Change in the structure of gold and commemorative silver coins issued by the CNB

At its meeting on 11 October 2007, the CNB Bank Board discussed the rising demand for gold coins issued by the CNB and the changing structure of that demand. Further to this discussion, it decided that for issues of gold and commemorative silver coins the upper limit on the number of coins issued will, with effect from 2008, equal the sum of the previously separate upper limits on the number of normal- and proof-quality coins.

'The ratio between the numbers of normal- and proof-quality coins has changed significantly recently. With this step the central bank is responding to the increased demand for proof-quality coins - while maintaining the ceiling on the overall issue," says Tomáš Hládek, Executive Director the CNB's Cash and Payment Systems Department. The number of gold coins of each motif issued will remain limited to 14,000, with the equivalent limit for silver coins staying at 40,000. As from 1 January 2008, however, there will be no limits on the numbers of coins of a particular quality issued. Up to the end of 2007 the limits are 7,000 normal-quality coins and 7,000 proof-quality coins in the case of gold coins, and 20,000 normal-quality coins and 20,000 proof-quality coins in the case of silver commemorative coins. The specific numbers issued will continue to be determined solely by market demand.

Pavlína Bolfová, CNB spokesperson