Great Britain Pound Story

Pound sterling banknote is one of the strong currency in the market. Recently it price has been going down (today I check the price is RM5.16 ; Ringgit to Pound) because of the economic slowdown. The full, official name, pound sterling, (plural: pounds sterling) is used mainly in formal contexts and also when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is normally used. The currency name is sometimes abbreviated to just sterling, particularly in the wholesale financial markets, but not when referring to specific amounts; for example, "Payment is accepted in sterling" but never "These cost five sterling". The abbreviations "ster." or "stg." are sometimes used. The term British pound is commonly used in less formal contexts, although it is not an official name of the currency. A common slang term is quid (singular and plural).

There is some uncertainty as to the origin of the term "pound sterling". Some sources say it dates back to Anglo-Saxon times, when coins called sterlings were minted from silver; 240 of these sterlings weighed one pound, and large payments came to be made in "pounds of sterlings". Other references, including the Oxford English Dictionary, say a sterling was a silver penny used in England by the Normans, and date the term to around 1300. For more discussion of the etymology of "sterling" see Sterling silver.

The currency sign is the pound sign, originally ₤ with two cross-bars, then later more commonly £ with a single cross-bar. The pound sign derives from the blackletter "L", an abbreviation of Librae in Roman £sd units (librae, solidi, denarii) used for pounds, shillings and pence in the British pre-decimal duodecimal currency system. Libra was the basic Roman unit of weight, derived from the Latin word for scales or balance.

The ISO 4217 currency code is GBP (Great Britain pound). Occasionally, the abbreviation UKP is used but this is incorrect. The Crown dependencies use their own (non-ISO) codes: GGP (Guernsey pound), JEP (Jersey pound) and IMP (Isle of Man pound). Stocks are often traded in pence, so traders may refer to pence sterling, GBX (sometimes GBp), when listing stock prices.

Some of Pound banknote in my collection is old 1982 £1 pound and current £10 pound. £1 poundis in green color and using Sir Isaac Newton as a historical character. It also have a watermark of Sir isaac Newton. I have been reading that a new coin pound is been used to replace this pound and I still don't have any in my possesion yet.

For me, £10 pound is one of the most beautiful banknote in this world. I love the overall design of this banknote. The banknote is using Charles Darwin as the historical character. When I try to edit the front of this banknote, I keep having a reading error that bring me to this website Banknotes & Counterfeit Deterrence. Look like this banknote is one of banknote in this world that have been using counterfit deterrence system (CDS) and it has some rules and regulation on reproduction of this banknote.

10 pound security feature:

Metallic thread - the thread is embedded in the paper in every banknote. This appears as silver dashes on the back of the £10 note. If you hold the note up to the light, the metallic thread appears as a continuous dark line.

Watermark - hold the note up to the light and you will see an image of the Queen’s portrait. This can also be viewed from the back of the note.

Hologram - there is a hologram on the foil patch on the front of the £10 note. If you tilt the note, the image will change between a brightly coloured picture of Britannia and the number ‘10’.

Source: Wikipedia, bankofengland.co.uk

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Bermuda Triangle; from pound to dollar

Have you ever been reading about urban legend The Bermuda Triangle? The Bermuda Triangle, also known as the Devil's Triangle, is a region of the northwestern Atlantic Ocean in which a number of aircraft and surface vessels have disappeared or are alleged to have disappeared. Some people have claimed that these disappearances fall beyond the boundaries of human error or acts of nature. Bermuda have one of the most beautiful Queen Elizabeth II paper money in this world.

The Parliamentary British Colony of Bermuda, situated in the western Atlantic Ocean 660 miles (1,062 km.) east of North Carolina, has an area of 20.6 sq. mi. (53 sq. km.) and a population of 61,600. Capital: Hamilton. Concentrated essences, beauty preparations, and cut flowers are exported. Most Bermudians derive their livelihood from tourism. The British monarch is the head of state and is represented by a governor.

