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To participate in the forum you must log in or register. | Author |
 Replies: 7 / Views: 5,414 |
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Valued Member
Canada
117 Posts |
Does anybody know why Cook Islands notes have become so cheap lately? On ebay you can get the set of 10, 20, and 50 dollars for $27 total. Since they are equal to New Zealand dollars, that should be equal to $70 Canadian. As far as I know, besides the $3 note, they mostly use NZ notes but you can ask for Cook Islands notes at the bank. Does this price change mean they have been demonetized? Or are people just trying to get rid of them since you can't exchange them at currency exchanges? |
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Pillar of the Community
United States
992 Posts |
The Cook Islands notes are really only the equivalent of a Princess Diana commemorative plate from the Marshall Islands, they are sold to tourists and collectors, and cannot be exchanged for another currency anywhere else. They can be used on the Islands, and to pay exit taxes.
Officially, they are at parity with the New Zealand dollar, but the reality is their value is entirely local.
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Valued Member
 Canada
117 Posts |
Very interesting, thank you. I would like to go there one day. If I ever did, I could essentially get some "free" vacation cash
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New Member
New Zealand
2 Posts |
I am still unclear why Cook Island banknotes have suddenly decreased in value on ebay? I had also noticed this recent decline in the BUY NOW price for these notes. They have been "equivalent of a Princess Diana commemorative plate from the Marshall Islands" for a long time, so this doesn't explain the recent decrease in asking price. I had wondered if a greater number than normal had been recently made available to the market? |
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Valued Member
Canada
117 Posts |
What I'm wondering is how they can afford to sell them for under face value. I may be getting a little ridiculous here but what if I bought a couple thousand Cook Islands Dollars from sellers on ebay for 30% of their face value, flew there, bought a car or something, sold it and asked for NZD when selling. Or even easier, walk into the bank there and swap at a rate of 1:1. This would pay for my trip and then some, making money in the process but it just can't be that simple or else everybody would be doing it. Edited by trikdoutcobalt
05/16/2016 3:35 pm
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Valued Member
Canada
117 Posts |
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New Member
New Zealand
2 Posts |
Interesting link. Explains why they have dropped in price recently.
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Pillar of the Community
United States
819 Posts |
Quote:. I may be getting a little ridiculous here but what if I bought a couple thousand Cook Islands Dollars from sellers on ebay for 30% of their face value, flew there, bought a car or something, sold it and asked for NZD when selling. Or even easier, walk into the bank there and swap at a rate of 1:1. This would pay for my trip and then some, making money in the process but it just can't be that simple or else everybody would be doing it. Not hugely relevant, but apparently if you visit Burma, you can swap clean, crisp US currency for 1.5 or 2 times its face value in worn notes there. A friend who's there for a few days wishes he had thought of that ahead of time... |
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Replies: 7 / Views: 5,414 |
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Posted 05/15/2016 9:08 pm
