Malaysia Bank Notes - Kuala Lumpur 98 XVI Commonwealth Games

Introduction

This limited edition of RM50 Commemorative Note was issued by Bank Negara Malaysia in co-operation with Sukom Ninety Eight Berhad on 1st June 1998 to commemorate the Kuala Lumpur '98 XVI Commonwealth Games. It was the first polymer banknote issued in Malaysia.

Gallery

RM50 (1998)

Note:

Obverse - Tuanku Abdul Rahman, the skyline of Kuala Lumpur (with the Petronas Twin Towers & Kuala Lumpur International Airport)

Reverse - Bukit Jalil Sports complex

Thai Banknote - The Queen’s 6th Cycle Birthday Anniversary

Introduction

To celebrate the auspicious occasion of Her Majesty the Queen’s 6th cycle birthday anniversary 12th August 2004, and honour Her Majesty’s kindness in dedicating not only her physical and mental energy but also her personal funds for the well-being of the nation and her people, the Bank of Thailand takes this opportunity to issue the 100 baht commemorative banknote to express highest gratitude to the Queen. The proceeds, after reduction of face value and cost, will be presented to Her Majesty for her royal cause.

Throughout the 54 years as the Queen, Her Majesty has been at the King’s side to perform royal duties, constantly providing moral support and tirelessly sharing all the royal responsibility. Many royal projects were launched by Her Majesty to relieve hardship of the people as well as to improve their standard of living. Under Her Majesty’s royal patronage and chairmanship, Foundation for the Promotion of Supplementary Occupations and Related Techniques, or SUPPORT, was founded. Many SUPPORT project centers were also set up throughout the country to provide training in artworks and handicrafts such as nielloware, gold, and silver handicrafts, ‘yan lipao’ basketry, and cloth-weaving namely Silk, Chok and Phrae Wa. Moreover, Her Majesty also pays special attention to the quality of SUPPORT products and often gives advice and encouragement for products improvement. Taking the lead in using SUPPORT products, Her Majesty also promotes the SUPPORT handicrafts both at home and aboard, thus helping to supplement farmers’ basic income as well as preserving the Thai cultural heritage.

Another major royal duty is preservation and development of nature resources and environment. Her Majesty initiated many projects such as the “Forest –Loves-Water” Project and the “Little House in the Big Forest” Project to rehabilitate deteriorated forests and conserve wild animals as well as to provided land and occupations for impoverished farmers. Others royal projects include the setting up of research station for breeding wild animals and marine turtles of various species.

Gallery

100 Baht (2004)

Note:

Obverse - Portrait of His Majesty the King in the uniform of the Supreme Commander of the Armed Forces and Charki Dynasty Royal Robe, wearing the Most illustrious Order of the Royal House of Chakri and the chain of Knight Grand Cordon (Special Class) of the Most Illustrious Order of Chula Chom Klao, and the portrait of Her Majesty the Queen in Thai Sivalai with tiara wearing the Most Illustrious Order of the Royal House of Chakri, Pendant of Dame Grand Cross (First Class) of the Most Illustrious Order of Chula Chom Kiao, and King Bhumibol Adulyadej’s Royal Cypher Medal (Rama IX) (First Class). Accompanying drawings are the King’s monogram in Thai letters “Phor Por Ror” and the Royal Garuda Emblem.

Reverse - Portrait of Her Majesty the Queen wearing tiara and Thai Chakri outfit decorated with the Ancient and Auspicious Order of the Nine Gems, and King Bhumibol Adulyadej’s Royal Cypher Medal (Rama IX) (First Class). Accompanying drawings are the pictures of the investiture ceremony of HM the Queen, the portrait of her Majesty holding the eldest daughter Princess Uboi Ratana, the picture of SUPPORT products, the pictures of elephants and forest, the Royal Crest Commemorating the Celebrations on the Auspicious Occasion of Her Majesty the Queen’s 6th Cycle Birthday Anniversary 12th August 2004, Thai art design, and the Rose “Queen Sirikit”, Cattleya “Queen Sirikit”, and Dona “Queen Sirikit”.

Malayan Bank Notes

Introduction

The dollar (Malay: ringgit, Jawi: ريڠڬيت) was the currency of the British colonies and protectorates in Malaya and Brunei until 1953. It was introduced in 1939, replacing the Straits dollar at par, with 1 dollar = two shillings four pence sterling (60 dollars = 7 pounds).

