Will you sell a coin if.............?
By Jacruz25
@Jacruz25 (1124)
Philippines
October 29, 2011 8:37am CST
Will you sell your coin if it costs twice or even more? A few years ago in our country The Philippines there was a group of people who sells philippine 1 peso coin to some japanese buyers because they use the peso coin as a train token. In exchange for the 1 peso they pay more than twice the actual value of the 1 peso. This is surely against the law. So will you sell your own country's coin for higher value?
2 people like this
3 responses
@kareemadivina (1230)
• Philippines
29 Oct 11
Thanks for the info.Since when it has started,and why the Japanese had choose the 1 peso coin with Carabao on it?It just makes me curious because they are fun of hiding treasure.Maybe they are hiding something on that specific coin.I'll try to look some in my old piggy bank. I think it's fine to sell it because it's not use in the market anymore or better to save it .It may have a better price in the future.
@mantis36 (4219)
• Philippines
29 Oct 11
wow,
the current Philippine Peso that the Filipino use today i think foreign people will not buy because it has no value and they prefer to buy the old peso coin particularly those money during Japanese World War 2 and Peso during Marcos Time.....
now i know that even today they buy current Peso for token purposes?
hahahaha,
now i know that even Japanese like to follow what Filipino's did it before that Filipino's on Japan
(as what the Filipino Seaman said before that the issues regarding Filipino's on Japan using our coins to insert in Japanese Train Tokens too)
then, it is not only us Filipinos who did that but even Japanese too.....
i think it's fair....
that is the power of the internet communications, we can learn what the current events and issues on all over the world and cyberspaces, coming from the freedom of speech voluntarily....
@jaiho2009 (39140)
• Philippines
29 Oct 11
That depends on the purpose and the price.
I collect coins from different country and of course I collect coins from our country.
We cannot blame our countrymen for selling those coins for higher/double price.
have a good day 
@Jacruz25 (1124)
• Philippines
29 Oct 11
What I mean is the current coin that we use. It is against the law if you sell the current coins used but if the coin/money is demonetized then you can freely sell it and it's not against the law. As a matter of fact the central bank of the philippines spends more in making those 1 peso coin than it's original value.
@topffer (42155)
• France
29 Oct 11
It is an interesting question. In several countries small coins were often made in copper until 10/15 years ago, and with the increasing value of copper, these coins have more metal value today than their official value. Actually Euro cents and Canadian cents are made with iron covered with only a little copper to reduce the cost. At the end of the Roman Empire, silver coins also had often only a little coat of silver
. It is indeed forbidden to sell a coin which is still used officially, but not when it is demonetized. When Francs have been demonetized and replaced by Euros in my country, these little coins with more value have been sold by the state with profit and have been smelt. Indeed everybody who did not brought them to the banks is authorized to sell them at their metal value -- they have no value for a collection -- today. To give you a response, if the coin is demonetized and I can do it legally, why not ? Maybe I should start to collect tons of little coins for the future
.
. It is indeed forbidden to sell a coin which is still used officially, but not when it is demonetized. When Francs have been demonetized and replaced by Euros in my country, these little coins with more value have been sold by the state with profit and have been smelt. Indeed everybody who did not brought them to the banks is authorized to sell them at their metal value -- they have no value for a collection -- today. To give you a response, if the coin is demonetized and I can do it legally, why not ? Maybe I should start to collect tons of little coins for the future.