Currency Producers
The Days of Pennies In Canada Are Numbered
The Royal Mint announced Friday it will stop making the one-cent coin. Federal Finance Minister Jim Flaherty is set to take part in a ceremonial coin strike Friday morning at the mint’s coin production facility in Winnipeg, to mark the end of production of the penny. Once the very last penny is produced it will reside in [...]
Royal Canadian Mint To Launch Digital-Chip Currency
Weeks after the Canadian government announced the abolition of the one-cent coin, the Royal Canadian Mint says it’s preparing to launch a digital alternative to coinage and small denomination banknotes. Called “MintChip” the proposed system would be a virtual payment method accessible through microchips, microSD cards and USB sticks. “The easiest way to describe it [...]
Canadian Government Eliminates Penny
Unveiling their 2012 federal budget yesterday, Canada’s government announced their plans to eliminate the penny from the country’s currency landscape. The government said the one-cent coin costs too much produce and was described as “a burden to the economy” in a pamphlet released on Thursday. According to an article published by the CBC, it costs [...]
Malawi New K1, 000 Banknotes
The Reserve Bank of Malawi (RBM) confirmed the 1,000 Kwacha (about $6) banknotes according to Nyasa Times. Dr. Perks Ligoya, Reserve Bank of Malawi (RBM) Governor said that the new banknote will be in circulation in the next six months at a news conference in Blantyre on Friday. Ligoya said “We are introducing a complete [...]
Greek Drachmas Worth 240 Million Euros Unclaimed
ATHENS -Greece swaps a record-breaking debt this week which were overshadowed by the equivalent of 240 million euro’s unclaimed, in exchange for now-obsolete Greek drachmas. Nearly 82 billion drachmas ($320 million) in banknotes were unaccounted for when the deadline for withdrawal ended on March 1 by the Bank of Greece, said Kathimerini daily. Drachma coins [...]
‘Class A’ Fake Notes
Increasingly sophisticated techniques with counterfeiters are throwing up a huge challenge to authorities and money exchange houses with to forge notes with most of the security features used in real currencies, said forensic experts in Dubai. The Indian rupee has emerged as the currency of choice, overtaking the US dollar in 2011 by currency forgers, accounting for 10,700 [...]
Scotland Seeks Out Currency Options
In the face of a looming referendum that could see Scotland proclaim its independence from the UK, politicians have begun fielding questions on the issue of the country’s currency. If Scotland gains independence, they will have to choose whether or not to continue using the British pound – the currency used throughout the United Kingdom. [...]
Bristol Launches Independent Currency
Traders in Bristol, UK have announced this week they will be launching their own local currency, independent of the British Pound. The Bristol Credit Union and the Bristol Pound Community Interest Company (CIC) are at the helm of the project and anticipate that the new currency will be available by May 2012. The initiative to [...]
Year of the Dragon Banknote
The Chinese New Year is less than two weeks away and both the Banco da China and the Banco Nacional Ultramarino have reportedly issued a new 10-pataca (US$1.25) note to commemorate the upcoming Year of the Dragon. The annual measures were rolled at the start of the year – as Chinese New Year arrives earlier [...]
Quality Control Halts Banknote Production For One Company
After discovering irregularities in the quality and production of banknote paper, security paper maker De La Rue has suspended production of banknotes at their printing plant in Overton, Hampshire for the time being. Though no specific details have been provided, the company said last week that the paper used for making banknotes was not being [...]
