Sunday, August 24, 2008

2nd Series : Coin of Malaysia 1990

Coin of Malaysia 1990 : Front and rear cover design issued by Bank Negara Malaysia

This beautiful pack of coins is the 2nd series of Malaysia issued in 1990 by Bank Negara Malaysia. In fact, the 2nd series of coins were introduced in 1989 to replace the 1st series of coins that has been circulated for 22nd years. The 2nd series of coins consist of denomination of 1 sen, 5 sen, 10 sen, 20 sen, 50 sen and $1.

This coin pack gives a brief introduction of Malaysia

Malaysia covers an area of about 330,000 sq km, with just over one-third of its in the Malay Peninsula (bordering with Southern Thailand) and the remainder in Sabah and Sarawak on the north-western coastal area of the Island of Borneo. It lies in Southeast Asia. The capital city is Kuala Lumpur. It is the business central and the seat of Federal Government.

Modern history of Malaysia begins with the emergence of the Malay kingdom of Malacca in the 14th century. It dominated both sides of the Straits of Malacca and was the centre of trade for spices. It fell to the Portuguese in 1511, marking the beginning of colonization by western powers. In 1641, Malacca was under the control of the Dutch and was later given to the British in the exchange for Batavia. Later, the other states in the Malay Peninsula progressively became British Protectorates. The Federation of Malaya became independent in 1957. In 1963, together with Sabah and Sarawak and Singapore, Malaysia was formed. However, Singapore separated from Malaysia in 1965.

Malaysia has a population of 23 million It is multiracial, embracing a diverse group of Malays and other indigenous peoples, Chinese, Indian and other minorities, such as Eurasians. Although Islam is the official religion, other religions are practised freely. Bahasa Malaysia is the national and official language, with English widely used in business.

Malaysia is a constitutional Monarchy practicing multi-party parlimentary democracy. It is a member of ASEAN and the Commonwealth.

The country is rich in natural resources and is a leading exporter of rubber, palm oil, timber and tin. Manufacturers account for about one half of the total exports. Malaysia enjoys a high standard of living among one of the highest in South East Asia.

This coin pack also gives brief description of coin design

Keris (1 Ringgit)
The keris is a traditional Malay dagger, which symbolizes authority and power. It is included as one of the main items of Malaysia’s Royal Regalia. Once considered a weapon, it now graces ceremonial occasions and is considered as a work of art. The background design depicts a popular “songket” motive.

Wau (50 Sen)
Kite (wau) flying is a popular from of Malaysian past time during the windy season especially in the East Coast. It requires much skill, dexterity and experience to make and to fly a kite. Kites are also decorative items, which sometimes grace the walls of Malaysian homes.

Tepak Sirih (20 Sen)
Tepat sirih, which is intricately carved, is used to store betel leaves and its accompanying condiments. They are used during auspicious occasions and is a sign of welcome amongst the Malays.

Congkak (10 Sen)
The congkak board is used for traditional indoor games, played by children with marbles in the Malay villages. It is carved out of wood and consists of numerous large holes. Played by two persons, with numerous variations of the rules, a congkak game is a popular past time. The congkak is placed on a traditional home-woven mat found in most Malay village homes.

Gasing (5 Sen)
Top (or gasing) spinning is an entertaining and competitive sport amongst the residents of the East Coast of Peninsula Malaysia. It is popular during the period when the rice crop is ripening and is believed to bring a good harvest. Top spinning competitions are a fascinating crown puller, with perfectly balanced tops trying to out-spin each other.

Rebana Ubi (1 Sen)
The Rebana Ubi is a gaily painted single-headed drum made of thick leather secured by a rattan hoop, with thick wooden wedges at the base frame. These are often assembled in groups of five and played during wedding celebrations. The beating of the Rebana Ubi is a popular gesture for welcoming guests.

Reverse Design
The reverse sides of the six denominations have a common design and feature the national flower, the Bunga Raya (or hibiscus flower) in the upper middle part of the coin with the denomination below it. The words “BANK NEGARA MALAYSIA” are described aong the upper circumference, with the year mintage in the lower half.

