Interest in coin collecting grows all the time

Bambang Parlupi, Jakarta

Many people, young and old, have found it increasingly appealing to collect old coins and banknotes as a pastime.

The search for such items produces a thrill of its own. A lot more collectors are now ready to pay high prices for antique cash, especially rare pieces with limited circulation, the value of which increases with age.

The nominal value of old coins is indeed small, but they can be exorbitantly priced. The ancient coins of one collector kept in a bank in Baltimore, Maryland, U.S., are an example.

According to John Kraljevick Jr from American Numismatic Rarities, the collector auctioned 2,800 of his early Roman, Greek, Latin American and Asian coins for an estimated reserve price of US$5 million (around Rp 52 billion). Likewise, rare coins issued in 1822 with reliefs of Emperor Pedro from Brazil were offered at $100,000 apiece.

The hobby of collecting antique money used in ancient times has also added zest to the activities of Indonesia's younger generation. Roy Chandra Yudha, 27, is among those expressing enthusiasm for gathering the old means of payment.

"I'm attracted by their historical value and rarity as relics of olden days," said the final-semester student of the PROSIA Communications College, Jakarta.

He said that his hobby began in the 1980s when he was a primary school student, and has since continued. "My collection includes over 160 coins and 111 banknotes," said Chandra, the art director of a private company. Apart from those of Indonesian origin, he also has many from several other countries including the Netherlands, America, Poland, France and Singapore.

"Among the oldest are coins of the VOC (Dutch East Indies Company) period in 1790, and some one-third-of-a-cent coins from 1836," continued Chandra, who also has several sheets of ORI (Oeang Repoeblik Indonesia, or Republic of Indonesia) banknotes. His collection includes the 1964 classical series of banknotes imprinted with the picture of Indonesia's first president, Sukarno.

"Uniquely, they curl up by themselves after being pressed," he said, adding that these were the pieces he liked most.

Flea markets

The coin hunt is a thrilling experience for hobbyists. According to Chandra, most of the old money is kept by individuals who do not much understand the meaning or value of vintage coins. "Usually, coin enthusiasts go to flea markets for the historic pieces, which are generally offered at reasonable prices. If we're lucky we can get centuries-old coins," he pointed out. Depending on their condition and year of issue, such rarities cost anything from Rp 5,000 to tens of thousands of rupiah apiece.

In Jakarta, some kiosks selling used articles also offer old coins, like those in Taman Puring, South Jakarta; Jenderal Urip Square, Jatinegara, East Jakarta; and in Pasar Poncol antique shops, Senen, Central Jakarta. Seasonal traders sometimes appear around Pasar Minggu station or the Blok M terminal, South Jakarta, and at Pasar Baru, Central Jakarta.

According to some traders, the rare money is bought from individual citizens and scavengers. Many collectors also obtain them from suppliers, close friends and relatives. Chandra got one of his oldest coins from a friend.

"One day he wanted to dump a piece, but I told him not to. After cleaning it, I found it to date from the Dutch era," he recalled. His Sukarno banknotes, bought from friends at Rp 50,000 some 15 years ago, "are now worth millions of rupiah. I'll sell them if anyone is interested," he added.

Numismatics

Besides being a hobby, collecting antique coins is also a lucrative business. No wonder many people gather metal and paper money for their high value -- the older the items, the more expensive can become.

Those who collect coins and medals are called numismatists, while the study of such coins, banknotes and other means of exchange in different periods is known as numismatics. Other items used as money like checks and share certificates also belong to this category.

The hobby also has the aim of satisfying collectors' curiosity about the historical background and artistic quality of their assorted pieces. In business terms, the value of such rarities may be hundreds or even thousands of times their nominal face value.