Commemorative coins made of precious metals are put into circulation in South Ossetia

Fri, 19/07/2013 - 15:01

The Parliament of South Ossetia adopted a law on issuance of commemorative and investment coins made of precious and non-precious metals. The issue was brought up for discussion at the today's meeting of the presidium of the RSO Parliament by Deputy Chairman of the Parliamentary Committee on Budget and Taxes Vadim Tskhovrebov.

According to law, the issued commemorative coins have a solid equivalent in the Russian currency - 1 unit is equal to 10 rubles, but they cannot be used as a means of payment.
The National Bank of the Republic, which owns the right to issue coins must, not later than ten days before the issuance of coins to present the relevant information in the media - a detailed description of the external design and data containing detailed technical parameters (weight, fineness, diameter, thickness).
The head of the National Bank of South Ossetia Felix Zasseev has reported the MPs that it is planned to issue 350 gold and 650 silver coins. The cost of a gold coin is 35 thousand rubles, the silver one - 3000 rubles.
"In all, for this purpose will be spent about 13 million rubles", - he said.
The coin will be called "zærin."
Earlier, the bill was approved by the government of South Ossetia. The first commemorative coins will be issued in connection with the celebration of this year's fifth anniversary of Russia's recognition of the independence of South Ossetia.

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