Press releases
1. 2. 2011
  • Banknotes and coins

CZK 50 note to remain in circulation for just two more months

The 50-koruna is the last piece of Czech legal tender existing as both a coin and a note. This is to change in two months’ time. The banknote – featuring a portrait of St. Agnes of Bohemia on its face side – will cease to be valid on 1 April 2011. Only the coin, designed by Ladislav Kozák, will remain in circulation.

“The 50-koruna is the only piece of Czech legal tender in both coin and note form,” said Bank Board Member and Chief Executive Director of the CNB Pavel Řežábek.

This exception will become history in April 2011. The Bank Board has decided to withdraw the banknote on account of the coin’s greater durability and the related reduction in money circulation costs.

“Coins have a far longer service life than notes,” said Mr Řežábek. Coins last in circulation for decades, whereas notes must be changed every 3–4 years. Since 2007, therefore, the CNB has been arranging the production of CZK 50 coins only, and they have gradually been replacing the banknotes in circulation.

There are now almost four times as many CZK 50 coins as CZK 50 notes. At the end of January 2011, there were 62.6 million coins and less than 16 million notes in circulation.

The invalid CZK 50 notes will be exchangeable at branches of the Czech National Bank and commercial banks throughout the Czech Republic until 31 March 2012. From 1 April 2012 until 31 March 2011, they will be exchangeable only at CNB branches.

As from 1 April 2011 there will be six types of banknote (with face values of CZK 100, CZK 200, CZK 500, CZK 1,000, CZK 2,000 and CZK 5,000) and the same number of types of coin (CZK 1, CZK 2, CZK 5, CZK 10, CZK 20 and CZK 50) in circulation in the Czech Republic.

The bimetallic CZK 50 coin has been in circulation since 1993. The same year it helped to raise the Czech Republic’s profile when experts from World Coin News named it Best Trade Coin. “The title of Best Trade Coin proves that our 50-koruna is one of the best coins in the world,” added Mr Řežábek.

Marek Petruš, CNB spokesman