I was strolling the streets as a sojourner,just sight seeing and asking questions through 'pidgin hausa' and desperate 'sign language'.
I stumbled on this pawn shop and and behold lots of coins were being sold there. There were lots of people buying these coins.My curiosity took over and I gathered there was high demand for them.
I saw coins from all parts of the world, old Nigeria and the New Nigeria.Coins coins coins.
I even remembered a caricature picture that went wild on social media when the then CBN Governor wanted Nigerians to start collecting coins from ATM. Thank God it did not happen. *laughs*.It would have created free products for this pawn shop.
All the coins in my possession, I kept for posterity sake to show my children and right before my eyes these coins were used to make money.
In fact the times I go to Shoprite Kano they insist on adding coins to my change all the time. Which was annoying to me as I felt it was just a waste of my hard earned money.
I went on to ask what the coins were being used for and I managed to understand that there were melted to make jewelry. Wow!!
Bronze coins were mellted to make bronze jewelry. Silver coins were melted to make silver jewellery. Gold coins were melted to make gold jewellery. Then the big bang was that the silver or bronze could be used to adulterate the gold in cases of those without scruples.
Most of these coins were from Nigerians who brought them in exchange for money. Many of these people are those who never believed in banks.Those who stored there money in dug out holes under their beds and did not realise they had to get to the banks to exchange their monies until they realised their monies were now declared invalid in the Nigerian money market!
Another set was from those who traveled abroad and had not need for the coins on return as the 'bureau de change' dealers are not interested in coins.
Happily I left the place knowing the my valid and invalid coins still had some value in Nigeria.
I even remembered a caricature picture that went wild on social media when the then CBN Governor wanted Nigerians to start collecting coins from ATM. Thank God it did not happen. *laughs*.It would have created free products for this pawn shop.
All the coins in my possession, I kept for posterity sake to show my children and right before my eyes these coins were used to make money.
In fact the times I go to Shoprite Kano they insist on adding coins to my change all the time. Which was annoying to me as I felt it was just a waste of my hard earned money.
I went on to ask what the coins were being used for and I managed to understand that there were melted to make jewelry. Wow!!
Bronze coins were mellted to make bronze jewelry. Silver coins were melted to make silver jewellery. Gold coins were melted to make gold jewellery. Then the big bang was that the silver or bronze could be used to adulterate the gold in cases of those without scruples.
Most of these coins were from Nigerians who brought them in exchange for money. Many of these people are those who never believed in banks.Those who stored there money in dug out holes under their beds and did not realise they had to get to the banks to exchange their monies until they realised their monies were now declared invalid in the Nigerian money market!
Another set was from those who traveled abroad and had not need for the coins on return as the 'bureau de change' dealers are not interested in coins.
Happily I left the place knowing the my valid and invalid coins still had some value in Nigeria.
Dr Dileem says 'Cherish all your coins'. They are of more value than you can think.
Dr Dileem
The Likita Bokanturai
Kano Nigeria
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