Nepal to revise design of its coins

[CannedMeat]

The coins are being minted at a cost more than face value.

That's almost a necessity for any country if you want low value coins that aren't easy to counterfeit.

[<k>]

That's almost a necessity for any country if you want low value coins that aren't easy to counterfeit.

But counterfeiters do not counterfeit low value coins because it is not worth the effort for the low returns on investment of time, materials and money.

[Pabitra]

Is the 2 rupees coin still much used, and what is the lowest denomination still in circulation?

The current circulation series has only two denominations- 1 and 2 Rupees.
Since the present orders are for 300 million and 100 million pieces respectively, obviously there is demand for them.

[<k>]

I am surprised that the Royal Mint didn't find a less expensive solution for Nepal.

[Pabitra]

Nepal is a land locked nation with very hilly terrain.
I have reasons to believe that logistics costs may be the prime reasons for such an expensive solution.

More surprising is that its neighbours ( China and India) with huge surplus minting capacity could not underbid distant mints like those of Poland and UK. Interestingly, China mint just happened to deliver 5 million pieces of 20 Rupees commemorative coins to Sri Lanka ( against international competition) only in the month of February 2021.

[eurocoin]

This morning I spoke with Mr Narayan Prasad Pokhrel, director at the Central Bank of Nepal. He has confirmed to me that indeed both coins will depict the updated map including the contested area but that the designs will differ as each mint will make its own design.