VIETNAM TO SELL UNPOPULAR COINS AS SCRAP METAL

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V22 2019 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 22, Number 20, May 19, 2019, Article 25

VIETNAM TO SELL UNPOPULAR COINS AS SCRAP METAL

On the topic of recycling coins, here's an article forwarded by Pabitra Saha on Vietnam's plan to simply scrap over 600 tons of unwanted, unneeded coins. -Editor

Vietnam will auction over 600 tons of coins, whose minting has been stopped for years now because of their lack of popularity.

The State Bank of Vietnam (SBV) said it would auction the coins after turning them into metal scrap with a reserve price of VND48 billion ($2 million).

Vietnam began minting coins in 2003 to facilitate payment on buses and vending machines.

But they were met with public apathy because they were hard to use due to their small size and vending machines are rarely seen in the country.

The SBV stopped the production in 2011.

To read the complete article, see:
Vietnam to auction unused coin currency as scrap (https://e.vnexpress.net/news/business/economy/vietnam-to-auction-unused-coin-currency-as-scrap-3923225.html)

Garrett Mid-American E-Sylum ad04b Mary Lynn

Wayne Homren, Editor

The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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