Wednesday, December 30, 2009

RM50 Error Banknote

The Star newspaper reported that a man withdrew a RM50 print defect note from an ATM machine at Penang International Airport on 29/12/09. This error note was among the 20 pieces of RM50 note which was withdrawn by him.

Of course, the error or defect note does happen. Perhaps, it happens only one in millions and many of error notes have been destroyed before they are released in the market. I suppose this guys is one of the lucky guy that bounds to withdraw an error note from ATM machine. This is what many banknote collectors are scouting for - "Error Banknote".

RM50 Error Banknote. Picture is taken from The Star.

You may want to read further report from The Star.

Friday, December 25, 2009

RM1 with Prefix CR

3rd Series of RM1 Note with the signature of Tan Sri Dato' Seri Ali Abul Hassan Bin Sulaiman

Out of all the new series of RM1 Malaysian banknotes, this 3rd Series of RM1 banknote signed by Tan Sri Dato' Seri Ali Abul Hassan Bin Sulaiman is the most expensive RM1 at the current market. It will continue to be one of the most expensive RM1 and continue to be searching by collectors.

This RM is special because all the 3rd Series of RM1 bears with Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz signature except the Prefix CR that comes with Tan Sri Dato' Seri Ali Abul Hassan Bin Sulaiman signature. In other words, out of billions RM1 banknote that issued by Bank Negara Malaysia, only 1 million of these notes have the signature that mentioned above.

Some collectors even pay thousands to own a piece of this RM1 note.

Thursday, December 24, 2009

RM1 ZG Replacement Note

Is all the replacement note of 3rd Series printed with prefix "Z"? I would say at this moment the answer is "Yes". But, there are also rumours say that not all the RM1 note with prefix "Z" is the replacement note. Anyway, not many of the replacement note with prefix "Z" appear in the market. I have seen Prefix "ZA, ZB, ZC, ZD, ZE, ZG and ZW". Anyone has seen replacement note of RM1 with other prefix than mentioned above?

Wednesday, December 23, 2009

The Straits Settlement - Emergency Issues 10 Cents

The Straits Settlements Government issued the low value of Emergency Notes from 1917 to 1920 resulted from the shortage of subsidiary coinage in the latter part of World War 1. Part of these notes (mainly 1st and 2nd Issuance of 10 Cents note) were printed by the Government Survey Office in Kuala Lumpur and others (3rd Issuance) are by the Thomas De La Rue & Co Ltd in London.

Straits Settlements - 10 Cents Emergency Note 2nd Issue with signature of Treasurer, A. M. Poutney

The 1st and 2nd Issue of Straits Settlements 10 Cents Emergency Note were issued from 1917 to 1920. The front feature the British Royal Arms with the main inscription "The Government of The Straits Settlements Promise to pay the bearer on demand at Singapore Ten Cents Local Currency for value received" below it. The serial number and Treasurer's signature were printed at lower left and right corners. At the four corners within the double boarder, the value of Ten Cents was printed in languages of Jawi, Tamil, Chinese and English.

The different of 1st and 2nd Issuance of this 10 Cents Emergency note is the Treasurer's signature. The 1st Issuance bears the signature of H. Marriott while the 2nd Issuance was signed with A. M. Poutney.

Straits Settlements - 10 Cents Emergency Note 3rd Issue

The 3rd Issue of 10 Cents Emergency Note was issued by the Straits Settlement Government in 1919. The front features the Crown Arms flanked by serial number with the inscriptions of "The Government of The Straits Settlements Promise to pay the bearer on demand at Singapore Ten Cents Local Currency for value received" below it. This note is designed within a patterned green border which contains the value written in Malay, Tamil, Chinese and English at the four corners.

Malaya King George VI - $10,000 Note

Malaya King George VI - $10,000 Note

This is a rare piece of "Board of Commissioners of Currency Malaya" specimen note with a face value of Ten Thousand Dollars. It was one of the highest face value note in peninsular Malaya during early 1940s. This note was originally printed by Bradbury, Wilkinson and Co Ltd in 1 January 1942. It was not commonly circulation and was only used for inter-bank transactions.

The front note features the portrait of King George VI in oval frame at right and the note value in ornate guilloche at left. Interestingly, this note bears two serial numbers A/1 10751 and A/1 02750 located at the upper right and lower left corners.

Sunday, December 20, 2009

Watermark on Banknote

Watermark has been one of the security features against any counterfeit notes since many decades ago. It is so common that the most of the modern paper banknotes have equipped with it. Do you have any idea how it is made or incorporated inside our banknotes?

Watermark is a design or pattern that put into a paper during its production by modifying the concentration of fibres of which the paper is composed. It is produced in such a way that the darker portions having a higher density while the lighter portions having a lower density than the normal. The true effect is it can only be produced during the manufacture of the paper itself. Any attempt to imitate a shaded watermark by using "pressure", "wax" or even printing is inevitable and can be detected easily.

One of the common test to view the watermark is by holding the paper banknote against lights. The object of watermark shows in the banknote are varies and they are ranging from images, portraits, animals or even geometric designs.

Watermark with portrait of Yang Di-Pertuan Agong

The watermark appears in Malaysian Banknotes as early as in Straits Settlement Notes with the image of tiger head. This watermark has inherited until the First Series of Malaysian Banknotes. The watermark with the portrait of First Yang Di-Pertuan Agong was adopted since the Second Series until the latest issuance.

What Do You Know About "Duit"?

In the earlier discussion, we have understood the meaning of "Wang". Let's explore on what do you know about "Duit"? Indeed, besides the silver coins that introduced by Dutch in Southeast Asian, they also brought along some small type of coins that made of copper. This copper coin was known as "Doit" or "Duyt". Back then, the usual exchange rate for "Wang" and "Doit" is 1 Wang (Double-Stiver piece) = 10 Doit.

