Monday, July 25, 2011

Commemorative Coins for Malaysia's New Third Coins Series

Another exciting day for coin collectors with the official launched of the new Third Series of the Malaysian coins which will be available for circulation in early 2012. Tan Sri Dr. Zeti Akhtar Aziz, governor of Bank Negara Malasyia, launched these commemorative coins which come in the denominations of 5 sen, 10 sen, 20 sen and 50 sen.
The new coins series draws inspiration from distinctive features that define the nation's rich culture and heritage. The design motifs were crafted in the form of nature, flora and fauna and traditional handicraft which is found in Malaysia.
This series of new coins are smaller and lighter compare to previous two series, making its more user-friendly for the public. The yellow and silver coloured coins and the edge designs enable the public and also the visually impaired to identify and distinguish the different denominations. The new series of coins embodies the latest advancements in minting technology which incorporates improved counterfeit resistance security features. The new metal alloy used for minting has enhanced durability against wear and corrosion.
Bank Negara Malaysia will make available 500,000 sets of the commemorative coins (Brilliant Uncirculated) comprising all the coin denominations with special packaging and to be sold in stages to the public at RM 10.00 per set.
These coins will be available for sale from 26 July 2011 at Bank Negara Malaysia's headquarters (BNMLINK) and its branches located in Pulau Pinang, Johor Bahru, Kuala Terengganu, Kota Kinabalu and Kuching.

The 3rd Series of Malaysian Coins

The motif for the 5 sen, 10 sen and 20 sen denomination features fourteen dots representing the thirteen States and the Federal Territory and (with exception of the 50 sen coin) five horizontal lines representing the five principles of the 'Rukun Negara' (national pillars).

The motifs for each domination are as follows:-

  • 50 sen - Sulur Kacang

  • 20 sen -Bunga Melur

  • 10 sen - Orang Asli Motif

  • 5 sen - Destar Siga

The reverse of all coins, 5 sen, 10 sen, 20 sen and 50 sen features the same motifs i.e. the hibiscus which is the national flower and numerals indicating the year of minting, the face value of the coin and the words 'Bank Negara Malaysia' as the issuing authority of the coins.
Further information of the Third Series of Malaysian Coins is available at Bank Negara Website.

Sunday, July 3, 2011

The RM500 and RM1000 Note

Interesting facts on RM500 and RM1000 notes to share with collectors.

On May 1999, Bank Negara Malaysia had issued an reminder to the public that effective on 1 July 1999 the currency notes of RM500 and RM1000 denominations (2nd Series of Malaysian Banknotes) will be demonetized and shall cease to be legal tender. This was mainly due to the Asian monetary crisis of 1997 whereby huge amounts of Malaysian currency were taken out of the country to be traded in these notes.

In the recent answer given by the Deputy Finance Minister to the Parliament, he has pointed out that there are still 150,599 and 26,018 pieces of RM500 and RM1000 still have yet to be "recalled" by BNM. In other words, a total amount of RM75,299,500.00 of RM500 and RM26,018,000.00 of RM1000 have been ceased to be legal tender.

As of 30 January 2011, BNM has withdrawn 92.4% of RM500 and 99.4% of RM1000 note.

2nd Series of RM500

2nd Series of RM1000