History

The Malayan dollar was issued by the Board of Commissioners of Currency, Malaya, with a hiatus during the Japanese occupation (1942–1945). During this period, paper money was issued in denominations in cents and dollars. This currency was fixed at 1 dollar = 1 Japanese yen, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the Malayan dollar regained their value relative to sterling.

In 1952 the board was renamed the Board of Commissioners of Currency, Malaya and British Borneo. The Board began issuing banknotes in 1953.

Bank Notes

1, 5 and 10 dollars notes were printed in the U.K. for circulation in Malaya in 1940. However, because a shipload of 1 and 5 dollars notes were captured by German forces, only the 10 dollars were issued. Because of the war in Europe, the Survey Department printed 10 and 25 cents for circulation. These were replaced in 1941 by notes printed by Thomas de la Rue in denominations of 1, 5, 10, 20 and 50 cents.

During the Japanese occupation, the Japanese government issued notes for 1, 5, 10 and 50 cents, 1, 5 and 10 dollars in 1942, followed by 100 dollars in 1944 and 1000 dollars in 1945. This currency was known colloquially as Banana money, a reference to the bananas shown on the $10 bill, and possibly also a scornful reference to Banana republics.

After the British regained control of Malaya, notes were issued in 1945 (dated 1941), in denominations of 1, 5, 10, 50, 100, 1000 and 10,000 dollars.

Gallery

One Cent (1941)

Five Cent (1941)

Ten Cent (1941)

Twenty Cent (1940)

Twenty Five Cent (1941)

Fifty Cent (1941)

One Dollar (1940)

One Dollar (1941)

Five Dollar (1941)

Ten Dollar (1940)

Ten Dollar (1941)

Fifty Dollar (1941)

One Hundred Dollar (1941)

Ten Thousand Dollar (1941)

Note:

Obverse - King George VI

Reverse - Coat of arms of the Federated Malay States (left), the Straits Settlements (centre top), and the Unfederated Malay States and Brunei (right).

First Bank Notes in the World

The use of paper money as a circulating medium is intimately related to shortages of metal for coins. In ancient China coins were circular with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money he had with that person. If he showed the paper to that person he could regain his money. Eventually from this paper money "jiaozi" originated.

In the 600s there were local issues of paper currency in China and by 960 the Song Dynasty, short of copper for striking coins, issued the first generally circulating notes. A note is a promise to redeem later for some other object of value, usually specie. The issue of credit notes is often for a limited duration, and at some discount to the promised amount later. The jiaozi nevertheless did not replace coins during the Song Dynasty; paper money was used alongside the coins.

The successive Yuan Dynasty was the first dynasty in China to use paper currency as the predominant circulating medium. The founder of the Yuan Dynasty, Kublai Khan, issued paper money known as Chao in his reign. The original notes during the Yuan Dynasty were restricted in area and duration as in the Song Dynasty, but in the later course of the dynasty, facing massive shortages of specie to fund their ruling in China, began printing paper money without restrictions on duration. By 1455, in an effort to rein in economic expansion and end hyperinflation, the new Ming Dynasty ended paper money, and closed much of Chinese trade.

Ming Dynasty notes are the earliest surviving paper money, of which the 1 Kuan is the most common. The note, 220mm x 340mm, is also one of the world's largest banknotes.

History of Bank Notes

Paper money originated in two forms: drafts, which are receipts for value held on account, and "bills", which were issued with a promise to convert at a later date.

Money is based on the coming to pre-eminence of some commodity as payment. The oldest monetary basis was for agricultural capital: cattle and grain. In Ancient Mesopotamia, drafts were issued against stored grain as a unit of account. A "drachma" was a weight of grain. Japan's feudal system was based on rice per year – koku.

At the same time, legal codes enforced the payment for injury in a standardized form, usually in precious metals. The development of money then comes from the role of agricultural capital and precious metals having a privileged place in the economy.

Such drafts were used for giro systems of banking as early as Ptolemaic Egypt in the first century BC.

The perception of banknotes as money has evolved over time. Originally, money was based on precious metals. Banknotes were seen as essentially an I.O.U. or promissory note: a promise to pay someone in precious metal on presentation (see representative money). With the gradual removal of precious metals from the monetary system, banknotes evolved to represent credit money, or (if backed by the credit of a government) also fiat money.

Definition of Bank Note

A banknote (often known as a bill, paper money or simply a note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative issues, coins are generally used for lower valued monetary units, while banknotes are used for higher values.