Author Topic: Nepal to revise design of its coins  (Read 1795 times)

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Offline CannedMeat

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Re: Nepal to revise design of its coins
« Reply #15 on: March 07, 2021, 01:11:50 PM »
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.

Offline <k>

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Re: Nepal to revise design of its coins
« Reply #16 on: March 07, 2021, 01:15:57 PM »
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.
Visit the website of The Royal Mint Museum.

See: The Royal Mint Museum.

Offline Pabitra

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Re: Nepal to revise design of its coins
« Reply #17 on: March 07, 2021, 04:07:25 PM »
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.

Offline <k>

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Re: Nepal to revise design of its coins
« Reply #18 on: March 07, 2021, 09:45:24 PM »
I am surprised that the Royal Mint didn't find a less expensive solution for Nepal.
Visit the website of The Royal Mint Museum.

See: The Royal Mint Museum.

Offline Pabitra

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Re: Nepal to revise design of its coins
« Reply #19 on: March 08, 2021, 02:43:28 AM »
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.

Offline eurocoin

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Re: Nepal to revise design of its coins
« Reply #20 on: March 12, 2021, 09:39:51 AM »
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.
« Last Edit: April 03, 2021, 08:14:04 PM by eurocoin »

Offline eurocoin

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Re: Nepal to revise design of its coins
« Reply #21 on: October 17, 2021, 07:38:27 PM »
On 16 September, Nepal has launched a prequalification of bidders for a tender procedure of all of its circulation coin minting for the next 2 years. The tender is for the production of Nepalese circulation coins of each denomination in circulation. This tender includes the designing of the said coins. It is unclear which specific denominations will be part of the tender, and which ones will be redesigned.

Earlier Nepal held 2 tenders for respectively the production and design of 1 rupee and 2 rupees coins. These tenders were won by different mints. Both coins must depict a design of the map of Nepal including contested areas, though as the tenders were won by different mints, the designs will not be completely the same. These new coins have not yet been issued.
« Last Edit: October 17, 2021, 10:49:56 PM by eurocoin »

Offline Gusev

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Re: Nepal to revise design of its coins
« Reply #22 on: October 17, 2021, 07:47:56 PM »
Detective story.
I hope problematic design doesn't lead to war.  ???
"Those at the top of the mountain didn't fall there."- Marcus Washling.

Offline Pabitra

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Re: Nepal to revise design of its coins
« Reply #23 on: October 18, 2021, 06:10:00 AM »
Does the new tender define higher denominations?

Offline eurocoin

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Re: Nepal to revise design of its coins
« Reply #24 on: October 18, 2021, 10:40:51 AM »
Does the new tender define higher denominations?

It does not mention specific denominations.

Offline Pabitra

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Re: Nepal to revise design of its coins
« Reply #25 on: October 18, 2021, 04:28:10 PM »
These tenders were won by different mints. Both coins must depict a design of the map of Nepal including contested areas, though as the tenders were won by different mints, the designs will not be completely the same. These new coins have not yet been issued.

Have they been minted and delivered?
The period for delivery in tenders is normally not that long.

Offline Pabitra

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Re: Nepal to revise design of its coins
« Reply #26 on: November 16, 2021, 04:36:30 AM »
When is the new tender likely to be finalised?
Is the old tender scrapped?

Offline eurocoin

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Re: Nepal to revise design of its coins
« Reply #27 on: November 16, 2021, 12:06:39 PM »
When is the new tender likely to be finalised?

I do not know. Interested mints had until 31 October to apply for the prequalification.

Nepal is not on my priority list.
« Last Edit: November 17, 2021, 10:25:12 AM by Figleaf »