bank of Curacao and Sint Martin has read my post and decided to make a fool of me.

Notice that until yesterday, the coins were due to be released in January 2024. Now that has been postponed until the second half of 2024, but still they haven't shown us any pictures of the alleged coins yet.

The Central Bank does not make fool of anyone but itself.

https://caribbean.loopnews.com/content/cbcs-says-caribbean-guilder-be-introduced-2025-and-not-2024