Currency of the Republic of Kazakhstan 31 questions
What does ‘proof’ quality mean in minting?
‘Proof’ workmanship is a special technology of minting coins of improved quality with a mirror surface. The National Bank of the Republic of Kazakhstan has been issuing collectors’ coins made of precious metals with ‘proof’ quality since 1999.
Is it possible to return previously purchased collectors’ coins to the National Bank of Kazakhstan, and if yes, how?
Collectors’ coins are issued in a limited edition from precious metals (gold and silver) and base metals (cupronickel and nickel silver). They are intended for collection and development of the numismatic (secondary) market, where demand for them depends on a circulation, subject matter, design, workmanship and novelty of the technologies used.
Collectors’ coins are issued in a limited edition from precious metals (gold and silver) and base metals (cupronickel and nickel silver). They are intended for collection and development of the numismatic (secondary) market, where demand for them depends on a circulation, subject matter, design, workmanship and novelty of the technologies used.
The National Bank buys from individuals and legal entities only those collectors’ coins which were previously issued by the National Bank. Collectors’ coins of other countries are not accepted.
When buying back collectors’ coins made of base metals, a client is paid their face value. When buying back collectors’ coins from precious metals, an examination is carried out to determine content of pure precious metal, fineness and weight in grams.
When calculating a cost of bought back collection coins made of precious metals, morning fixing (price of corresponding precious metals in USD) and a KZT/USD weighted average exchange rate are taken into account. USD fixing of precious metals can be found at www.lbma.org.uk.
If an amount of buying back of collectors’ coins made of precious metals, determined by value of content of pure metal (with specified fineness and weight) in a coin, exceeds an approved selling price fixed by a resolution of the Board of Directors of the National Bank, a client is paid an amount of the initial selling price of the coin.
How one can buy coins in an online shop?
1. GET REGISTRATION AT KAZCOINS.NATIONALBANK.KZ
1. GET REGISTRATION AT KAZCOINS.NATIONALBANK.KZ
- For registration it is necessary to specify a full name, IIN, phone number, delivery address.
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ATTENTION! Password must comply with a security policy: at least 8 characters (one capital letter, digits, special symbols in Latin characters).
- Undergo an authorization procedure.
2. CHOOSE A COIN OF INTEREST AND MAKE A PAYMENT
- ATTENTION! Number of coins available for purchase is limited.
- Before payment it is necessary to make sure that the card has no limitations for Internet transactions (has an amount sufficient to cover the payment).
- Make a payment for goods after you check a delivery address (at this stage, you can change the delivery address).
- Please make sure that an administrator confirmed your order in My Orders section (confirmation is made within 2 business days).
3. RECEIPT OF ORDER
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ATTENTION! Tariff depends on a region (delivery address).
Where can one buy collectors’ coins?
In connection with the coronavirus pandemic, since April 19, 2021, collectors’ coins have been sold in a pilot mode through an online shop of the National Bank.
In connection with the coronavirus pandemic, since April 19, 2021, collectors’ coins have been sold in a pilot mode through an online shop of the National Bank.
Currently, we are working to improve the online shop, and we are also working on alternative options for selling coins.
What banknotes are considered invalid?
Banknotes that have lost 50% (fifty) or more percent of their size, bearing the inscription ‘ҮЛГІ’, ‘ОБРАЗЕЦ', ‘SPECIMEN’, ‘МУЛЯЖ’ as well as banknotes that have fragments of genuine banknotes and cuts with traces of glue and/or adhesive tapes are invalid.
Where and how can one exchange banknotes of the Republic of Kazakhstan withdrawn from circulation?
An unlimited period for exchange of banknotes of the 2006 standard and subsequent years of issue in branches of the National Bank starting is effective from June 12, 2021. Outdated banknotes with 500, 1,000, 2,000, 5,000 and 10,000 KZT denominations of the 2006 standard can be exchanged in all the branches of the National Bank without time limits. All the addresses and contacts of the branches of the National Bank are available on our website.
An unlimited period for exchange of banknotes of the 2006 standard and subsequent years of issue in branches of the National Bank starting is effective from June 12, 2021. Outdated banknotes with 500, 1,000, 2,000, 5,000 and 10,000 KZT denominations of the 2006 standard can be exchanged in all the branches of the National Bank without time limits. All the addresses and contacts of the branches of the National Bank are available on our website.
