APPLICATION PROCESS
Applications to purchase the coins can be made from Monday until Jun 9 via a dedicated application website.
Only Singapore citizens and permanent residents can apply, and each applicant can apply for up to five coins.
“If demand is high, applicants may not be allocated the quantity of coins requested, but can be assured of being allocated at least one coin,” MAS said.
Each applicant will be required to indicate their identity number, mobile phone number and preferred bank branch for the collection of the coins.
Banks participating in the distribution of the coins include DBS and POSB, OCBC and UOB as well as the Bank of China, HSBC, Maybank and Standard Chartered.
No upfront payment will be requested. Successful applicants will pay for their coins when collecting them at their selected bank branches.
Successful applicants will receive SMS notifications from mid-August, and the coins will be available for collection from September.
Coins that are not exchanged during the collection window will be made available for exchange at banks by the general public, including non-Singaporeans.
The number of coins to be minted will be determined after applications close, MAS said.
The commemorative coin was announced earlier this year as part of a series of initiatives to mark the centenary of Mr Lee’s birth.
The late Mr Lee, who also co-founded the ruling People’s Action Party, was born on Sep 16, 1923. He died on Mar 23, 2015, at the age of 91.