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(1sen) One sen coin no more

One sen coin no more

Next year April 2008, one sen coin is not gonna be used any more. So if you have a lot of one sen coins, faster use it. The maximum one sen coin you can user per transaction is up to 200 one sen coins.

This is because the Government’s rounding mechanism for over-the-counter transactions will be fully implemented by April 1st 2008 and it’s no April Fool. All payment totals will either be rounded up or down to the nearest five sen.

One sen coin chart

For example, if the total amount to be paid is RM88.81 or RM88.82, it will be rounded down to RM88.80. However, if the total that has to be paid is RM88.83 or RM88.84, it will be rounded up to RM88.85.

So those shopping complex that using RM99.99 is just a trick and it’s actually RM100.00 cost it create a fake thinking that it’s actually less than RM100.00 and it’s cheap but it’s actually not.

Updated One sen coin still useful haha.
use of one sen coin

The One-Sen Facts
– The coin remains legal tender and can be user as payment up to RM2.00
– Bank Negara has no immediate plans to demonetise it.
– It costs about 4.2 sen to make a one-sen coin as the pice of copper has increased by 300% in the last five years. (Wow this is crazy)
– It costs the Government RM14mil to mint the coins each year. (Unbelievable)
– The Central Bank has circulated about 4.4billion one-sen coins into the system.
– About 99% of the coins are not returned into circulation and are presumed lost.
– Seven other countries, including Singapore and Australia, also practise the rounding system.
– The rounding mechanism does not apply to online transactions like buying ticket from AirAsia.
– The rounding mechanism applies to even making payments by cheques, credit card, charge card or debit card over the counter.

more details



Author: Saimatkong

This blog is a platform to share what I love in life: food (eat), travel (play), photography (art) and life (thoughts and ideas). With passion for food, I share my foodie adventures and indulgences here. “There is no love sincerer than the love of food.”

Traveling makes us a better human being as we recognise the similarities and celebrate the differences of cultures between where we travel to and where we come from. “The World is a book, and those who do not travel read only a page.”

Photography do more than just capturing the best moments in our lives; they also help us tell our life stories. “Photography is a way of feeling, of touching, of loving. What you have caught on film is captured forever… it remembers little things, long after you have forgotten everything.”

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