WYD Commemorative coins
The Ministry of Economy and Finance (MEF) has announced that the World Youth Day coin will start circulation on October 8th. 40 million $1 coins have been minted for this occasion!
This as part of continuity to the regulations of Law 78 of 2017 that approves circulation coins, as well as collection which is referring to this historic event that will take place in Panama from January 22 to 27, 2019.
The Legal Supervisor of the Treasury Department of the MEF, José Ramón Fernández , stated that 40 million coins will be minted with the denomination of one dollar.
Fernandez said that the first design that will come into circulation is of the Cathedral Santa María La Antigua. This design will have the image of the Cathedral Basilica Santa María La Antigua and the identification of the WYD Panama and on its back, there will be the national coat of arms and the denomination of one dollar.
The MEF indicated that there will be a collection of eight designs and the next one to enter circulation will be that of the San Felipe Neri Oratory. The circulation date will be announced soon.
The letter of the MEF establishes that for the purposes of Law 78, was to authorize 2,000 sets of quality coins aimed at collectors. The commemorative coins will have the six designs of the churches, plus the logo of the WYD and will enter the market with a denomination of 20 dollars, a diameter of 38 millimeters and a wooden presentation case with a finish that is in harmony with the world-wide importance of the event.
The Legal Supervisor of the Treasury General Directorate of the MEF indicated that this collection of coins has a purity of 99.99% silver, with a selective bath of 24 carat gold. Each of the cases will have the complete set of commemorative coins and will be available in December at the National Bank of Panama at a cost of $1,000.
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