A friend message me in Facebook:-
"Can we use old 1 sen coins in our daily transaction? I have many 1 sen coin at home and I don't know what to do with them. I tried bring it to bank before but they don't accept my 1 sen coin because they said it is not legal tender anymore. I try to find any information regarding 1 sen coin but most of the article is outdated. Can you give me advice about what can I do with my 1 sen coin?"
"Can we use old 1 sen coins in our daily transaction? I have many 1 sen coin at home and I don't know what to do with them. I tried bring it to bank before but they don't accept my 1 sen coin because they said it is not legal tender anymore. I try to find any information regarding 1 sen coin but most of the article is outdated. Can you give me advice about what can I do with my 1 sen coin?"
According to Bank Negara website, 1 sen coin still remains a legal tender and can be used as a means of payment for any transaction as stipulated in Central Bank of Malaysia Act 1958 (Revised in 1994). You can use 1 sen coin as payment not exceeding RM2.00. Bank Negara stop issuing new 1 sen coin since 2008. Yes, 1 sen coin still legal tender but sadly most shops and banks will not accept 1 sen coin. They're either don't know that the coins still legal tender or they (bank) afraid that when they except that coins, they will be having problem to change it at Bank Negara. Bank Negara always said that public can change mutilated banknote (wang kertas rosak) at any commercial bank too but most of the time, they don't accept it. I myself has experience receiving a RM50 banknote with half of it have blue ink stain rejected by a bank, the note itself came from the bank own ATM machine. It will be a waste of time arguing with the commercial bank staff since most of the time "they knew everything about Malaysia currency".
The best solution for anyone with a lot of 1 sen coin is to change it at any Bank Negara branches. Bank Negara don't charge you for that service and you can exchange as many 1 sen coin that you want. You can visit Bank Negara Malaysia's head office in Kuala Lumpur and its branches in Pulau Pinang, Kuala Terengganu, Johor Bahru, Kuching and Kota Kinabalu. You can go to my Malaysiancoin.com post for complete address and phone number of Bank Negara branches; Bank Negara Malaysia. Some states don't have any Bank Negara branches, it maybe will be a bit far for you to visit Bank Negara and this will not be any help to you.
Another way is to sell/exchange your 1 sen coin to collector who want it. You can either try asking any of the Malaysia coin dealer near your place or you can try join Malaysia Numismatic Facebook Community. Normally, collector will buy 1 sen coin at RM5-10 for 1 kilo of 1 sen coin. You can get extra money if your 1 sen coins are Parliament coin series and in Uncirculated condition. The price is around RM2 for a piece of 1 sen parliament series in Uncirculated condition but you need to sell them yourself. You can read my post on How to sell coins as a guide.
They're also Cash Deposit Machine at certain banks and hypermarket but I cannot confirm if the machine accept 1 sen coin will add it later if I had chance to find them.
