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Tuesday, 3 December 2013

Avid collector proud owner of 50 sen first-issue pieces minted between 1967-69

SIBU: The face value is only 50 sen and minting date is 1967 and yet some 46 years later, the rare coin sitting among John Goh’s collection is now worth a whopping S$4,200 (over RM10,700).

The president of Sarawak Philatelic and Numismatic Society told The Star here that during the Collectible Auction Asia in Singapore on Oct 19, the opening price for that very coin was S$1,600 (RM4,100) apiece.

As interest grew stronger, the bidding shot up to S$4,200.

“The Malaysian history is not that long — the country gained independence in 1957. The first set — two millions coins — was the 50 sen, issued only from 1967 to 1969.

High value: Goh showing his set of 50 sen coins including the ones that were minted between 1967 and 1969.
High value: Goh showing his set of 50 sen coins including the ones that were minted between 1967 and 1969.

“There were two types, one with a security edge and the other with milled edge,” he said.

Over the years, however, these coins have became very scarce.

According to Goh, the one with the security edge fetches a higher price than the milled-edged variety.

He revealed that about 10 years ago, several numismatists from Peninsular Malaysia came to Sarawak looking for the coins with security edges.

“They managed to convince a number of local collectors that those with milled edges were more expensive, which the latter believed and sold off their 50 sen coins with security edges for only between RM20 to RM30 apiece,” he said.

Goh said since the recent auction in Singapore, he had received calls from local collectors telling him that they had such coins but were unsure of their types.

“Those in the know, wanted to sell the milled-edged ones at RM5,000 apiece,” he said, adding that he himself owned a set each of the two coins.

“I bought them from a local collector many years ago for a few hundred ringgit.

“I have forgotten about them until the auction in Singapore,” he said with a wide smile.

Altogether there are 17 series of the 50 sen coins issued from 1967 to 1988.

As an avid numismatist, Goh has them all.

Tags / Keywords: Entertainment , Sarawak , coin collection

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