Thinking of ways to make money? How about by selling some old cash? Recently, it was discovered that certain Malaysian bank notes and coins are worth several times over their original values!
If you still have some old bank notes and coins, it may be time to start perusing your collection. After all, it seems some of them have recently gone up in value and selling them to the right people will earn you a hefty amount. For instance, a certain RM1 note and a 10 sen coin are currently in high demand!
Avid collectors will know all about limited edition items and how much these will be worth. Well, as it turns out, these two currencies are currently worth quite a bit; particularly RM1 notes with the serial number CR7200000 and limited edition 10 sen coins issued in 1971. Malaysia Numismatic Society member Dickson Niew recently spoke to Harian Metro about the two items, explaining why they are in such high demand.
According to Dickson, many are hunting for the RM1 bank note which has the National Bank’s governor Tan Sri Ali Abu Hassan’s signature. The note and signature are allegedly special as he only held office for roughly a year and a half. The National Bank has reportedly withdrawn the notes, however, there are still 50,000 notes unaccounted for.
Dickson claims the note is worth about RM6000 a piece, RM3000 if it has been folded once and RM2000 if it has been folded twice. “Limited editions like the 10 sen coin minted in 1971 which has only 32,000 pieces are also in high demand with prices that can reach RM500 for a (coin) today,” he added. Another piece, the Sa-Ribu Ringgit issued in 1968 and signed by 1st Bank Negara governor Tun Ismail Mohamed Ali, can reach RM120,000 if uncreased.
The avid coin collector then shared that cleaning bank notes or coins was ill-advised as it might affect the currencies’ condition, leading to a decrease in its worth. “We would rather (appreciate) its authenticity despite it looking bad as it’s more interesting and worth more compared to if it were cleaned,” he said.
Well, who says old money is bad money? It might be time to start holding on to certain coins and notes, as they just might be in demand in the future!