What Is The Most Expensive Coin In Nigeria?

Ever wondered what the most expensive coin in Nigeria is? As long as this curiosity is geared towards concerns on digital assets, and specifically crypto, then Bitcoin is the most expensive coin in Nigeria and the world at large. Of course, the worth of all crypto assets has the same value worldwide in real-time, and Nigeria is not any different.

For local physical Nigerian coins with no current legal tender value, they usually are sold to collectors who used them for numismatic purposes. Their prices vary. But the world coin catalog has it that the Nigerian 1 Penny coin is the most expensive; it’s valued at $229 – $500, depending on the year a specific coin was made.

It would suffice to say that the relevance of local Nigerian currency coins as legal tenders has watered down over time. So, it is very highly unlikely that it would not be the current digital coins, and by extension, cryptocurrencies, whenever a discourse involving coins surfaces in the Nigerian community. Which currently, are the most valuable form of money in the world at large. Let’s explore this further. 

The Most Expensive Coins in Nigeria Today

Digital Coins (virtual)

For virtual coins, their prices are decided by the world crypto market; their prices can be influenced by different factors, ranging from prominent organizations where they’re adopted, social media hype, juggernauts’ direct or indirect promotion, and overall liquidity level.  

Bitcoin takes the lead as it remains the most expensive coin in Nigeria. With a market value of #14,121,403.85, It is followed by Ethereum which is valued at #987,796.41. Both pieces are as of mid-April 2023. Nigeria has indeed formed a huge part of the world crypto community; especially Bitcoin.

Physical coins 

One of the ways to look into the richness of the cultural heritage of a country is through its past coins. Hence, it is common to see that today, local coins from many countries, specifically the ones dating over a hundred years back, are highly sought after. The Nigerian coins are not left out as they are pretty rare; their rarity is rooted in the fact that they were produced in limited quantities during those years. And the simple fact that they’re difficult to find heightens their worth. 

Here are some of the rarest coins ever used in Nigeria and the current prices according to the standard notation of the world coin catalog.

1. 1 penny coin is currently valued at $229 – $500
2. 3 Pence coin  is currently valued at $164 – $700
3. 6 Pence coin is currently valued at $300 – $700
4. 1 Shilling coin is currently valued at $100 – $700
5. ½ Kobo coin is currently valued at $070 – $213
6. 1 Kobo coin is currently valued at $041 – $063
7. 5 Kobo coin is currently valued at $048 – $106
8. 10 Kobo coin is currently valued at $034 – $1200
9. 25 Kobo coin is currently valued at $106 – $257
10. 50 Kobo coin is currently valued at $058 – $100
11. 1 Naira coin is currently valued at $055 – $300
12. 2 Naira coin is currently valued at $100 – $155

Worthy to mention also, is the fact that the value of these coins is tied to how far back in time they dated. 

Best Crypto Exchange Platform

This is for people looking for good exchange platforms where their crypto can easily be converted to local fiat currencies, without necessarily passing through the rigors of P2P. Conversion platforms with seamless processes, and more importantly, good track records, are the best to opt for. One such facility is DartAfrica. It’s one of the few platforms that have over the years, had an amazing number of sign-ups from its goodwill. 

While this conversion facility has secured an integral space for itself in the Nigerian and Ghanaian crypto community, it’s natural for people to ask, especially newbies, if Dart Africa is legit. Well, There’s no better way to find out than walking through its records on review platforms and checking its Google PlayStore ratings. 

A few of the many reasons that make it exceptional are its low conversion charges, fast payment time, secure network, and seamless process. The conversion is always done based on real-time coin market value; firstly, it is displayed on the platform’s coin calculator, this way, users can know what they’re settling for. 

Conclusion

Conclusively, the most expensive coin in Nigeria, digitally, remains Bitcoin. For physical coins, it’s the 1 penny coin (this could be depending on the collector and how far back in time the creation of the coin goes though). In time past, skeptics have always been on the negative side of the crypto page. But currently, it’s obvious that cryptocurrencies have come to stay, we have seen the inadequacy and futility of the fiat money system. The future of finance is here. 

Read more to understand certain crypto terminologies