It is learnt that the Bank Negara Malaysia (BNM) is working on the third Malaysian circulation coin series project. The BNM is currently conducting a public survey to review the current coin denominations. They are looking into the possibility of reintroducing the RM1 coin to replace the current RM1 banknote. Of course this had been done on the previous issuance and it was proven that the combination of RM1 coin and RM2 banknote was not welcomed by the public.
One of the main reasons is that the RM1 coin was way too heavy to carry for the usage in our daily lives. With that in mind, the BNM is reviewing the size and the weight of the possible new RM1 coin. BNM is also studying on the behaviour of the common public that can accept a 50 cent coin which appear to be bigger and heavier that RM1 coin but why not the RM1 coin itself?
Indeed, our neighbour countries have implemented their $1 coin policy successfully. It is clear that the intention of the BNM to swap from the RM1 banknote to RM1 coin is actually good. It helps the country to save a lot of printing costs as the coin is more durable compared paper or polymer notes.
So, please convey or contribute you thought by joining the BNM's third Malaysian circulation coin series project survey.