Sweden launches cheaper, smaller and lighter coins

The General Council of Sweden’s Riksbank has announced a “sun, wind and water” theme for the country’s new coins, scheduled to be introduced by October 2016.

Three of the existing coins – the SEK1, 2 and 5 denominations – will have a new design, although the SEK10 coin will retain its current design.

The central bank said that the new coins would be smaller and lighter to reduce transport and purchasing costs, as well as reducing the environmental impact of their manufacture.

Sweden will also introduce a new series of banknotes, starting in October 2015, when there will be new SEK20, 50, 200 and 1,000 notes. These will be followed in late 2016 by new SEK100 and 500 notes, and the new coins.

The new coins will be supplied by the Mint of Finland.

A key change will be the change of metal in the coins. The current silver-type SEK1 coin will be replaced by a copper coin, as will the SEK2 coin. The SEK5 and SEK10 coins will have a golden colour.

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