Bank Negara to sell special coins via public balloting

(L-R)YBhg Datuk Muhammad Ibrahim, Governor of Bank Negara Malaysia, YB Datuk Seri Mah Siew Keong, Minister of Plantation Industries Commodities and YBhg Dato' Lee Yeow Chor, Chairman, Malaysian Palm Oil Council at the launch of the commemorative coins

KUALA LUMPUR: Bank Negara Malaysia (BNM), which will issue commemorative coins to celebrate the 100th anniversary of the Malaysian palm oil industry, is selling the coins through public balloting to ensure fairness in distribution to intended buyers.

In a statement,  the central bank said the coins would be available for sale on Wednesday, Aug 9, at its Museum and Art Gallery (MAG) and offices located in Penang, Johor Baru, Kota Kinabalu, Kuching and Kuala Terengganu.

 Orders will be accepted from 7.00am to 11.00am, and public balloting is expected to begin at 11.30am.

“As the sale is not on a first-come-first-served basis, members of the public are advised not to queue earlier than 7.00am,” BNM said.

There will be a coloured silver commemorative coin (proof) made of fine silver with 99.9 purity and weighing 31.10 grammes, with a face value of RM10 (700 pieces) and a Nordic Gold Brilliant Uncirculated coin with a face value of RM1 (13,000 pieces)..

The coloured silver coin will be sold at RM230 each while the other coin has a RM10 price tag each.

The coins are also available in sets of two, comprising the coloured silver and nordic gold proof coins. These sets will be sold at RM280 per set (price is subject to goods and services tax of 6%) with 1,300 sets available.

The maximum purchase limit is one unit of set of two, one unit of coloured silver (proof) and three units of Nordic Gold Brilliant Uncirculated.