BNM auction bidders should go to MNS Auction

Many non collectors who go to Bank Negara Malaysia (BNM) Banknote auction on September 27 did not realize there was another auction will be held the next day. Malaysia Numismatic Society Auction (MNS) No. 161 was conducted at Jabatan Muzium, Muzium Negara, Jalan Petalawati, Kuala Lumpur on September 28. The price realised in the MNS Auction is much lower compare to BNM Banknote Auction.

BNM auction bidders should consider to join Malaysia Numismatic Society Auction (MNS) and their future auctions because of the price and you can learn many thing from the members and society. In my opinion, the price realised in the BNM auction are over priced compare to real market price for Malaysia fancy numbers banknotes. The presence of many non collectors and some property investors in the BNM Auction has resulted a very high prices during the bidding.

MNS Auction No. 161 with Special Prefix notes:

Lot 32: Malaysia 3rd Series RM5 A/91 888888
Description:
Malaysia 3rd Series RM5 A/91 888888, signed by Ismail Ali's signature. AEF
Starting Price: RM1,500
Realised Price: RM2700

Lot 33: Malaysia 3rd & 4th Series RM1 P/13 222222 (AVF) & H/1 444444 (EF)
Description:
2 pieces notes, Malaysia 3rd & 4th Series 1 Ringgit, RM1 H/1 444444 (EF) signed by Ismail Ali, RM1 P/13 222222 (AVF) signed by Aziz Taha's
Starting Price: RM300
Realised Price: RM800

Lot 34: Malaysia 1st & 4th Series RM1 A/93 1000000 & Q/6 1000000
Description:
2 pieces notes, Malaysia 1st & 4th Series 1 Ringgit, RM1 A/93 1000000 (GF) signed by Ismail Ali & Q/6 1000000 (toned) (GF) signed by Aziz Taha.
Starting Price: RM200
Realised Price: RM2800

The Malaysian banknotes offered in MNS Auction are the old series notes, MNS has helped you to confirm the grade and the price are not too expensive. Those who bid in the auction also have many other choice and not everyone target the special prefix notes. Normally around 20 to 40 bidders who registered in the MNS auction compare to over 250 potential bidders in BNM Auction. Only members of the MNS are allowed to join the auction, you only need to come early and register as a MNS member.

Nowadays, many non collectors who think BNM banknote auction price is the market price for all Malaysia Fancy number notes. Market price was not as high as that or has not reached that level yet. If the market price does not change, it will took years for the BNM banknote successful bidders to sell back their notes because of the overprice. That does not include the grade of the notes itself, some notes with handling mark might get a lower grade but in the BNM Auction, the realised price are almost the same with other notes.

I am not a Fancy banknotes collectors but you can get KN Boon latest book to learn more about the market price of Malaysia Fancy notes.

You can read more about Malaysia Numismatic Society Auction (MNS) events and activity in their official blogger, Sifu Dickson Niew; dniewcollectors.blogspot.com.