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Bank Negara Malaysia announces today that effective 7 December 2005, the RM1 coin will cease to be legal tender and will be withdrawn from circulation.
The RM1 banknote will continue to be legal tender and will remain in circulation.
Members of the public will be given a three-month period from 7 September to 6 December 2005 to exchange the RM1 coins at face value without any charges at all branches of commercial banks, the main branches of Bank Simpanan Nasional and Bank Negara Malaysia's branches at Kuala Lumpur, Pulau Pinang, Johor Bahru, Kuala Terengganu, Kuching and Kota Kinabalu.
Further details on the withdrawal of the RM1 coin can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my) or by contacting the Currency Management and Operations Department of Bank Negara Malaysia at 03-2698 8044 ext 7442 / 7417.
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last time i used to keep a lot of RM1 coin
i used to have about 200 of the RM1 coin.
it's just one of the ways for me to save my money.
but since last year or begining of this year,
my bf told me that there are a lot of fake RM1 coin.
so we decided regardless of anything happened,
we just started to spend and spend all the RM1 coin,
since we could not differentiate whether the money is real or fake.
i believe there are a lot of people who are keeping all the RM1 coin.
so now have to return to the bank or used it in the money market before it becomes unacceptable.
The RM1 banknote will continue to be legal tender and will remain in circulation.
Members of the public will be given a three-month period from 7 September to 6 December 2005 to exchange the RM1 coins at face value without any charges at all branches of commercial banks, the main branches of Bank Simpanan Nasional and Bank Negara Malaysia's branches at Kuala Lumpur, Pulau Pinang, Johor Bahru, Kuala Terengganu, Kuching and Kota Kinabalu.
Further details on the withdrawal of the RM1 coin can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my) or by contacting the Currency Management and Operations Department of Bank Negara Malaysia at 03-2698 8044 ext 7442 / 7417.
-------------------------------------------
last time i used to keep a lot of RM1 coin
i used to have about 200 of the RM1 coin.
it's just one of the ways for me to save my money.
but since last year or begining of this year,
my bf told me that there are a lot of fake RM1 coin.
so we decided regardless of anything happened,
we just started to spend and spend all the RM1 coin,
since we could not differentiate whether the money is real or fake.
i believe there are a lot of people who are keeping all the RM1 coin.
so now have to return to the bank or used it in the money market before it becomes unacceptable.
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