First batch of Maltese euro coins arrives

The first consignment of Maltese euro coins arrived yesterday but the money, which will be in circulation from January 1, remained sealed in containers.

Six containers were unloaded from the ship CMA-CGM Tosca at about 2 p.m. The ship, which sailed from Le Havre, in France, entered the Freeport at about 6 a.m.

On being off-loaded, the containers were moved to the high risk area of the Freeport, where police officers kept a close watch.

The containers will eventually be moved to the strong room that has been erected within the army headquarters in Hal Far. Five other containers carrying more coins are expected to arrive shortly.

Malta will not be producing banknotes but will use 80 million banknotes, having a value of €1 billion, from stocks of the European system of central banks. The notes are expected to arrive later on this year. The euros that will be used in Malta will come from the Banco d'Italia. All euro banknotes are identical, except for a code letter in the serial number that denotes which country they came from.

Starter packs of Maltese euros will be available for sale from December 10. A selection of euro coins will be sold for Lm5. But they will not be legal tender before January 1.

The Maltese euro coins were designed by Noel Galea Bason. They feature the Mnajdra temples on the one, two and five euro cent coins, the Maltese coat of arms on the 10, 20 and 50 euro cent coins and the eight-pointed Maltese cross on the €1 and €2 coins.

The Monnaie de Paris won the €6 million contract from the Central Bank of Malta to produce 200 million Maltese euro coins in eight denominations with a value of €56 million. The minting started in July.

The whole consignment weighs 1,000 tonnes.