By Central Bank of Argentina coins ……
On December 22, 2017, the Central Bank of Argentina (BCRA) put into circulation new one and five peso Argentina coins. The new Argentina coins will circulate alongside preexisting 1 peso coins and 5 pesos bills currently in circulation.
Both pieces are part of the new family of coins, “Trees of the Republic of Argentina”, composed of four denominations of 1, 2, 5 and 10 pesos. Each denomination features an image of the jacarandá, the drunkard, the arrayán and the caldén, respectively. These species are representative of different regions of the country. And just like the appearance of native animals on Argentinian banknotes, the choice of trees is meant to celebrate the value of Argentina’s natural resources and raise awareness about environmental preservation.
The four pieces form a monetary “cone” of sorts, the base of which is the 10-peso coin, with a diameter of 24.5 millimeters. The cone then extends down to the currency of 1 peso, the smallest coin, with a diameter of 20 millimeters. Each one has a particular tonality that distinguishes them. The monetary “cone” will be completed during 2018 with the appearance of the 2 and 10 peso coins.
Due to their long durations of practical use, coins are better suited than banknotes for low-denomination values, which, in the case of banknotes, suffer faster deterioration due to wear and tear.
The launch of the new coins is part of the BCRA’s money standardization plan, which contains measures such as the issuance of 200, 500 and 1,000 peso bills, the creation of the interbank exchange of banknotes through an electronic platform, and the destruction of more than 1,000 million damaged bills.
Another important measure to improve the circulation of cash is the distribution of 1 and 2 peso coins from the BCRA directly to companies, commercial chambers and related parties. The BCRA provides drums of $ 1 coins (with 150,000 coins, in 300 bags of 500 coins each) and $ 2 (with 100,000 coins, in 200 bags of 500 coins each) against the accreditation of an electronic transfer for the amount correspondent. This process is developed in parallel with the expansion of the electronic means of payment, one of the central management objectives of the BCRA.
About the new coins
The 1 peso coin is made of electrodeposited steel with copper and has a reddish hue. It measures 20 millimeters in diameter and weighs 4.3 grams. It has a thickness of 1.7 millimeters and the edge is smooth.
In the central field on the obverse is a stylized representation of the jacarandá tree. In the upper arch appears the text “ARGENTINE REPUBLIC”; in the bottom, the word “JACARANDÁ”.
On the reverse side of the coin, on the right, is the jacarandá flower, and in the upper arch is the year of coinage “2017”. The motto “IN UNION AND FREEDOM” is located at the bottom. Finally, the denomination “1 PESO” is at the upper left of the top, representing the Northwest region of the country, where this species is most common.
The 5 peso coin is minted in electroplated steel with nickel and its color is silver. It weighs 7.3 grams and has a diameter of 23 millimeters. It has a thickness of 2.2 millimeters and the edge is smooth.
The obverse design features a stylized representation of the arrayán tree. In the upper arch, the text “ARGENTINE REPUBLIC” is observed, and in the lower arch is “ARRAYÁN”, the common name of the tree.
On the right portion of the reverse is a rendition of the arrayán flower accompanied by the year of coinage “2017” and, in the upper arch, the slogan “IN UNION AND FREEDOM”. The location of the denomination “5 PESOS” indicates Patagonia, the region where this species is most representative.
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