SANTIAGO (Reuters) - Chile’s mint has sacked its managing director after he sent into circulation thousands of coins bearing an incorrect spelling of the country’s name.
The 50-peso coins, worth around 10 U.S. cents each, were issued in 2008 with Chile spelled “Chiie” -- an error that was only noticed late last year.
“Director Gregorio Iniguez has been fired over a series of issues, including the misspelled coins, which have brought the institution into disrepute,” a mint official told Reuters on Friday, speaking on condition of anonymity.
“Some of the coins are still in circulation. They still carry their value. Some collectors are buying them up because they feel they are rare,” the official said.