High and low number of coins in world circulation series

Started by <k>, December 15, 2021, 10:44:17 PM

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<k>

Tanzania circulation set 2003.jpg

Tanzania circulation set 2003.

In 2003 the Royal Mint (UK) sold collector packs of Tanzanian (uncirculated) circulation coins. Above you see an image of part of the back cover. I remember being surprised that the set contained 11 denominations. Later I realised that that did not necessarily mean that all those were still used in circulation. Some mints traditionally produce packs that contain low denominations that no longer circulate. I believe pre-euro Austria was one of the countries that followed such a policy.

In the UK of the 1960s, there were seven coins in our circulation series, which I used as a child. When we introduced decimal currency, there were only six at first. Now there are eight. We lost the half penny but added the 20 pence, pound and 2 pound coins. I expect eight coins in a series would be considered a high number in some countries. That is probably down to tradition and what people are used to, of course. In the euro zone, some countries like the 1 and 2 cent coins, others do not. In the USA, the dollar coin is not liked. The half dollar is also unpopular there, I believe.

I wonder which country in the world currently has the highest number of denominations in circulation. And which has the smallest? I expect our forum member Pabitra will be able to answer that question. Does the number of denominations in circulation say anything about a country, its wealth or economy? Or is it just random?
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FosseWay

The lowest must surely be zero - there are plenty of places that have simply had no circulating coinage at all. In the European context, Belarus springs to mind, which had no circulating coinage as an independent state until a couple of years ago.

But if we leave aside zero as an option, it's an interesting question how few denominations countries feel it is worth bothering with, rather than just abolishing coins altogether. The US has four circulating denominations (1, 5, 10, 25 cents). Sweden also has four (1, 2, 5, 10 kronor), but before the new coin series was launched in 2016, there was a period when there were only three (1, 5, 10 kronor). This period lasted from the demise of the 50 öre coin in 2010 through to the introduction of the 2 kronor in 2016. Are there any countries where the currently circulating coin series consists of one, two or three denominations?

At the other end of the scale, you're right about the grey area caused by mints continuing to produce coins for bureaucratic reasons that in practice aren't used. Pre-euro Italy was a particular offender in this regard, producing three denominations below the smallest circulating coin (50 lire) up to the end of the millennium. But Italy didn't have that many denominations in actual use, so the total was still 8. France had 9 actually in use (5, 10, 20, 50 centimes, 1, 2, 5, 10, 20 francs) plus the 1 centime produced for sets and bureaucratic reasons. The USSR had 9 because of the presence of 3 and 15: 1, 2, 3, 5, 10, 15, 20, 50 kopek, 1 ruble.

Pabitra

On the upper end, the statutory requirements may lead to issue of circulation sets, which may have more denominations than are issued in to circulation. As already pointed out, Euro is 8 coin series. Many nations like Ireland, Belgium, Netherlands etc have stopped issuing lowest two denominations and Finland never issued them.
The countries which have 9 coin series  include countries like Moldova, Mozambique, Tajikistan, Thailand etc but only nation where I have seen all 9 denominations in use is Poland.

Coinless nations are many but those typically do not have their own mints. The only nation with a mint and currently coinless is Iran.

Country which has 1 coin series currently is Venezuela whose 2021 series of Bolivar Digital is single coin series. Earlier, Bolivar Soberano was 2 denominations series. Only other country with 2 denominations series is Nepal. There are quite a few 3 denominations coin series nations like Bangladesh, Guyana, Malawi etc.

FosseWay

Quote from: Pabitra on December 16, 2021, 08:52:56 AM
but only nation where I have seen all 9 denominations in use is Poland.

Yes, I'd forgotten Poland. But as I said before, pre-euro France had 9 definitely in use, plus a further one still minted but never used.

Figleaf

I lived in pre-euro France. I saw 5, 10, 20, 50 centime and 1, 2, 5 and 10 franc pieces. Not circulating were coins of 1 centime and 20 francs and above. I presume you count the 20 francs as circulating? Towards the year 2000, I spotted one in a till once in a while but I never received one (I worked in Paris and lived in the greater Paris area.)

I presume France having 8 circulating denominations in a perfect 1-2-5 system was a reason why Euroland initially had 8 circulating denominations in a perfect 1-2-5 system. The UK wasn't at the table to advocate a 16⅔ pence ... uhhh ... cent piece. ;D

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

FosseWay

Quote from: Figleaf on December 16, 2021, 09:11:56 AM
I lived in pre-euro France. I saw 5, 10, 20, 50 centime and 1, 2, 5 and 10 franc pieces. Not circulating were coins of 1 centime and 20 francs and above. I presume you count the 20 francs as circulating? Towards the year 2000, I spotted one in a till once in a while but I never received one (I worked in Paris and lived in the greater Paris area.)

I only went to France on holiday but I received a 20 franc coin in change so presumed they were normal  ;)

As to 8 - Germany had 8 as well (1, 2, 5, 10, 50 Pfennig, 1, 2, 5 DM). It could easily have been 9 were it not for the peculiarly complicated relationship the Germans had with the 20 Pfennig denomination ever since 1871.

The UK still maintains its "perfect" 1, 2, 5... system of course, except that the £5 is a note.

<k>

Thank you, all. Apparently, the digital bolivar is not digital at all. It's a physical coin that's worth 1 million "sovereign" bolivars.
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<k>

Quote from: Pabitra on December 16, 2021, 08:52:56 AM
Only other country with 2 denominations series is Nepal.

Numista gives me 1, 2, 5 and 10 paisa for 2020. Which two are not used or do not circulate?
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Pabitra

Nepal uses Vikram Samvat as an era.
See
https://en.m.wikipedia.org/wiki/Vikram_Samvat



2020 Corresponds to 1963AD


Ever since the  ruling King was deposed, Nepal has issued only 2 circulating coin of denominations 1 and 2 Rupees.

1 Rupee was minted in 2007 and 2009 ( VS 2064 and2066)
2 Rupees was minted in 2006 and 2009 ( VS 2063 and 2009)

There is a proposal to change to Nepal Samvat.

Pabitra

Quote from: FosseWay on December 16, 2021, 08:59:11 AM
Yes, I'd forgotten Poland. But as I said before, pre-euro France had 9 definitely in use, plus a further one still minted but never used.

I am referring to current circulation issues ( or the last ones which got circulated).

<k>

Hungary 1993 set.jpg


Here is the Hungary 1993 set. It included 11 denominations.

I believe that only the 6 highest denominations of that set now circulate.
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Figleaf

Quote from: <k> on June 05, 2023, 01:00:00 AMI believe that only the 6 highest denominations of that set now circulate.

FWIW, last time I was in Hungary (somewhere between 2015 and 2019), I saw only the 10, 20, 50 and 100 forint. The 20 showed up only occasionally.

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

<k>

I see. So we are down to four denominations now. Inflation is surely to blame.
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<k>




The Czech Republic issued its first circulation series in 1993.

The nine denominations were:

10, 20, 50 haleru
1, 2, 5, 10, 20 and 50 korun/koruna.

The 10 and 20 haleru were demonetised in 2003.
The 50 haleru was demonetised in 2008.

How many other post-communist or newly independent countries saw such a big drop in the number of circulating denominations?
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See: The Royal Mint Museum.

Pabitra

Pakistan appears to be issuing only 5 Rupees coins.
Comedown from 7 coin set.