GEORGE TOWN – Traders of old banknotes and coins netted a whopping RM1 million in sales on the first day of a three-day fair held here recently.
Some 30 counters were set up at the Penang International Malayan Banknote and Stamp Fair, which saw a steady stream of enthusiasts and buyers.
Former factory manager Mohd Nurul Badri Mohamad, 52, from Permatang Pauh, Bukit Mertajam, said he made sales of RM15,000 on each of the last two days of the event.
“There is demand for East India Company and Straits Settlements currencies, and also Bank Negara Malaysia (BNM) currencies. BNM governor Ali Abu Hassan’s edition of RM1, which I bought for RM1,000, was sold for RM10,000.
“I have 20,000 pieces of coins and banknotes in my collection, for which I have invested more than RM100,000.”
Pharmacist Tan Kah Seng said there is always demand for Straits Settlements, and Malaya- and British Borneo-era coins and banknotes.
“Banknotes issued between 1931 and 1935 can fetch RM10,000, and 1932 banknotes, up to RM15,000. Those issued by the Commissioners of Currency of Malaya between 1931 and 1935, series A1 and C39, are also in demand. They are valued at up to RM15,000, as the mintage was very low.”
The 28-year-old said he sold RM100 BNM notes from 1967 for several hundred ringgit.
A RM1 note from the same period can fetch between RM200 and RM300.
Tan said coins issued by the East India Company and Straits Settlements, and in the Malaya and British Borneo period believed to have been destroyed during the Japanese occupation from 1941 to 1945 can fetch the highest prices.
Retired bank officer R. Govindasamy, who has a shop in Jalan Sultan Idris, Ipoh, said there is much to learn about history in old currencies.
The 70-year-old said the 1788 Straits Settlements currency is a favourite among enthusiasts.
A Straits Settlements 10-dollar note dated September 5, 1924 is now worth RM120,000, and one dated January 1, 1930 has a value of RM80,000.
Govindasamy said the prefix on the note itself carries value, with “strong” serial numbers like 111111 or 222222 having an advantage.
For guidance on pricing, traders usually refer to the standard catalogue on Malaysia, Singapore and Brunei coin and paper money, which is in its 23rd edition. – The Vibes, October 24, 2020
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