Is it reasonable for palm oil coins to be sold for IDR 50 million, see the collector’s explanation

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Again, palm oil coins went viral because they were valued at up to IDR 50 million.

The palm oil coin is a Rp 1000 denomination issued by Bank Indonesia.

Palm oil coins are being discussed because they are valued up to hundreds of millions of rupiah.

Now the phenomenon is repeating itself.

Pelapak in online stores offer palm oil coins up to tens of millions of rupiah.

It doesn’t make sense. But this phenomenon repeats itself.

In fact, these coins, aka loose change, have begun to be rarely used.

Pelapak display photos of Rp 1,000 palm oil coins in various conditions.

Starting from Rp. 17 million until there is a translucent Rp. 50 million.

Unexpectedly, coins or change as they are called have exorbitant prices.

If it is calculated, the price of the coins is equivalent to 2 new motorbikes.

Currently, the All New Honda Beat Deluxe is sold for IDR 17.465 million OTR Jakarta.

With coins that cost Rp 50 million, you can buy Honda BEAT cash.

There is still change that you can use for other needs.

Collector’s Opinion

Reporting from Kompas TV, there is an opinion that the seller fixes the price of the Rp 1,000 coin at random.

“It’s just people selling inconsequentially. There are still many who sell it at a price of Rp. 3,000 to Rp. 10,000 per piece,” said old money collector Nazym Otie Kusardi on Thursday (6/18/2020).

According to Otie, the Rp1,000 coin is only worth a lot if it has other specialties, such as special printing or proof.

The special minted IDR 1,000 coin can be priced up to IDR 4 million, depending on the conditions.

Bank Indonesia has also been involved in straightening out the issue of the Rp1,000 palm oil coin.

“Regarding the Rp 1000 coin with oil palm images, we would like to inform you that as a legal tender for transactions, the exchange rate for the coin is the same as the nominal value of Rp 1,000,” said Onny Widjanarko, Chief Executive Director of the Communications Department of Bank Indonesia (BI). on Friday (19/6/2020), reported by Kompas.com.

This has also been uploaded to the Bank Indonesia account on its Twitter account on June 15, 2020.

The Rp 1,000 coin in 1993 palm oil can be used for payment.

Specifications of the 1000 palm oil coin:

– Name of Coin: Coins​​ Bank Indonesia

– Currency​: Rupiah​​

​Emissions​: Year 2010

– Denomination: IDR 1,000.00

– Issue Date​: March 8, 1993

– Withdrawal Date

– Material:

Outer ring: Cupro Nickel;

Inner Circumference: Aluminum Bronze​

– Weight: 8.60 gr

– Diameter:

Outer Circumference: 26.00 mm

Inner circumference: 18.00 mm

– Thickness: 2.40 mm​

– Color: White and Yellow

– Main Design​

Front: ​Relief text: BANK INDONESIA; Relief image: Garuda Bird

Sides: Jagged

Back: Relief text: Palm oil; Relief images: Oil Palm Trees; Relief figure: 1000

This article has been published on TribunKaltim.co with the title RAMAI The Price of 1000 Palm Oil Coins Can Reach IDR 50 Million to Buy Two Matic Motors

Outer ring: Cupro Nickel;

Inner Circumference: Aluminum Bronze​

– Weight: 8.60 gr

– Diameter:

Outer Circumference: 26.00 mm

Inner circumference: 18.00 mm

– Thickness: 2.40 mm​

– Color: White and Yellow

– Main Design​

Front: ​Relief text: BANK INDONESIA; Relief image: Garuda Bird

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