The paper money banknote that circulates the most in Costa Rica is the “rojo”, the red 1,000c note worth almost $2.00. Two years ago Costa Rica began making the rojo out of plastic substrate, in order to prolong its life and make it recyclable. In 2021, all Tico folding money will be made out of plastic, except the 50,000c note, which is being phased out of circulation. The rojo has won international awards for its beauty of design and artwork, featuring a Guanacaste tree, white-tailed deer, beautiful foliage and — guess how many scorpions.

As most know, the Costa Rican colon (CRC) was named after Spanish explorer Christopher Columbus, (Cristobal Colon in Spanish), who visited Costa Rica in 1502. The colon was introduced in 1896, and is issued exclusively by the Central Bank of Costa Rica. The new rojo began circulating on November 26 of last year, and is waterproof and more durable than the paper bill it replaced. All denominations of Costa Rican bills are different lengths so that the visually impaired can differentiate them. Unlike United States money, the bills are also different colors, making it easier to distinguish one from the other.

A new 2,000c and 5,000c note will begin to circulate next week, and soon all Costa Rican currency will be made of plastic substrate, which is waterproof, harder to counterfeit, and has a longer life in circulation. Pablo Villalobos, Director at BCCR, explained, “In 2017, the Banco Central began a process of revision of the family of folding bills, endeavoring to improve their durability and minimize their damage to the environment.” This revision is anticipated to save the bank about 74% by lasting longer. The life of a folding bill will go from 12 months, to 64 months. Plastic money is also harder to counterfeit.

“Although the new banknotes have adjustments in their design and in their structure of security measures to verify their authenticity and combat counterfeiting, they maintain the same characters, motifs, shades and sizes of those currently in circulation”, explained a spokesman for the Central Bank. The new bills include holograms and transparent windows to avoid counterfeit.

The plastic substrate bills will live on, recycled into benches, national park railings, trash cans and even playgrounds. The rollout of the new rojo has gone very smoothly, and concern over a possible run on money in the banks due to COVID-19, has subsided. The 50,000c will be a collector’s item, for those wishing memorabilia from Costa Rica’s folding paper bill past

About the Author :