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Financial Market News

In 2018 NBU’s Sale of Commemorative Coins Showed Almost Threefold Increase
11 February, 15:03

In 2018 NBU’s Sale of Commemorative Coins Showed Almost Threefold Increase

In 2018, NBU’s sale of commemorative coins showed almost threefold increase compared to 2017. In particular, the NBU sold in the internal market nearly 3.1 million commemorative coins worth a total of UAH 139.8 million, including:

·         gold coins - 1,600 pcs

·         silver coins - 65,800 pcs

·         coins of non-precious metals - 1 million pcs

·         coins of zinc-based alloy - nearly 2 million pcs.

In 2017, 1.2 million commemorative coins worth a total of UAH 106.2 million were sold.

Last year NBU also sold about 32,000 bullion coins worth a total of UAH 110.3 million (6,500 gold coins and 25,500 silver coins). It’s two times more than in 2017, when nearly 15,900 bullion coins worth a total of UAH 82.6 million were sold (gold coins - 5,200 pcs and silver coins 10,700 pcs). The NBU purchased 240 bullion coins from private individuals in 2018 which indicates the individuals’ demand for those products and their investment nature.

The commemorative and bullion coins were sold at NBU offices and by the distributing banks. To purchase the commemorative coins and souvenir products, consumers actively used the online pre-ordering system, through which in 2018, almost 400,000 coins were sold.

Auctions were another channel for selling commemorative coins. In 2018, four auctions for the sale of commemorative coins 25 Years of Ukrainian Independence took place, during which the NBU sold 63 gold coins worth a total of UAH 9.2 million.

In addition to the domestic market, the NBU’s numismatic products were in great demand abroad. Last year, over 22,000 commemorative and investment coins worth over UAH 21 million in the equivalent (over EUR 165,000 and USD 531,000) were sold abroad. NBU is successfully developing the markets in the US, Germany, Hong Kong, South Korea and through multinational distribution networks - in other countries around the world.

Overall, in 2018, the NBU issued 41 commemorative coins: 25 coins of non-precious metals, 13 silver coins, 3 coins of zinc-based alloy. Their total number was nearly 4 million coins. Also, the NBU issued 5 commemorative medals devoted to the anniversaries of higher educational institutions and academic institutes for a total number of 83,500 pieces.

As a reminder, Best Coin of the Year Contest starts on 1 February 2019 to award the best coin of 2018.

For reference:

Ukraine launched its own numismatic program in 1995.

Every year, the NBU issues about 40 commemorative coins. These coins are included in 30 series and commemorate Ukrainian history, traditions, nature, achievements, cities, architectural monuments, and outstanding Ukrainians.

In 2018, the NBU focused on the issuance of numismatic products to commemorate the 100th anniversary of the events of the Ukrainian Revolution of 1917-1921: commemorative coins ‘100 Years since the Establishment of Ukraine’s Academy of Sciences’, ‘100 Years since the Issue of First Ukrainian Postal Stamps’, ‘100 Years since the Establishment of Vernadsky Tavrida National University’, ‘100 Years since the Creation of the Ukrainian Navy’ and a souvenir banknote ‘One Hundred Hryvnias’ were issued.

Also, in 2018, special issues of 10 hryvnias commemorative coins of non-precious metals (zinc-based alloy) were launched. They are a legal tender and are of national importance by their theme: ‘Defenders of Donetsk Airport’, ’Ukrainian Volunteer Day’, ’100 Years since the Creation of the Ukrainian Navy’.

There were commemorative coins dedicated to the 100 Years since the Establishment of the Ukrainian Red-Cross Society, the achievements of the Ukrainian national team at the 2018 Winter Paralympic Games, anniversaries of prominent personalities of Ukraine: Liubomyr Huzar, Ivan Nechui-Levytskyi, Valentyn Hlushko, Olha Avilova, Oleksii Kolomiichenko, Oleksandr Shalimov, Leonid Zhabotynskyi, and Vasyl Sukhomlynskyi.

bank.gov.ua

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