postgres12 alter table with type cast syntax error

I’m trying to alter a table with values like below. The data type is a string but I want to change it to numbers.

ALTER TABLE data ALTER COLUMN value TYPE NUMERIC(7,2) USING value::numeric 

ERROR:  invalid input syntax for type numeric: "1,000.00"
SQL state: 22P02

Answer

Well, the simple conversion doesn’t work. One method would be:

using replace(value, ',', '')::numeric