Central Bank Retires Commemorative 500 Colón Coin

October 25, 2010

500 colones just aren’t worth what they used to be.

Starting the first of November the Central Bank of Costa Rica (BCCR) will be retiring one of its two different 500 colón coins. The coin, which was issued in 2000 in commemoration of the 50th anniversary of the founding of the BCCR, displays the Costa Rican national seal on one side and an image of the Central Bank on the other. The other, more common 500 colón coin will remain in circulation.

The commemorative coin still carries legal value in the marketplace until October 31, and during the months of November and December it can be deposited or traded at any bank. But starting on January 2, 2011, the BCCR will be the only bank that will accept the currency.

“We’re retiring the coin because its size is different than the normal 500 colón coin, and it is easily confused with the old 20 colón coin that has already been pulled from circulation,” BCCR treasurer Marvin Alvarado told The Tico Times on Monday.

Facebook Comments

You may be interested

A pilgrimage for a saint: El Salvador mourns
Central America
341 views
Central America
341 views

A pilgrimage for a saint: El Salvador mourns

AFP - March 25, 2019

Hundreds of Salvadorans paid tribute this weekend to their first saint, San Salvador Archbishop Oscar Arnulfo Romero, murdered 39 years…

News
261 views

The Tico Times Weekly Digest: March 25, 2019

Alexander Villegas - March 25, 2019

An indigenous land rights leader was murdered in his home, four cases of measles detected in Costa Rica and La…

Costa Rica Treatment Center tackles addiction differently
Costa Rica
526 views
Costa Rica
526 views

Costa Rica Treatment Center tackles addiction differently

The Tico Times - March 25, 2019

Costa Rica Treatment Center tackles addiction differently. While most drug and alcohol rehab centers shelter their clients from external stimuli,…