Other than the ordinary currency that it used to facilitate transactions, the Central Bank of Kenya produces unique currencies which are sold for up to Ksh 200,000.
The coins are produced to commemorate special events and prominent personalities by the CBK.
According to a source from CBK who spoke to Kenyans.co.ke on condition of anonymity said that the coins are available for Kenyans to purchase.
For instance, when Kenya celebrated 50 years, four different types of coin were produced. The most valuable of the series is made out of 99% gold and comes in a fine gold leather case and sold at Ksh 200,000.
A similar commemorative coin was produced when CBK marked 50 years with the same features and sold at the same price.
Kenya at 50 commemorative gold plated silver coins (92.5% silver) with fine gold plating in a synthetic leather case is sold for Ksh 10,000.
“They form a historical reference point and memento for the country. Due to their speciality and use of precious materials like gold or silver, these currencies become very unique attracting demand from numismatic collectors or other individuals,” CBK described the coins.
Sometimes the commemorative coins are issued in circulation such as the Ksh 40 Shilling coin that is very rare.
The Ksh 200 currency that is in circulation even today was first introduced as a commemorative currency, as well as the Ksh 5 nonagon-shaped coin.
“Sometimes the historic value of the coins supersedes the face value. If you were given the Ksh 5,000 coin that was produced to celebrate Kenya at 40, you would most likely keep it rather than rush to the supermarket,” the CBK insider explained.
