![]() But a 20-30% discount on the copper value is reasonable enough thus making, at the refinery gate, a 1 rupee coin worth perhaps 2 cents or two rupees. He needs to make a margin to run his refinery after all. Now obviously, a copper scrap refiner does not pay the full value of the copper contained within scrap. However, the Pakistani Rupee is currently some 94 to the US dollar, meaning the face value of the coin is about 1 US cent. The three grammes of copper in the 1 rupee coin (we are talking about the older style, the Jinnah on one side, Badshahi Masjid on the other, a brown colour, not the newer silvery looking coin) therefore has a refined value of 2.64 US cents. The LME price of copper is $8,800 a tonne today making 1 gramme of copper worth 0.88 US cents. But based on the balance of what I've seen (and a reasonable background knowledge of typical coin making alloys) we have a copper content of 75% and a coin weight of 4 grammes. This is not because of any gold or uranium content but rather because of the copper content.Įxactly what that copper content is is debatable: various sites give brass or bronze as the alloy and with different copper contents. However, it does seem to be true that the old 1 rupee coin is worth more than that face value of 1 Rs (Or technically, PKR). As far as anyone can tell there is no truth at all to either of these stories.
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