Currency of the Republic of Kazakhstan 44 questions
I have got worn and torn foreign currency notes. Where and how can I exchange such banknotes?
If a foreign currency banknote is damaged (scuffs or tears), first it is necessary to determine signs of its suitability or unfitness for circulation.
To replace a banknote that is unfit for circulation, including invalidity (that is, withdrawn from circulation by an issuing bank), you need to contact second-tier banks that have correspondent relations and/or contractual relations with foreign banks to carry out collection operations with relevant foreign currencies.
Cost of weighted bullion bars of refined gold?
Selling price of weighted bullion bars of refined gold is independently fixed by second-tier banks and authorized organizations (non-bank exchange offices). Cost of weighted bullion bars can be found on websites of these banks (Halyk Bank of Kazakhstan JSC, Eurasian Bank JSC, First Heartland Jysan Bank JSC, CenterCredit Bank JSC and in non-bank exchange offices).
Where can one buy bars of refined gold?
Weighted bullion bars of refined gold can be purchased at second-tier banks (Halyk Bank of Kazakhstan JSC, Eurasian Bank JSC, First Heartland Jysan Bank JSC, CenterCredit Bank JSC) and at certain non-bank exchange offices. List of organizations can be found in branches of the National Bank.
All the addresses and contacts of branches of the National Bank are available on our website.
What does ‘proof’ quality mean in minting?
‘Proof’ workmanship is a special technology of minting coins of improved quality with a mirror surface. The National Bank of the Republic of Kazakhstan has been issuing collectors’ coins made of precious metals with ‘proof’ quality since 1999.
Is it possible to return previously purchased collectors’ coins to the National Bank of Kazakhstan, and if yes, how?
Collectors’ coins are issued in a limited edition from precious metals (gold and silver) and base metals (cupronickel and nickel silver). They are intended for collection and development of the numismatic (secondary) market, where demand for them depends on a circulation, subject matter, design, workmanship and novelty of the technologies used.
The National Bank buys from individuals and legal entities only those collectors’ coins which were previously issued by the National Bank. Collectors’ coins of other countries are not accepted.
When buying back collectors’ coins made of base metals, a client is paid their face value. When buying back collectors’ coins from precious metals, an examination is carried out to determine content of pure precious metal, fineness and weight in grams.
When calculating a cost of bought back collection coins made of precious metals, morning fixing (price of corresponding precious metals in USD) and a KZT/USD weighted average exchange rate are taken into account. USD fixing of precious metals can be found at www.lbma.org.uk.
If an amount of buying back of collectors’ coins made of precious metals, determined by value of content of pure metal (with specified fineness and weight) in a coin, exceeds an approved selling price fixed by a resolution of the Board of Directors of the National Bank, a client is paid an amount of the initial selling price of the coin.
How one can buy coins in an online shop?
1. GET REGISTRATION AT KAZCOINS.NATIONALBANK.KZ
- For registration it is necessary to specify a full name, IIN, phone number, delivery address.
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ATTENTION! Password must comply with a security policy: at least 8 characters (one capital letter, digits, special symbols in Latin characters).
- Undergo an authorization procedure.
2. CHOOSE A COIN OF INTEREST AND MAKE A PAYMENT
- ATTENTION! Number of coins available for purchase is limited.
- Before payment it is necessary to make sure that the card has no limitations for Internet transactions (has an amount sufficient to cover the payment).
- Make a payment for goods after you check a delivery address (at this stage, you can change the delivery address).
- Please make sure that an administrator confirmed your order in My Orders section (confirmation is made within 2 business days).
3. RECEIPT OF ORDER
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ATTENTION! Tariff depends on a region (delivery address).
Where can one buy collectors’ coins?
In connection with the coronavirus pandemic, since April 19, 2021, collectors’ coins have been sold in a pilot mode through an online shop of the National Bank.
Currently, we are working to improve the online shop, and we are also working on alternative options for selling coins.
What banknotes are considered invalid?
Banknotes that have lost 50% (fifty) or more percent of their size, bearing the inscription ‘ҮЛГІ’, ‘ОБРАЗЕЦ', ‘SPECIMEN’, ‘МУЛЯЖ’ as well as banknotes that have fragments of genuine banknotes and cuts with traces of glue and/or adhesive tapes are invalid.
Where and how can one exchange banknotes of the Republic of Kazakhstan withdrawn from circulation?
An unlimited period for exchange of banknotes of the 2006 standard and subsequent years of issue in branches of the National Bank starting is effective from June 12, 2021. Outdated banknotes with 500, 1,000, 2,000, 5,000 and 10,000 KZT denominations of the 2006 standard can be exchanged in all the branches of the National Bank without time limits. All the addresses and contacts of the branches of the National Bank are available on our website.
Please note that when a new banknote is issued, a concurrent circulation period will be effective for 12 months. Both old and new banknotes will be legal money and they must be accepted for all the types of payments during a year.
After a banknote is out of circulation, it can be exchanged both in branches of the National Bank and in branches of second-tier banks (STB) and offices of Kazpost JSC during 3 years.
Where and how can one exchange damaged, worn out doubtful banknotes of the Republic of Kazakhstan?
Banknotes with minor damages (unless they obstruct identification of authenticity of a banknote), which have at least 70% (seventy percent) of their size, (written or digital) signs indicating their denomination, including old ones, must be exchanged in branches of the National Bank. They can also be exchanged at any second-tier bank and branches of Kazpost JSC.
Doubtful banknotes that have more than 50% (fifty percent) of their size with damages that make it difficult to authenticate banknotes, are accepted in all second-tier banks and branches of Kazpost JSC. Such banknotes are sent for examination to branches of the National Bank to determine authenticity and possibility of exchange.
Also, doubtful banknotes can be exchanged in all the branches of the National Bank. Banknotes recognized following an examination as authentic must be exchanged and at no extra fee charged. All addresses and contacts of branches of the National Bank are available on our website.
