RM1 coin withdrawn from circulation


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nyxx88

Senior Member
Nov 17, 2004
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#2
Wah seh... no time to spend all my riggit coins liow :confused:
 

reachme2003

Senior Member
Oct 6, 2003
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#3
what should i do if i have them? are they still legal tender after the date?
 

#4
From Bank Negara's statement, after 7 Dec 05, the coins will be worthless. So you have 2 more days to get to a Malaysian bank to change them. Else they'll just be metal trinkets after that date. ;p
 

#6
Ya. Keep some as souvenirs. Last week when I was in Penang, the supermarket that I was at, was changing their trolley coin slots and re-programming their vending machines not to accept RM1 coins. Looks like a lot of inconveniences to business as well. :(
 

reachme2003

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Oct 6, 2003
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#8
reason for withdrawal: suspected large qty of counterfeits circulating in the public's hands.
 

ricohflex

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Feb 24, 2005
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#9
the theory about fake RM$1 coins does not make sense
any crook will tell you he prefers to counterfeit the $50, $100 and $1000 notes which are in mass circulation.

otherwise "low value added" and "low return on investment" to make fake RM$1 coins.
what a waste of time.
 

reachme2003

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Oct 6, 2003
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#10
your rationale is commonly floated around but, the use of 1 dollar coin at vending machines, etc is widespread and requires no personal verification. it makes 'getting rid of them' almost risk free. 'minting' them in large qty with crude base metal is low cost. counterfeits of large demo notes attract attention, unless well produced. such expertise is not available in public domain.

ricohflex said:
the theory about fake RM$1 coins does not make sense
any crook will tell you he prefers to counterfeit the $50, $100 and $1000 notes which are in mass circulation.

otherwise "low value added" and "low return on investment" to make fake RM$1 coins.
what a waste of time.
 

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