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SMI is the acknowledged world leader in the provision of independent technical & commercial expertise to the currency industry. Founded in 1994, SMI consultants each have many years’ experience working in the currency industry, and consequently have extensive knowledge and understanding of all aspects of the banknote and coin markets, offering consultancy services on a range of issues related to the security, manufacture, issue, circulation and management of physical cash in the economy.

BCEAO confirms there is no new banknote

Banknotes, NewsBy SMI 11/04/2016

Since the 1 April 2016 there have been several reports published by local online news agencies that a new 50,000 West African franc banknote will be issued into circulation from the 30 April. Included in the reports is an image depicting how the note will look. However, a statement has been issued by the BCEAO (the Banque Centrale des Etats de…

Switzerland issues new 50-franc banknote

Banknotes, NewsBy SMI 07/04/2016

The Swiss National Bank (SNB) has unveiled the new 50 franc banknote, the first of the banknotes from the long awaited ninth series. The design focuses on the element of wind. The note, which is 70mm by 137mm, is made using Landqart’s Durasafe® substrate composed of a central transparent polymer layer between two cotton paper layers…

Vietnam issues commemorative collector note

Banknotes, NewsBy SMI 06/04/2016

The State Bank of Vietnam held a press conference on the 4 April 2016 to announce that a souvenir (commemorative) 100 dong banknote will become available during May this year, to celebrate the 65th anniversary of the Banking Sector. The new note uses a substrate developed by paper producer Arjowiggins Security called DIAMONE® COMPOSITE which uses…

Poland issues new 20 zloty banknote

Banknotes, NewsBy SMI 05/04/2016

Poland’s Central Bank, the Naradowy Bank Polski, will issue a new collector 20 zloty banknote on the 12th April 2016 to commemorate the 1050th anniversary of the Baptism of Poland. The note, which was designed by Kristin Michalczuk and printed by the Polish Security Printing Works (PWPW S.A.), contains several modern security features, including De La Rue 3D lens technology based security…

New Colombian 100,000-peso banknote

Banknotes, NewsBy SMI 04/04/2016

A press release from the Colombian Central Bank, the Banco De La República, has confirmed that a new 100,000 peso banknote was introduced on the 31 March 2016. The note is the first of a new series of banknotes issued by the Central Bank, and is an additional denomination to the previous banknote series which consisted…

Royal Mint starts £1 coin production

Coin, NewsBy SMI 01/04/2016

The new 12 sided £1 coin has officially gone into production a year before it is due to be issued into circulation, with the UK’s Royal Mint producing the coins at a rate of 4,000 coins per minute and the aim of producing 1.4 billion of the new coins. The UK’s Chancellor of the Exchequer, George Osborne,…

How Do Vending Machines Detect Fake Coins?

Coin, News, TechnologyBy SMI 31/03/2016

How vending machines work is a mystery to many people. Just how does it know which coins you are using, or which coins should be rejected? Vending machines, found in offices, hospitals, shopping malls, road service stations, airports, railway stations… just about anywhere, are a sought after convenience when it comes to snacking. But when they…

Ukraine manufactures linen fibre banknotes

Banknotes, NewsBy SMI 29/03/2016

Ukraine’s Central Bank, the National Bank of Ukraine, has manufactured its first batch of banknote paper using linen fibres. A press release issued by the Bank on 23 March 2016 details how Ukrainian banknote paper manufacturers have been investigating the possibility of manufacturing banknote paper by mixing traditional cotton fibres with other plant fibres, such…

Android Pay coming to the UK

Cashless Payments, NewsBy SMI 24/03/2016

Google has announced that Android Pay will be available in the UK “in the next few months”. Currently, it is only available in the US since its launch last September. A Google spokesperson said it was “likely” that the UK would be either the second or third country of operation, with Australia being identified as another country…

Sweden’s Central Bank requests legal right to access cash

Cashless Payments, Currency, NewsBy SMI 23/03/2016

Sveriges Riksbank, the Central Bank of Sweden, has served a notice to the Swedish parliament calling for access to cash to be a legal right. The notice, which was submitted to the country’s Ministry of Finance on the 16 March 2016, asks for the nation’s banks to provide a cash service to ensure access to accounts…