Sunday 23 September, 2018

One cent coins redeemable at Central Bank

While one cent coins are no longer legal tender and can no longer be exchanged at commercial banks, the coins can be redeemed indefinitely at the Central Bank.

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In January 2017, the Central Bank announced that the one cent coin would be retired, while there would be a change the metal composition of the 5, 10 and 25 cent coins - a cost-effective move expected to save the Bank an estimated $15 million in minting costs yearly. 

The one-cent coin ceased to be legal tender today (July 3).

For those who still have one cent coins to be redeemed the Bank's opening hours are 8 am to 2 pm Monday to Thursday and 8 am to 3 pm on Friday.   

 

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