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Coins of the Ukrainian hryvnia were first minted in 1992. Coins were first struck in 1992 for the new currency but were not introduced until September 1996. Initially coins valued between 1 and 50 kopecks were issued. In March 1997, 1 hryvnia coins were added; they are however rarely seen in circulation. The note of the same value is far more commonly used. Since 2004 several commemorative 1 hryvnia coins have been struck. New coins have been produced annually since then and they make up a valuable aspect of the Ukrainian currency system. Today, circulating coins exist in denominations of 1 kopiyka (i.e. or ₴0.01), 2, 5, 10, 25, 50 kopiyok, and ₴1.00. Also minted are bullion (including gold, silver and platinum) and commemorative coins. All of these are produced by the National Bank of Ukraine. In October 2012 the National Bank of Ukraine announced that it is examining the possibility of withdrawing the 1 and 2 kopeck-coins from circulation.[5] The coins had become too expensive to produce compared to their nominal value. Also, on 26 October 2012, the National Bank of Ukraine announced it is considering the introduction of a 2 Hryvnia coin.
Production
Until 2001 most coins were struck by the Luhansk Cartridge Factory. Also, in 1992 coins of 1,5,10 and 25 kopecks were struck by the Italian mint. Since 2001 all Ukrainian coins are struck at the mint of the National Bank of Ukraine.
All circulation coins have been designed by Vasyl Lopata (*1941).