Bank Negara Malaysia (BNM) has released a statement via their Facebook page that the Malaysia Gold Foil banknotes are prohibited under the Central Bank of Malaysia Act 1958. This is due to the sale of the various denomination (especially RM100) of the Ringgit Malaysia notes gold by public.
Many of my have asked me before about this banknote but I don't reply because I try to focus on coins and in my opinion they're many BNM staff who already knew about this because I can see some of them in the Facebook group which sell the gold foil Malaysia Ringgit. I also think and believe many Malaysian already knew that the notes are fakes (not officially produce by Bank Negara) and it is a waste of money to buy the gold foil notes. When one of my blog reader ask me to give my opinion again about the notes, I agree to share my opinion in Facebook.
I was a little bit surprised when many of my readers who share and talk about the notes believed that Bank Negara Malaysia has produced the notes as a commemorative banknotes.
A few hours later, Bank Negara Malaysia released their statement in Facebook about the fake notes:
This is in reference to the "Gold Plated Ringgit Malaysia" being sold to members of the public through various online platforms and websites.
Bank Negara Malaysia would like to state that the act of reproducing any Malaysian currency notes and coins, or using any photograph, drawing or design resembling any Malaysian currency note or coin, in any advertisement, merchandise or products without the express permission of Bank Negara Malaysia is prohibited under the Central Bank of Malaysia Act 1958.
Bank Negara Malaysia views this matter seriously and urges all parties including members of the public not to participate or be involved in any sale and purchase of the "Gold Plated Ringgit Malaysia".
I am surprised because if you try to google "Malaysia gold foil Ringgit" or "Malaysia gold banknote" and look under the images section of the Google search, you can easily find where do the people actually buy the notes. The dealer in Malaysia buy them for a few cents and sell them to their customer for around RM40 a piece.
These cheap gold foil notes can easily damage and will be damaged after certain period.
In my opinion, Bank Negara Malaysia should monitored the selling of coins and banknotes in the market itself. Maybe go to Amcorp Mall flea market once a while to look for prohibited items which is being sold in the market. Fake old ringgit notes, fake 10 sen 1971 and also some fake commemorative coins are already in the market nowadays. For new collectors, they think that the fake things might not be forbidden since it has been sold for many years in the market.
To all Malaysia Gold Foil banknote sellers you need to remember, banknote images are subject to specific rules governing reproduction, which vary by country. It is an offense to sell fake notes in Malaysia which you can be fined or jailed.
