Smoeone enlighten me on FAO coins

FC57Coins

I got a new 500 Lira coin today that I had been searching for - it's the FAO issue of 1968. I tried to see if I could find anything going on, and I did find that right around that time, several countries issued coins with an FAO theme - I would imagine to raise funds - can anyone give me any more information on this? Thanks!

Frank

lordmarcovan

I can tell you that FAO is the United Nations' Food and Agriculture Organization.

But you probably already knew that. Beyond that, I'm not really sure what the FAO coinage issues are about- though your fundraising theory sounds plausible.

I'll bet Brad or some of the others know.

FC57Coins

Thanks Lord Minivan - maybe the night crew might have some light to shed on this matter

farthing

One of the occasional posters here goes by the name of Angielczyk. He works for the FAO and is responsible for the Money and Medal program for the organization. He gave his info here. Drop him a PM

FC57Coins

Thanks! I appreciate the info

Angielczyk

Hello I note your interest in FAO coins and I thought that this might give you an historical background to these coins.

In addition to the coins FAO has issued a number of medals over the years both to commemorate special events such as World Food Day and to honour various men and women who have been outstanding in the fight against hunger and poverty.


FAO COINS


In 2,500 years of numismatic, or monetary, history, FAO Coins constituted the first international issuance with a common theme: Food for All. Since the times of ancient Greece, countries have placed agricultural symbols on their coinage. But in our time the need to grow more food for an accelerating world population has assumed a new importance. In 1968, in response to this challenge, approved by the FAO Council, the FAO Money Programme was launched, using national coinage in a unique educational way to stress explicitly the need for increased food production. Its main purpose is to reach as many people as possible with FAO's message of the urgent need to increase food and agricultural production and to encourage governments to use their coinage for educating citizens about their priorities and programmes for agriculture and rural development.

Since then, some 115 countries have issued coins within the framework of the FAO Money and Medal Programme. The cash value of the 7 billion coins in circulation at the end of 1996 stood at approximately US$203 million more than one coin for every person in the world, or about one percent of all coins now in circulation. This makes the FAO Money and Medal Programme responsible for the largest co ordinated issuance of coins in the history of the world.

The London Financial Times wrote an article on the Programme in November 1977:

"Unlike stamps, coins enjoy a lengthy period of circulation over many years and the propaganda or didactic element in their design gets across to a very much larger section of the population. In the Third World there will be millions of people who never see a postage stamp, but low denomination coins are an indispensable part of daily life in even the most backward community nowadays. This means that every single day millions of people precisely in those areas where sufficient food for all is still a target to be reached, are reminded that freedom from hunger and want for all is a daily concern for the whole world, and that the message of these same coins is being read in the developed countries by numismatists and others".

To its basically educational aims, the Money and Medals Programme adds that of finding funds for agricultural development. In the first place, through buying coins on issue from the country in foreign exchange, the FAO makes a direct profit for that country in seniorage. The FAO also works with countries to issue commemorative coins in precious metals with agricultural themes, which often produces very substantial royalty profits.

Since 1968, an estimated US$18 million worth of seniorage profits have accrued to participating countries. A number of countries have used these profits directly to encourage and develop their agriculture.

The circulation of these coins provides an ideal opportunity to stimulate interest in and an understanding of the problems and potential of agricultural development in a world, that by 2030 will have a population of some 9 billion people. Great strides have, of course, been made in increasing the production and availability of food throughout the world, but many countries are still struggling to eradicate hunger and malnutrition, and among some communities and population groups the crisis has even deepened.

Our hope is that through these coins, FAO and its mission to eradicate hunger and poverty will be brought to the attention of the widest possible public.

Not only were the coins issued for general circulation but special collector boards and albums were also produced containing the circulation coins and special commemorative FAO coins.

In 1995 a special collection was produced celebrating the 50th anniversary of FAO. A further set was produced in 1996 to commemorate the World Food Summit.

Since then additional FAO coins have been produced by a number of countries.

FC57Coins

Great information! Thanks!