Collecting coins is very much like any other type of hobby. It gives you a lot of satisfaction and sense of achievement. In Malaysia, coin collecting is a great hobby because it has been quite a common phenomenon that there are issuing of rare collections every time a significant event comes along.
Denominations and versions
The most common denominations you will find in Malaysian coins is in 10, 20 and 50sen ones. Meanwhile, there are the 1 and 5 sen coins while special editions come in RM1, RM5, RM10, RM25 and many others.
One thing for sure, Malaysia has various versions of obsolete coins. This refers to those that were once used for trading but no longer has value. The 1 sen coins are most common. Made from copper or bronze clad steel, the coins were phased out in 2008, as it is no longer in circulation, depending on the year and condition, rare ones could fetch up to RM2,000 per piece.
The ‘Gold’ coin
The 1 Ringgit Malaysia coin had its glory days. Back in 1971, the 1 Ringgit coins were silver in colour and then it became commemorative items. Later, the ‘gold’ coins were introduced before it was withdrawn in 2005. As compared to the 1 sen coins, 1 Ringgit coins do not fetch as high a price often going only up to RM200 per piece.
the 2 Ringgit Banknote
The reason for introducing the RM2 banknote was to commemorate Vision 2020. It was introduced in 1996 but has stopped production ever since. To date, it is still considered as legal tender although people tend to keep it if they find it. For one with the signature of the then Governor, Tan Sri Dato’ Ahmad Bin Mohd Don, this version can go up to RM5,000.
This are rare coins which were introduced based on a significant event of that year. This includes the launching of the First Malaysian Plan, the Second, the third and so on. In other versions, coins commemorating the King’s birthday and such were issued.
Most expensive Malaysia coin
Recently, headlines were made when some 50 sen coins made in 1968 were auctioned off for S$6,500 each. This however was only referring to that one piece that had a ‘mint error’. It did not have the security edges and was categorized as ‘Graving-65’. This refers to the fact that it was in is not in circulation and not touched by human hands before being still in its original state.