€25.91 million worth of Maltese coins unredeemed
Old Maltese currency coins to a value of €25.91 million remained unexchanged by yesterday - the closing day for the exchange of these coins into euros. The Central Bank said in a statement that more than 4,000 people called at the bank in January to...
Old Maltese currency coins to a value of €25.91 million remained unexchanged by yesterday - the closing day for the exchange of these coins into euros.
The Central Bank said in a statement that more than 4,000 people called at the bank in January to exchange coins presenting from a few cents for the smallest transactions recorded to larger ones exceeding a thousand lira in value and tens of thousands of coins.
The bank said that although it could not be ascertained why so many coins were not returned, it had to be assumed that a large proportion would have been exported by tourists visiting Malta over the years.
he returned coins, amounting to around 94 million pieces and weighing some 400 tonnes, are to be sold to specialised companies engaged in recycling the metal content.
Maltese lira banknotes can continue to be exchanged at the Central Bank's Annexe at St James’s Counterguard, Valletta until January 31, 2018.
|
|
Lm value (Lm ’000) |
Volume |
|
1 January 2007 (one year prior to euro changeover) |
20,852.2 |
238,654,095 |
|
31 December 2007 |
18,714.1 |
228,334,056 |
|
31 January 2008 (end of legal tender period) |
13,814.7 |
185,902,447 |
|
1 February 2010 2m 3m 5m 1c 2c 5c 10c 25c 50c Lm1
Total uncollected coins |
17.8 21.9 36.5 469.7 686.9 1,026.5 1,907.5 1,554.9 2,045.8 3,354.3 |
8,879,505 7,311,147 7,297,180 46,965,650 34,346,238 20,530,811 19,074,708 6,219,786 4,091,697 3,354,295 |
|
11,121.8 |
158,071,017 |