New 50 kopiykas will serve 30 years
In October 2013 the National Bank of Ukraine introduces into circulation 50 kopiykas coins made of new material - low carbon steel with galvanized coating.
The basic premise for change of the material is the use of the latest technology in the manufacture of blanks and coinage, as well as reduction of the cost of the material due to rejection of non-ferrous metals (and alloys), the cost of which in the international market rises and increases the cost of making small coins.
"The new coins are introduced into circulation as part of the planned production", - the director of the General Department of Monetary Circulation Control of the National Bank of Ukraine Victor Nesterenko said.
The analysis of the present world coin production suggests that about 10 metal alloys based on copper, aluminum, nickel, zinc and others are used for making small coins in the world. Coins with galvanized coating are used in about 40 countries, such as European Union, UK, Argentina, Canada and so on.
Using the new material for the manufacture of 50 kopiykas coins maintains a high level of protection against counterfeiting.
New coins are more resistant to wear. They will serve at least 30 years.
The National Bank of Ukraine plans to continue working on optimization of the technical characteristics of bank notes, especially medium denomination coins.
New 50 kopiykas are legal tender on the territory of Ukraine and function in circulation together with corresponding coins made in previous years. That is, "old" coins will not be withdrawn from circulation.
Source - the National Bank of Ukraine