Special Occasion Coins for Annual Meetings of IMF and World Bank Group
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- Special Occasion Coins for Annual Meetings of IMF and World Bank Group
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Bibliographic details
- Authors: Sascha Djumena
- Published: September 1, 2018
Overview
- Author: SASCHA DJUMENA
- Publication: F&D Magazine
- Date: September 2018
- Author role and note: SASCHA DJUMENA is the program coordinator for Central Asia at the World Bank and has been collecting stamps and coins for more than 40 years. Coins and medals shown are from the author’s private collection.
- Purpose: Host nations issue commemorative coins, stamps, currency notes, special medals, and other memorabilia to commemorate and promote the IMF and World Bank Group Annual Meetings, highlighting national heritage, diversity, and progress.
Institutional context and frequency
- The International Monetary Fund and the World Bank Group were created in 1944.
- The leadership and member countries meet every autumn to address global economic issues.
- Inaugural governing-body meeting: held in Savannah, Georgia, in March 1946; a special brass medal depicting US President Franklin Delano Roosevelt on one side and the outline of the state of Georgia on the other was placed at each delegate’s dinner plate.
- Annual Meetings usually take place in Washington, DC; every third year the meetings are held abroad in one of the institutions’ 189 member countries.
Notable commemorative coins, notes, and values
- Philippines (host of the 1976 Annual Meetings): issued a 1,500 piso gold coin—the first tribute of its kind—that can fetch more than $1,500 at auction. Its current face value is $28.
- Thailand (1991): issued a special commemorative folder containing banknotes of 10, 20, 50, 100, and 500 baht overprinted with “1991 World Bank Group/IMF Annual Meetings” in both Thai and English at the bottom and “Specimen” diagonally across each note.
- Countries that have issued unique coins for Annual Meetings include Thailand, Spain, the Czech Republic, the United Arab Emirates, Singapore, Turkey, and Japan.
Design choices, technologies, and symbolic intent
- Commemorative currency highlights local culture, economic progress, and technological innovation; coins and banknotes are apt symbols given the institutions’ focus on the global financial system.
- Dubai, United Arab Emirates (2003): first country to use color in an Annual Meetings coin design.
- Singapore (2006): issued coins featuring a bustling skyline and a map of the world, conveying the country’s position as an international financial hub.
- Japan (2012): used special iridescent technology and microfabrication to give a rainbow-like shine to its commemorative coin depicting Mt. Fuji.
- Peru (2015): issued a silver medal instead of a coin because Peruvian law requires one face of all coins, including commemorative coins, to display the national coat of arms—choosing the medal format allowed depiction of the Cathedral of Lima on one side and the Annual Meetings donut-shaped logo of flags on the other.
Practical and collectible considerations
- Commemorative coins are usually not intended for ordinary transactions but hold special value and are sought after by collectors.
- Host-country issuances can become valuable over time; attendees are advised that obtaining multiple items may be worthwhile.
Current (2018) host and issuance
- “This year, the Annual Meetings are being held in Bali, and the host country of Indonesia will issue commemorative stamps.”
Special Occasion Coins for Annual Meetings of IMF and World Bank Group — F&D Magazine, Sascha Djumena, September 2018.
Content in this bundle
- عملات المناسبات الخاصة
- Commemorative Coins — World Bank/IMF Annual Meetings
- Currency
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