If you have some old banknotes and coins lying around your house, don’t throw them. Keep them because they could be rare ones that are worth hundreds or even thousands of ringgit!
In recent years, many Malaysian are scouting for old coins and banknotes. Besides, there are now many Facebook groups and blogs on Malaysian banknotes and coins. Old coins and banknotes have become popular among investors as the returns are rather promising. Certain banknotes and coins are worth a lot more than the actual face value of the monies. For instance, old and rare notes could fetch between RM10,000 to RM50,000.
RM1 note worth RM1,000
Did you know a single old RM1 note worth RM1,000? Of course, it only applies to certain RM1 notes and the note should be in mint condition. This valuable note is known as “RM1 Aishah” or RM1 Aisyah” – one of the very few RM1 that is signed by Governor Tan Sri Ali Abdul Hassan, the 6th Governor of Bank Negara Malaysia (BNM) from September 1998 to April 2010.
What makes it valuable? The RM1 note signed by Tan Sri Ali Abdul Hassan was released to the market by mistake during the transition period of Tan Sri Ali Abdul Hassan and Tan Sri Zeti Aziz as the governor of BNM. The note signed by him was accidentally released by BNM Penang as they did not receive the order to stop using the RM1 as compared to other BNM branches in Malaysia.
After realising the mistakes, all RM1 notes signed by him were withdrawn and completely destroyed. It is estimated that only 50,000 copies of RM1 signed by Tan Sri Ali Abdul Hassan were accidentally released to the market. So if you have a RM1 note signed by him, you could be RM999 richer.
RM2 note with the signature of Governor Tan Sri Dato’ Ahmad Bin Mohd Don could be worth RM4,000
Remember the old RM2 note that is issued in the year 1996? This note is worth so much more and all ringgit collectors are dying to keep it. The RM2 note with the signature of Governor Tan Sri Dato’ Ahmad Bin Mohd Don could be worth RM4,000! It is no doubt that this banknote is dubbed one of the most wanted pieces by collectors.
Commemorative RM50 banknote
In 1998 when Malaysia hosted the Commonwealth Games, BNM issued a limited edition RM50 polymer banknote. The banknote was produced in a limited quantity of 500,000 pieces. The RM50 banknote was sold as a collector’s item in packaged folders for RM80 per piece.
Now, the value of the limited edition RM50 banknote has gone up to RM1,224 per piece. The value has gone up approximately 4.5 times its original face value.
Some old coins can be worth up to RM1,800
Most of us prefer not to use coins anymore as it’s hard to keep in the wallet. However, some coins have managed to develop a higher value due to their collectable value. Some 1 cent coins are worth from RM2 to RM1,800 depending on the year and condition.
Besides, the RM1 coin that was introduced in 1971 has a higher resale value in the collector’s market. The RM1 coins still fetch a good return of up to RM180. Collectors claim it is difficult to get genuine ones as there were fake coins in the market – hence the possible reason why its value did not skyrocket the way the 1 cent coins did.
An article released by FMT dated October 2021, reported a 2007 special edition RM50 note was sold for a whopping RM708,000 at an auction. According to Hann Boom, the director of Trigonometric Auctions, all these notes were bought by numismatists 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 told FMT.