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The Central Bank of the Solomon Islands (CBSI) is pleased to announce the availability of the world's first ever- legal tender gold coin note.
This extremely thin coin note is produced in 0.5 g fine .999 gold and is measured at 90 x 43 mm. The making of this gold coin note renders the product as very delicate in appearance. Advanced minting techniques has enabled high-quality striking of the coin with extraordinary attention to detail.
Currently CBSI is very active in the international numismatic market and has been since implementing a currency reform policy that saw the introduction of new sets of coins and banknotes into circulation back in 2012. Today the Bank continues to gain recognition from avid collectors and buyers worldwide.
This latest project involves CBSI and the World Coin Association and MDM Group, a company based in Germany who have been in the numismatic business for more than 100 years. According to CBSI, this particular project involves stepping out of the traditional coin design and into a hybrid-concept production design that combines both the banknote and coinage characteristics.
Chief Manager of the Currency and Banking Operations Department (CBOD) at CBSI, Mr. Daniel Haridi explained that the project although exciting, does come with its own risks as well.
Haridi explained that CBSI appreciated the opportunity to collaborate with well-established and reputable numismatic organizations like MDM in the promotion of highly innovative numismatic products. He added that though small and isolated from the market, technology has enabled the Central Bank to participate in exciting projects that promises good results for all stakeholders.
"CBSI currently enjoys good branding of its numismatic coin products", Haridi highlighted.
"The effigy which in this case is The Queen's effigy is a highly priced effigy on the market and Solomon Islands has rights to use Her Majesty the Queen's effigy, with prior approval from Buckingham palace, of course," Haridi explained.
"I believe MDM recognizes the importance of this partnership, especially in this new coin project that uses Her Majesty's effigy and this may be regarded as stepping out of the traditional coin/note boundary".
CBSI believes MDM's promotion of this product to its market in Europe and the world over can enhance the country's profile overseas. This can influence sales of numismatic coins and, therefore an increase in revenue stream for CBSI and the country from such numismatic business engagements.
"As a country, the partnership relationship with MDM on a relatively new product would position Solomon Islands as a country that embraces innovation and change despite its size and location", Haridi finally highlighted.
According to CBOD officials, each coin note is professionally packed and set in a protective clear square capsule. At the moment the maximum mintage is limited to 20, 000 pieces only.
In terms of the design, on the reverse, the Effigy of Her Majesty Queen Elizabeth II is depicted in profile and is framed by graphic elements.
The reverse features symbols of the most important world currencies, rotating around planet Earth. In the background, symbols of the financial world are displayed.
Interested coin collectors and individuals can contact CBSI numismatic officer, Ms Patricia Salah, to place their order for the coin note.