NRB begins sales of medallion coins

By A Staff Reporter,Kathmandu, Sept. 25:The Mint Division under the Nepal Rastra Bank (NRB) has started the sale and distribution of ‘medallion coins’ bearing the image of national animal ‘cow’ from Sunday.

Governor of Nepal Rastra Bank Maha Prasad Adhikari launched the coin amidst a function held at the office of Mint Division, Babarmahal today. The Mint Division under the NRB has been transferred from Sundhara to the premises of Nepal Aushadhi Limited at Babarmahal and it has started the minting work by repairing the old machines.

According to the NRB, the Division has minted and sold two types of silver medallion coins of 10 grams and 25 grams.

The price of a 10-gram coin has been fixed at Rs. 1,600 and Rs. 4,000 for a 25-gram coin.

According to the Division, the medallion coins were minted by melting the silver available with the NRB.

The 999-touch silver has been used in both the coins. Coins issued without mentioning the rate are called 'medallions'. The Division said that it will continue the minting of medallion coins keeping in view the demand for coins from the general public.

The meeting of board of directors of NRB held on June 2, 2023 had approved the minting of the said 10-gram and 25-gram medallion coins.

Minting of gold coins (asharfi) and commemorative coins was affected for almost two and a half years in lack of office space of the division. Its previous office located at Sundhara was demolished for the reconstruction of the Dharahara Tower.

With the technical assistance of the Department of Mechanical Engineering, Kathmandu University, all the machines worth millions of rupees affected by rust, quake and disuse were repaired and maintained.