Author Topic: Samoa: New effigy on circulating coins  (Read 1392 times)

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Offline eurocoin

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Samoa: New effigy on circulating coins
« on: December 24, 2016, 02:44:25 PM »
In 2017, Samoa is going to hold elections for a Head of State (O le Ao o le Malo). It is however possible that 78-year old Tui Atua Tupua Tamasese Efi will be re-elected. Samoa and Vatican City are the only remaining countries on earth who depict an active elected Head of State on their standard circulating coins. The third last country to do so was Malawi which removed the portrait of their president from their circulating coins in 2004.
« Last Edit: January 07, 2017, 04:04:31 PM by eurocoin »

Offline eurocoin

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Re: Samoa: New effigy on circulating coins
« Reply #1 on: July 20, 2017, 04:47:58 PM »
Tomorrow Samoa will get a new head of state as the current head of state has not been re-elected, which means the country will get new circulating coins. Their new head of state is 70-year old Tuimaleali'ifano Va'aletoa Sualauvi II.

Offline eurocoin

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Re: Samoa: New effigy on circulating coins
« Reply #2 on: October 14, 2018, 05:41:15 PM »
Still no news on coins or banknotes with the portrait of the new head of state which was elected last year. In the meantime a part of the Samoan parliament is considering to elect future heads of state for life instead of re-electing them every 5 years. The main reason for this -believe it or not- is that they find it too expensive to each time let produce redesigned coins and notes.  ::) I guess someone should tell them they are the only remaining  country on earth to still depict elected heads of state on their currency.
« Last Edit: October 14, 2018, 10:02:06 PM by eurocoin »

Offline chrisild

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Re: Samoa: New effigy on circulating coins
« Reply #3 on: October 14, 2018, 08:32:46 PM »
Elsewhere cash becomes less relevant, but in Samoa it may even influence the way the head of state is elected or appointed. Funny. :)

Christian

Offline eurocoin

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Re: Samoa: New effigy on circulating coins
« Reply #4 on: January 30, 2019, 09:55:39 PM »
A so far overlooked article of late 2017. Interesting advice from De La Rue.

Not viable, Governor dismisses currency call
 
Changing the effigy or figure head on the Samoan currency is not financially feasible.  So said the Governor of Central Bank, Maiava Atalina Ainuu-Enari, in response to questions from the Sunday Samoan.

The Governor was asked for a comment following calls from members of the public who wonder when the Central Bank would consider a new currency with the new Head of State, His Highness Tuimaleali’ifano Vaaletoa Sualauvi II, on it.

Prime Minister Tuilaepa Sa’ilele Malielegaoi referred questions to the Governor of the Central Bank. During an interview with the Sunday Samoan, the Governor said the process takes about four years maximum to print new money. “And while the decision to change the currency is at the Cabinet’s discretion, I will explain the process for public knowledge,” she said. 

“We order our currency from a company called DelaRue, a banknote manufacturer. It’s a global company located in the United Kingdom who first started printing high security notes in the 1800’s. They sell high-security paper and their deliverance of high security and integrity to the Cash Supply Chain is notable.”

Maiava then explained the process. “I must say that it is a meticulous process. It takes up between three and four years before we can actually print new currency.  ‘That is how lengthy it takes and this is because of the security measures placed on the note.'" “It’s not something we do overnight,” Maiava said.

“So it starts from the designing, and by law we have to do consultation with the uses of the currency which is our people. We also have to consult with the banks because there were times that our currency was unable to use in the A.T.M. (automated teller machine). The A.T.M.  won’t accept the new currency because of some configuration and so what happens is the banks have had to replace all their A.T.Ms and that is costly to the commercial banks."

“We consult with the commercial banks on the size of the currency that is acceptable to the A.T.M's,” she said. She said different countries had difference currencies in terms of sizes. “These are some of the steps we have to take to assure that when the currency arrives there are no problems." “Makes it difficult that Delarue is located on the other side of the world and we are here in the Pacific.”

“We go through the designs and the correspondence goes back and forth on the changes and most especially the security measures. Once the design and everything else is ok, then it goes onto the plate.” ‘This is the tricky part, once it’s on the plate it cannot be changed, that is why the process is very lengthy and again meticulous.”

According to the Governor, even ordering the coin is another process. “Our coin is minted from Royal Australia Mint but the paper money comes from Delarue in U.K. Many Pacific islands Fiji, Tonga, and Solomon islands all print their money from Delarue,” she said.

She said the current currency was launched back in 2007 and this money will be circulating for about 10 years. “And until we have issues in terms of security where a security feature is compromised on the note then we will have to change our currency. We try to use the notes we currently have for a lengthy time due to the high cost, for us as a small nation,” she said.

“There were really no changes of notes at the time when the Late Malietoa Tanumafili II, because his tenure was for life and so that is why his photo was on the notes and the coin,”. In conclusion, the Governor pointed out the main recommendation from Delarue was go “fauna and flora”.

“They have suggested for us to consider putting our national flower or national bird to represent Samoa, and so there won’t be many changes, because changes come at a cost,” said the Governor. 

Offline Figleaf

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Re: Samoa: New effigy on circulating coins
« Reply #5 on: January 30, 2019, 11:23:20 PM »
Maybe I have become an old cynic or maybe this is a blatant call on the UK government for "development aid" to be used to order stuff from Delarue and get the ATMs fixed.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.