In 2021 a 200 francs coin from French Overseas Issuing Institute (IEOM)
- December 03, 2020
The French Overseas Issuing Institute (IEOM) announces the release of new CFP200 franc coins for September 2021. In fact, the whole range of Pacific francs coinc is replaced. Some coins of the old range were issued since the “Art Deco period” in 1930/1940 and others from the 1970s.
The new coins will contain less metal and will therefore be more economical in the long run. Among this renewal, there will also be the creation of a new two hundred franc coin. The IEOM plans to modernize the range with lighter and smaller coins (smaller shape) than those currently in use.
The territories concerned are New Caledonia, French Polynesia and Wallis and Futuna.
The new 200 franc coin
The great novelty is of course the addition of a piece to the range. A coin of 200 francs which, according to the IEOM, should make it possible to lighten wallets. It will be a bi-metallic coin, like the 2 euro coins.
According to Yann Caron, regional director of the Institut d’émission d’Outre-mer.
“There is a very big logistical project, there is a big project with the Paris Mint to design the coins, then manufacture, transport and distribute them” “And behind it, there is a very substantial saving because we will recover the metal, which we will send back to Metropolitan France”.
The will of the institute is to lighten the wallets and make transactions more fluid, the new coins will be smaller and lighter, requiring less metal in order to limit their impact on the environment. The creation of the 200 Francs CFP (1.66€) coin, corresponding to the price of small purchases such as a baguette of bread or a coffee, allowing payment with a single coin instead of two today. Adjusting the sizes according to the values will also allow a better identification, putting an end to some current inconsistencies, like the 50 Francs CFP coin which is wider and heavier than the 100 FCFP coin.
A new coin’s design
In terms of design, the pieces will reflect the identity of the three Pacific communities. Each piece is distinguished by a different theme: flora, boat, fish, birds, habitat and culture, so as to facilitate their visual recognition and the facial value attached to them.
On the other side, the main motif is made up of New Caledonia’s ridge arrows, musical instruments from Polynesia, and tapas from Wallis and Futuna, as well as Polynesian tikis in the crown.
The creation of this new range should allow to align with international standards and to review their size. No more 50 franc coins that are heavier than 100 franc coins, even though they are less valuable.
“The important thing is to also be able to differentiate the coins for the general public according to the fact that we are on smaller coins, on intermediate coins, and on the coins of higher value” underlines the direction of the IEOM “So it is done each time by a size graduation, and by the change of metal”.
Millions of coins to be exchanged
The institutions will begin the communication campaign at the end of 2020, for the deadline of September 2021. Millions of coins will have to be exchanged, mainly through retailers, as for banknotes. Once the new coins are on the market, users will still be able to go to the IEOM counters to exchange their old coins.
Sources: French Overseas Issuing Institute (IEOM) and NUMISMAG.