Switzerland: New Series of Banknotes Delayed

[eurocoin]

[eurocoin]

The Swiss National Bank has decided that the Bisse d'Ayent will be featured on the 100 CHF banknote. The Bisse d'Ayent is a network of flumes that brings water to the meadows and vineyards of Ayent and Grimisuat. The original channel was built in 1442. Some of them are now being used by hikers. The new 100 CHF note, which has the theme 'water', wil be issued in 2019. On the note can also be seen an image of 2 hands holding water. The next in the series will be the 20 CHF note which is due to be released in the spring of 2017 and has the theme 'light'.

Marco Aymon, president of the Ayent commune, told that the bank's decision was "a big surprise" and "like winning the lottery without even playing" given the community itself didn't know it was even on the cards.

[Bimat]

Bank of Switzerland has announced that design of the new 20 Franc banknote will be unveiled on May 10, 2017 (Press Release) and the notes will enter circulation a week later, on May 17, 2017. Third note in the new series (10 Franc) is scheduled to be released in Autumn 2017.

Aditya

[Bimat]

Swiss CHF50 named 'Bank Note of the Year'

APR 25, 2017 - 11:26

In a paper-thin victory, Switzerland has beaten off competition from the Maldives, Argentina and Scotland to win "Bank Note of the Year" for 2016.

Nominees for the award, conferred by the International Bank Note Society (IBNS), "must have artistic merit and/or innovative security features".

The winning CHF50 ($50.25) noteexternal link has 15 security features to thwart counterfeiters, including shimmery ink, glittery thread, window cut-outs, ultraviolet elements and microtext.

In addition, it has a three-layer structure which consists of two outer layers of cotton paper and a polymer core for reinforcement, making it more durable than traditional banknote paper.

"Incorporating the latest technological security standards, future notes will depict time, light, water, matter and language. Using three layer substrate Durasafe® technology, the bright green vertical banknote depicts dandelion seeds, a paraglider aloft in the mountains and a strikingly playful human hand," the IBNS said on its website.

The CHF50 note, which went into circulation on April 12, 2016, is the third polymer note in a row to win the award.

Previous winnersexternal link include New Zealand's five-dollar note (2015), Trinidad & Tobago's 50-dollar note (2014) and Kazakhstan's 1,000-tenge note (2013).

The new CHF50 note was the first of the ninth series of banknotes to go into circulation; the previous series was released 20 years ago. The next in the series, the new CHF20 note, will be presented in Bern on May 10 and enter circulation a week later.

Source: Swiss Info

[chrisild]

The obverse (with the dandelion, the hand and the earth) I find attractive. The other side ... not so much, mostly because there is, in my opinion, no "core" element or focus. Have not seen an actual 50 fr note though. By the way, I was curious to see what the other three notes look like. And voilà, here they are.

Christian

[Bimat]

Bank of Switzerland has announced that design of the new 20 Franc banknote will be unveiled on May 10, 2017 (Press Release) and the notes will enter circulation a week later, on May 17, 2017. Third note in the new series (10 Franc) is scheduled to be released in Autumn 2017.

Here it is.

Aditya

[Bimat]

New 10 franc note released next month

National News // Oct. 12, 2017

The new 10 franc note will be released next week. It's part of the continuing upgrade of banknotes. We already have the new 20 and 50 franc notes.

The new notes contain high tech security features.

The latest 10 franc note highlights Switzerland's organizational talent – expressed by time, which is the note's main theme.

The old notes will remain valid for the foreseeable future. Even when they are considered not legal tender, they will be able to be exchanged at banks.

The new notes will start to hit the streets on Wednesday.

Source: World Radio

[Bimat]

Here it is...

Aditya

[chrisild]

The Swiss central bank (SNB) explains some of the design elements and features of the new notes here:
https://www.snb.ch/en/iabout/cash/series9/design_series9/id/cash_series9_design

Christian

[Bimat]

Swiss Central Bank Rescues Company It Needs to Make Banknotes

By Catherine Bosley and Jan Dahinten

December 21, 2017, 2:50 PM GMT+5:30 Updated on December 21, 2017, 5:24 PM GMT+5:30

The Swiss National Bank bought a 90 percent stake in Landqart AG, bailing out the sole producer of the material needed for producing its "state of the art" banknotes.