Saturday, August 23, 2008

The Power of Beijing 2008 Olympic Banknote

Recently, I met up with a banknote dealer, asking for the market value of the 10-Yuan Beijing 2008 Olympic Banknote that issued by People's Bank of China (PBOC) in July 2008. It came to my surprise that this banknote has appreciated so much so that it now costs about RM700 (USD225) to own a piece of this commemorative note. Searching through the auction website, I generally figure that that should be it current market value.

The Front features the "Bird Nest" of National Stadium and the official emblem of Beijing 2008 Olympic Games

The Back features a statue of a Greek sculptor Myron's famous work "Discobolus" (discus thrower) and the year 2008 written in Arabic script

What has caused this 10-Yuan banknote to escalate 150 times of its face value in less than 2 months time? To answer this, we have to go back to the fundamental of economic theory : the force of supply and demand. Image that the whole Republic of China has population of 1.4 billion and only 6 million limited edition of 10-Yuan commemorative note that issued to celebrate the Beijing Olympic. This has not taking consideration of many banknote collectors around the world have aimed to add this wonderful piece of banknote to their collection album.

The China Daily reported that Chinese people queue up overnight to buy the Olympic Banknote at 300 bank branches in Beijing. The queue was also observed in Nanjing and Jiangsu province. Many of the Chinese people are proud with the Olympic Games that held in Beijing and wanted to own of a piece of this commemorative banknote as a souvenir.

People queue up to buy Olympic banknotes at a bank in Nanjing, Jiangsu province [China Daily]

The bottom line is the value of a banknote can appreciate so much and so fast than what you can image. This is what we call the Power of an Olympic Banknote and also the Power of Banknote APPRECIATION.

Saturday, August 16, 2008

2nd Series - RM20 Note

The 2nd Series of Malaysia Banknote (Type 1) was issued in 1982 with the signature of Tan Sri Dato' Abd Aziz bin Hj. Taha. This series of banknote has a blind mark on the upper left corner of the note and its series numbers were printed horizontally.

In 1986, the revised 2nd series (Type 2) was introduced by removing the blind mark and readjusting the appearance of series numbers which were printed vertically in red colour instead. This revised series carry the signature of Tan Sri Dato' Jaffar Hussein. The design of the rear side for this revised series for the denomination of RM1, RM5, RM10, RM50, RM100, RM500 and RM1000 remain unchanged.

However, Bank Negara Malaysia has revised the printed image on the reverse of the RM20 note. The reason of changing the image of Bank Negara building was not explained. The revised 2nd Series (Type 2) of this RM20 note carries the image of the Bank Negara Building that taken from the right angle instead of front view as shown in its earlier note (Type 1).

The Type 1 of 2nd Series of RM20 note features the front view of Bank Negara building

The Type 2 of 2nd Series of RM20 note features the right view of Bank Negara building

Monday, August 11, 2008

How to Protect Your Collection?

Preservation and conservation of your banknotes collection begins with using the correct material for storage, proper handling and safekeeping.

Correct Material
Ensure that all material used for storing the banknotes are acid free to prevent it from damaging the banknote. Do not use common household products such as plastic wrappers, plastic bags, etc. for storing your banknotes as most plastics contain PVC (PolyVInyl Chloride) which can trap moisture and release acidic gases harmful to the banknote and may cause discoloration over the course of time. Avoid paper envelops as they contain sulphur. To keep them in the best possible condition you should use Mylar holders or other equivalent products which have been tested and approved for long term banknote storage.

Proper Handling
Your collection should be handled only when necessary. Avoid handling banknotes with your bare fingers as that will soil, leave marks, oil or sweat on the banknotes. Instead, use a pair of tweezers with studded ens to pick up the banknotes and if you must hold the banknotes with your fingers, make sure you wash and dry your hand. When you place the banknotes on a surface for examination, make sure that the surface is free from dirt, liquid or other potential contaminating elements.

Regular Inspection
Inspect your collection regularly and this will help you detect any deterioration at the early stage. It will help you prevent further deterioration by taking the necessary steps such as changing the banknote holder, sleeves and album or move them to a more conductive environment.

Conductive Environment
Always store your collection in a dry and cool place, away from moisture. Avoid direct sunlight and ultra-violet rays that may be destructive to your collection Banknotes are best stored at a constant temperature of 20-24 Celsius and a relative humidity of 45-55%. If the banknotes are kept in a small area, use silica gel and in large area, use a dehumidifier to reduce moisture and humidity.

