The Central Bank of Kenya (CBK) has opened a tender for companies to purchase and melt 281 tonnes of old and damaged coins that are no longer fit for circulation.
The sale is part of the central bank’s routine currency management and asset disposal efforts.
According to the tender notice, the CBK is primarily targeting metal smelting firms and coin minting companies.
The coins, described as worn or mutilated, must be destroyed by the successful bidder under CBK supervision to ensure they are rendered unusable.
The bulk of the coins, approximately 196 tonnes, is stored at the Mombasa branch.
Nairobi’s head office holds around 76 tonnes, while the Kisumu facility keeps about 9 tonnes.
The total stock amounts to 281,667 kilogrammes.
Bids for the tender are set to close on January 22, 2026, following a recent three-year coin minting tender.
The tender said bidders can view samples at the CBK head office before submitting their proposals.
The winning firm will handle loading, transport, and destruction of the coins and must meet strict eligibility criteria, including prior large-scale smelting experience and ownership of appropriate industrial equipment.
The disposal comes shortly after CBK completed a separate tender for minting new coins, signalling plans to replace the old currency with fresh stock once the process is complete.
The coins contain recoverable metals such as copper, nickel, aluminium, steel, bronze and brass, which can be repurposed for industrial use.
CBK has invited interested firms to inspect samples at its head office before submitting tenders.
The winning bidder will handle the transportation and smelting of the coins from CBK warehouses.
The tender also outlines strict eligibility requirements.
Bidders must demonstrate prior experience, ownership of suitable industrial equipment, and a record of managing large-scale smelting projects.
As of June 2025, CBK held coins valued at Sh11.37 billion, mainly in Sh20, Sh10 and Sh5 denominations.
Of the total, Sh20 coins accounted for Sh4 billion, Sh10 coins for Sh4.02 billion and Sh5 coins for Sh1.95 billion.
The total number of coins on sale has not been disclosed.
Current denominations weigh between 3.75 grammes and nine grammes, while the heaviest coin ever in circulation remains the 1985 Sh5 coin, weighing 13.5 grammes and minted in the UK.
Despite withdrawing old coins, the bank has reaffirmed its commitment to minting new currency to maintain sufficient supply in circulation.
Over the years, the use of coins has declined, particularly for lower denominations, due to inflation and the rise of digital payment systems.
The sale of these coins reflects the central bank’s efforts to manage currency efficiently while supporting industrial recycling of precious metals.
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