The 150th anniversary of the opening of the Suez Canal, an event which had a profound impact on Malta’s economy, is the subject of the Central Bank of Malta’s last coin issue for 2019.

It was feat of human effort and 19th century engineering to complete the building of the Suez Canal, which was formally inaugurated on the 17th of November 1869, after a prolonged period of gestation and many vicissitudes.

It dramatically shortened the trade routes between Europe and Asia, and as a result, Malta became an important waypoint on the new imperial highway linking Britain with her empire in the east.

The Bank explained that the increase in maritime traffic fuelled the demand for coal bunkering and ship-related services and Malta also benefitted from increased spending on naval and military infrastructure.

The reverse of the silver coin shows steamships transiting the Suez Canal, and was designed and engraved by Matyas Houf.

The obverse, which carries the coat-of-arms of the Republic of Malta, was designed by Noel Galea Bason.

There will be a maximum of 2,000 coins minted, each with a face value of €10. The coins have a diameter of 38.61mm and weigh 28.28g, and were struck by Royal Dutch Mint in 0.925 silver.

The coins cost €60 each and are available to purchase direct from the Malta Coin Centre’s online e-shop facility or from the main building of the Central Bank of Malta from 8.30 am till 1.00 pm.

For more information, please contact the Malta Coin Centre on (+356) 2550 6006/7.

Photo: Opening of the Suez Canal on Nov 17 1869 – Illustration

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