Sunday, 26 May 2024

MAS issues $10 coin to commemorate the 100th birth anniversary of Lee Kuan Yew

5 min read

The Monetary Authority of Singapore (MAS)  today launched the issuance of a $10 coin to commemorate the 100th birth anniversary of Singapore’s founding Prime Minister Lee Kuan Yew (LKY100).

The coin pays tribute to his strategic vision, boldness and indomitable spirit that transformed Singapore from a regional trading port to a global manufacturing, business and financial hub, creating opportunities for all Singaporeans.

The LKY100 coin is gold in colour, and minted in aluminium bronze. With a diameter of 30mm, it is larger than the current Third Series circulation coins. The reverse side of the coin features a portrait of Lee, accompanied in the foreground by the Marina Barrage, representing Lee’s vision to build a freshwater reservoir in the city, strengthening Singapore’s water resilience. The backdrop is the skyline of the Raffles Place financial district and two heritage buildings which have witnessed significant milestones in Singapore’s history – Fullerton Hotel, formerly the Fullerton Building/General Post Office and National Gallery Singapore, formerly the Supreme Court and City Hall.

On the other side of the coin, below the Singapore Coat of Arms, a dual latent image features Lee’s birth year, 1923 viewed from one angle, and his 100th birth anniversary 2023 viewed from another. The LKY100 coin is designed by local artist Weng Ziyan.

Applications can be made online at https://go.gov.sg/lky100coin-order. Details of the application process are as follows:

  • Applications start today and end on 9 June 2023.
  • Applications are open to Singapore Citizens (SCs) and Permanent Residents (PRs) only.
  • Each applicant will be required to indicate his/her identity number, mobile number and preferred bank branch to collect the coins, from the banks listed in Annex A. An SMS notification will be sent shortly after the application to confirm that it has been received.
  • Each applicant can apply for up to five coins. If demand is high, applicants may not be allocated the quantity of coins requested, but can be assured of being allocated at least one coin.
  • No upfront payment will be requested at the point of application. Successful applicants will pay for the coin(s), at its face value of $10 each, when collecting the coin(s) at the banks.

SCs or PRs who require in-person assistance with the online application may approach any Community Club/Centre, or the ServiceSG Centres at Our Tampines Hub and One Punggol.

The LKY100 coins will be available for collection from September 2023. Successful applicants will receive an SMS notification from mid-August 2023, prior to the collection period allocated to each applicant. The SMS notification will include information on the quantity of coins allocated, collection period and bank branch allocated. All SMS notifications from MAS for the LKY100 coin will not contain any clickable link nor ask for any upfront payment.

LKY100 coins that are not exchanged during the collection window will subsequently be made available for exchange at the banks by the general public, including non-Singaporeans.

Re-disseminated by The Asian Banker

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