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19 November 2014

The design of a new circulation coin of BGN 2 denomination, issue 2015, has been approved

Today the Governing Council of the Bulgarian National Bank (BNB Governing Council) has approved the design of a circulation coin of BGN 2, issue 2015. The two sides of the coin feature the theme and the image of Paisius of Hilendar taken from the circulating BGN 2 banknotes, issues 1999 and 2005. The same approach has been used to the design of the BGN 1 coin, issue 2002, re-depicting the theme and the image of St. Ivan Rilski from the BGN 1 banknote, issue 1999.

As it was announced in the autumn of 2013, the BGN 2 banknote needs to be replaced by a coin because of the fast wear of the BGN 2 banknotes which requires their frequent replacement, and thus increases the cost of maintaining the cash circulation.

The technical specifications and detailed description of the new circulation coin will be announced later by the central bank and will be published in the State Gazette before releasing the coin in circulation next year. The date as of which the BGN 2 coin will become legal tender will be set by a decision of the BNB Governing Council in 2015.

The BGN 2 banknotes, issues 1999 and 2005, will continue to be legal tender, even after the new BGN 2 coin has entered circulation in 2015.

For the production of the BGN 2 circulation coin, issue 2015, the BNB is going to open a public procurement procedure for delivery of coin blanks under the Public Procurement Law, and the minting itself will be assigned to the Bulgarian Mint EAD.

For further information on the requirements of the BNB Ordinance No.18 on the Control over Quality of Banknotes and Coins in Cash Circulation, the persons who carry out in the course of busi¬ness processing of coins with sorting machines and customer-operated machines can approach the Issue Department of the Bulgarian National Bank at: Sofia 1000, 1, Knyaz Alexander І Sq.