… Amid circulating trends
BY KWANELE TSABEDZE
MBABANE – Old Lilangeni coins are not worth more than the amount that is written on them.
This was clarified by the Central Bank of Eswatini earlier today through their official social media channels.
The post released by the bank clarifies that they do not buy Old Lilangeni coins.
“Old Lilangeni coins do not gain value over time, they are exchanged at face value at a ratio of 1:1. This means that if you bring an old 1998 E1 coin to the Central Bank or commercial bank for exchange, you will get E1 coin that is currently in circulation,” read the statement from the Central Bank.
The post was released as part of a continuous education to the public concerning issues of monetary policy and currency updates.
A simple search on Facebook Marketplace reveals that there are many people who are selling old coins and who claim to buy them. This alleged market for old coins may have been sustained by the knowledge that some very old coins were made of precious metals like gold or silver. However, all Old Lilangeni coins were never made of these precious metals and their value does not appreciate with the price of gold or silver.
The public can find more reliable information about the country’s currency and monetary policy by visiting the Central Bank of Eswatini website or by following their official social media pages.
