Central African States to release new coins?

Started by eurocoin, March 16, 2021, 03:51:19 PM

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eurocoin

CEMAC: Towards the release of a new series of banknotes and coins?

(Business in Cameroon) - The Bank of Central African States (BEAC) is currently finalizing its project for the issuance of new banknotes and coins in the CEMAC region. This issuance was approved on October 2, 2019, by the Ministerial Committee of the Central African Monetary Union (UMAC).

Indeed, at the end of the meeting it held that day in Yaoundé, the committee indicated that it acknowledged the launch of works for the issuance of a new series of BEAC banknotes. It then asked the central bank's board of directors to finalize, as soon as possible, the works necessary for the creation and gradual release of the new series.

Days ago, images of a new series of banknotes were posted on some online platforms. However, as the images were not officially confirmed by the central bank, there is no certainty whether they truly depict the new series or they are just samples on which the central bank worked in the framework of the project ongoing since 2019.

Contacted by Business in Cameroon, an authorized source simply responded that no information about the new banknotes and coins series could be published for the time being. Nevertheless, it is hard not to believe that the images that were leaked are samples from the BEAC.  Indeed, besides the central bank's coat of arms, the inscriptions on the 500, 1000, 2000, 5000, and 10,000 francs banknotes pictured are in French, English, Arabic, and Spanish, which is in line with the BEAC's ambition to promote, for the first time, the official languages used in the CEMAC region. 

So, the main unknown fact is when the new notes and coins (ed. note: some sources claim that a 250 francs coin will be created) will be released. Based on the previous pattern in the BEAC's issuance of new banknotes and coins series, the logical answer is 2022. Indeed, the region's previous series were issued respectively in 1972, 1982, 1992, and 2002. The last series was issued in 2002 (according to the BEAC) and new series are issued every 10 years approximately, thus the hypothesis that the new series will be issued in 2022.

But, the central bank could issue the series earlier, fulfilling the wish expressed by the UMAC, on October 2, 2019, of seeing the new series released as soon as possible.

Jostein

According this information, new series of notes and coins will be issued on late November this year 2022, it seems that this will be a complete revamp, with new designs, composition and sizes in the case of the coins, as well different designs, colors and sizes in the case of the banknotes. No coins with a facial value less up 25 francs will be issued (so, just coins of 25, 50, 100 and 500 francs). No changes in the facial value of the banknotes.

Best,

"Change is the law of life. And those who look only to the past or present are certain to miss the future" - John F. Kennedy

http://www.bimetallic-coins.com

africancoins


andyg

Quote from: africancoins on July 22, 2022, 05:26:04 PMDoes this item fit in with this at all ?

https://en.ucoin.net/coin/equatorial_guinea-1000-francs-2020/?tid=130977

No sign of it elsewhere.

Thanks Mr Paul Baker

I think that's a fantasy,
this seller seemingly has more similar pieces - https://www.ebay.com/itm/175111889342
always willing to trade modern UK coins for modern coins from elsewhere....

<k>

Quote from: andyg on July 22, 2022, 06:39:00 PMI think that's a fantasy

I did wonder about that. The gazelles seem like a crude copy of Lucien Bazor's beautiful original design.
Visit the website of The Royal Mint Museum.

See: The Royal Mint Museum.

africancoins

So you too are thinking that the piece I linked to is just an "item" and not a coin.

The other day I failed to find anything new/official about it... The design goes back to a previous series. Other things were odd about it.

Thanks Mr Paul Baker

<k>

Visit the website of The Royal Mint Museum.

See: The Royal Mint Museum.

eurocoin

#7
Based on the articles I have read, I am not so sure that there will actually be a redesign of the coins. What I have found only says that the coins will have different colour, alloy, technical characteristics and edge. It would be nice if they also had a new design though as the current one is rather plain. Furthermore some articles mention November 2022, while others mention January 2023 as date of issuance. And one current article also mentions the introduction of a 250 FCFA coin.

Jostein

Quote from: eurocoin on July 24, 2022, 08:31:09 AMBased on the articles I have read, I am not so sure that there will actually be a redesign of the coins. What I have found only says that the coins will have different colour, alloy, technical characteristics and edge. It would be nice if they also had a new design though as the current one is rather plain. Furthermore some articles mention November 2022, while others mention January 2023 as date of issuance. And one current article also mentions the introduction of a 250 FCFA coin.

You're right. I think that the presentation will be hosted on November, for the 50th anniversary of the BEAC, but the release of the new series will be placed on January. I also read something informations about the introduction of a 200/250 FCF coin.

Let's see...
"Change is the law of life. And those who look only to the past or present are certain to miss the future" - John F. Kennedy

http://www.bimetallic-coins.com


eurocoin

#10
At some point in the following months, the Central African States will introduce a new series of circulating coins. The project has been going for years. Delay appears to have amongst other things been caused by the fact that the coins were earlier rejected as they did not comply with certain technical specifications. Furthermore a 200 FCFA coin is said to be introduced. It appears that the new series will not contain bimetallic coins.