Large amounts of small denomination coins (L.E. 1:00, L.E. 0.50 and smaller), worth L.E. 14.9m, were put in market circulation in August in order to cope with the rising demand on change which coin...

  Large amounts of small denomination coins (L.E. 1:00, L.E. 0.50 and smaller), worth L.E. 14.9m, were put in market circulation in August in order to cope with the rising demand on change which coincides with the sales, Ramadan and Eid al-Fitr (Lesser Bairam) seasons, said Dr. Youssef Boutros Ghali, the Minister of Finance. On the other hand, Ghali said that demand on gold and silver memorial coins began to recover once again after the global economic crisis, as the Public Treasury sold 16,060 pieces worth L.E. 1,421 m last year, compared to 5,091 pieces worth L.E. 655,188 the year before. The Public Treasury's main and local offices continue to take and replace damaged banknotes, the Minister added, indicating that L.E. 12,720 worth of damaged banknotes (in the 5 and 10  pts denominations) were received from the public last year.The gold pound price rose to L.E. 1,786.36 last July, while the half pound hit L.E. 950, said Somaiya El-Shiekh, head of the Egyptian Mint Authority. These are mainly sought by collectors of memorial coins, she explained. The price of a silver pound issued before 1995 amounted to L.E. 59.10, while a silver piece issued after 1995 rose up to L.E. 83.36.  A silver five pound scored L.E. 95.45, while a memorial Opera Aida silver coin amounted to $ 20. An old 10 pts coin sold at L.E. 2, while the old 20 pts coin stood at L.E. 2.45, she added. (Source:Ministry of Finance)