CBSI Launches New $1 Coin Featuring King Charles III

The Central Bank of Solomon Islands (CBSI) has officially issued the new version of the $1 circulating coin featuring the effigy of King Charles III.

This issuance marks a significant milestone in the country's monetary history and further solidifies the close ties between Solomon Islands and the United Kingdom, as well as the CBSI's reliable supplier, the Royal Australian Mint Pty Ltd. The Honorable Manasseh Damukana Sogavare, Minister of Finance and Treasury (MoFT), served as the guest of honor at the event, declaring the coin legal tender after unveiling the sample.

The new $1 coin featuring the effigy of King Charles III is now available for transactions involving goods and services in Solomon Islands. The new $1 coin retains the same size and shape as the old version, with the iconic Nguzu Nguzu design on the reverse – a traditional symbol of protection and good fortune. The obverse features the new King's effigy designed by Daniel Thorne (DT), making it the first Solomon Islands coin to commemorate the reign of King Charles III.

In his keynote address, CBSI Governor Dr. Luke Forau stated that the new coin is not just a currency, but also a symbol of Solomon Islands' history, culture, and its connection to the Commonwealth. "This design respects our traditions and reflects the shared values held by Commonwealth countries in recognizing the monarchy," he said.

Governor Forau also called on the people of Solomon Islands to use these coins with extra care and pride. "Please ensure that as the coins come into your possession, they continue to circulate to facilitate small transactions for goods and services," Governor Forau advised. The new coins will be available through commercial banks and their branches or agents after the launch. The CBSI will continue to conduct promotional campaigns to share relevant information to educate citizens about the design and significance of the coins.