Are Old Singapore Notes Still Legal Tender

Are Old Singapore Notes Still Legal Tender

Commemorative notes are also issued, usually in limited quantities. The first commemorative note was issued on 24 July 1990 to celebrate the 25th anniversary of Singapore`s independence. Of the $5.1 million polymer notes issued, 300,000 were printed with the anniversary date “August 9, 1990.” This $50 note was the first commemorative note issued by the Board of Commissioners of Currency, Singapore (BCCS) and was also the first polymer note in the history of Singapore`s currency. In addition, the $50 note was the first note designed in Singapore by a Singaporean artist. The MAS is the only authority that issues Singapore banknotes and coins. He is responsible for maintaining the security, availability and quality of currency in Singapore. See details of Singapore`s past commemorative and numismatic notes issued since 1990. The orchid banknote series is the first to be put into circulation in Singapore. It was issued from 1967 to 1976 and has nine denominations: $1, $5, $10, $25, $50, $100, $500, $1,000 and $10,000. To celebrate the Millennium 2000, five million $2 million banknotes were printed with the Millennium 2000 logo, which replaces the serial number prefix normally found in other banknotes in general circulation. [3] On 31 March 2003, the BCCS merged with the Monetary Authority of Singapore (MAS), which assumed responsibility for issuing the notes.

On 4 May 2004, MAS began issuing polymer versions of the S$10.00 general circulation note; Polymer versions of the S$2.00 and S$5.00 banknotes were later released. [2] Higher value banknotes (S$50.00, S$100.00, S$1,000 and S$10,000) are still printed on paper. The paper version of the low-face banknotes remains in active circulation alongside the polymer version, although the number of S$2.00 and S$5.00 paper notes has decreased significantly since the introduction of the polymer banknotes. [3] Don`t confuse it with “The Singapore Mint.” The Mint of Singapore is simply the “manufacturer” or “printer” authorized by MAS to produce Singapore banknotes and coins. Since Singapore`s independence, four sets of banknotes and three sets of coins have been issued for general circulation. For example, a rare orchid is worth $25$105 (a 320 percent increase in value), while a full set of Bird Series notes can see a 95 percent increase in value. Find out how banknotes and coins are distributed to the public through banks. On 2 July 2014, the Monetary Authority of Singapore announced that it would increase pressure on $10,000 notes from 1 July 2014. October 2014 to reduce the risk of money laundering.

[4] MAS would also cease production of the S$1,000 note as of 1 January 2021, which has the same reason for withdrawing S$10,000 notes and because demand for these notes is low, except for the management of bank accounts (currently, the notes that are in high demand are S$50.00 and S$100.00 notes). The DSS said banknotes with a higher face value (over $100) will continue to be legal tender. [5] While notes from the portrait series introduced in 1999 are more common today, the Ship series remains instantly recognizable to many. The Bird banknote series is the second series of banknotes issued for circulation in Singapore. It was issued from 1976 to 1984 and has nine denominations, the same number as in the orchid series, although the $25 note was replaced by the $20 note. In 1985, the second series of coins was introduced in denominations of 1, 5, 10, 20 and 50 cents and 1 dollar. The reverse of these pieces was designed by Christopher Ironside. The new series offered smaller pieces that represented a floral theme.

The dollar banknotes were abandoned and gradually replaced by an aluminum-bronze coin. The 5-cent coin was also changed to aluminum bronze, while the 10-, 20- and 50-cent copper-nickel remained. A limited number of $5 bimetallic commemorative coins with wavy edges were also issued regularly later in this series. This series is still in circulation. The 1 cent coin was withdrawn from circulation in 2004. The $10,000 and $10,000 note are the most valuable banknotes in the world (officially in circulation). [13] In August 2011, it was worth more than seven times more than the next highest value, the 1000 franc note.