adminThe Herald, May 28, 1981
THE issue of the new 20c coin has been brought forward to next Wednesday, not June 22 as planned, because the withdrawal of the old coin has inconvenienced the public, the Reserve Bank has announced.
The new coin, about the same size as the present 10c piece, has the Zimbabwe bird on the obverse, the same as the new 50c and $1 coins, and Birchenough Bridge on the reverse.
The new 1c coin is already in circulation and the 5c and 10c coins will be issued on June 22, completing Zimbabwe’s change-over to the new, lighter coinage.
There is no replacement for the 25c piece. The 20c pieces were withdrawn from circulation because they are the same size as the new $1 coin and both pieces have a Zimbabwe bird on one side.
LESSONS FOR TODAY
The introduction of a new currency is not an event but a process. Just as in 1981 the introduction of the Zimbabwe Gold (ZiG) is being done in phases, which will help control money supply.
Having different sizes of coins and notes is important especially for easy identification. Ideally, notes and coins should be in proportion to the denomination for easy transactions.
The Reserve Bank should expedite the release of smaller denominations to facilitate the issue of change in the market.
Online Reporter