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MNB begins minting of new coins

The National Bank of Hungary's Logistic Center has started minting of the new coins bearing the inscription "Magyarország" (Hungary) with the new HUF 5, HUF 10 and HUF 20 coins.

The old coins bearing the inscription "Magyar Köztársaság" (Republic of Hungary) will continue to function as legal tender and will only be withdrawn from circulation as they wear out, MNB communications chief András Simon told journalists.

MNB will have 10 million pieces made of each type of the coins, which will be issued on a continuous basis, he added. 

The cost of producing the new line of coins will be just over HUF 5 million, an insignificant amount compared to the annual costs of coin production, amounting to around HUF 1 billion, Simon said, answering a question from MTI.