Bulgarian National Bank Seeks Buyer for Coins to Be Melted Post-Euro Transition

The Bulgarian National Bank (BNB) has launched an auction to sell scrap Bulgarian coins after the country adopts the euro. The central bank expects to gather a total of about 7,744,450 kg of coins, with 52,143 kg currently in its possession, while the remaining 7,692,307 kg will be made available once withdrawn from circulation.

Under the terms of the five-year contract, the scrap coins will be sold in separate batches, with the minimum weight for each batch set at ten tons. Interested buyers can find the relevant documentation and further details for participation on the BNB's official website.

The Bulgarian National Bank's initiative to sell the scrap coins follows the country's preparation for the transition to the euro. The process will help streamline the replacement of the old currency with the new one while managing the disposal of obsolete coinage. The sale of the scrap metal from the coins is expected to reduce the logistical and environmental impact of keeping large quantities of currency no longer in circulation. As the euro becomes the official currency, this move is part of Bulgaria's broader effort to integrate more closely with the Eurozone.