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Withdrawal Of Low-denomination Coins
The withdrawal of a country's lowest-denomination coins from circulation (usually a one-cent coin or equivalent) may either be through a decision to remove the coins from circulation, or simply through ceasing minting. Reasons This withdrawal may be due to the high cost of production, since the coin may be worth less than its cost of production. For example, when Canada phased out its penny in 2012, its production cost was 1.6 cents per penny. Other reasons include low purchasing power and low utility. Often coins are withdrawn after their purchasing power has been eroded after decades of inflation. In Switzerland, the 1 Rappen coin had fallen into disuse by the early 1980s, but was still produced until 2006, albeit in ever decreasing quantities. Conversely, the British Treasury department initially argued for the retention of the ''decimal'' halfpenny, on the grounds that its withdrawal would drive up inflation. In some countries, such as New Zealand, withdrawn coins are declar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1 Ct 1995 SwissMint
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malta Today
''MaltaToday'' is a twice-weekly English language newspaper published in Malta. Its first edition was published in 1999, and started out as a Friday newspaper. History ''MaltaToday'' was first published on Friday, 19 November 1999. It was edited by Saviour Balzan, and intended to provide an alternative to the English-language press in circulation, such as the ''Times of Malta'' and the ''Malta Independent ''The Malta Independent'' is a national newspaper published daily in Malta. It was started in 1992. The paper publishes an online version branded as ''Malta Independent Online''. References External links Official Website {{DEFAULTSORT: ...''. Initially published weekly on Fridays, the paper was then published on Sundays from 2001, with an additional Wednesday midweek paper being reintroduced in 2007. The style of paper is liberal and pro-European, and is independent of political parties. The sister Maltese-language paper ''Illum'' was first published in 2006. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cook Islands Dollar
The Cook Islands dollar was the former currency of the Cook Islands, which now uses the New Zealand dollar, although some physical cash issued for the Cook Islands dollar remains in use. The dollar was subdivided into 100 '' cents'', with some older 50-cent coins carrying the denomination as "50 ''tene''". History Until 1967, the New Zealand pound was used in the Cook Islands, when it was replaced by the New Zealand dollar. In 1972, local issues of coins of the New Zealand dollar began to be released for the Cook Islands. In 1987, the Cook Islands dollar was established and pegged at par to the New Zealand dollar, with each Cook Islands dollar backed by a New Zealand dollar held by the Treasury of the Cook Islands government and freely interchangeable; the New Zealand dollar remained legal tender alongside the new currency. The Currency Reserves Amendment Act 1989 modified the required backing of Cook Islands dollars to 50% of the face value for circulating currency, and 2% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renminbi
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China. Valuation Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brazilian Real
The Brazilian real ( pl. '; sign: R$; code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the cruzeiro real in 1994. As of April 2019, the real was the twentieth most traded currency. History Currencies in use before the current real include: * The '' Portuguese real'' from the 16th to 18th centuries, with 1,000 ''réis'' called the '' milréis''. * The '' old Brazilian real'' from 1747 to 1942, with 1,000 ''réis'' also called the '' milréis''. * The '' first cruzeiro'' from 1942 to 1967, at 1 cruzeiro = 1 ''milréis'' or 1,000 ''réis''. * The '' cruzeiro novo'' from 1967 to 1970, at 1 cruzeiro novo = 1,000 first cruzeiros. From 1970 it was simply called the '' (second) cruzeiro'' and was used until 1986. * The ''cruzado'' from 1986 to 1989, at 1 cruzado = 1,000 second cruzeiros. * The '' cruzado novo'' from 1989 to 1990, at 1 cruzado novo = 1,000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belgian Franc
