Kiribati Dollar - Coins

Coins

Kiribati's first coins were introduced in 1979 following independence and were directly pegged to the Australian dollar. 20,000 proof and uncirculated sets were released specifically for the collectors market along with a large supply of coins for general circulation within the Gilbert Islands as well as newely annexed territories within Kiribati. The coins were issued in denominations of 1, 2, 5, 10, 20 and 50 cents, and 1 dollar.

Except for the 50 cents and 1 dollar pieces, all of these coins are the same size, weight, and composition as the corresponding Australian coins, with the 1 and 2 cent pieces composed of bronze and the 5, 10, 20, 50, and $1 being composed of cupro-nickel. As usual for other pacific island states, only the lower denominations (1-20 cent) share any commonality, with the largest denominations being unique to their respective countries. The 50 cent piece is round with reeded edges, unlike the dodecagonal (twelve sided) Australian equivalent. The Kiribati 1 dollar is the same twelve sided shape as the Australian 50 cent coin, but it is smaller and oddly enough, weighs about 4½ grams less than both the Australian and Kiribati half dollars.

In 1989, nickel-brass 2 dollar coins were introduced coinciding with Kiribati's tenth anniversary of independence and Australia's issuance of their 2 dollar coin and the demonetization of the 2 dollar note. The Kiribati $2 piece is round and much larger than the Australia's comparatively tiny $2 piece, with the same circumference of the 20 cent coin and a thickness similar to the British 1 Pound coin.

Most Kiribati coins are dated 1979, marking an event to cooincide with independence, but with some exception. In 1992, Kiribati began producing 1 and 2 cent pieces in copper-steel clad and 5 cent pieces in nickel-steel clad restruck off of 1979 planchets as production of these denominations began to exceed the face value with the original materials. These coins are distinct in their luster and obvious attraction to a magnet and were produced to compensate for Australia's discontinuation of the two lowest denominations and a shortage of the latter. However, a small mintage of the 1992 issue 1 cent was struck in bronze. 10, 20, 50, and $1 coins have yet to appear as later issues and do not appear to be restrike coins. So most of the denominations remain as a single date issue. Although Kiribati retained 1 and 2 cent coins well after Australia demoted theirs, redundancy and devaluation has slowly removed these coins from general circulation.

Most coinage within Kiribati is heavily worn or corroded as cash is the main mode of exchange within the islands, with ATM services being nearly nonexistent in most areas outside of the capital. Brief coin shortages are also a common occurrence. Kiribati no longer issues local coinage and hasn't now for quite some time, so most examples are either uncirculated from the bank or heavily used. Australian coinage has also become more frequent than local coinage in more populated regions for these reasons as the government feels it more practical and cost effective to have coins sent rather than specially produced.

Although unnofficial, Kiribati does occasionally issue noncirculating bullion and collectors coinage. Although not to the extent as some other neighboring countries.

The obverse of all Kiribati coins depicts the national crest of the republic, while the obverse depict flora, fauna, and items of cultural importance to the islands. The coins were designed by sculptor and engraver Michael Hibbit.

Reverse depictions are as follows:

1 CENT: Christmas Island Frigate Birds

2 CENTS: B'abal Plant

5 CENTS: Tokai Gecko

10 CENTS: Unripened Breadfruit Plant

20 CENTS: Three Dolphins

50 CENTS: Panda Nut Plant

1 DOLLAR: Outrigger Canoe

2 DOLLARS: Traditional Meeting Lodge and Giant Conch Shell.