Carante – The Central Bank of Barzona announced today that the 25 centimo coin will no longer be legal tender after 29 August 2021. In its press statement, the Bank said the production costs of one coin are more than its value, and it decided it is “no longer viable” to continue producing the coins.

The brass coin, about 18mm, is only worth 0.01 Unified Standard Dollars as of May 2021. First entering circulation in 1975, its use declined with inflation. In January 2012, there were plans to phase out the centimos entirely by the end of 2025 and issue new Lira coins.

The last coin that was demonetised in Barzona was the 10 centimo coin in 2013. When it was phased out entirely by the end of the year, it was only worth less than half a cent.

It was further announced that the high denomination banknotes of 5000 lira (about $202) and 10000 lira (about $403) will be demonetised and removed from circulation after 31 December 2021, in a move to combat criminal use of the high value notes.

The Bank, which has stopped issuing high denomination banknotes since 2016, said the banknotes have seen little use by the general population. The notes have already been gradually withdrawn from circulation. It has advised those still having such banknotes to deposite or exchange for lower denominations.