Collection coins of National Bank of KR: from the idea to the printing press 

The interest for collection coins is increasing every year. Today, they are purchased not only by professional collectors who regard numismatics as a fascinating hobby, but by many other citizens who are interested in them from the side of investment opportunity. By the way, lucky coin collectors owing to the fact that they possess rare coins can become owners of a big fortune. For example, let’s take a look at a silver dollar, which was issued in 1794. Its cost is about 8 million USD and today it is the most expensive coin in the world. It's hard to believe, but central bank of the USA issued it as a means of payment. Collection coins began to be issued a little bit later. As a rule they have small circulation and diverse topics: from major events of flora and fauna, architectural structures to celebrities. Moreover, collection coins are regarded as legal payments with specified rating. 

In Kyrgyzstan the body which is responsible for issuance of collection coins is National Bank of KR. To date, it has issued 44 coins. The first coins - gold and silver, were issued in 1995 and were dedicated to the 1000th anniversary of the "Manas" epic. 

The creation of coins 

To manufacture a collectible coin it is required to use one to four years. Creation of a coin is a collective work of specialists of National Bank of KR. The process begins from an idea or in modern terms - a concept, that is developed by the staff of cash management department experts at National Bank of KR. After that a work plan for the production of coins is drawn up. All the details are carefully worked out, all the materials related to the topic of future coins are studied by the staff. The specialists of National Bank of KR are cooperated with the National Academy of Sciences, the Central Archive of Film and photo, with universities and many other institutions. All data is carefully collected and analyzed. After that, requirements specification is prepared and designers develop the first sketch of the future coin. All possible options are considered by a special working committee, which includes employees of different departments of National Bank of KR. Sometimes first drawings are changed beyond recognition, often they include elements proposed by different designers as well as by specialists of the Management of money stock department by members of the working committee of the Board. The final version is approved by the Board of National Bank of KR. In addition, based on the analysis specialists of National Bank of KR develop proposals on the materials used and the technology of manufacturing process of coins. After that a tender is conducted and a mint is selected. For example, coins that were put into circulation recently - "Saimaluu Tash" and "Djeiran" were made at the mints of Kazakhstan and Lithuania. In recent years mints of Russian Federation and Poland also won tenders. During the process of plants selection such criteria are taken into account: the cost of coins manufacturing, including the cost of acrylic capsule box, certificate, transportation, all taxes, delivery time, payment terms and other extras . Usually the print of collection coins by the mint takes four to six months. There is no purpose for the creation of banknotes production in Kyrgyzstan. Economic calculations have shown that the establishment of the mint / own printing factory in Kyrgyzstan will certainly be unprofitable, not only because of the significant financial cost of the initial capital investment in specialized machinery and construction, but also in connection with the permanent subsequent high operating costs and the need to finance the purchase of expensive special materials for production of money. Profitability of such production is possible when the population of the country is at least 20 million people. 

The circulation of collection coins depends on the popularity of the theme among collectors. All over the world coin collectors buy coins with the theme dedicated to flora and fauna with great pleasure. The smaller the manufactured coins the higher the cost. For example, the circulation of "Saimaluu Tash" silver coins is 2000 pieces, the value of each sale is 2500 KGS, and the circulation of "Djeiran" silver coins is 3000 pieces at a cost of 2,300 KGS. The coin value at the issue time is virtually the cost of its production, since the purpose of the issuer - the National Bank - is not making a profit. 

Once coins are made they delivered to Kyrgyz Republic. Here employees of the National Bank of KR carefully check the quality of the entire circulation and then coins are issued. In order to guarantee public awareness National Bank of KR publishes a special official statement about the new collection coins. At the final stage the employees of cash management department at National Bank of KR organize professional photography and prepare information on the coins, describe their technical characteristics and image. According to the Article 105 of the Constitution of Kyrgyz Republic National Bank of KR has the sole right to issue banknotes. Any collection coin will be assigned a rating with a certain purchasing power. Only the National Bank shall have the exclusive right to issue currency in accordance with Art. 4 of the Law "On the National Bank of KR". Issued coins can participate in international competitions. At the same time collection coin of any country is nominated by the body which issued it and which receives prizes in case if coin wins. Thus, a series of coins devoted to Chingiz Aitmatov was awarded an honorary diploma from the Trade House "Biblio - Globus" in the framework of the fourth international competition "Coin Constellation - 2010" held in St. Petersburg, while the coin of "Silk Road" series is the winner of the "Coin of the Year" in the nomination "The most historically significant coin", which was held in 2013 by the publishing house «Krause Publications» in Berlin  

Unusual means of payment 

Since independence of Kyrgyzstan National Bank of KR issued 44 collection coins: three types of collection gold coins, 32 species of silver coins, 8 species of copper-nickel coins and a nickel silver coin. All the coins are regarded as legal payments. 

The latest issue was held recently on August 26, 2013. Ad honorem of Independence Day of Kyrgyz Republic celebration starting from August 26, 2013 National Bank of KR put into circulation three types of collection coins: silver and copper- nickel coins "Saimaluu - Tash" with denominations of 10 and 1 KGS, respectively from the series of "Monuments of history and architecture of Kyrgyzstan" and a silver coin "Djeiran" rated 10 KGS of "The Red Book of Kyrgyzstan" series. 

One of the most popular series of coin continues to be dedicated to the works of Chingiz Aitmatov. This is 6 coins of 925th test of silver, based on the novel "Jamila", "Mother's Field", "White Ship", "Goodbye Gulsary" and "The First Teacher". 

One of the most interesting collection coins from the side of design that were issued by National Bank of KR is "The world through the eyes of our children". In 2010 in order to create a coin National Bank of KR announced a competition for the best children's picture on this topic. Subsequently, the child's drawing that won in the contest was taken as the basis and served as unusually bright ornament of the coin, calling warm positive emotions. The contest received more than 300 drawings out of which Asein kyzy Aiym’s drawing was selected. It became the main plot in creation of a collection coin that became unique because there was used a technology of color pad printing that transferred the colors of the drawing. 

In 2012 National Bank of KR put into circulation four types of coins. The series of "The Red Book of Kyrgyzstan" began with the nomination of 10 KGS coin - "Snow Leopard" that was made of silver, with two inserts of Swarovski crystals. Another new series - "National musical instruments" opened a nickel silver coin with the nomination of 5 KGS - "Komuz". Besides, there were issued gold and silver coins "200 Years of Kurmanjan Datca", which includes a series of "historical events". 

All collection coins have the status of legal payments. Although today it is hard to find a person who wants to pay by these coins at their face value. 

Collection coins increase in value as soon as the National Bank terminates their issue. But until that you can buy coins in the vault of National Bank of KR at a fixed price. Subsequently, the coin value is determined on the secondary market and is largely dependent on the preferences of coin collectors. 

Issued licenses / certificates to the following NBFI and exchange office: 

        from September 3, 2013 till September 6, 2013 there were not issued any licenses/certificates. 

Canceled, revoked certificates / licenses of the following NBFI: 

Since September 3, 2013 there was canceled a discount registration certificate of LLC MCC "Evie credit" № 283 from March 30, 2010, for micro crediting individuals and legal entities. Based on the minutes of the general meeting on September 3, 2013. Registered address: Bishkek city, Chokmorova street 240. 

Interbank payments