The Saudi Arabian Monetary Authority (SAMA) has confirmed that the riyal coin will replace the paper riyal in circulation starting Thursday, 10/9/1439 AH, corresponding to 24/5/2018 AD, while paper riyals from previous issues currently in circulation will continue to be accepted alongside the coin riyal until they are withdrawn from circulation according to a specific, pre-determined timeline.
The Saudi Arabian Monetary Authority (SAMA) explained that it devoted great attention and meticulous care to its sixth issue, which was minted during the reign of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud (may God preserve him), with great attention and meticulous care, drawing on in-depth and extensive studies of the latest advancements in global coin manufacturing technology. It minted the denominations of this series in accordance with the highest technical and artistic standards used in this field, and the best designs to ensure their popularity and acceptance among users. The coins feature small sizes, beautiful shapes, and colors that differ from previous coin designs. The sixth series comprises seven denominations: the riyal coin and its multiples and subdivisions: (one halala, five halalas, ten halalas, twenty-five halalas, fifty halalas, one riyal, and two riyals).
Since announcing the launch of the sixth series of coins, the Saudi Arabian Monetary Authority has been preparing the infrastructure at all its branches throughout the Kingdom, by securing the equipment necessary to ensure the ease and smooth circulation of the coins, as well as their recycling—such as counting and sorting machines, acceptance machines, packaging machines, and other coin-handling equipment. The Authority has also consistently urged all commercial banks to prepare their infrastructure to facilitate the circulation of coins by providing high-speed sorting and counting machines at their branches and cash centers, and by providing coin deposit acceptance machines so that bank customers can deposit coins directly into their accounts, just as they do with paper currency.
