Singapore Mint collects S$5m worth of coins in exchange exercise
By Ng Lian Cheong, Channel NewsAsia | Posted: 15 February 2009 1954 hrs

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SINGAPORE : More people are emptying their piggy banks and changing their coins into notes.

The Singapore Mint said it collected a record S$5 million worth of coins in its latest coin exchange exercise - double the amount in previous years. Most are 50-cent and dollar pieces.

The Singapore Mint said the economic downturn could be one reason for people to dig up their loose change.

Undamaged coins are repackaged, while the rest are melted down to be minted into new coins.

The recycling of old coins is also one way of going green. That is because the minting process can pollute the environment.

The next coin collection exercise is in April. The public may also exchange their coins at the various town councils. - CNA/ms