SINGAPORE LINES UP FOR $10 COINS

 

After visiting three different DBS Bank branches, Mr Andiappan, a 72-year-old coin collector, finally obtained eight $10 commemorative coins for the 100th birth anniversary of Mr Lee Kuan Yew.

The retiree, who goes by one name, tried the DBS Bishan branch and then the DBS Towner Road branch in Boon Keng on the morning of Dec 4 – the first day the coins were available for walk-in exchange at banks – but both had run out of coins available for exchange that day.

He then made his way to the DBS Plaza Singapura branch, where he successfully snagged eight commemorative coins at around 1.40pm after waiting for nearly half an hour.

Singaporeans and permanent residents made more than 700,000 online applications for 3.3 million coins – out of the four million minted – in a May 2023 online application exercise.

Successful applicants had until Dec 3 to collect the gold-coloured LKY100 coins, which feature a portrait of Singapore's founding prime minister. More than 700,000 coins were then made available for walk-in exchange the next day at 142 participating bank branches.

Long queues, which formed at various bank branches before they even opened on the morning of Dec 4, were cleared more quickly at some branches than others.

UOB told ST it had received overwhelming response on the first day of walk-in collection, and had put in place measures such as dedicated queues and deployment of temporary and part-time staff to help customers.

Walk-in exchanges will continue until Dec 31, 2023, or till stocks run out, whichever is earlier.

To read the complete article, see:
Some banks run out of commemorative LKY100 coin within 30 mins as walk-in exchange begins (https://www.straitstimes.com/singapore/some-banks-run-out-of-commemorative-lky100-coin-within-30min-as-walk-in-exchange-begins)

	NBS (coinbooks.org) Web