Hoarding Coins

My brother used to save $1 coins when he was young. When I first started work, I started saving my $1 & 50cent coins as well. Because I didn’t make much then, usually by the end of the month, I would run out of money and had to dig into my coin stash to feed myself till pay day.

As the years went by, I started making more, and didn’t need to dig into the stash anymore. Then simon came into the picture and we continued saving the coins, but now in giant glass coke bottles. Now that they just started releasing the new series of coins, we decided to cash out, and collect the new coins instead.

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Banks charge for coins deposit. But luckily, after some googling, I found out that Singapore Mint does coin conversion, with the first 1000 coins being free.

The Singapore Mint – Coin Gallery
20 Teban Gardens Crescent Singapore 608928

Operating Days:
Mondays to Fridays (closed on public holidays)

Operation Hours:
8.30am to 11.30am & 1.00pm to 3.00pm

Coin Deposit via Self Service Coin Deposit Machine
With Effect from 1 February 2013:
Terms and Conditions
1.      By using this Coin Deposit Machine (‘the machine”), I accept all Terms and Conditions governing its usage.
2.      I accept that once coins have been inserted into the machine, they cannot be returned and I accept the tally of the Machine as final and conclusive.
3.      I accept coin deposit fee for first 1,000 pieces of coins is free per person, per transaction and per day with the need to present the personal identification card (multiple identification cards per person is not acceptable).
4.      I accept that the coin Deposit fee is $5.00 (or $5.35 inclusive of GST) per thousand pieces of coins for all denominations or part thereof exceeding 1,000 pieces.
Example:
Quantity of coins
Coin Deposit Fee
1 – 1000
$0.00
1001 – 2000
$5.35
2001 – 3000
$10.70
3001 – 4000
$16.05
4001 – 5000
$21.40
5001 – 6000
$26.75
6001 – 7000
$32.10
7001 – 8000
$37.45
8001 – 9000
$42.80
9001 – 10000
$48.15

(source: Singapore Mint)

The coins are very very  heavy. A 1000pc mixture of $1 and 50cents weighs about 8kg. So I will be lugging down 8kg worth of coins to the mint tomorrow.

If this were a maths question, it would be something like this:

Tom brought down 1000 coins to the Singapore Mint and exchanged it for $660. If he had only $1 and 50cent coins in there, how many of each coins did he bring?

I’ve a lot more coins to change. I don’t mind paying extra for the additional coins, but carrying another load of coins – that’s quite a challenge.

I wonder if it’s a crime to hoard coins.

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