Among all the copper coins introduced by Dutch, the "One Doit" is the most popular in circulation and widely used by local people. It was known as "Duit" in the Malay peninsular and was later became common word and well recognised by the local people. They had even adopted the word "Duit" into the Malay language that used to represent all type of instruments for payment.

The emerging of the "Duit" word since then had substituted other Malay words that represent the mode of payment such as "Kupang", "Emas", "Belanja" etc that relating to their payment instruments.

Therefore, both "Wang" and "Duit" are in fact the currency units that introduced by the Dutch. However, the meaning of both words have beyond their original context nowadays. They are used to represent the general term of money in our daily transaction.

The Meaning of "Wang"

The Dutch was among the earliest European to enter the Southeast Asia in their way to search and conquer the spice trade route. The Dutch manage to extend their control in Malacca after defeated the Portuguese in 1641. Since then, the Dutch introduced their own currency system via the trading company, Venerisch Oest-Indische Companie - V.O.C. from 1602 to 1799.

The silver coins that they introduced to the Malaya peninsular were known as "Daalder" which sounds closely to "Dollar" according to the Dutch pronunciation. Meanwhile, they also used the fractional silver coins known as "Stuiver" or "Stiver". The most popular fractional silver coin was the "2-Stiver-piece". The Dutch recognised it s "Double-tje" and the Malays as a whole used to named the silver coin as "One Wang".

The word "Wang" was indeed transformed from the currency units of that introduced by the Dutch and was adopted commonly by the local. However, the word "Wang" today has expanded its meaning further and it is used to represent general money in our daily life. "Ada Wang tak?" or "Do you have any money?" and that's how we interpret it nowadays.

Sunday, December 13, 2009

Jonker Stamp & Money Fair 2009

For those collectors who are looking for Stamp and Money Fair around the country, it is a good change to search for the coins, banknotes and stamps in the up coming "Jonker Stamp & Money Fair 2009". I bet should be familiar with famous Jonker Walk located at the Historical City of Malacca. If you have not been to Jonker Walk, take this as an opportunity to spend time with your family on this coming holiday.

This Jonker Stamp and Money fair will be held from 25-27 December 2009. It starts from 9:30am to 9:00pm. There will be many dealers available to offer you rare coins, banknotes, stamps and antiques at very attractive prices. So, come a join this meaningful event and you will surprise to find some good deal then. See Ya!

Directory Map of Jonker Stamps and Money Fair.

The Chronicles of The Ringgit

This is a very interesting book about the history and development of "Ringgit" or Malaysian currency during the colonial, pre-independence and post Independence. This book is co-published by "Lembaga Muzium Negeri Pulau Pinang" and "Pesatuan Warisan Numismatik Kesultanan Melayu, Malaysia". I am glad to obtain this book during my recent visit to Penang State Museum.

"Ceritera Ringgit" or The Chronicles of The Ringgit

This book is written in two languages namely Malay and English. It is divided into three sections. The Section 1 gives the definition and origin of the Ringgit. It explains the meaning of "Trade Currency" in general and recounts the origin of the "Ringg it" which has been used throughout the Malay world, from the very beginning up to present day Malaysia.

The Section 2 explains the Ringgit and its supporting fractions. This section touches on several types of currency fractions which had been circulated to support the "Ringgit or Dollar" system, from the early days until present.

The Section 3 of this book provides information on the value of Ringgit. It covers lightly on the value of the Ringgit as compared to commodity, as as t be able to feel its changing value in daily life, with the passage of time.

Section 1 covers the trade currency and the origin of the Ringgit.

Section 2 gives information on the Ringgit and its supporting fractions

Sunday, December 6, 2009

Banknote Holder

For a beginner, a banknote album and holder could be expensive to them. Most of the banknote album and holder are imported from oversea and it is quite costly. An imported and good quality banknote album with holders can easily cost few hundred bulks and therefore not many of the beginner can afford it.

However, banknote holder and protector is required and essential to protect your banknote. It is advisable not to use plastic wrappers or plastic bags to store your banknote 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.

I notice that some of the banknote holders are also produced locally and they price is much cheaper than those imported. As comparison, I have scanned both of the banknote holders: locally made and imported for your viewing. Of course I have added a black separator for easy viewing as both holders suppose to be transparent.

Banknote holder by local brand - Numis

Banknote holder by Leuchtturm, Gemarny

Notice that manufacturer names are printed on the left side (near the punched holes). Local made printed with "Numis" while the imported printed with "Vario - Made in Germany". Besides, you can also feel that the quality of two holders are different and there is where you need to pay extra for the imported holder. Having said that, the local made holders are also safe to be used.

Thursday, December 3, 2009

Counterfeit Banknote

There are many cases of counterfeit banknote appear recently in the market. A local newspaper reported a couple was caught by police for depositing the fake banknote into ATM machine and later withdrawing it through another ATM machine. Ironically, some of these counterfeit banknotes were identified as new series of RM50 note.

According the Bernama, cases of counterfeit banknote in the country is still low and under control, especially involving RM50 notes, with only 13 notes found per million Ringgit. The Finance Department informed that 48,555 counterfeit notes were detected and reported to Bank Negara Malaysia (BNM) from 1 January 2009 to 30 September 2009.

The international guideline says that if the counterfeit money reaches 20 pieces per million issued, it can be considered serious. Only when that happens will the situation need to be rectified and safety measures implemented immediately.

Eventhough we have yet to reach the critical mark as highlighted above, the government and BNM are taken several measurements to improve the security features of the notes. This includes the new series of RM50 note that has equipped with high technology security features to make it difficult to falsify.