BY JOY OFASIA
THIS year marked a historic moment for the people of Solomon Islands as the Central Bank unveiled a new $1 coin featuring the effigy of His Majesty King Charles III.
At the Thursday, 13 March event at the CBSI Board room, Governor Dr. Luke Forau expressed his excitement, saying, “It gives me great pleasure to welcome you all this morning. Today, we launch a new chapter in our currency history with the King Charles III $1 coin.”
The coin’s design symbolizes more than just currency – it reflects the nation’s cultural heritage and its deep ties to the Commonwealth. The reverse side features the Nguzu Nguzu motif, a traditional symbol of protection and good fortune, while the obverse showcases the new effigy of King Charles III. This marks the first coin in Solomon Islands’ history to honor the King’s reign.
Dr. Forau took a moment to reflect on the journey of Solomon Islands’ currency, noting, “Before we gained independence in 1978, the British Solomon Islands Protectorate used coins featuring the effigy of Her Majesty Queen Elizabeth II. Today, we are making another leap forward, celebrating the new reign with the effigy of King Charles III.”
As the new coin is now in circulation, it serves as a reminder of the close relationship between the Solomon Islands and Great Britain.
“This coin is more than just money; it is a symbol of our history, culture, and the values we share with the Commonwealth,” Dr. Forau said. He also encouraged Solomon Islanders to handle the coin with care and to circulate it widely. “I appeal to all of you to use the new coins in your daily transactions,” he advised, stressing that coins held in piggy banks reduce the availability of currency for business and everyday needs.
The CBSI Governor also took the opportunity to highlight the financial responsibility of minting new coins.
“The cost of producing these coins is significant, and it’s important for everyone to understand that by circulating them, we support the economy,” he explained.
As the coin makes its way into the pockets and wallets of the nation, Dr. Forau’s message was clear: “This is not just about currency. It’s about pride, heritage, and recognizing the significance of this historic change.”
The new $1 coin is now available for circulation through commercial banks, with CBSI continuing to educate the public on the coin’s significance and design.
