Silver Coin Withdrawal On Hold Indefinitely

December 24, 2004

THE Central Bank’s plans to withdrawsilver coins from circulation are onhold until further notice, according totreasury director Ricardo Rodríguez.“Initially, the bank’s board of directorshad chosen Jan. 1, 2005, as the date forwithdrawing silver coins,” Rodríguez toldThe Tico Times.“However, as a result of the biddingprocess (for the production of new, gold-coloredcoins), we became aware of costsinvolved in the production of gold-coloredcoins.“Therefore, the board decided to suspendthe withdrawal of silver coins whilewe conduct further cost studies,” he added.Foreigners are often confused becauseCosta Rica currently uses both silver- andgold-colored coins for ¢5 and ¢10, silverfor ¢20, and gold-colored for ¢1, ¢25,¢50, ¢100 and ¢500. The latter replaced¢500 bills last year.The Central Bank has not issued silvercoins in nearly six years, and announcedin February they would be withdrawnfrom circulation (TT, Feb. 6).

You may be interested

With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalie
Keylor Navas
185 views
Keylor Navas
185 views

With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalie

AFP - December 11, 2017

Real Madrid's first foray into the January transfer market will be to snap up Athletic Bilbao's promising goalkeeper Kepa Arrizabalaga,…

Our High Season Print Edition is here! Here’s where to find it
The Tico Times
454 views
The Tico Times
454 views

Our High Season Print Edition is here! Here’s where to find it

Katherine Stanley - December 11, 2017

In the weeks since the relaunch of The Tico Times on Sept. 1, we’ve been hard at work to reconnect…

Bright Lights Boat Parade inaugurates holiday season in Quepos
Events
527 views
Events
527 views

Bright Lights Boat Parade inaugurates holiday season in Quepos

Elizabeth Lang - December 11, 2017

The Bright Lights Boat Parade marked the official kickoff of the holiday season in the Central Pacific town of Quepos…