Caption: The award
winning 50t coin.
By MATTHEW VARI
Sunday, May 29, 2016 (Sunday Chronicle, PNG)
THE country’s first, and the only coloured coin in the region has won the “Best new circulating coin or coin series” from the International Association of Currency Affair’s, Excellence in Currency Awards for 2015.
Central Bank Governor Loi Bakani said the award winning coin was the VX Pacific Games coloured 50t commemorative coin.
“The 50t commemorative coin for the 15th Pacific Games went on display and won the award for the best new circulating coin or coin series,” he said.
“That’s in itself shows that our products can be competitive out there in the international world.”
“You will find that you will not see many of the coins because many people are keeping them refusing to circulate them.”
He said more will be minted for circulation, with the older coins without the Pacific Games logo currently being circulated.
“Our coins are made in Canberra by the Royal Australian Mint. We’ve previously used other mints in UK and Canada, but since the Royal Australian Mint improved their capacity to extend their business to other countries so over the last few years engaged with them.”
“The 50t coin is the first circulating coloured coin in our currency and in the region- us together with the Royal Australian Mint trialed it out and got in onto the 50t coin, it is the first awards in terms of our coins.”
“In terms of bank notes, the K100 note came second in a competition some years back. Every year international communities get together and judge whatever is submitted for competition.”
“So few years ago when we released the K100 we came second mainly because of the design- it depicts the transition of PNG from old traditional economy to the modern one we have today and that story of transformation won us second place.”
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