The Bank of Israel is planning to change the country's current series of coins after 25 years, following a recent government decision to change all of the State's banknotes, Yedioth Ahronoth has learned.
The decision is aimed at preventing forgeries, reducing the cost of the metal used to manufacture the coins and changing the current name – "new Israeli shekel" – to the previous name – shekel – on all new coins issued.
The current series of coins has been in use since September 4, 1985, when the shekel was renamed "new Israeli shekel". At the time, 1,000 shekels were replaced with one new shekel.
The first coins issued in the current series were 1 agora, 5 agorot, 10 agorot and 1 shekel. The 5-shekel coin was issued in 1990. The 10-shekel coin, which was the first coin in Israel to be comprised of two types of metal, was issued in 1995, and the two-shekel coin followed in December 2007.
The plan is to issue a whole new series of coins with new designs, which have yet to be decided on. The central bank's advising committee, headed by retired Judge Jacob Turkel, will discuss the new design.
The Bank of Israel refused to officially comment on the coin replacement issue, but a reliable source confirmed the report.
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