World of Coins

Design and designing => Coin characteristics => Topic started by: <k> on March 20, 2014, 07:36:11 PM

Title: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 07:36:11 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=20754.0;attach=33511;image)

A minority of national coinages show the Central Bank's name. I assume that "Institut d'émission", on the Comoros 50 francs of 1975 (above) means the same as "central bank". Is that correct? Is there any reason for showing the bank name rather than the country name? Is it the case that you would normally expect the Treasury to arrange for the issue of coins, rather than the Bank? And are there still any private authorities, rather than public ones, that issue the national coinage in some countries?



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4458.0;attach=32770;image)

On this later Comoros coin, the 25 francs of 1982, the Central Bank of Comoros is specified, rather than the Institut d'émission.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 07:39:56 PM
Below is an example from Mozambique: the 1 metical of 2006.
Title: Re: Issuing authorities named on coins
Post by: Figleaf on March 20, 2014, 10:28:34 PM
Institut d'émission is not a central bank (banque centrale.) Literally, it means "issuing authority". While a central bank manages a currency - including cash - an institut d'émission issues and withdraws banknotes and coins of a currency that does not need to be managed, because it is linked to another currency. The institut d'émission would hold, e.g. french francs and issue 100 CFA francs for a french franc on demand. They would buy 100 CFA francs for a french franc on demand. If reserves of french francs would go down, e.g. because the country runs a trade deficit it would diminish the amount of CFA francs outstanding. If the country would receive more french francs, e.g. through foreign aid, the institut d'émission would have the possibility to increase the supply of CFA francs.

Peter
Title: Re: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 10:33:14 PM
Thanks for that valuable information, Peter. Who can tackle the other parts of the question? For some reason I imagine Harald would be good at this one, but he doesn't often look in these days.

Another question is, which other coinages (from which countries) reference the national or central bank in their legends? I don't mean coins that commemorate banks, as that is a different matter.
Title: Re: Issuing authorities named on coins
Post by: chrisild on March 20, 2014, 10:45:45 PM
The "Last DM" coin, issued in 2001, had the same design as Germany's regular 1 DM pieces ... except it was a gold coin. And, more relevant in this context, the inscription was not "Bundesrepublik Deutschland" as usual, but "Deutsche Bundesbank". :)

In my opinion there is no practical difference. We may just be more used to the idea that paper money has the name of the issuing bank (usually the country's central bank) while the coins usually have the country's name. But look at pretty much every Russian circulation coin, for example (except for the relatively new 25 ruble pieces), and you will see the central bank's name and logo, not that of the federation.

The Bulgarian coins usually have the short version of the country name. But the commemorative and collector coins feature the name of the central bank ...

Christian
Title: Re: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 10:56:44 PM
If on banknotes, why not on coins too? Yes, that makes sense.

I notice that on the early South Korean coinage (http://www.worldofcoins.eu/forum/index.php?topic=26401.0) (from 1966 onwards), the legend "THE BANK OF SOUTH KOREA" appears only on the lower denominations but not on the higher ones.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 11:23:36 PM
Uganda, 50 shillings, 1998.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 20, 2014, 11:24:52 PM
Uganda: 50 cents, 1 shilling, 1966.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:22:27 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=3877.0;attach=88777;image)

Belgian Congo, 50 francs, 1944.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:26:32 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=13104.0;attach=72698;image)

Indonesia, 50 rupiah, 1971.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:28:57 AM
Rwanda, 1 franc, 1977.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:31:45 AM
Malaysia, 5 sen, 1997.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:39:04 AM
National Bank of Serbia, 20 dinar, 2003.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:40:27 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=33306.0;attach=72602;image)

Central Bank of Yemen, 20 rials, 2004.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 12:45:13 AM
Central Bank of Ecuador, 5 centavos, 2000.
Title: Re: Issuing authorities named on coins
Post by: Pabitra on March 21, 2014, 12:35:35 PM
It is not an old phenomenon.
The current circulation coins of Bangladesh has higher denomination showing Bank's name.
The coins issued by country are accounted for by finance ministry, in government budget as money.
The currency notes and coins with banks name, are promissory notes or metallic equivalent thereof.

Bangladesh Govt. is currently authorised to issue coins only up to 2 Taka.


And are there still any private authorities, rather than public ones, that issue the national coinage in some countries?

