2016-04-16 Sat

It has been discovered that Singaporean Coins are being used to make jewellery like trinkets earrings, necklaces, rings etc. and being sold on a U.S based online website.

As per the Currency Act in Singapore it is illegal to tamper, destroy or deface Singapore currency by painting, engraving or cutting them. People indulging in such crimes would be fined up to $2,000.

One of them has been doing this since 38 years now and his 10 cent earrings could sell at $125 a pair. Most of these products that are sold online use the first series issued by the Singapore Mint from 1967 to 1985, the marine series which features designs of the seahorse, swordfish and lionfish.

All the sellers who operate from foreign countries, punch holes on coins, perform silver soldering, annealing and tumble polishing after buying these coins from online portals. Many sellers say that they were unaware that making Singapore coins into jewellery is illegal. But the sellers also know that it might be illegal in Singapore, but it isn't illegal in their own countries.