In 1976, a staff of Bank Negara Malaysia found some 1976 one cent coins stuck in the coin counting machine.The coin counting machine was adjusted to detect only one cent coin in copper-clad steel planchet produced since 1973. Apparently, one cent coin in copper-clad steel blank is lighter (1.74 gm) than copper blank (1.94 gm) and attracted to magnet.The staff took out those stuck coins and reported to his superior.They found out this coins were minted on copper planchets instead of copper-clad steel planchets.
A post-mortem was conducted by Bank Negara Malaysia internally.They traced it to the mint factory. Here are what they found :
When they cleared and cleaned the floor of the minting area which is full of all sizes of planchets which dropped out during the minting process, they collected and separated those planchets for future coin minting because each planchet was already accounted for. However, they missed to separate the copper planchets form the copper-clad steel planchets for one cent coins. So when they minted the 1976 one cent coins, this mixed planchets was used. And these planchets included the copper planchets.
We called this
rare coin, the
Transitional Errors.It occurs when a coin is struck on a planchet from a previous year with different metal composition.It is extremely rare.
Mr Steven Tan, the editor of STANDARD CATALOGUE OF MALAYSIA-SINGAPORE-BRUNEI COIN & PAPER MONEY,stated in his book that less than 100 pieces of this
rare coins are known to exist. Another well known numismatist Mr Saran Sign,the author of world famous THE ENCYCLOPEDIA OF THE COINS OF MALAYSIA, SINGAPORE AND BRUNEI 1400-1967,also did his own research to this
rare coin,he double confirmed that to date,known to him are about seventy odds pieces existed both in used and
uncirculated condition.(UNC).
Malaysia Numismatic Society traced the owners of this rare coins. So far only about 25pieces, mostly in UNC condition are known.
A piece of 1976 one cent copper coin in UNC condition was put on auction in MALAYSIA NUMISMATIC SOCIETY. MNS AUCTION NO.146 .Date-19.DECEMBER 2010. (LOT 128).with realised price of RM1200.00.
Numismatist Mr Saran Sign commented that the realised price of RM1200.00 for this 1976 one cent copper Transitional error coin in this auction is still consider reasonable cheap if compared to the one ringgit with prefix CR signatured by Bank Negara Governor Tan Sri Dato' Seri Ali Abul Hassan Bin Sulaiman.1999. A few hundred pieces of this bank note had existed and with realised price of RM1600.00 at previous auction held by MNS.
In September 2010,the world's most expensive penny,a Lincoln cent struck in the wrong metal at the US Denver Mint in 1943,has been sold for a world's record price of USD1,700,000.00 by Legend Numismatics of Lincroft,New Jersey.This is another world famous rare Transitional Errors.This rare coin are suppose to be struck in Zinc-Coated Steel but was mistakenly struck on a bronze coin disc left over in tote bin that transported new planchets to the coining press.A total of 20 pieces of this rare coins are known to exist in US from three United State Mints.
Latest updates:
(1).On 16-07-2011,Mavin’s Auction in Singapore, the Malaysian Parliament series 1976 Copper 1Cent Transitional Errors was sold for about
MYR 3,430.00 excluding commission
.
(Reserved Price SGD:250.00)
A Buyer's Premium of 15% plus GST 1.5% will be added to the Hammer Price.
(2) On 26-09-2011,MNS Auction No.149. Another piece of UNC Malaysian Parliament series 1976 Copper 1 Cent Transitional Errors was auctioned for
RM3,600.00.
(Reserved Price:RM1,000.00)
(3) On 28th July 2012,Singapore Collectors Auction House, Lot:588 Malaysia ,1976 1 Cent Copper coin. NGC MS63RB. KM#1 with an estimated price of SD1400.00 (RM3542.00) was realized at SD1500.00(RM3795),plus buyer commission 15%,total :RM4364.25.
Link:
http://dniewcollectors.blogspot.com/2011/07/malaysia-rare-coin1976-one-cent-copper.html
http://dniewcollectors.blogspot.com/2011/09/malaysia-numismatic-society-auction_26.html
Phew, if only we could lay our hands on one of these.
ReplyDeleteThanks alot for sharing, Dickson :)
Thanks for this info...informative...
ReplyDeleteThe story is much better if you write it yourself then I telling them in my blog. You got a good stories in here but need to learn how to blog better to get an audience.
ReplyDeletegreat info... thanks taiko..
ReplyDeleteDear gskcoinotes,
ReplyDeleteWelcome to Niewmismatic News and most welcome to visit my Blog.You may like to be a follower of my Blog,so that you will receive my latest post always.Please email me your Blog/URL if any.
hi, i am new in this coin collection hobby.I realized i have the 1976 1 cent coins. How do i sell it? any takers?
ReplyDeletePlease contact me at 012-2313887
Hi Anonymous,
ReplyDeleteYou said you have the 1976 1 cent coins.Please check with magnet,only those CANNOT be attracted to magnet is the right cent!
Hi , i have two 1979 one cent malaysian coin. Is it worth anything? I have check it with a magnet and both can be magnatized to the magnet. And i checked my other 1967, 1971, 1973 one cent coins and they cannot be magnatized at all to the magnet. Thanks. From penang.
ReplyDelete1979 1 cent was minted on a copper clad steel planchet, so sure it will attracted to magnets. from 1967 to 1973 they were minted on a copper planchet.
ReplyDeleteHi Dickson, I got 1 pc 1976 circulated condition copper planchet that did not attract magnet but whats the value for circulated pc or no value at all.
ReplyDeleteThanks
Hi Anonymous,
ReplyDeleteA 1976 One Cent copper planchet in circulated condition that did not attract magnet still can fetch good price,how much depend very much on the grade! You may show me to certain the grade then only can price accordingly! Send to my email:dniew33@streamyx.com or MMS me 0179796337.
what if one cent that can be attracted by magnet? is it worth for anything?
ReplyDeleteHi Anonymous,
ReplyDeleteOne cent 1976 that can be attracted by magnet are the normal minted material, worth RM5/BU.
Hi Dickson,
ReplyDeleteOnly recently I have time to go through my collection since my school days. Finally i manage to get 4 pcs of copper planchet circulated 1976 1 cent. Do you mind to evaluate the grade of the coins?
Hi EarthDaddy,
ReplyDeletePlease bring to shop to view the condition or MMS me sharp images.
My appologies, a mistake from me as wrong Info given for the person who help me to trace through the available 1 cent coin, mostly 1967. I though I am so lucky. Recently just " reload " my coin interest since I stop about 10 years ago. Now so easy to retrieve info from the right source like yours instead from the past which ref book even hard to get.
ReplyDeleteHi, I have a 1979 10 cent Malaysian coin, worth anything?
ReplyDeleteI have a 1979 Malaysian 10 coin, wondering what it may be worth.
ReplyDeleteHi Michele Abi-Saad,
ReplyDeleteI must view the actual coin to confirm the value.
I was told the 1976 1 cent coin have only 100 pieces is it true.
ReplyDeleteHi Raymond Bala,
ReplyDeleteThere should have more out there but so far not more 100 pieces known to exist.In my record less than 75 pieces.
how to exchange 1 cent 1976 ?
ReplyDelete