Today, The Straits Times Singapore reported that The Monetary Authority of Singapore (MAS) lodged a police report last Thursday after it discovered that people had been making Singapore coins into jewellery and selling them on US-based craft website Etsy.
They have been gold-plated, hammered into lockets and painted with enamel to look like stained glass.
Under the Singapore Currency Act, it is illegal to "mutilate, destroy or deface" Singapore currency, including painting, engraving or cutting into coins. Offenders can be fined up to $2,000, and police are investigating.
The sale of Singapore coin jewellery is not new, with one vendor claiming his Singapore 10-cent earrings, which sell for $125 a pair, have been a "best-selling" item since he began making them 38 years ago.
You can read the rest of the news at The Straits Times Singapore website; 'S'pore coin trinkets sell well online - but are illegal'.
If you search for "Malaysia coin jewellery" on the site, you can also found our Parliament, Bunga Raya and the new 3rd series coins as well selling for over US$100 a piece.
I also have seen Malaysia coin jewellery selling in Malaysia local craft shop in Kuala Lumpur.
The sad thing, I also have seen malaysia coin bracelets sold by a small shop own by Malaysian authority before. I think many collectors noticed this.
Is it illegal to make Malaysia coin as jewellery? Do Malaysia has act that prevent people from mutilate, destroy or deface Malaysia currency?
Who have the answer?
