You know those big, clunky, silver-color coins of 5, 10, and 20 colones? They're being withdrawn from circulation starting Oct. 1. After the first of the year, they will no longer be valid currency, although at that point, they can still be exchanged at the Central Bank in downtown San Jose. Not that it's any great loss if you end up stuck with these: even the 20-colon coin is worth less than four cents these days. The smaller, newer, gold-color coins of 5 and 10 are still valid.
Good riddance. I think they're a nuisance to be rattling around my pocket.
I know all the bills will be redesigned next year, along with new bills of 20,000 and 50,000. I believe that is coming in the first few months of 2010.
Old-style Costa Rican coins being withdrawn from circulation
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Wow, that is interesting. Not the coin part so much (agree good riddance), but the larger bills. In our experience, any bills larger than 10,000 aren't all that useful! I guess, like here, they come in handy at times, when you are paying out hundreds in cash need to do it with fewer bills. Thanks for the heads up!
When your largest bill (10,000) is now worth about $17, you have to do something. I agree that a visitor who is probably paying for big-ticket items with a credit card won't have much use for the new 20,000 and 50,000 bills.
Even the existing bills will get new designs and colors. They'll all be the same width, but different lengths for ease of recognition for sight-impaired people.
The plan is that the soon-to-be-old bills will always be legal currency. When they find their way to banks, they'll be sent to the Central Bank to be destroyed.
Reminds me, several years ago, my homestay family gave me a 5 colones bill as a gift. It's in good shape, and I've meant to have it framed all these years, along with a few old coins they gave me.
You're right, of course. The 20,000 50,000 bills will come in handy for exit tax!
Bumping this up. The resdesigned bills are definitely coming in March 2010 along with the new 20,000 and 50,000. They'll all be narrower (about 2+5/8 inches) than the current bills, and will vary in length from about 5 inches to 6+1/4 inches.
The fronts will show portraits of famous Costa Ricans; the reverses will show six different ecosystems.
I'd love to see images of these things, but they have not been released yet.
Thanks, Jeff. Interesting information. I'm anxious to see them, too.