CB selling unused currency notes, coins

The Central Bank is to sell a limited stock of unused Sri Lanka currency notes of early series and old coins targeting foreign coin collectors, numismatics and other international interested parties.

A senior Bank official said the currency notes printed by the Central Bank between 1979 to 2001 including Sri Lanka heritage, development and fauna and flora series which were not circulated, will be available for sale through local agents who hold a membership of internationally recognized numismatic, professional currency dealers associations.

Expressions of interest have been called by the Bank to appoint dealers for this purpose. The bank will also sell a limited stock of old coins under this initiative. Three sets of coins were in circulation in the country since the establishment of the Cetral Bank in 1950. Seven coins of British regime with the portrait of King George the sixth were in circulation till 1963.

The coin pack of this era contains seven coins in the denomination of half a cent to 50 cents. As the value of Brass in the coins which were introduced during World War 2 costs more than the face value, they were replaced first by Aluminum and Cupro-Nickel in 1963, and 1978, and in 1996 by nickel plated steel.

The official said although these coins could fetch a high price in the international market, the bank has no intention to raise money from this initiative which is aimed at propagating the country’s heritage both here and overseas. He added that Central Banks of other countries were following the same practice.