Replacing kopecks with steps: The expert committee has released its professional conclusion.

The NBU's initiative to change the name of the coin "kopeck" to the historically justified term "shag" deserves support. This change will aid in the revival of national traditions in currency denomination and help overcome the negative colonial legacy.

This information was reported by RBK-Ukraine, referencing a professional opinion from the Expert Commission of the Ukrainian Institute of National Memory regarding the classification of objects related to the symbolism of Russian imperial policy.

According to the conclusion, "shag" historically referred to a coin that was in circulation in Ukraine during the 17th and 18th centuries. It is mentioned not only in written sources but also in literature and folklore.

Experts point out that the name "shag" is characteristic exclusively of the territory of modern Ukraine and is not linked to the Moscow Kingdom or the Russian Empire.

"During the second half of the 17th and 18th centuries, Muscovy sought to impose its own currency system on the Hetmanate, including the 'kopeck' (Ukr. копійка - borrowed from the Russian language, the name originated from the phrase 'kopeynaya deng' - the kopeck, which featured the Grand Duke (Tsar) on horseback holding a spear) as a retail coin, displacing the traditional Western European coins used in Ukrainian currency circulation. Alongside the destruction of Ukrainian statehood, the Russian Empire managed to implement this plan in the realm of currency circulation," the document states.

The revival of the name "shag" for the coin occurred during the Ukrainian Revolution of 1917-1921 when the Central Rada established the monetary unit hryvnia, which was divided into 100 shags (denominations of 10, 20, 30, 40, and 50 shags were issued for circulation).

After the restoration of the state of Ukraine on August 24, 1991, the idea of reviving "shag" as a currency resurfaced. Between 1991 and 1992, designs and sketches for banknotes and coins were developed (in particular, sketches for coins of 1, 5, 10, and 25 shags were created, and experimental minting of coins took place). However, due to the predominance of deputies with a Soviet worldview in the Ukrainian parliament, the Verkhovna Rada approved the name "kopeck" for the currency in 1992, a term associated with the monetary systems of the Moscow Kingdom, the Russian Empire, the USSR, and the Russian Federation, experts note.

"Thus, the coin 'kopeck,' known in Ukrainian territory since the mid-17th century, supplanted the traditional coin known as 'shag' in the 18th century. This was a consequence of the implementation of Russian imperial policy. Consequently, the name 'kopeck' politically, economically, and semantically relates to symbols tied to the execution of Russian imperial policy in Ukraine and colonial heritage," the conclusion states.

Recall that the National Bank of Ukraine initiated a change in the names of coins from "kopeck" to "shag."

In October 2024, the NBU submitted a package of bills to change the name of the coin from kopeck to shag. The NBU will be able to introduce new coins with a denomination of 50 shags instead of 50 kopecks.

The renaming of coins from kopecks to shags could occur in 2025, pending approval by the Verkhovna Rada. The NBU will ensure a transition that will incur no costs.