This starts another debate on definition of coins. This too is a well discussed topic. There used to be a coins group, hosted by uni.edu and this topic used to be the standard whipping horse.
Dem Rep has NO coins in circulation - only banknotes.
Please do not forget timeline.
These were issued in 2002 and now they are no longer in circulation.
Inflation takes heavy toll and expedites the demise of coinage.
The Government takes the easy way out of issuing only notes since initial capital expenditure required is lower.
This poor economic decision is indicative of poor governance.
The result is higher inflation as similar non- sound economic decisions continue to be made.
A very vicious cycle indeed.
while Figleaf calls them "pseudo-coins", because for him, a coin is not a coin unless it circulates and can be spent.
I fully agree with Figleaf. I call them "stamped metal tokens with face Value imprinted".
But then, who defines what has circulated?
In Saudi Arabia, 5 halal and 100 halala are almost impossible to find. So is 50 paisa in India. But they are circulated coins.
When a tourist goes to a country and stays in the capital, he may not come across any coins. Does it mean that coins do not exist?
There are several countries in Asia, Africa and South America when coins have ceased to be important means of economic transactions in main towns.
This is especially true for those countries which do not mint their own coins.
The decision to get the coins minted is long drawn affair and there is a well known incident when the coins delivered after a long gap had ceased to be functionally important;
The Central Bank had to issue a fiat that a significant percentage of every withdrawal from the bank had to be in coins.
What about central bank issued coins.
New Zealand coin set has different metallic composition from coins in circulation.
Many European countries have denominations included in Central bank sets which can not be found in actual circulation.
Why Netherlands new 1 cent coin ( with the new King) is not found in circulation? Does it make it a fantasy piece? Similarly for Finland and Belgium.
What about whole lot of non-standard specification 2 Zloty coins of Poland, which are the only items you can get in their National bank?
OR bimetallic 1 Lira of Turkey with all types of animals but officially released by the mint but not legal tender (except in vending machines there).
Nice discussion on a very important topic.
Request to moderator to split it in to a new thread.