Malaysia Names New Currency Producers|
December 14, 2011
This article was originally printed in World Coin News.
>> Subscribe today!
The supplier and producer of Malaysia’s new coin series were announced Oct. 24.
“The appointment of suppliers for the new series of Malaysian coins and bank notes was made through an open tender, said Deputy Finance Minister Datuk Donald Lim. “The supplier selected to supply the coins is Poogsan Corporation of South Korea and the coins are minted at the Bank Negara mint in Shah Alam.” Bank Negara Malaysia is the central bank of Malaysia.
Malaysia is issuing new bank notes at the same time. Lim identified the new bank note suppliers as Crane AB of Sweden, Giesecke & Devrient GmbH of Germany, Oberthur Technologies of France and Orell Fussli of Switzerland. This will be the third series of ringgit coins and the fourth series of ringgit bank notes issued by Malaysia.
The new coins are smaller and lighter than their predecessors. Lim said the change in metal composition, along with other technological specifications should reduce the cost of producing the coins by 49 percent. The theme of the new coins is called Distinctly Malaysia, focusing on nature, flora and fauna as well as traditional handicrafts.
Each of the Distinctly Malaysia ringgit coins features an obverse that will include 14 dots symbolizing the 13 states of Malaysia and the collective Federal Territories. Five horizontal lines represent the five principles of Rukunegara.
The 22.65-mm, 5.66-gram 50-sen coin is comprised of nickel-brass clad copper and has a plain edge. It is different from the lower denominations in that it has nine indentations. The reverse is dominated by a latent-image security feature depicting the denomination numeral 50 that when tilted changes to show the word “sen” instead. The pea tendrils design motif is that of a plant popular among traditional woodcarvers and silversmiths.
The new 5- and 10-sen coins are each comprised of stainless steel and have a plain edge. The destar siga fabric motif of the Kadazan-Dusun tribes in Saba is featured on the 5-sen, with the leaves and plants that are woven into decorative items from the culture of the Mah Meri people on the 10-sen.
The new nickel-brass 20-sen has a coarse edge and features the destar siga as a background against a jasmine flower.
The new coins were made available to vending machine companies in advance for testing purposes. The coins were also made available to the public early as a commemorative coin set, partially for familiarization purposes and partially to satisfy collector demand. The official introduction of the new coins into circulation is scheduled for early 2012.
More Coin Collecting Resources:
• Standard Catalog of World Gold Coins CD
• Subscribe to our Coin Price Guide, buy Coin Books & Coin Folders and join the NumisMaster VIP Program
• Strike It Rich with Pocket Change, 2nd Edition
Add to: del.icio.us digg
With this article: Email to friend Print
Something to add? Notice an error? Comment on this article.