Saturday, August 9, 2008

World Polymer Banknotes

A Standard Reference of World Polymer Banknote

Polymer banknote collecting is a fascinating and exciting hobby and this reference provides the perfect introduction. Beginning with a brief history of the development of polymer banknotes, World Polymer Banknotes provides invaluable information and updated price guide for both collectors and non-collectors. It is illustrated throughout with high quality images of all polymer banknotes issued by countries around the world today.
  • A concise & easy reading reference

  • More than 200 high quality images

  • Covers all 26 countries to date

  • Includes updated price guide

  • Full colour illustration

  • More than 200 pages

This guide book gives brief introduction of the country and its polymer currency

This guide book was published as first edition in Malaysia in 2005 by Eureka Metro Sdn Bhd. it is one of the pioneer guide books that gives comprehensive introduction and collection of the world polymer banknotes. It provides country introduction pages which cover history of the country, the name of the currency used, year of the first polymer was issued and brief history of this currency. On the polymer banknotes listing pages, it covers the denomination of the banknotes, the reason of issuance, date of issuance, its printer and the sizes of the banknotes.

The polymer banknote pages that give detail description of the note

The polymer banknotes were printed with high resolution images of the front and reverse of the particular banknote with the detail description of these images. For a polymer banknote collector, it is a highly recommended comprehensive guide book.

Besides Banknote - Disney Dollars

Back in 1998, I travelled to Walt Disney World located at Orlando, Florida. At this auspicious occasion that I came across that the Walt Disney World issued its special note in conjunction with its celebration of 25th Anniversary.

Disney Dollar with its cover

In fact it was in May 1987, the Disney Dollars were introduced to its Disney collectors. Disney Dollar could be bought and redeemed for its face value at any Disney property. The original idea was meant to be purchased by the parent for their kids as a gift or to be spent at Disney.

1997 Series of Disney Dollar

Front features Mickey as the Sorcerer's Apprentice from Fantasia

Back Features Cinderella's castle in the background with a "25" inside of Cinderella's pumpkin coach.

Besides banknote issued by central bank, there are other kind of notes that issue by a private company that only could be used within its property territory. Disney dollar is one of example of private notes. Particularly in United States, you can easily find different kind of currency from other theme parks such as Sea World Dollar, Universal Dollar, Wonder Dollar, LegoLand Dollar, Dolly Dollar, Chocolate Dollar and etc.

The scope of collecting banknote is huge. There are collectors whom only collect its own country notes or certain country notes. Others choose to collect commemorative notes, errors notes, notes with fancy number and in this case some choose to have the private notes as their collection.

Sunday, August 3, 2008

The Currency Legacy

The Currency Legacy - A Guide To Bank Negara Malaysia's Collection

This guide book was published in 26th January 1989 in conjunction with celebrating 30th Anniversary of Bank Negara Malaysia. It is one of the greatest books that gives historical background of Malaysia Banknote.

In its preface, the book gives brief introduction of setting up the Money Museum of Bank Negara back in 1979. The museum displays its collection through its galleries that clearly explained. The notes and coins are displayed in different galleries that include Primitive Money Gallery, the Pre-Colonial and Colonial Money Gallery, the Colonial Money Gallery, the Post-Colonial Money Gallery, the Minting Machine, the Minting of Coins, bank Negara Malaysia Gallery, World Commemorative Issues Gallery and the World Currency Gallery.

This guide book provides brief history and photos of each gallery. The primitive gallery covers the early money in the Malay States, Sarawak and Borneo. It also displays the primitive money in the form of animal money and Tampang or hat-shaped tin coins.

Pre-colonial and colonial money that displayed include coins of Kedah, Siamese and Chinese Gambling Counters, Coins of early Malay States, Coin and currency of Straits Settlements, Board of Commissioners of Currency Malaya, Sarawak and British North Borneo, Japanese Occupation Currency and etc.

Colonial notes and coins that describe in the guide book
This book also provides the information of cultural artefacts depicted in the 2nd Series of Banknotes that issued in 1982. This series of notes design has been clearly explained with photos.

Cultural artefacts depicited in the 2nd Series Banknotes

This guide book has total of 48 pages. Almost every page provides colorful and attractive photos and illustrations. It has been one of my favorite collection guide book.