Argentina 2017: redesigned coins and new denominations

[eurocoin]

In January 2017 Argentina is going to issue redesigned coins of 1 and 2 pesos. Furthermore the 5 and 10 pesos denominated notes will become coins. The 5 pesos coin will depict José de San Martín and the 10 pesos coin will depict Manuel Belgrano.

[<k>]

In January 2017 Argentina is going to issue redesigned coins of 1 and 2 pesos. Furthermore the 5 and 10 pesos denominated notes will become coins. The 5 pesos coin will depict José de San Martín.

Oh, no, not HIM again.   

[eurocoin]

The issuance of the coins was planned for January 2017 but so far nobody has seen them and the Central Bank of Argentina hasn't given any information about these new coins since November last year.

[eurocoin]

The issuance of the coins has been postponed until the last trimester of 2017. The issuance of a redesigned 1 peso coin is no longer being mentioned. It is clear that the state mint of Argentina is very busy with minting the new coins as they had to put the minting of other coins up for tender.

[Bimat]

Royal Mint will supply Argentina with 150 million Peso coin blanks

Tuesday, August 8th 2017 - 08:54 UTC

UK's Royal Mint will supply Argentina with 150 million peso coins, after the institution won a contract to assist with the minting of a new coin series. Announced on social media by UK chancellor Philip Hammond, the mint will work closely with its Argentine counterpart – Sociedad del Estado Casa de Moneda – to produce blanks for the new coin series.

According to Argentine media the blanks' contract is worth US$ 1.7 million. An official from the Argentine counterpart said that there was an international bid because "there are no manufacturers of blanks in the country"

However the official added it was not the only recent international bid. In effect the Spanish blanks mint, Ceco SA, was awarded a contract for the new 5 Pesos coin. The Spanish company will supply 200 million blanks in association with Germany's Deutsche Nickel company.

"The (Argentine) central bank believes the country is short of 1 Peso coins and it is also time to begin with the 5 Peso coins. The plan also includes withdrawing the 5 Peso bill", and this despite the fact the bank is promoting a quick change to electronic money and transactions.

Apparently the Royal Mint for many years has been extending commercial and technical support for Argentina's central bank and mint plant.

Source: Merco Press

[eurocoin]

A bit old news as the UK Government already released the information last week. According to experts a very difficult contract to win.

[Jostein]

Some time ago I obtained iformation from the Casa de la Moneda and I found the designs and some technical specifications for the coins of 1 and 5 pesos.

The one peso coin will have 19 mm diameter and copper colour (copper plated steel) while the five pesos coin will have 25 mm in diameter and silver colour (nickel plated steel), both with plain edges. No information about the new 2 and 10 pesos coins.

I attach de images,

[eurocoin]

Well done, Jostein. I hope these are only rough sketches of the designs and not the final drawings.

[eurocoin]

The issuance has once more been postponed, this time until January 2018. News articles still mention José de San Martín and Manuel Belgrano as the themes of the new coins. Maybe the coins depicting trees are commemoratives?

[Jostein]

1 and 5 pesos coins launched. They are exactly as expected:

http://www.lanacion.com.ar/2094810-asi-son-las-nuevas-monedas-de-1-y-5-que-se-pondran-en-circulacion-la-semana-proxima

[<k>]

The designs are very simplistic. The Argentinian treasury should demand a refund from the mint.

[eurocoin]

Extremely bad designs and extremely bad reporting by the local media who for over a year and until recently have been reporting José de San Martín was going to appear on the new 5 pesos coin. Furthermore so far no news from the central bank on the new 2 and 10 pesos coins that according to the media were going to be issued.

[Figleaf]

If the 2 pesos is indeed off the table, that has implications.

It is generally recognised that the most efficient denomination set is a 1-2-5 series, such as the current UK and EU series. However, if inflation is high, it is better to stick with a 1-5 denomination set.

Inflation is currently quite high. In November, it reached 21% on an average annual basis. The best reason I can think of for not issuing the 2 pesos is the expectation that inflation will remain high and will soon wipe out the value of 1 and 2 peso coins. That in turn means that the financial authorities do not believe that politicians are willing to take the short-term pain controlling inflation will cause, for the sake of long-term stable growth. A sad state of affairs. Argentina is in need of a statesman.

Peter

[Pabitra]

2 Peso is still planned.
The press release, issued on 22nd December still talks of the design.


( image exceeds the size limits)

[redlock]

2 Peso is still planned.
The press release, issued on 22nd December still talks of the design.

Do you mean this press release?
http://www.bcra.gov.ar/Institucional/DescargaPDF/DownloadPDF.aspx?Id=597

It is also mentioned in the release that ''cans''/''containers'' with 200 bags of 500 coins each can be obtained by high volume customers.
So, I think, the coin will be issued in 2018.