Please note that when a new banknote is issued, a concurrent circulation period will be effective for 12 months. Both old and new banknotes will be legal money and they must be accepted for all the types of payments during a year.
After a banknote is out of circulation, it can be exchanged both in branches of the National Bank and in branches of second-tier banks (STB) and offices of Kazpost JSC during 3 years.
Where and how can one exchange damaged, worn out doubtful banknotes of the Republic of Kazakhstan?
Banknotes with minor damages (unless they obstruct identification of authenticity of a banknote), which have at least 70% (seventy percent) of their size, (written or digital) signs indicating their denomination, including old ones, must be exchanged in branches of the National Bank. They can also be exchanged at any second-tier bank and branches of Kazpost JSC.
Banknotes with minor damages (unless they obstruct identification of authenticity of a banknote), which have at least 70% (seventy percent) of their size, (written or digital) signs indicating their denomination, including old ones, must be exchanged in branches of the National Bank. They can also be exchanged at any second-tier bank and branches of Kazpost JSC.
Doubtful banknotes that have more than 50% (fifty percent) of their size with damages that make it difficult to authenticate banknotes, are accepted in all second-tier banks and branches of Kazpost JSC. Such banknotes are sent for examination to branches of the National Bank to determine authenticity and possibility of exchange.
Also, doubtful banknotes can be exchanged in all the branches of the National Bank. Banknotes recognized following an examination as authentic must be exchanged and at no extra fee charged. All addresses and contacts of branches of the National Bank are available on our website.
What should be done in case of a refusal to accept, change and exchange commemorative banknotes of the national currency?
Commemorative banknotes are legal money which are withdrawn from the circulation as they naturally wear out. They must be accepted for all types of payments, banking transactions and transfers. These banknotes can be changed and exchanged without restriction by all the second-tier banks and branches of Kazpost JSC.
Commemorative banknotes are legal money which are withdrawn from the circulation as they naturally wear out. They must be accepted for all types of payments, banking transactions and transfers. These banknotes can be changed and exchanged without restriction by all the second-tier banks and branches of Kazpost JSC.
For a refusal to accept, change and exchange such banknotes and coins, article 206 of the Administrative Offenses Code also envisages administrative liability.
If your banknotes are denied, you must contact a regional branch of the National Bank to take appropriate measures. We recommend to make video recording or demand a written justification for a refusal to accept a banknote.
A complete list of commemorative banknotes, as well as information about addresses and contacts of the branches of the National Bank are available on NBK website.
What should be done in case of a refusal to accept, change and exchange the national currency?
If you were denied acceptance, change and exchange of banknotes or coins of the national currency, which are legal money, you should contact the nearest branch of the National Bank for further clarification of the circumstances and application of appropriate measures. Information about addresses and contacts of regional branches of the National Bank can be found on our website.
If you were denied acceptance, change and exchange of banknotes or coins of the national currency, which are legal money, you should contact the nearest branch of the National Bank for further clarification of the circumstances and application of appropriate measures. Information about addresses and contacts of regional branches of the National Bank can be found on our website.
We would point out that article 206 of the Code of Administrative Offenses of the Republic of Kazakhstan provides for an administrative liability in case of a refusal to accept banknotes and coins of the national currency in circulation. First time a warning is issued. For repeated refusal, within a year after an administrative penalty is imposed, a fine is imposed on business entities or non-profit organizations in the amount ranging between 5 and 25 monthly calculation indices. A fine of 50 MCIs is fixed аor second-tier banks and organizations engaged in certain types of banking operations.
Where can one exchange and change the national currency?
Banknotes and coins of the national currency can be changed and exchanged in all the second-tier banks, branches of Kazpost JSC and branches of the National Bank, subject to availability of one or another denomination at a cash desk. Minimum amount and size of fees for transactions of cash change are fixed by banks and branches of Kazpost JSC on their own. In branches of the National Bank they can be changed free of charge.
Banknotes and coins of the national currency can be changed and exchanged in all the second-tier banks, branches of Kazpost JSC and branches of the National Bank, subject to availability of one or another denomination at a cash desk. Minimum amount and size of fees for transactions of cash change are fixed by banks and branches of Kazpost JSC on their own. In branches of the National Bank they can be changed free of charge.
Information about addresses and contacts of regional branches of the National Bank can be found on NBK website.