With all the talk of $10 million coin sales, what about the other end of the scale?
Scott Miller, Philip Mernick and Dick Hanscom forwarded this article about the lowed valued coins around the world. Thanks!
This month the Canadian mint stopped distributing the penny, or one-cent piece, as it costs more to make than it is worth. It's far from being the lowest-value coin around, however. Some central banks are clinging on to coins that are truly "small change".
There are many precedents for scrapping small coins. The US abolished the half-cent in 1857 and the UK's halfpenny was withdrawn in 1984. New Zealand and Australia abandoned the one-cent and two-cent coin in the 1990s.
Now some campaigners in the US and UK want the penny to be scrapped, because nothing can be bought with a one-cent or one-penny coin.
But there are coins, still legal tender, that have even lower value.
Take the Burmese Pya - the UK penny is worth 1,300 of them (the US cent is worth 850).
The lowest-value coin of all is the Tiyin from Uzbekistan. Some 3,038 equate to one UK penny (and 2,000 tot up to one US cent).
In practice, however, while these coins are legal tender, you would struggle to find them in everyday life.
"In Tanzania it's unlikely to find the five-cent coin in circulation because it literally cannot buy anything. The smallest you would probably find in the streets is 20 cents and you can buy a bunch of spinach in the local market for this," says Emanuel Boaz from the Tanzanian Central Bank.
To read the complete article, see:
The coin worth less than any other in the world
Kavan Ratnatunga adds:
Talking of low denomination coins I wrote a piece on the difficulty of finding them in Sri Lanka:
One Sri Lanka rupee is equivalent to 0.77 US cents.
So the Sri Lanka 25 and 50 cent coins are only worth less than 0.2 and 0.4 US cent
To read Kavan's article, see:
The Sri Lanka 2009 25 cent and 50 cent coins
To read a related E-Sylum article, see:
A CHART OF THE VALUE OF THE U.S. CENT
Wayne Homren, Editor
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