The Central Bank will auction 1,500 drums full of old and worn coins available at public auction. How to access and at what price.
Following the decision not to issue more banknotes at Casa de Moneda, the Central Bank (BCRA) made a decision regarding $2 coins, which already have little face value, but are valuable for the material with which they are made. This was confirmed by official sources Scope.
In the last hours, the organization headed by Santiago Bausili announced that will finish 1,500 drums full of coins. These are $2 coins that, although they are in circulation, have greater value due to the metals they are made of such as copper and nickel.
“The auction is held because the material has a value greater than the face value of the coin“So, what is being auctioned is based on its material value,” they explained. In that sense, it was explained that the BCRA will obtain a profit on these coins, not only for selling them, but also because it is not responsible for the process of deformation or melting of coins.
Coin auction: when it will take place and how to access
This auction is scheduled for November 21 from 9 a.m. to 10:35 p.m., through Banco Ciudad, and represents a unique opportunity for those interested in purchasing metals.
On the other hand, for those who wish to see the metal drums that contain the coins, They will be on display on November 7th and 13th, from 10 a.m. to 2 p.m., at the headquarters of Reconquista 266 (home of the Central Bank) and Mayor Arturo Luisoni 2545, both in the City of Buenos Aires.
For that, You must register up to 24 hours before the stipulated exhibition dates in: [email protected]informing last name, first name, ID and telephone number. In addition, it is necessary for visitors to prove their identity with their DNI for security reasons.
Coin auction: what is the value of the drums
Each drum will be offered in public auction, and its value will be determined solely by the price of the metals it contains, rather than its face value.
Each lot is made up of 10 closed metal drums on wooden pallets.which inside contain coins for approximately one million units and weighs about 7,200 kilos. In turn, initially, the drums will go up for auction with a base price of $4,390,000.
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Source: Ambito
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