Jakarta, Indonesia Sentinel — Bank Indonesia (BI) has officially withdrawn the special edition “For The Children of The World” coins from circulation. The withdrawal has sparked a surge in demand among collectors, driving prices to extraordinary levels.
Ramdan Denny Prakoso, Head of Bank Indonesia’s Communications Department, confirmed that the special edition currency issued in 1999 with denominations of Rp150,000 and Rp10,000 is no longer valid for transactions in the Republic of Indonesia.
The decision follows the implementation of Bank Indonesia Regulation No. 2 of 2025, makin the commemorative coins are no longer considered legal tender as of January 31, 2025.
“As of the specified date, the Special Edition Rupiah is no longer recognized as legal tender in Indonesia,” Prakoso states on Tuesday, February 4, 2025, as reported by CNBC Indonesia.
Exchange Process and Conditions
Despite being withdrawn from circulation, holders of the special edition coins can exchange them at Bank Indonesia between January 31, 2025, and January 31, 2035. The exchange service is available at Bank Indonesia’s headquarters and regional offices across the country.
Customers must schedule their exchange via the PINTAR application at www.pintar.bi.go.id, following operational guidelines set by the central bank.
The exchange value will match the face value of the coins. However, if the currency is damaged or deteriorated, Bank Indonesia will refer to Regulation No. 21/10/PBI/2019 on Rupiah Currency Management:
- 1. If more than half of the original coin is intact and its authenticity is verifiable, the holder is entitled to an exchange at full nominal value.
- 2. If the remaining coin is equal to or less than half of its original size, no exchange will be granted.
Collector Demand Drives Prices Sky-High
Following Bank Indonesia announcement, interest in the special edition coins has surged among collectors. A market survey by CNBC Indonesia found that the Rp10,000 coin from the 1999 series is being sold for as much as Rp29.5 million ($1,900) on online marketplaces.
The high valuations are partly attributed to certification by the Numismatic Guaranty Company (NGC), the world’s largest third-party coin grading service. NGC provides impartial and consistent assessments of authenticity and quality, further increasing the coins’ desirability among collectors.
Other sellers are offering the same coin at varying prices, ranging from Rp10 million ($640) to Rp19.6 million ($1,250), reflecting the strong demand.
Special Edition Coins
The special editions considered special as it is issued on special occasions in a limited numbers in Indonesia. Aside from that, the coin also hold additional value and special feature.
According to Tempo, the special edition “For The Children of The World” coins, issued in 1999 with denominations of Rp150,000 and Rp10,000 were introduced as part of Bank Indonesia’s contribution to improving the welfare of children in Indonesia and globally.
The issuance of these coins aimed to raise funds were aimed to raise funds for children’s welfare programs worldwide through UNICEF’s ‘Children of the World Coin Collection’ initiative.
The Rp150,000 gold coin holds additional value due to its composition. The coin is minted with 0.999 pure gold, has a diameter of 22 mm, and was produced using proof-quality minting techniques. When it was first issued, gold prices stood at Rp75,000 ($5) per gram, compared to the current value of Rp1.65 million ($106) per gram.
Design and Historical Significance
The obverse of the Rp150,000 coin features the Garuda Pancasila, the emblem of Indonesia, along with the words “BANK INDONESIA,” the UNICEF logo, and the year of issuance.
The reverse side showcases a young boy playing Kuda Lumping, with the inscription “FOR THE CHILDREN OF THE WORLD” and the nominal value of “Rp150,000.”
The Rp10,000 silver coin bears a similar design, with Garuda Pancasila, “BANK INDONESIA,” the UNICEF logo, and the year of issuance on the front. The reverse side depicts two farmers planting saplings, accompanied by the same UNICEF inscription and the nominal value of Rp10,000.
Read Also:
Indonesia’s Komdigi Investigates Alleged Data Breach Following Cyberattack
Bank Indonesia has a history of issuing commemorative and special edition coins. The highest denomination ever released was an Rp850,000 coin featuring President Suharto, marking the 50th anniversary of Indonesia’s independence.
Other special releases include an Rp300,000 coin for the same occasion and an Rp500,000 coin commemorating the 100th anniversary of Bung Karno, Indonesia’s first president, featuring his portrait and the years 1901-2001.
(Raidi/Agung)
