SRI LANKAN-JAPAN COMMEMORATIVE COIN AVAILABLE ONLY IN JAPAN

Kavan Ratnatunga of Sri Lanka writes:

A commemorative one thousand rupee silver frosted proof coin was issued this week to mark 60 years of diplomatic relations between Sri Lanka and Japan.

The frosted proof coin has been struck with twenty grams of sterling silver and has a diameter of 35 mm, which is a new weight and size for Sri Lanka coins. It is the first Lankan coin minted in Japan and first with an actual multi-colour photograph printed on the coin, issued by the local Central Bank (CB).

Both the Central Bank and the Japan Mint have been authorised to retail the coin to interested collectors. The product was over-subscribed and buyers in Japan were selected using a Lottery.

Of the 20,000 coins minted 5,000 were boxed alone and sold in Japan at 6,000 Yen (Rs 10,000). CB ordered a very small number since they don’t expect to sell many at this high price. On 15th November, the CB adding cost of courier charges and VAT, issued about 200 coins to the public at Rs 12,500 each. This is far less than the estimated 1000 coins, needed to meet Numismatic collector demand in Sri Lanka. The remaining 15,000 were packed with a set of 2012 Proof coins of Japan and sold in Japan at 13,000 Yen. This is the first such product with a Lankan coin, but is not sold in Sri Lanka.

To read the complete article, see: Silver coin for 60 Years of diplomacy with Japan (www.sundaytimes.lk/121118/business-times/silver-coin
-for-60-years-of-diplomacy-with-japan-20222.html)

Kavan adds:

	NBS (coinbooks.org) Web