Malaysian RM 1 gold coins for sale?

Question

Does anyone know people who would be interested in buying RM 1 gold coins which was stopped production in Malaysia 2 years ago?

Does the Malaysian -non commerative- RM 1 coins (The type that can be counterfeited) still have a value among coin collectors?

Answer 1

Unless your RM1 coins are uncirculated, I'm afraid not. I find those coins in bargain bins regularly - enough to put together a complete date and variety set (1989 - 1996).
I was saving them in hopes of cashing them in if I ever got back to Kuala Lumpur. That is no longer an option - the RM1 coin was demonetized last year and is no longer legal tender.
It's too bad you don't have any commemorative types - those are all worth several times face value.

This, from the Bank Negara Malaysia web site:

RM 1 Coin Cease to be Legal Tender on 7 December 2005
Bank Negara Malaysia would like to remind members of the public that the RM1 coin will cease to be legal tender effective 7 December 2005 and may no longer be used for any transactions.

As the three-month period for the withdrawal of the RM 1 coin ends on 6 December 2005, all branches of commercial banks and Bank Simpanan Nasional state main branches will no longer accept the exchange of RM 1 coins.

However, members of the public who have yet to exchange their RM 1 coins can still do so at Bank Negara Malaysia Head Office in Kuala Lumpur and its branches in Pulau Pinang, Johor Bahru, Kuala Terengganu, Kuching and Kota Kinabalu until further notice.

Further details on the withdrawal of the RM1 coin can be obtained from the Bank Negara Malaysia's website (http://www.bnm.gov.my) or by contacting the Currency Management and Operations Department of Bank Negara Malaysia at 03-2698 8044 ext. 7417.

Bank Negara Malaysia
5 December 2005

Answer 2

There are 2 types of Malaysian RM1 coins you might be referring to:
1) the RM1 coins for circulation
- this type was withdrawn and replaced with a RM1 banknote.
- made of aluminium-bronze, not gold
- too many counterfeited RM1 coins around; which was the reason why the Malaysian central bank opted to substitute the coins with notes.
- stopped production and the last RM1 coins were dated 1996.

2) the commemorative RM1 coins
- made of nordic-gold, not gold
- comes in blister packs or folders
- commemoratives minted are 1-year issues, not continuous.

Just to clarify. Good luck.