Hong Kong notes are issued by three banks, one of which is Standard Chartered Bank, listed in London and Hong Kong Stock exchanges. If ever, Hong Kong decides to issue coins above 10 Dollar face value, it might be issued by these banks, if the current law is not amended.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:12:39 PM
Guyana, 5 dollars, 1996.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:14:39 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=3314.0;attach=8972;image)

Lebanon, 2006, 50 pounds. 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:19:14 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=26222.0;attach=43180;image)

Nauru, 10 dollars, 1993.  Collector coin. 

Nauru is an independent state. It uses the Australian dollar, as it does not have its own circulation coinage.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:20:49 PM
Peru, 1 nuevo sol, 2012.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:26:00 PM
Syria, ½ piastre, 1921.

To my knowledge, this is the only Syrian coin that references the Bank of Syria.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:28:03 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=15042.0;attach=22762;image)

Philippines, 5 piso, 1993.  Central Bank of the Philippines.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:32:43 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=18887.0;attach=33054;image)

Myanmar, 100 kyats, 1999.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:36:42 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=9499.0;attach=88697;image)

Democratic Republic of Congo, 5 likuta, 1967.

 

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:37:30 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=9499.0;attach=88690;image)

Zaire, 5 zaires, 1987.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:53:16 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=39617.0;attach=92197;image)

Cyprus, 1955.

Normally either the country or the bank is referenced on the coins. Just a few coins have referenced the government.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:53:47 PM
Pakistan, 10 paisa, 1962. 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:54:32 PM
Ajman, 7½ riyals.  Official collector coin.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:55:04 PM
Rais al Khaimah, 150 rials, 1972.  Official collector coin.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:56:24 PM
Anguilla, 1 dollar, 1970.  The Anguillan government tried unsuccessfully to break away from British rule in the late 1960s.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 01:59:07 PM
Greenland, 50 øre, 1926.

GRØNLANDS STYRELSE  (correct order) is something like Greenland Administration.  Styrelse is cognate with German words starting with Steuer- (control/manage/direct).
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 02:02:01 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=42577.0;attach=82282;image)



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=42577.0;attach=82283;image)

Malaya, 20 cents, 1943.

The coins of Malaya reference the "COMMISSIONERS OF CURRENCY". This beautiful specimen belongs to our forum member Harry.

 
Title: Re: Issuing authorities named on coins
Post by: <k> on March 21, 2014, 02:04:11 PM
Cuba, 5 centavos, 1981.  Cuban landsnail.

This coin states that it is issued by the National Institute of Tourism (INTUR). These coins were issued to tourists from the Soviet Bloc / Warsaw Pact countries.
Title: Re: Issuing authorities named on coins
Post by: Figleaf on March 21, 2014, 07:28:58 PM
In fact, all tourists were supposed to use them. It was a second, separate money circuit that was semi-convertible. The first circuit money (Cuban pesos) was not convertible. The intention was to keep your average Cuban from owning something convertible. The real effect was to put a premium on the second circuit coins and notes, proving the inferiority of the first circuit currency. China had a similar second currency in the seventies, but it consisted of banknotes only.

Peter
Title: Re: Issuing authorities named on coins
Post by: davidrj on March 21, 2014, 09:55:22 PM
1827 Argentina - Buenos Ayres 5/10 decimo

(http://i593.photobucket.com/albums/tt14/microtome/CJB9HalfReal1827.jpg) (http://s593.photobucket.com/user/microtome/media/CJB9HalfReal1827.jpg.html)

and 1850 2 reales

(http://i593.photobucket.com/albums/tt14/microtome/CJB182Reales1853.jpg) (http://s593.photobucket.com/user/microtome/media/CJB182Reales1853.jpg.html)

David
Title: Re: Issuing authorities named on coins
Post by: davidrj on March 21, 2014, 10:09:55 PM
France 1922

(http://i593.photobucket.com/albums/tt14/microtome/Fr191450Centimes1922.jpg) (http://s593.photobucket.com/user/microtome/media/Fr191450Centimes1922.jpg.html)

David
Title: Re: Issuing authorities named on coins
Post by: <k> on April 02, 2014, 02:43:25 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=26536.0;attach=43814;image)

As of 2014, Libya will add the words "Central Bank of Libya" to the coins. The new designs are due out soon.
Title: Re: Issuing authorities named on coins
Post by: <k> on March 10, 2019, 01:56:49 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=44944.0;attach=88459;image)



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=44944.0;attach=88461;image)



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=44944.0;attach=88470;image)



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=44944.0;attach=88458;image)

Madagascar.