Damn! Selling price of IDR 1,000 palm oil metal reaches this level after being withdrawn by BI

Jakarta –

Bank Indonesia (BI) has officially withdrawn circulation of the 1993 IDR 1,000 coin rupiah coin. The coin has images of an eagle and an oil palm tree.

After being withdrawn from circulation, the Rp. 1,000 coin was widely sold in online stores. The prices offered vary, some even reach IDR 100 million per coin.

According to detikcom monitoring, in one of the online shops, Saturday (9/12/2023), one of the sellers offered Rp. 1,000 coins for Rp. 100 million. “Real pic, stock has traces of use for sure,” he wrote in the product description.

In other shops, the coin is priced at IDR 99,999,999. “Hurry up guys, only 1 pc left. Come first, collector lovers,” wrote another seller located in Medan.

Another shop located in Jakarta also sells it for IDR 70,000,000. In his explanation, the shop owner said he was ready to carry out transactions using the cash on delivery (COD) method specifically for Jabodetabek.

“IDR 1,000 palm oil edition coin. Good condition. Serves COD specifically for Jabodetabek,” he said.

Even so, there are still many sellers who offer IDR 1,000 coins with a price difference that is not too big. For example, one seller from Sleman is offering the coin for IDR 1,600.

Apart from that, there are also those who sell it for IDR 2,500, IDR 2,800, IDR 3,000, IDR 10,000 and others.

Responding to this, Bank Indonesia (BI) said the sale of money that had been withdrawn from circulation was permitted. BI Communications Department Executive Director Erwin Haryono said the money had become a collectible for some people.

“That’s fine. Maybe the money has become collectible items,” said Erwin to detikcom.

Regarding the price offered, it reached IDR 100 million, Erwin said this could happen because there are fewer goods but demand is increasing.

“Prices are formed only because of supply and demand. If many people like it and only a few goods are available, the price will automatically increase,” he explained.

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(ily/hns)