The acquisition is aimed at saving the company based in eastern Switzerland, which the SNB said faced a liquidity shortage and a "direct and existential threat" that could have jeopardized the central bank's ability to supply the country with cash.

The SNB "always had the ambition to produce the world's best banknotes," President Thomas Jordan said at a press conference in Zurich on Thursday. "And part of that is the development of new banknote paper," using Landqart's enhanced-security Durasafe substrate.

Durasafe, made of paper and polymer, features in the new banknote series the SNB kicked off last year. Still awaiting their debut are the 100, 200 and -- controversially -- 1,000 franc notes. Despite the advent of electronic payment systems, notes remain very popular in Switzerland.

The SNB also owns a 33 percent stake in banknote printer Orell Fuessli Holding AG, which acquired the other 10 percent in Landqart from Fortress Paper Ltd. The two companies are paying a total 21.5 million francs ($21.8 million) for Landqart and another firm that holds the relevant patents for Landqart's activities. The central bank said it does not intend to own the company indefinitely, but provided no detail on how or when it plans to exit.

Citing the popularity of cash in Switzerland, the SNB has decided to continue issuing a 1,000 franc bill, a pledge Jordan repeated on Thursday. That stance has raised eyebrows among some such as former U.S. Treasury Secretary Lawrence Summers, who has called on the SNB to scrap them in a bid to thwart crime.

"We have the obligation to provide Switzerland with banknotes, this is part part of our mandate," Jordan said. "And as long as the public wants banknotes, we'll provide them with the banknotes."

Source: Bloomberg

[Bimat]

The new CHF 200 banknote will be unveiled in August 2018. The relevant press release is here.

Aditya

[Bimat]

Here's the new 200 CHF banknote, to be issued on August 22.

Aditya

[chrisild]

My first thought was, showing three fingers is an odd way of saying "200".   But the explanation at the SNB website says, "The fingers of the hand describe three axis coordinates, representing the spatial dimensions in which matter expands."

Christian

[Bimat]

Cash-crazy Swiss get new 1,000 Swiss franc note

BUSINESS NEWSMARCH 5, 2019 / 6:57 PM

John Revill

ZURICH (Reuters) - Switzerland's central bank launched a new 1,000 Swiss franc ($998.90) note on Tuesday, saying one of the world's most valuable banknotes catered to the popularity of cash in Swiss culture and was not a help for criminals.

The Swiss National Bank's announcement of the new lilac-colored note, available from March 13, comes as other central banks move away from large notes because of concerns about their use by criminals and money launderers.

"The choice of the denomination is a matter for the SNB, but the current denominations are appropriate and correspond to what people want," Vice Chairman Fritz Zurbruegg told a news conference.

"The 1,000 franc note is used for payments and also has a function as a store of value. Cash is still very popular in Switzerland, it is a cultural phenomenon."

Since January this year, 17 of the 19 central banks in the eurozone have stopped issuing 500 euro notes because of concerns they are often used for illegal activities.

Germany's Bundesbank and the Austrian National Bank will continue issuing 500 euro notes until April 26, 2019.

The SNB is following discussions about illicit use very closely, Zurbruegg said, but there were no indications that criminals used the 1,000 franc note more frequently than other notes.

"In Switzerland the 1,000 franc note is used...particularly for high-value purchase and for paying bills at the post office," he said.

SECURITY FEATURES

There are about 47 million 1,000 franc notes in circulation, amounting to 10.5 percent of the number and 62 percent of the value of all banknotes in Switzerland, according to the SNB.

The new note, which has several security features to combat forgery, is part of an overhaul of the Swiss currency, which will see the 100 franc note updated in September.

In recent years the 1,000 franc note has also been used by people wishing to avoid negative interest rates, although these apply to only a tiny fraction of wealthy savers. There has been some suspicion people have been withdrawing money from bank accounts at the end of the year to lower their tax bills.

Low interest rates meant people did not lose money by stashing money under the mattress, and the use of cash was increasing, although Zurbruegg said he did not see a major surge in the hoarding of bank notes.

"The demand for cash has increased at the end of the year for decades, obviously due to Christmas presents being bought and people giving cash," he said.

"We are aware that studies also show other factors like possible tax evasion. Should the 1,000 franc note be used improperly for tax evasion that is an issue for the legislators and the authorities to prevent."

Source: Reuters

[Bimat]

Here is the Press Release by Swiss National Bank.

Aditya