New Coins And Notes For Zambia Released

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Author	Replies: 5 / Views: 2,674
Riverbreak New Member United States 39 Posts	Posted 02/20/2013 6:13 pm Zambia has not issued any coins since 1992, so this is pretty big news. The coins are somewhat reminiscent of the 1992 issue, but depict different animals and different sizing. It's nice to see the ngwee get a second lease on life... http://www.lusakatimes.com/2012/09/...oins-images/ The story is a typical end of the Cold War one. A US backed strongman once played the platform of "anti soviet" while claiming to be mediator and philanthropist. But US satraps were not as lucky as some of those backed by the French. Kenneth Kaunda was "encouraged" to step down, and when he obliged his failed economic policies culminated in a massive devaluation, fueled further by disastrous reforms in the nineties. It took two decades, but recently, the central bank decided to finally lob a few zeros off of Zambia's currency. So far, it has generally received positive feedback from Zambians. Recon the long suffering Kwacha has finally been stabilized? Report this Post to the Staff

Pertinax Pillar of the Community United Kingdom 2135 Posts	Posted 02/21/2013 07:13 am The article states that the new coins and notes become legal tender on 1 Jan 2013, but the revaluation of 1,000 Kwacha to 1 new Kwacha was approved by the Government of Zambia on 23 Jan 2012. In the first 6 months of 2013 the old and new will circulate side by side. The actual coins are different sizes. The 1 Kwacha is 24mm nickel-plated steel. 50 Ngwee is 21 mm brass-plated steel. 10 Ngwee is 20mm brass-plated steel. 5 Ngwee is 19mm nickel-plated steel. I wonder whether there'll be confusion between the 50 and 10 Ngwee - will the partially sighted get cheated ? More info on http://www.boz.zm/currencyFiles/KWA...AL_BANKS.pdf Edited by Pertinax 02/21/2013 07:19 am Report this Post to the Staff
allranger Pillar of the Community United States 1391 Posts	Posted 02/21/2013 09:15 am I like the African coins with the native animals. I assume I'll have to pick these up on ebay? Report this Post to the Staff
Riverbreak New Member United States 39 Posts	Posted 02/22/2013 03:30 am I've checked and you can actually already find them on ebay and a couple other places. And they aren't expensive either. Nice, decent animal set for anyone hoping to add to their "zoos." There's usually a change out period when the old and new stuff circulate side by side. Introducing new tender while pulling in old tender is a pretty big process. Unfortunately for a few, opportunists will probably take advantage of the confusion these things tend to cause and if you're not looking, you might find yourself shortchanged. These digital renditions of all the coins are never the best because they don't always hint at actual size or composition. Report this Post to the Staff
Riverbreak New Member United States 39 Posts	Posted 02/22/2013 03:37 am As for the two conflicting dates, I'm guessing that they meant to say revaluation came into law on January 2012? Production of new coins and notes to service an entire country takes months. And you have to get the public aware and set up all the necessary preparations, which means more time. But the release of the new tender of course being the new year, when enough has been produced to meet immediate and near term commercial demand. Report this Post to the Staff
Pertinax Pillar of the Community United Kingdom 2135 Posts	Posted 02/22/2013 06:33 am It's curious, if they had intended the coins not to circulate before 2013, why would they date them 2012 ? I wonder if they will issue more coins dated 2013 and if so whether the 2012 coins will be rarer ? They might be more common as the first year of issue. Report this Post to the Staff
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