New five Euro coin? Do you need an update on coin processing machines?
Currently numerous reports are circulating in the press that a new five Euro coin is to be introduced in February 2016. Fokus, for example, writes: “World Sensation: New 5 Euro coin to be an export hit.” In Stern.de you find the message: “Is the five Euro banknote soon to become obsolete?”
Users of coin processing machines and counting devices are concerned as it raises issues such as:
- Is there any preliminary information about the new 5 Euro coin which is to appear in 2016?
- What about the future viability of coin processing machines and coin counters?
– Is an update needed for the new coin?
The German Bundesbank confirms the introduction of the new five Euro coin, however, it defuses fears. The new coin is a pure collector’s coin. It is therefore not to be treated differently to previous collector coins (e.g. 10 Euro coins). The new coin will indeed be a valid means of payment, but is rarely used for payment, since you buy this coin to collect it. They are simply generally rejected by coin processing machines and coin counting devices.
Procoin customers and other users of coin processing machines therefore do not need to worry – retrofitting the device is neither necessary nor useful.