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<p>[QUOTE=&quot;mamooney, post: 278258, member: 2724&quot;]Get your 5 Agorot Coins while you still have the chance...I wish we would do the same with the cent.</p><p>Israel did that with the 1 Agorot years ago...</p><p><br /></p><p>The Bank of Israel asks the government to approve abolishing the 5 agorot coin as legal tender</p><p>&nbsp;</p><p>For many years now, the use of the 5 agorot coin has continually fallen. A survey conducted by the Dahaf institute showed that some 80 percent of the public support the cancellation of the 5 agorot coin as legal tender. Further studies among those companies that regularly deal in cash gave the impression that the public are reluctant to accept the coin as change. Also, many vendor machines and parking meters do not accept the 5 agorot coin.</p><p>Today, with the sharp rise in the price of metal, the cost of minting the 5 agorot coin has risen to 16 agorot. The increasing expense of producing the coin has led the Bank of Israel to search for alternative metals that will reduce the cost of minting. However, the cheapest suitable metal found, with a different color to that of the current coin, would bring the cost of minting down to only 6 agorot, and that against a background of continually rising metal prices. The rise in metal prices raises the fear that the gap between the face value of the coin and its worth as metal would lead to the coin being melted down for its metal value.</p><p>Following the cancellation of the coin as legal tender, the Bank of Israel clarifies that according to the Bank of Israel Law, the nearest legal tender to which prices would be rounded up or down would be the 10 agorot coin. Cancelling the 5 agorot coin therefore would require amounts to be paid in cash ending in 1–4 agorot to be rounded down to the nearest 10 agorot, while amounts to be paid in cash ending in 5–9 agorot would be rounded up.</p><p>If the change is approved by the government and the Knesset Finance Committee, the Governor of the Bank of Israel will issue an order to cancel the 5 agorot coin as legal tender, and the cancellation will become effective after a one-year transition period. The expected annual saving from cancelling the 5 agorot coin is NIS 1.7 million.</p><p><br /></p><p><a href="http://www.bankisrael.gov.il/press/eng/070716/070716e.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bankisrael.gov.il/press/eng/070716/070716e.htm" rel="nofollow">http://www.bankisrael.gov.il/press/eng/070716/070716e.htm</a> </p><p><br /></p><p>The new NIS 2 coin</p><p>&nbsp;</p><p>By the end of 2007, a new NIS 2 coin will be introduced into circulation.</p><p>The Bank of Israel announces that the issue of the coin will reduce spending on currency issues and will make cash payments more efficient by reducing the number of coins involved in a transaction. As a result, fewer coins will need to be carried in pockets and wallets.</p><p>The Bank of Israel adds that before the decision was taken to introduce a new coin denomination, a survey of the public similar to those carried out before the introduction of new coins in the past was conducted by Dr. Mina Tzemach. One survey covered a representative sample of the public, while a special survey covered those parties that deal in cash (bank tellers, salespeople, taxi/bus drivers etc.) The survey showed that most of the public welcomed the introduction of the new coin.</p><p>In choosing the design of the NIS 2 coin, several objectives were considered:</p><p>&nbsp;&nbsp; &nbsp;&nbsp; easy and clear identification of the coin;</p><p>&nbsp;&nbsp; &nbsp;&nbsp; a comfortable size of coin for carrying and using;</p><p>&nbsp;&nbsp; &nbsp;&nbsp; reduction of spending on currency issues;</p><p>&nbsp;&nbsp; &nbsp;&nbsp; blending in appropriately between the existing NIS 1 and NIS 5 coins.</p><p>To assist the blind, the edge of the coin will be marked with notches at four places (coinciding with 3,6,9 and 12 o&#039;clock positions on a clock).</p><p>The first samples of the coin have recently arrived and after they have been examined, the minting process will begin, and by the end of the year, the new NIS 2 coins will enter circulation.</p><p>After checking, the coin will also be passed to vending machine operators in order to adapt the machines to their use.</p><p>Below is a description of the new coin.</p><p>These are the reverse and obverse sides of the new coin:</p><p>&nbsp;</p><p><br /></p><p>&nbsp;</p><p>Weight: 5.7 gr.</p><p>Edge: Smooth but for four notches, as an aide to the blind.</p><p>Thickness: 2.3 mm</p><p>Obverse design: As with other coins in circulation, the design of the new NIS 2 coin was based on ancient Jewish coins that have not yet been used in a modern coin minting. The design chosen for the NIS 2 coin is taken from a coin of Yehohanan, or John Hyrcanus I, and depicts the double cornucopiae (or horns of plenty). The cornucopia is an ancient symbol from the Hellenic period when it appeared on coins and artworks. It is a hollow, animal&#039;s horn, and is shown here draped in ribbons and filled with fruit and grain, which at the time was a symbol of plenty. The pomegranate shown between the two horns, is also a symbol of plenty and fertility.</p><p>Reverse design: On this side appear the words &quot;2 new sheqalim&quot; in Hebrew, Arabic and English; the year of issue in Hebrew; the word &quot;Israel&quot; in Hebrew, Arabic and English; and pearls around the top half of the coin.</p><p>Alloy: Nickel-plated steel.</p><p>Design: Reuven Nutels.</p><p><br /></p><p><br /></p><p><a href="http://www.bankisrael.gov.il/press/eng/070708/070708e.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bankisrael.gov.il/press/eng/070708/070708e.htm" rel="nofollow">http://www.bankisrael.gov.il/press/eng/070708/070708e.htm</a></p><p><br /></p><p>I have requested that the IGCMC sell such issues through their website and mailings, but at this time they do not seems interested for various reasons.&nbsp;&nbsp; If you would like to contact the IGCMC with any concerns, comments, ideas or questions, you may do so through this link:&nbsp; <a href="http://www.isragift.co.il/asp/in_text_contact.asp?lang=eng" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.isragift.co.il/asp/in_text_contact.asp?lang=eng" rel="nofollow">http://www.isragift.co.il/asp/in_text_contact.asp?lang=eng</a>[/QUOTE]</p><p><br /></p>

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