Tun Dr. Mahathir on his Chedet.cc – Blogging to unblock wrote an entry entitled “The Ringgit and the Dollar” on current US dollar crisis.
^ Tun Dr. Mahathir Mohamad, Prime Minister of Malaysia 1981 – 2003.
In this post, we will investigate in details our 3rd series coins. This is in response to my previous post, 10 facts about Malaysia’s new 3rd series coins. I will share with you how I discover my facts.
^ I was at Bank Negara yesterday to check out the new coins first handed
The engineering of my facts are simply breaking down the metal content of the coin in percentage and matches it with current metal market price. Four metals are involved in today’s baking lesson. They are namely Nickel, Copper, Zinc and Stainless Steel. Sadly, none of them are in the precious metals group.
Let’s crunch some numbers.
^ Image from http://www.bnm.gov.my website.
Today, we welcome the news from Bank Negara that we will be having a new set of coins to replace our current aged design. I took the effort to investigate and compare the newer coins with our existing coins and found some interesting facts. Below are the 10 facts I found interesting and that all Malaysian should know.
Fact #1: 50 sen shrinks 39.3% in weight.
Fact #2: 5 sen gain 21.9% in weight.
Fact #3: 50 and 20 sen have Nickel Brass content.
Fact #4: 5 sen is the only one gain in diameter with 9.4% gain.
Fact #5: 1 sen is officially retired.
Fact #6: Stainless steels are now our new 5 and 10 sen.
Fact #7: 100% nickel 50 sen is still 20% off its face value.
Fact #8: None of it has metal value that matches it’s face value.
Fact #9: None of it has value higher than the previous coins.
Fact #10: None of it has any precious metals in it.
Last Wednesday, Federal Reserve Chairman Ben Bernanke openly denied gold is money when questioned by congressman Ron Paul at point blank. Check out the video below on Ron Paul debating with Ben Bernanke on the Federal Reserve’s decision on bailouts. The classic moment is at 4″55. A classic too great to be missed out on beautiful Sunday morning.
Please make your own assessment of the relevance, accuracy and adequacy of the information contained in this Blog. You are advised to make your independent investigations as may be necessary or appropriate for the purpose of such assessment including the investment risks involved.