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Monthly Archives: July 2020

The Value of Old Coins and Banknotes on Singapore

  • The Orchid series of Singaporean money notes is included in the country’s first currency circulation. Initially, they were launched in 1967. But, how much is this old currency of Singapore really worth? Do they still have value these days?

    How to know the Value of Old Singapore Notes

    Generally, there are several factors that need to be considered to determine the value of old Singapore notes to have maximum value. Check the following factors below:

    Age of notes

    If you hand an old Singapore note, then lucky for you. Moreover, the older it gets the better for you because it gets more value. Example is the Malaya and British Borneo dollar which are both currencies of Singapore, Malaya, Brunei and Borneo before the independence day of Singapore in 1967. These currencies have $10 notes which have a value of $1,068 today.

    Available in running serials

    Most collectors of coins and different banknotes, it is always better for them to have the full set of the running series. However, this is very rare to find like the old Orchid Series. Yet, it has a face value of $191 which could be sold for a price of $1,200. Also keep in mind that the running serials will also call for a higher price value too.

    Coins and banknotes condition

    Basically, when you have Singapore coins and banknotes that are in good condition they always call for a higher price. Usually, those that are uncirculated or have really no damage in handling like folds, cuts or stains have great value. Also add to this the running serial numbers of the uncirculated banknotes which gives extra worth. They will actually get a 90% increase on its worth.

    Banknotes paper grades

    Usually, collectors want to have banknote collections that have high quality grade of banknotes paper. Typically, it is graded by the Paper Money Guaranty or PMG.

    Paper Money Guaranty or PMG is a third-party service of paper money grading.

    Remember, in order to make your old banknotes to have value, it must be graded and sealed. Moreover, it should also be certified to increase their value. 

    Example is a Singapore banknotes Bird Series that have PMG grading. Its ordinary value is $186. But, mind you, the asking price is $3,680.

    Rarity

    The rare the denominations, the greater worth it gets. Actually, there are even rare coins that you wouldn’t believe will make you rich. For example is a $25 Orchid series note which is actually a rare one. The ungraded one for this series worth $105.