Central Bank of The Bahamas: Decommissioning One Cent Coin This Month

CB Press Release: In January 2020, the Central Bank will cease the issuance of the one cent coin, and begin a process of removing the coin from circulation.

Decommissioning as legal tender would occur on 31st December 2020.

For the remainder of 2020, the Central Bank would embark upon a programme to redeem supplies of the one cent coin in active circulation.

A further 6-month window is authorised, during which the public will still be able to redeem the coins but not spend them.

Important Dates:

January 31, 2020: Last issuance of 1-cent coins by the Central Bank.

Until December 30, 2020: 1-cent coins may still be used as a medium of exchange in The Bahamas.

December 31, 2020: 1-cent coins demonetized and are no longer considered legal tender in The Bahamas.

Until June 30, 2021: 1-cent coins may continue to be redeemed at Central Bank partner locations, to be announced.

For more information, please visit https://www.centralbankbahamas.com/news.php?cmd=view&id=16663

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