Requests for Tenders for Minting of KM Coins 9/17/1999 Tweet The Governor of the Central Bank of Bosnia and Herzegovina, Mr. Peter Nicholl announced in Mostar Friday, that requests for tenders for KM coins in denominations of 1 and 2 KM were being readied for delivery to mints in England, France, Germany and Poland. " We have yet to decide on a design of these coins, however we believe the requests for tenders should be sent out sometime next week, " said Governor Nicholl speaking to reporters after a meeting with commercial bankers in the Mostar region. Mr. Nicholl said that the two coins would probably be of different compositions, the "1KM being a 'white metal' and the 2 KM being a 'bi metal' combination of white metal with a copper center." The 'white metal' is similar in substance to that used to mint the 1 DEM coin. The 'bi-metal' would be similar to the 500 ITL coin (Italian Lira). Preparations for the 1 and 2 KM coins coincide with the recent shipment back to Germany of more than 32 tons of DEM coins from the CBBH vaults. Once a tender is chosen, from one of the four countries listed above, the CBBH will begin a search for a design for the coins, with hopes of placing the 1 and 2 KM into circulation during the first or second quarter of next year. Governor Nicholl says the KM is proving itself to be a superior monetary instrument. "The reserves of the CBBH have now passed the 400 million DEM mark, this is up from less then 140 million when the KM was first introduced last year, so people are not only using the KM, they are holding on to it!", said Governor Nicholl. Governor Nicholl was meeting with bankers in the Mostar region discussing the recent change in the payments system law which takes effect on September 30, 1999. On this date, Croatian Kuna (HRK) and German Mark (DEM) will cease being used in non-cash internal payments by the payments bureaus in the FBiH.
