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 Replies: 21 / Views: 3,858 |
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Pillar of the Community
United States
6130 Posts |
One of the cool things about our hobby is that money is inherently valuable--there is not a coin in existence that I can acquire at a fair market value of $0.0000000000. Ignoring the more complex economics (opportunity costs, inflation, shipping etc) any given coin can said to be worth the highest of three separate factors:
1. Face value at world exchange rate (if coin is still legal tender)
2. Numismatic value
3. Melt value
I know for a fact that 1) can fall quite low--if articles from 2013 are still valid, the Uzbekistan Tiyin has an exchange rate of 1/2000th of a US cent. Numismatic interest may be zero for these coins, so I assume that melt value would take the lead here--I cannot imagine that there is a single coin out there that has less than 0.1-0.5 cents' worth of metal in it.
I am curious to see what the hive mind can cough up!
I know that I have better examples, but the best example I can think of offhand is the Japanese 1 yen coin, worth about 0.8 cents and pretty difficult to sell for much more than that.
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Pillar of the Community
Canada
2519 Posts |
The Indonesian Rp 1 coin was never demonetised (even thugh the rest of its series were - and they were of a larger denomination). At the time of this writing, its face value is equivalent to 0.000071 US$. The material is aluminium. It has more value as a numismatic item, but I don't know its current value. There's also a banknote worth 1 sen (Rp 1/100), never demonetised even the rest of its larger denomination series were. Strange way of demonetising  Edited by Altaira
10/06/2015 4:12 pm
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Pillar of the Community
United States
1316 Posts |
When I lived in China from 2009-2011, the jiaos effectively had a negative value, especially the coins. Literally, the local vendors wanted nothing to do with them because they had so little value it wasn't even worth their time. The only businesses that dealt in them were larger grocery stores that would price stuff in decimals (to them small % meant something great because of their volume) and would, as a result, give them out as change. However, it was nearly impossible to ever spend them again. I knew several people who had drawerfuls at home because it was so hard to otherwise spend.
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Valued Member
United States
123 Posts |
In Paraguay I was scared for a moment when the rental car company handed me a bill for 1,977,536.00 guarani. It worked out to about $352!
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Pillar of the Community
 United States
6130 Posts |
There was a member on another forum who lived for some years in some eastern European country. He recalled that the lowest value coin over there was worth so little that people would literally drop them on the floor or in the trash can on their way out of the store, just to not have to deal with them.
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Valued Member
Slovenia
459 Posts |
I dont' know much about actual melt values of common materials but I think that all the millions and billions it took to buy something common in '80 Yugoslavia somehow falls into this thread. I'm too young to felt the impact of this but I remember my grandmother doing some loooong calculations about everyday items she bought at the store. (A banknote example I just love http://banknoteindex.com/browse.mht...rowse=55109)Edited by Dagaz
10/07/2015 11:54 am
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Bedrock of the Community
United States
17884 Posts |
Quote:
I cannot imagine that there is a single coin out there that has less than 0.1-0.5 cents' worth of metal in it. India 1 ruppee, steel 4.93 grams has .08 cents worth of steel in it exchange rate is 1.5 cents Indonesia 50 Rupiah, aluminum 1.36 grams has .20 cents worth of aluminum in it. Exchange rate is .36 cents I'm sure there are other steel and aluminum coins that would come close as well. |
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Previously Banned Member
110 Posts |
Quote:
The Indonesian Rp 1 coin was never demonetised (even thugh the rest of its series were - and they were of a larger denomination). At the time of this writing, its face value is equivalent to 0.000071 US$. The material is aluminium. It has more value as a numismatic item, but I don't know its current value.
I have one!
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Previously Banned Member
110 Posts |
I was in Indonesia less than a year ago. The 50rp coin is hard to find and not really used. 6 yrs ago it still was being used. Also, I came back with many banknotes (old ones) and a box of coins from indonesia
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Pillar of the Community
Canada
2519 Posts |
Rp 50 aluminium coin, while not demonetized yet, has so little value that it doesn't circulate at all (the brass ones were demonetized in 2006). Not six years ago, I've never even seen one circulating over ten years ago. I'll assume that people stopped bothering with them after 1998.
Basically anything under Rp 1000 is very small, they're just used to make change. They're like pennies - people don't bother carrying them around to spend. Except, they don't have coin rollers back there. My parents sellotaped four or five of them to spend them more conveniently.
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Pillar of the Community
United States
819 Posts |
i was in mexico years ago and got the bill for dinner and drinks and it was 74,950.00 it turned out to be 25.00 and I was thinking oh crap how am I going to pay this lol.
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Previously Banned Member
110 Posts |
Very funny chip jones. Anyway, in Indonesia, literally everyone is a millionaire!
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Pillar of the Community
Canada
2519 Posts |
"Million, billion, trillion" notations in Indonesia are actually a bit different. I don't know why they don't just standardise this (or where they got those massive values from), since there are a lot of zeroes in between if someone gets a translation wrong  "Million" (1.000.000) is translated to " juta". "Billion" (1.000.000.000) is translated to " milyar". "Trillion" (1.000.000.000.000) is translated to " bilyun" " Trilyun" (1 milyar milyar, or one billion billions) is 1.000.000.000.000.000.000 (You might notice I used a dot for every thousand. Decimals there use commas, so it's reversed.) At the time of this writing, 1 million Rupiah is equal to US$ 72.12. Meanwhile, 1 milyar Rupiah that is equal to US$ 72,124.20. Big difference! |
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New Member
Indonesia
2 Posts |
I got lots of aluminium Rp 50 in my stock. I got a full box from the central bank, planning to use it as a part of ornamental wall decoration. Its practically useless except for bank account and tax, since almost every store and product use 100 as their lowest price nominal. Even a candy worth Rp 125 nowadays.
Recently, I got surprised when one of the small localstore even refused to accept Rp 100 and Rp 200 as a payment. I think I should use them as an exchange ASAP, as there are lots of them in the saving box.
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Pillar of the Community
Sweden
1078 Posts |
Some worthless coins I can think of (exchange rates) Russia 1 Kopeyka - 0,01 RUB = $0,00016   Iceland 5 Aurar - 0,05 ISK = $0,0003967   Philippines 1 Sentimo - 0,01 PHP = $0,000216788   The Icelandic 5 Aurar is completely out of circulation, but the Russian and Philippean ones could still appear? I know they aren't actively used. |
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Valued Member
Belgium
464 Posts |
 could not help myself cost= the labour you put init  Edited by dohcollector
10/08/2015 08:46 am
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Replies: 21 / Views: 3,858 |
Posted 10/07/2015 06:49 am
