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.
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.
Primarily, money is the number one medium for all trade system of goods and services. Even in the virtual world, things that can be classified as money in case it is able to perform the major roles of money like medium of trade, stocks value, and the account unit. Knowing this, it is very evident that there are different money types available in history and earn an old coins and banknotes.
Four Major Types of Money
Here is a summary of the differences of each money type:
Money Type #1: Commodity Money
This type of money is the simplest and generally the oldest one. From the scarce resources, commodity money represents as a medium of exchange, stocks value, and an account unit. The barter system is where commodity money originates. Moreover, the barter system and commodity money operates in the same way in which either the goods or services can be exchanged for other goods and services as well. However, what’s note-taking with this type of money is that the intrinsic value of the commodity is its real value.
Gold coins, shells, beads, and spices are some of the examples of commodity money.
Money Type #2: Fiat Money
Unlike commodity money, fiat money’s value comes from the order of the government. It simply means that fiat money is defined as a legal note by the government which should be accepted by the people and the establishments of the country as a mode of payment. Failure to comply with this may be subjected to fine or imprisonment. Furthermore, the intrinsic value of the fiat money is relatively lower than to its face value. Also, the fiat money’s value comes from the connection of the supply and demand. This money type is generally utilized by most of the modern day economies. Coins and bills are the most common examples of fiat money.
Money Type #3: Fiduciary Money
Fiduciary money is not allowable as a means of payment by the government unlike the fiat money. Person who issues fiduciary money commits to exchange it for either fiat money or commodity money in case the recipient may request for it. Fiduciary money may include banknotes, cheques, or drafts
Money Type #4: Commercial Bank Money
The type of money that can be used as claims against financial establishments giving assistance, like that of the one handled by the bankruptcy attorney San Diego, is called as the commercial bank money. This money type can be utilized in exchange for purchasing the goods and services. Commercial bank of money is generally produced using the fractional reserve banking which is typically debt generated.
The division of the cryptocurrency for cannabis has never shorten out. There are generally few marijuana-based cryptocurrencies penetrating the weed stocks. Below are some of the cryptocurrencies that invade the cannabis market.
Weed Coins for the Cannabis Stocks
See here the list of the weed-based currencies that could be used to purchase cannabis items at https://www.stocktrades.ca/top-marijuana-stocks-cannabis-stocks/ and define the strong points and downsides of each. It also defines why Bitcoin market is volatile.
1. HempCoin (THC)
HempCoin is a cannabis currency that cater a reliable network currency. During 2017 when it transferred to the Komodo (KMD) blockchain, HempCoin gives positivity along the implementation of privacy processes and featured services. Running for five years in the cryptocurrency business, stakers can earn for almost 5% with this weed-coin system.
HempCoin has an ultimate goal of providing solutions for the absence of industrial hemp business banking and financial services.
2. CannabisCoin (CANN)
This weed coin cryptocurrency was planned to launched with its partner medical-grade cannabis items. CANN is the cheapest weed coin having a price rate of $0.01. Even if it reach its peak of $0.60, this rate would still be the cheapest rate of cannabis coin. The CANN became the first ever point-of-sale currency representations for marijuana-based purchases.
3. DopeCoin Gold (DOPE)
DOPE is both a cryptocurrency and a blockchain for the marijuana industry. The goal of this weed coin is to cater secure and technological way of doing cannabis business nowadays. DopeCoin Gold is considered as the front liner and the center in the payment mode for cannabis industry.
4. Paragon (PRG)
Paragon is the next in line monitoring software for cannabis sales depending on blockchain system. After its derailing by the SEC, PRG is very proud that it serves as the token included in the SEC. Moreover, it was also granted the chance to engage into this kind of marketplace.
5. PotCoin (POT)
Being included in the frontrunners in the crypto industry, the value of POT heightened to 8,471,366%. This cannabis coin make a relevant savings on the cost, security, and scalability. The PotCoin is a currency for buying marijuana paraphernalia at different online shops. One great scenario that get the publicity of PotCoin on the rise is the appearance of Dennis Rodman wearing PotCoin shirt.
6. Other cannabis-cryptos
• Budbo (BUBO) – another solution to fund the cannabis business using the blockchain system
• Tokes (TKS) – this serves both as a blockchain service and crypto payment option for marijuana business
• Cannation (CNNC) – this weed coin is recorded having the value of $1 trade volume within the YoBit exchange.
Since the introduction of the euro in 2002, you may wonder how much you have left in old guilders, francs and German marks. You may find old money in the attic that you have saved after a vacation. You may also own old coins or old notes as part of a collection. If you have in safekeeping old notes and coins, you may not need to take out a loan after all as you can actually earn from these very old notes and coins.
OLD DOLLAR BILLS WORTH MONEY
The value of old money depends on 4 factors. Read about it further below.
1. Money that Was Recently in Circulation
Do you still have Dutch banknotes from the time of the guilder? The value of old money from the time before the introduction of the euro is still the same. The best way to exchange that old money is at the Nederlandsche Bank. These old banknotes are exchanged for a value of 0.45378 euros per guilder. For an old 100-guilder note, you can expect around 45 euros. Unlike a money exchange office, De Nederlandsche Bank does not charge costs for exchanging old money.
Old banknotes from other euro countries can be exchanged at the central banks of those countries. Keep that in mind when you go on vacation to France, Belgium or Germany for example. Unfortunately, coins are no longer exchangeable in most euro countries.
At the moment there is still a lot of old currency dust to collect in attics and cupboards. There are millions of banknotes and coins that have never been returned.
2. The ‘Age’ of the Old Mint or the Ticket
Old coins and banknotes from 100 years ago are of course worth much more than the guilders or francs in circulation just before the euro was introduced. A medieval or Roman coin is so rare that it has historical value for collectors.
Does the old coin have a date? Then you know about how old he is. But until a few hundred years ago, coins usually had no date. Then you need an expert who can tell you where and when the coin was minted.
3. The Condition of the Old Money
Is the coin damaged or relatively intact? The older the coin, the greater the chance that it has been damaged by use or oxidation. If you find an old coin from hundreds of years ago that is still in good condition, then this coin has much more value.
4. The Rarity of the Currency or the Note
value of old money – selling the value of old money also depends on the number that still exists. Some coins or bills are old and in good condition, but not rare. It is possible that other collectors have the same type of coin or banknote. This can happen, for example, with coins and banknotes, many of which were made in the past when they were in circulation.
If you want to know the value of old money, you can ask a coin dealer, jeweler, or a gold dealer. If they are interested you can also immediately sell the old coins or notes. But it can also be wise to keep the old money. The value of old money is steadily increasing every year. Old coins or banknotes are a good long-term investment: you can easily keep them, they are portable, and you can sell them at any time. That makes old money a stable and liquid investment.