The price of a 1 sen coin has astonished many netizens, and we must admit that we are surprised as well. But what’s even more surprising is that some people are still willing to pay the price. Said price is a whopping RM10,000! Since the 1 sen has been out of production for many years, some collectors have naturally adopted it as their favourite and would be willing to pay any price for them.
The 50 sen coin is currently the most expensive coin. However, for those who are unaware, in the good old days, there used to be coins for RM1. It is now basically non-existent, and RM1 is now solely denominated in banknotes. That being said, it’s understandable why someone is selling RM1 coins from 1994 on Lazada for RM 10,000!
For the typical person, ten thousand may sound like a lot, yet there are those who are prepared to spend RM10,000 on only one coin. And in Malaysia, there are quite a few of those individuals. Take the Malaysian Numismatic Club for instance. They are a group dedicated to collecting these old coins. And they had 52,826 members as of only 2013 alone.
You might be asking why and how one tiny coin can be worth THAT much. Well, there are actually several reasons why the value of old money is so expensive, according to this website:
- Low mintage (small amount of production)
- Variety of coins (type of metal)
- History of the money
- Condition of the money
- Large production of the same coin
- Coin error
- Request from old coin collector
Cool, isn’t it? Now just keep that 10 sen coin you have for another 50 years and then you can sell it for a fortune. Or if you already have any old coins lying around, you can also try your luck and sell them on Lazada for RM10,000. You never know!
Source: China Press