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How Much Are Bimetallics Worth?

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Pillar of the Community
nalaberong's Avatar
Canada
2805 Posts
 Posted 12/24/2013  02:35 am Show Profile   Bookmark this topic Add nalaberong to your friends list Get a Link to this Message Number of Subscribers
Bimetallic coins seem to be used for the highest, most expensive denominations nowadays - Canada $2, £2, €2, etc.

On the other hand, many other countries use(d) valuable monometallics - Norway 20kr, Swiss 5 CHF, Japan 500 yen, Australia $2, Germany 5 mark, and the like. Are bimetallic coins more difficult to fake? Does Australia take a bigger risk in vending machines with a fairly plain $2 coin?

Then we have countries where bimetallics are enthusiastically used in low denominations: Mexico 1 peso, Turkey 50 kurus, Syria 25 pounds, etc. Do they lose money on this? How expensive is a bimetallic coin to make, really? After all, many bimetallic coins are replaced by monometallic versions to save cost, so there must be some added cost involved. Do we know how much?
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Thailand
1509 Posts
 Posted 12/24/2013  03:22 am  Show Profile   Bookmark this reply Add thai-vic to your friends list Get a Link to this Reply
I can only speak from experience about Thai coins.

The first 10 Baht bi-metallic for general circulation was issued in 1988. Although there were some mono-metallic coins issued before but as commemoratives.

Prior to the general circulation coins a 10 Baht note was used. The last ones were issued about 1991. I would imagine the vast majority of coins are still in circulation. So you're looking at a lifespan of 30+ years. A bank note would be about 3-10 years at best. The conclusion to me is that it's more cost effective to produce coins rather than notes.

As for the choice between mono- or bi- I would say that the bi- is more distinctive and not readily confused with lesser value mono- coins.

Some years ago a 2 Baht coin was introduced to slot in between a 1 and 5 Baht coin. Confusion quickly set in because they all looked the same metallic wise and a lot of store owners would mark the 2's with a felt-tip pen. The goverment subsequently issued new 2 Baht coins in a brass colour.

Having said all that a 10 Baht coin (still being issued each year) is currently worth about 32 US cents or 25 Euro cents so I can't see the Thai government producing coins that have a higher metallic value.
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