My colleague is someone who looks through all the banknotes in her wallet every time and she would keep some pieces which have special numbers. For example, those with triple 8s. I do not think she intends to sell it to the highest bidder but it’s just an interest. I have also started doing this after my friend told me about the potential of banknotes with special serial numbers. However, both of us should bear in mind that the main issue with these banknotes would be that the note itself might no longer be in its original condition. It may even be oily or worn out due to wear and tear.
How about if we have a piece of banknote which we have kept for some time and the serial number happened to be AA8888888? Well, we should not because that particular banknote was kept by Bank Negara Malaysia and they have just gotten their official auctioneer, MNP Auctioneers to conduct the second edition of the banknote auction. First one was last year. Read here: Banknote Auction Malaysia, First One Ended on a High Note. This AA8888888 RM100 banknote was won by a Malaysian collector who bidded RM76,000 for it. Yes, it’s the price of a new Toyota Vios for one RM100 banknote. Before you say this is crazy, do google online and understand that banknote investment is indeed more of a norm in the developed markets.
MNP Auctioneer’s Managing Director, Stephen Soon said that, “The number eight is a homophone for the word ‘prosperity’ in Chinese, hence its popularity. In Malaysia, twin prefixes and solid numbers are the most popular among collectors.” For the second official BNM banknote auction, all the winers of the banknotes bidding would get a framed note and a certificate of authenticity signed by the BNM governor herself, Tan Sri Dr Zeti Akhtar Aziz. Perhaps the third auction would see a n even higher record bidding? From the looks of it, I think this is very possible.
I do not see myself as a serious banknote investor. Not now anyway but I think this type of alternative investment is pretty interesting. Just like in some countries, people even invest in wine or antiques. The reason is the same; scarcity. Of course, the extra benefit for wine investment would be that should one is too thirsty, one can also open a bottle to drink. Stamps can also be something worthwhile but between stamps versus banknotes, I think I would prefer the banknote. At least, the banknote is a legal tender and IF it is no longer a legal tender, then it’s even better as the value would be higher. Think about it and perhaps take action. Take notice of the 3rd auction in the near future.
written on 7 Apr 2015
Next suggested article: BANKNOTES from BNM. Understand from the expert on investing in one.