BREAKING NEWS

Bank of Israel plans new series of coins

By GLOBES

APRIL 23, 2011 21:53

The Bank of Israel is planning a new series of coins, 25 years after issuing the current series. The new coins will enter circulation within 2-3 years.

The reasons for the new coins to prevent forgery, reduce production costs, and to refresh the currency after a generation. Current production costs of the 10 agorot and 50 agorot coins are almost equal to their nominal value.

The new coins will have a completely different design from the current ones. No decision has yet been taken on the new designs, or how many coins will be issued. Most likely the same six denominations - 10 agorot, 50 agorot, NIS 1, NIS 2, NIS 5, and NIS 10 - will be issued under the new series.

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