Great Promo? MAS Issuing S$10 Lee Kuan Yew Commemorative Coin
Arguably a great promo, MAS is issuing a S$10 commemorative coin with the late Mr. Lee Kuan Yew’s image on it. The coin is issue this year as it is the 100th birth anniversary of Mr. Lee, and according to MAS, the coin pays tribute to the founding prime minster’s strategic vision, boldness and indomitable spirit that transformed Singapore from a regional trading port to a global manufacturing, business and financial hub.
Details
Those who wish to get the coin can go to this page to apply for it before the end of 9th June 2023. Only Singaporean citizens and permanent residents are eligible, and each person can apply for up to 5 coins. While the total number of coins is not specified, MAS mentions that applicants may not get their desired number of coins if demand is too high. However, each applicant is guaranteed of getting at least one coin.
Collection will be done at a bank and applicants can select their desired regions in Singapore to collect their coins from. They will pay for the coins at face value – S$10 per coin – during collection. Be aware of potential scams that may arise – you will only need to pay for the coins at the bank.
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What is the value of commemorative currency?
Over the years, commemorative notes/coins tend to fetch a price higher than their face value. This depends on things like rarity and significance of the currency, I imagine, and it also depends whether there are buyers when you put them up on sale.
A cursory look on Carousell shows many listings of various special bank notes or coins for sale, but whether there are buyers is another matter. Given the relative abundance of such coins and everyone who wants the coin would at least get one, it might not fetch a very high resale value in future.
Of course, such currency do not collect interest over the years, so the question would be whether or not its increase in value can outpace returns from bank accounts, equities, and other wealth growing instruments.
Conclusion
Buy hey, in a worst case scenario, you could use the currency at their face value, meaning to say there is no loss possible and I look forward to using a S$10 coin to pay for my S$4 haircut.
Also, it’s just S$10 to S$50 worth of coins you can buy at most, so the opportunity cost is pretty negligible in my opinion. Just don’t lose them to your sofa.
Will you be buying these coins? Let us know in the comments or the Telegram group!
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