The first numismatic annual conference was held at the National Bank of Ukraine on 16-18 September 2024.
The three-day conference was held as part of a series of events dedicated to Hryvnia Day. It was organized by the Money Museum of the National Bank of Ukraine with the support of the USAID Investment for Business Resilience Project.
The conference brought together leading experts in the fields of history, numismatics, banking, art history, linguistics, and archaeology. This event was a platform for them to exchange knowledge and experience, as well as an important step towards the formation of a strong scientific community capable of influencing the development of historical thought and numismatic research.
"The NBU is currently rethinking the importance and role of numismatics in the history of modern Ukraine," said NBU Governor Pyshnyy. "We cherish the numismatic tradition, but at the same time we are looking for a new style and tone that would be in line with the present. The NBU will pay even more attention to numismatics, as it is an effective communications channel and an element of the NBU’s policy that helps to shape true Ukrainian narratives and communicate them to the world.
"It is significant that the conference, which provides an opportunity to see a certain retrospective of the history of money, is taking place right now, when the NBU is seeking to actually complete the monetary reform launched in 1996, to restore historical justice by replacing the Russian-named ‘kopiika’ coin with the Ukrainian ‘shah.’"
Rafael Jabba, Head of USAID Investment for Business Resilience Project, welcomed the participants to the event. "The USAID Investment for Business Resilience Project is proud to support the National Bank of Ukraine during this critical period of economic resilience and recovery," Jabba said. "We are pleased to cooperate with the NBU in organizing this conference and in supporting other financial literacy initiatives aimed at building trust in the financial system and ensuring that finance works for the benefit of all Ukrainians."
The conference included six thematic sections:
1) The rise of the hryvnia as the national currency of Ukraine
2) Ancient, medieval and modern numismatics
3) The history of cash circulation
4) The history of banks, banking, securities and trading
5) Prominent numismatists, collections and schools of thought
6) Design and protection of money.
The first day of the conference also featured a plenary session devoted to all aspects of the use of shahs in the national monetary tradition: from the origin of the term and the peculiarities of its use in calculations to its existence in the underground and even emigration during the Soviet era.
The conference participants approved of the NBU's proposal to change the name of Ukrainian coins from the kopiika to the shah and initiated the signing of an open letter from the scientific community in support of this initiative. So far, 50 conference participants have signed it.
The second day of the conference was opened by Oleh Prokhoda, Director of the NBU’s Cash Circulation Department, who spoke about modernizing and updating the range of banknotes and coins in Ukraine. He noted that banknotes and coins not only ensure the country’s cash circulation, but that their design reflects the country’s history, culture and spirit, and for foreigners it is often the first visual encounter with a new country. Therefore, the NBU always takes a responsible approach to this issue.
An example of this approach is the introduction of new, modified hryvnia banknotes with the patriotic slogan "Glory to Ukraine! Glory to the Heroes!", which the NBU put into circulation on the occasion of the 33rd anniversary of Ukraine's independence.
"The design of banknotes should combine aesthetics with functionality, and the production of banknotes and coins should be reliable and efficient to meet the requirements of monetary cycles," said Prokhoda. "The National Bank of Ukraine is constantly working to improve the design and security features of hryvnia banknotes, through studying relevant international experience."
On the final day of the conference, Volodymyr Bahlai, Director of the NBU’s Banknote Printing and Minting Works, was the first to greet the participants.
In his speech, he focused on the history of the NBU’s Banknote Printing and Minting Works and the specifics of their operation.
"Today, Ukraine has a full cycle of paper money production: from designing and producing security paper to packaging finished banknotes and coins," Bahlai said. "And our company, the NBU’s Banknote Printing and Minting Works, meets 100% of the state’s needs for the production of its own currency: banknotes, small, circulation and commemorative coins."
All this is thanks to the three branches of the Banknote Printing and Minting Works: banknotes are printed at the Banknote Printing Works, coins are minted by the Mint, and security paper is produced by the Banknote Paper Factory.
In total, during the three days of the conference, more than 120 researchers had the opportunity to present their work on the conference topics and discuss them with their colleagues.
In future, this conference will become a permanent platform for scientific discussions on the most pressing issues related to the history of the monetary system and banking in Europe. It will be held annually in September at the National Bank of Ukraine.