The Belgian franc ( nl, Belgische frank, french: Franc belge, german: Belgischer Franken) was the currency of the Kingdom of Belgium from 1832 until 2002 when the Euro was introduced. It was subdivided into 100 subunits, each known as a in Dutch, in French or a in German. History The ''gulden'' (guilder) of 20 '' stuivers'' was the currency of present-day Belgium from the 15th to 19th centuries until its replacement in 1832 by the Belgian franc. Its value differed from the gulden of the Dutch Republic during the latter's separation from Belgium from 1581 to 1816. Standard coins issued in Belgium include: * From 1618: the ''patagon'' or ''Albertusthaler'' of 24.55 g fine silver, worth 2.4 gulden or 48 stuiver (or 10.23 g fine silver per gulden) * From 1754: the '' kronenthaler'' of 25.71 g fine silver, worth 3.15 gulden ''currency'' or 2.7 ''gulden of exchange'' (9.52 g silver per exchange gulden). The French silver écu of 26.67 g silver was also accepted for 2.8 exchange g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangladeshi Taka
The Bangladeshi taka ( bn, টাকা, sign: , code: BDT, short form: Tk) is the currency of the People's Republic of Bangladesh. In Unicode, it is encoded at . Issuance of bank notes 10 and larger is controlled by Bangladesh Bank, while the 2 and 5 banknotes are the responsibility of the ministry of finance of the government of Bangladesh. The banknotes of Tk. 2 and Tk.5 have mostly been replaced by coins while lower denomination coins (including all poysha coins) up to Tk. 1 have almost gone out of circulation due to inflation. The most commonly used symbol for the taka is "" and "Tk", used on receipts while purchasing goods and services. It was formerly divided into 100 poysha, but poysha coins are no longer in circulation. Etymology According to ''The American Heritage Dictionary of the English Language'' and ''Banglapedia'', the word ''taka'' came from the Sanskrit word ''tankah''. The word ''taka'' in Bangla is also commonly used generically to mean any money, curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The Bahamas
The Central Bank of The Bahamas is the reserve bank of The Bahamas based in the capital Nassau. The bank was established on 1 June 1974 but traces its origins to the currency board established in 1919. The bank carries out the independent monetary policy and supervision of the financial sector of The Bahamas. History Currency Board In 1919, the British Government established the Board of Commissioners of Currency to issue local Bahamian currency pegged to the pound sterling. The Board helped promote the Bahamas' emergence as an international currency trading and banking center during the 1960s and 70s. By December 1967, there were 208 banks and trust companies in the Bahamas, up from only 37 in 1963. By 1974, there were 323. However, the legislative framework was inadequate to provide for the proper regulation and supervision of banking activities. Monetary Authority In 1968, the Bahamas Monetary Authority (BMA) was created in the board's place. The government also subse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian Schilling
The schilling (German: ''Schilling'') was the currency of Austria from 1925 to 1938 and from 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 groschen. History Following the Carolingian coin reform in AD 794, new units of account were introduced including the '' schilling'' which consisted of 12 silver ''pfennigs''. It was initially only a coin of account but later became an actual coin produced in many European countries. Before the modern Austrian schilling The currencies predating the schilling include: * The florin, in existence as a currency of the Holy Roman Empire since the 16th century, divided into 8 ''Schillings'' = 60 '' Kreuzer'' = 240 ''Pfennigs'' * The Austro-Hungarian florin after 1857, divided into 100 ''Neukreuzer'' * The Austro-Hungarian crown, introduced in 1892 upon adoption of the gold standard; and * The Austrian crown, introd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Two-cent Coin
The Australian two-cent coin was introduced in 1966 and was the coin of the second-lowest denomination until it was withdrawn from circulation in 1992 (along with the one-cent piece). It is still counted as legal tender, but is subject to some restrictions, and one-cent and two-cent coins are legal tender only up to the sum of 20 cents. History The coin entered circulation on 14 February 1966. In its first year of minting the coin was manufactured at three different mints: 145.2 million at the Royal Australian Mint in Canberra, 66.6 million at the Melbourne Mint and 217.7 million at the Perth Mint. The only year that the coins were minted outside Australia was 1981, when 70.8 million were struck at the British Royal Mint in Llantrisant, Wales, in addition to 97.4 million from Canberra and 81.8 million from Perth. No two cent coins were struck in 1986 or 1987 and the last year of minting was 1989. From 1966 until 1984 the obverse featured the portrait of Queen Elizabeth II ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
