Head of the mint authority Ahmed Saad has said coins will be used instead of paper  notes to mark the   pound and the fifty  piasters since coins are cheaper to circulate in the long run.  Mr. Ahme...

  Head of the mint authority Ahmed Saad has said coins will be used instead of paper  notes to mark the   pound and the fifty  piasters since coins are cheaper to circulate in the long run.  Mr. Ahmed Saad, the authority chief has explained that the estimated life span of a one pound coin can last up to 20 years whereas the pound note cannot survive beyond a year.  Mr. Saad has announced that  categories for  one pound  and fifty piaster coin categories  will be circulated next June in an initial launch to the treasury,  the Central Bank and its subsidiary banks.  One million pounds are expected to be circulated in the first phase.  Mr. Saad said the one pound coin will be laid out with  copper and white nickel on the outer rim while the inner rim will be made of copper and aluminium. (Source: rose al-youssef)