The E-Sylum:  Volume 9, Number 18, April 30, 2006, Article 24

REDEEMING MARSHALL ISLANDS "COINS"

Dick Hanscom of Fairbanks, AK writes: "From the August 1997
issue of World Coin News:

"As the Marshall Islands Journal reported on June 13, 1997,
an individual must:

-Appear in person at the Treasury
-Redeem no more than 10 coins per day.
-Present an original invoice showing the purchase of the
  coins; and
-Pay a 10 percent fee."

Thus, if exchanging 10 - $50 coins, the maximum one could
realize is $450 per day.

An earlier letter to the editor (March 1, 1993 World Coin News)
from the "Secretary of Finance" indicates that for coins over
$10 denomination, only one coin per day could be redeemed, and
for coins of less than $10, a maximum of $10 per day will be
exchanged.  All other terms from the above 1997 statement hold."

[They really make holders stand on their head and bark in order
to collect, don't they?  Shades of the days of wildcat banks,
which would force noteholders to appear in person at certain
hours on certain days at their home office in some remote hamlet
with some impossibly large amount of notes in order to redeem
them for coin. -Editor]

  Wayne Homren, Editor

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