Sierra Leone decimalized its currency in 1964, but the leone itself has been repeatedly undermined by commodity price shocks tied to the country's dependence on iron ore and diamond exports. The 2022 redenomination — which lopped three zeros off the old leone — was the direct occasion for this coinage, meaning the entire pre-2022 coin series was rendered obsolete at a stroke.
Sierra Leone decimalized its currency in 1964, but the leone itself has been repeatedly undermined by commodity price shocks tied to the country's dependence on iron ore and diamond exports. The 2022 redenomination — which lopped three zeros off the old leone — was the direct occasion for this coinage, meaning the entire pre-2022 coin series was rendered obsolete at a stroke.