NBS Governor Jorgovanka Tabakovic and President of Mish International Monetary Inc. Robert Mish signed the Framework Agreement establishing business cooperation in the area of numismatics on February 5, the result of which will be the manufacturing of numismatic coins with the portrait of Nikola Tesla, the NBS announced.
In June 2016, representatives of the NBS and Mish International Monetary Inc. commenced the preliminary talks about the possibilities for commercial cooperation in the project of manufacturing a series of silver and gold coins of different size and quality dedicated to Nikola Tesla. Under this Agreement, the NBS will manufacture 210,000 coin pieces annually in line with the approved design, based on the signed individual contracts stipulated by the Framework Agreement.
The Framework Agreement is signed for a five-year period, and the total expected circulation is around 1,000,000 coin pieces.
Silver coins will be manufactured in the inception phase and silver blanks (round metal plates on which the obverse and reverse of a coin are manufactured) for their production will be provided by Mish International Monetary Inc.
, which undertakes all the risks related to the price of silver, marketing, imports of coin blanks, exports of final products and alike.
The NBS – Institute for Manufacturing Banknotes and Coins will produce silver coins in accordance with the adopted design, defined in compliance with the Law on the NBS (nominal value, issuing bank, national symbols of the issuing state, obverse and reverse design). During the five years of the Agreement, the design of the obverse featuring Nikola Tesla will not be changed, while the design of the reverse will feature different Tesla’s inventions.
The plan is to change the reverse every year and to have at least five such changes in the design, which means that no less than five Tesla’s inventions will be presented.
– The cooperation between the NBS and Mish International Monetary Inc. will promote Serbian money, history and famous individuals across the US territory, as Nikola Tesla – a visionary of Serbian origin – counts among the exceptional personalities whose scientific contribution is well-known, considering that his work has changed the world – the NBS says in its press release.
As of June, a certain quantity of coins will be available in the domestic market as well, the NBS announces.