Following complaints about the state of their lowest denomination note, the 500 Shilling, the Bank of Tanzania have announced plans to move the note-coin boundary by converting this note into a coin. The green 500 shilling note is remaining in circulation for much longer than originally expected and with it not returning for fitness sorting, the notes are becoming damaged and soiled. The latest series of banknotes were issued in January 2011, therefore making this a quick change for the Bank, however the coin lifespan of seven years has quickly become preferably to the note, which becomes worn after 7 months.
Author: SMI
https://www.securamonde.comSMI 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.