One and Two Cent Coins No Longer Legal Tender After June 30 2020

One and two cent coins will cease to be legal tender in Montserrat, effective June 30th this year. The Eastern Caribbean Central Bank announced the withdrawal of the coins this week.

On July 1st 2015, the Eastern Caribbean Central Bank ended the issuance of one and two cent coins to the commercial banks operating within the Eastern Caribbean Currency Union, ECCU, but stated that the coins would remain legal tender up to June 30th 2020.

The ECCB Monetary Council took the decision to withdraw the coins from circulation based on the low purchasing power of the coins and the significant cost of producing and handling the coins.

The ECCB’s Acting Director of the Currency Management Department says persons have until the end of June to use the one cent and two cent coins or take them to their commercial bank and receive face value.

The ECCB is the monetary authority of a group of six independent Caribbean nations: Antigua and Barbuda; Grenada; Saint Kitts and Nevis; Commonwealth of Dominica; Saint Lucia, Saint Vincent and the Grenadines; and two British overseas territories: Anguilla and Montserrat

The one and two cent coins all have Ian Rank-Broadley's depiction of Queen Elizabeth II on the obverse.

The reverse carries the denomination numeral along with other markings. These coins for the East Caribbean States share common designs.