Latest $1 dollar add to $46.8m coins in circulation

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The  new one dollar coins launched last week added to the more than $46.8m worth of coins now in circulation at the end of 2024.

The Governor of Central Bank of Solomon Islands, Dr Luke Forau confirmed during the launching last week:

He said: “The new and colourful bank coin will join more than $46.8 million worth of coins already in circulation as at end of December, 2024.”

The new $1 coin carries new King Charles effigy on it.  The new one-dollar coins is worth $3.4m, the bank confirmed. This means around $50m worth of coins will be in circulation if all the last coins are circulated.

Dr Forau reminded the public to look after the coins as it was costly to print new ones.

He stated that it costs the Central Bank around SBD3.4 million to get the new $1 coin with the new effigy from their supplier.

“I appeal to the people of Solomon Islands that you USE your new coins with extra care and pride but we would also advice you all to ensure that you do circulate the coins once it comes around your way to facilitate small changes in the trades of goods and services.

“Our advice is: Do not store them away in containers, piggy banks or hide them under mattresses,” he said.