fbpx
30.8 C
Kuala Lumpur
Thursday, May 26, 2022
HomeSocial NewsSpecial Edition RM50 Note Sold For RM708,000 At An Auction!

Special Edition RM50 Note Sold For RM708,000 At An Auction!

A special edition RM50 note which was printed in 2007 was sold for RM708,000 at the Trigometric Auctions this year!

According to Trigometric, the note has a ‘0000001’ serial number with the prefix ‘AA’ and it was being sold to a mysterious buyer.

It is said that the note is a commemorative issue for the 50th anniversary of the independence of Malaysia.

Meanwhile, Trigometric also revealed that the special edition note with the serial number ‘7’ was sold to someone in Singapore, while serial number ‘9’ belongs to Tun Abdullah Ahmad Badawi.

Source: FMT

This information comes after a report by The Star in 2007, saying that the Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz presented the note with the serial number AA0000009 to the fifth prime minister.

Nonetheless, Trigometric said that with the current information available, the top ten numbers were all given to high-ranking state officials, such as Sultans and the Agong.

It is also said that the special edition has yellow edges, while the others have grey edges. In addition this special edition features a 50th anniversary logo, which bears the number ’50’ in colours of the Jalur Gemilang.

In an interview with FMT, Trigometric Auctions director, Hann Boom said these notes were bought by numismatists, probably as an investment.

“They might keep it for some time and re-enter the market later and sell it for a higher price. The RM50 note was a special edition issued in conjunction with the 50th anniversary of Merdeka.” he said.

Meanwhile, at another auction last week, a 1929 Sarawak $25 note was sold for RM212,400, while a 1940 Malayan $1 note issued during the British administration was sold for RM188,800.

FMT also reported that the auction made a total sale of RM8 million from about 700 purchasers.

Commenting on the Sarawak note, Hann said there were only 15 of such notes in the world, with 9 already graded by an independent company based in the US and another was graded by a Chinese-Malaysian firm. The remaining 5 are being held by private collectors and have to surface in the market.

Source: Facebook

“We send the coin or notes to this company who will assess and grade them accordingly.”

“The price is also dependent on how the owner has stored it. It’s kept encased to ensure it does not come into contact with oxygen or any other things that can damage the notes.” he said.

Hann said that there are only about 20 serious numismatists and 600 casual collectors in Malaysia and they often buy these notes with the hope of selling them much later on.

“The Malaysian market is one of the smallest in the region as the appreciation happens over time. It can be a hobby but can eventually turn out to be one that can be used to make huge profits.” he said.

The upcoming auction of the same kind is set to be in January next year.

Leave a reply

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments