New NT$50 coin `counterfeit-proof'

The central bank yesterday unveiled the new NT$50 coins, which was designed to thwart attempts at counterfeiting.

The new coins -- which feature a portrait of Sun Yat-sen (孫逸仙), the founding father of the Republic of China, on the front and anti-forgery features on the back and edge -- will become the third NT$50 coin issued by the central bank since 1992.

The new coins will be circulated in Taiwan, Matsu and Kinmen from April 26, said Chang Han-teh (張漢德), director-general of the bank's issuing department, at a press conference to announce the new design.

People will then be able to exchange the new coins for new bills at all banks around the nation, without any limitations on the exchange amount.

Chang said the existing NT$50 notes and small-size NT$50 coins will be taken out of circulation on June 30.

The other, two-color NT$50 coins will remain in circulation until June 30, 2004.

Chang said the new coins have new anti-forgery designs which the existing NT$50 coins don't. He added that if the new NT$50 coins are tilted, the number 50 will appear to change. The edge of the coin also has anti-forgery characteristics.

While Chang declined to say how many fake NT$50 coins have been found so far, he did say that it's easy to distinguish real coins from fake ones.