Old Silver Coins Being Taken Out of Circulation

October 6, 2006

The Central Bank this month began to take out of circulation the silver coins of ¢1, ¢2, ¢5, ¢10, and ¢20, Central Bank Treasury Director Ricardo Rodríguez told The Tico Times.

The Central Bank is required under a 2004 Sala Constitutional ruling to replace the silver coins with others designed so that blind people can distinguish different coin values.

The Central Bank began putting new smaller gold-colored coins into circulation in July. Rodríguez said the public can help take the silver-colored coins out of circulation by taking them to the bank. Though the old coins still have the same value, the Central Bank will decide early next year when to devaluate them.

Rodríguez said the Central Bank will put another 10 million ¢500 coins into circulation during the coffee harvest season, which started last month and goes until December.

The coins are in high demand during the coffee season because farm owners pay workers about ¢500 per cajuela harvested. A cajuela is a basket of coffee that weighs about 32 pounds.

 

Facebook Comments

You may be interested

News
433 views

The Tico Times Weekly Digest: March 18, 2019

Alexander Villegas - March 18, 2019

OIJ joins the investigation into two police officers, the 737 Max is banned from Costa Rican airspace and some awesome…

Volunteer firefighters mobilize to protect Nosara from wildfires
Changemakers
1245 views
Changemakers
1245 views

Volunteer firefighters mobilize to protect Nosara from wildfires

Alejandro Zúñiga - March 18, 2019

Fueled by strong winds and unusually dry conditions, wildfires near Nosara, Guanacaste have forced a community of volunteer firefighters to…

Costa Ricans star as FC Cincinnati wins first MLS match
Costa Rica
1041 views
Costa Rica
1041 views

Costa Ricans star as FC Cincinnati wins first MLS match

Alejandro Zúñiga - March 17, 2019

The match may have been played in Ohio, but all eyes were on Costa Rica’s stars as FC Cincinnati defeated…