Apparently countries like Indonesia, India, Russia etc have laws against letting any coins from their respective countries back in.
Yes, it is illegal to try and take a single rupee back into India.
That is why world bulk lots will forever be full of these worthless coins - there are trillions of tonnes of them outside the only country in the world where they can be spent and it is illegal to take them back there to spend.
At least New Zealand lets their coins come home!
I didn't know that, thanks for the info MMM.
I know it's against the law in India to take or send out coins more that 100 years old,
but wasn't aware of the law about taking or sending them back in.
Many years ago I used to trade with a guy named George in India.
I had to enclose this letter with every batch of coins I sent.
He had to enclose this letter with every batch of coins he sent to me...
Yes they let modern coins out in their millions but don't allow them back in!
So much for my idea of sending all legal tender coins back to where they came from so they can go back into circulation...
Same here. I have a bag full of Indonesian coins, so I have thought about giving them to someone who is heading that way. Just as well I didn't. (not that a bag full of their coins is worth much).
I don't think it's quite as bad as all that. Bulk loads of coins might be closely inspected, on suspicion that they're fakes, but are not outright banned in the three countries mentioned.
Indonesia: It is illegal to import more than 1 billion rupiah in cash (either in rupiah or in foreign currency) without the permission of the central bank. Amounts between 100 million and 1 billion need to be declared. Under 100 million is fine. You should also be aware that any coins older than 2013 are demonetized and essentially worthless due to inflation (100 million rupiah is about US$5,600 at current rates).
India: you can bring in much more than 1 rupee. Specifically, you can bring in up to 25,000 rupees, no issues or need to declare. Once again, many older coins are now obsolete so you would have trouble spending them. There are much stricter restrictions on importing gold or silver coins, but that's mainly so they can collect import taxes.
Russia: well, travel of Westerners generally into Russia is currently still quite restricted due to the Ukraine war, so the issue is rather moot. But in theory you can import up to US$10,000 in cash (notes or coins) without issues.
Sounds like the "standard" you have around $10k or more of local money coming into or leaving a country, it needs to be declared. Its common here, people from a certain part of the world (I will not name where as I may get called a racist), but its "Oriental", love carrying like $20l, $50k etc of notes out of the country and don't declare it and they get in trouble.
Countries like Indonesia that ban old coins too, may not want them as they have no facilities to melt them down or make new coins out of them, due to alloyed metals of no usage in any thing else. Their whole currency is worthless like their biggest coin 1000 rupiah is worth like 8 cents and their biggest note, the 100000 rupiah is only worth like $8.