State to coin it with special edition money
Published 29/04/2010 | 05:00
INFLATION went through the roof yesterday when the Central Bank launched a limited edition set of coins.
The coins -- which are legal tender -- are to commemorate the 25th anniversary of Gaisce -- the President's Award.
However, to buy one of the special sterling silver €10 coins, you'll need to shell out €36, while a €20 gold coin will cost €56.
And the Central Bank is also putting a double box set on sale for €95.
While the coins are being issued to celebrate Gaisce, profits from the special edition will not be going to the President's Award scheme.
After the cost of production is extracted, the proceeds will instead go to the exchequer. And with 12,000 silver €10 coins and 10,000 gold €20 coins on issue, the State coffers are set for a windfall of almost €1m.
The coins, unveiled at a ceremony at Farmleigh House in Dublin's Phoenix Park yesterday, can be purchased through the Central Bank from today.
The President's Award is given to young people from ages 15 to 25 for achieving "personal challenges". The coins depict Aras an Uachtarain, and feature young people pursuing a range of challenges.
Designed by Michael Guilfoyle following an open competition, the coins carry the inscription 'Gaisce 25 Years' and feature the Irish harp surrounded by a laurel wreath.
The coin launch follows a special commemorative stamp issued by An Post.