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Colombian money won the award for best new currency at the Berlin IACA.
Colombian money won the award for best new currency at the Berlin IACA.

When the Central Bank, Banco de la República, announced August 2012 that Colombian coins as well asm the $1,000 bill would be replaced with “green” money, it was part of a long-term strategy to increase the durability of the currency and transform old money into new, with bold designs.

As more of the new coins came into circulation, the measure by the bank was also aimed at protecting the currency against counterfeiters and hence has saved the entity close to US$ 8 million in yearly production costs.

Iconic images of Colombian biodiversity are on the face of each and every coin; such as the Andean Anteojo bear, the high wetland frailejón plant, the Guacamaya parrot and Caguama turtle. The engravings are also a tribute to some of this country’s most endangered and rare species.

The coins raised eyebrows last year when they were officially presented; and now, they have caught the attention of international monetary entities. This week in Berlin, Germany, during the Money Conference of the International Association of Currency Affairs (IACA), the Banco de la República seized the top award among other world currencies in the category  of “Best new money or series in circulation.”

The Banco de la República had been chosen as a finalist alongside the Central Monetary Authority of Singapore and Malaysia’s Negara Bank.  Colombia’s central bank received the award due to the “uniqueness of the coins, the quality of metal alloys, design,” among other consideration – such as the possibility for persons with visual impairment to distinguish between coins.

So while it’s nice to appreciate the coins in your wallet, it’s even better to know, that all your spare change carries with it, that extra environmental reward, and now, an international award.

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