The Central Bank of Costa Rica (BCCR) plans to introduce polymer versions of the CRC 1,000 and CRC10,000 banknotes on 15 October 2021. Q Costa Rica reports the new notes are made of plastic polymer substrate – a compound similar to plastic – which makes the notes more durable. They can also be recycled, which is not true of paper banknotes. Perhaps most importantly, the polymer notes help to prevent forgeries. The new notes will co-circulate along all previous polymer notes issued since 2009.

The newest banknotes join a family of modern polymer currency

Leading the way for a new family of Costa Rica currency, new versions of the ¢2,000 and ¢5,000 bills were put into circulation late in 2020. They are made of the same polymer substrate as the ¢1,000 and ¢10,000 banknotes being issued this month.

The bank says the new family of notes are similar in size, shape, and colour to older notes of the same denomination currently in circulation. “Although the new banknotes have adjustments in their design and in their structure of security measures to verify their authenticity and combat counterfeiting, they maintain the same characters, motifs, shades and sizes as those currently in circulation,” the bank said in a media statement.

Cotton paper notes to be removed from circulation

The BCCR also reports that the previous cotton paper notes of all denominations will lose their legal status on the following dates:

  • 2,000 colones (CRC2,000.2):  1 May 2022
  • 5,000 colones (CRC5,000.2):  1 March 2022
  • 20,000 colones (CRC20,000.1): 1 January 2022
  • 50,000 colones (CRC50,000.1): 1 January 2022

Sources:

Banknote News

Central Bank of Costa Rica

MRI Banker’s Guide to Foreign Currency

Q Costa Rica

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