Bermuda was discovered by Juan de Bermudez, a Spanish navigator, in about 1503. British influence dates from 1609 when a group of Virginia-bound British colonists under the command of Sir George Somers was shipwrecked on the islands for 10 months. The islands were settled in 1612 by 60 British colonists from the Virginia Colony and became a crown colony in 1684. The earliest coins issued for the island were the ”Hogge Money” series of 2, 3, 6 and 12 pence, the name derived from the pig in the obverse design, a recognition of the quantity of such animals then found there. The next issue for Bermuda was the Birmingham coppers of 1793; all locally circulating coinage was demonetized in 1842, when the currency of the United Kingdom became standard.

The pound was the currency of Bermuda until 1970. It was equivalent to the British pound, alongside which it circulated, and was similarly divided into 20 shillings each of 12 pence. Bermuda decimalized in 1970, replacing the pound with the Bermudian dollar at a rate of 1 dollar = 8 shillings 4 pence (i.e., 100 pence), equal to the U.S. dollar. In 1914, the government introduced 1 pound notes. In 1920, 5 shilling notes were introduced, followed by 10 shillings in 1927 and 5 pounds in 1941. The 5 shilling note ceased production in 1957, with 10 pound notes introduced in 1964.

Prior to changing to the dollar, the Government of Bermuda had not issued its own coins, other than commemorative ones (the Bermuda Crowns), since the 19th Century, at the latest. In the 20th centuries, its pound notes were issued in all denominations (and the only coins used were UK ones). In 1970, the government introduced dollar notes in denominations of 1, 5, 10, 20 and 50 dollars. From 1974, the Bermuda Monetary Authority took over paper money production, introducing 100 dollars notes in 1982 and 2 dollars in 1988, when the 1 dollar was replaced by a coin. 1970 dollar notes are all printed with Bermuda Government across the top. Later notes substitute Bermuda Monetary Authority. In 2008, it was announced that banknotes would be redesigned in celebration of Bermuda's 400th anniversary, the first redesign since the launch of the dollar. The new designs were described as "distinctly Bermudian", with Queen Elizabeth II being relegated to a minor position. This new banknote will be out in 2009.

Source: wikipedia, Krause Publication

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AJMIR Sdn Bhd Money Changer, Jalan Tun H.S Lee

Last place I visit for my 17 January 2009 hunting trip is Ajmir Sdn Bhd Money Changer. Their shop is located at Jalan Tun H. S Lee, beside metro bus stop. It is also near Jalan Yap Ah Loy and Lebuh Pasar Besar where you can find Maybank and RHB bank. They were open everyday from 10.00 am until 7.00 pm everyday. You can contact Mr. Nawab at 019-2795555 or 03-20705555.

They have another shop just near this place and I only gone to this place twice. I don't realize I have been doing business with them for over 3 years now. Only realize that after looking at the banner in front of their shop. They have many old banknote for sale but mostly Malaysia banknote. On that day, they have one Brunei 100 ringgit for sale at RM300 price. They also have some Malaysia uncut banknotes sale at a bargain price (I don't collect uncut banknote). They also selling Malaysia RM50 commemorative Commonwealth banknote at RM120 which is cheaper then market price RM160. They also have 3 running number Malaya & British Borneo banknote (kapal layar) for sale at RM90 per piece.

I want to buy some of coin in their collection (world coins) but need to wait for the owner to come and bargaining the price with him. All the coin already put in their different continent and country in boxes and I can see some old coins in there. I am not keen on the waiting part and maybe will try to asked them again in my next trip there.

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Antique Shop-Syarikat Tai fat heng-Jln Tun H. S Lee

Some people may not realize that there is one antique shop that sell banknote and coin along jalan Tun H.S Lee. Syarikat Tai Fat Heng has been around for over 50 years. This shop is just so near to Central Market and Kotaraya building. It is also the same row as where Petaling Street or Chinatown should be. They open their shop everyday from 9.00 am to 5.00 pm.

This is my hunting trip on 17 January 2009. This shop Sell many antique coins at a bargain price then most antique shop I found in Kuala Lumpur. Last time I found many Strait Settlements coins in this shop but in this trip I can only find one strait settlement coin. I don't realize that this shop also have a medal for sale until I come back and look back at this picture. One of my frequent buyer is a medal collector. Maybe will be checking them out again on my next hunting trip.

I cannot see any banknote during my visit here. Last time, this shop got some Malaya & British Borneo rare banknotes up for grab. Since I am not the only one looking for banknotes & coins, I guess someone already buy them all. This uncle keep looking at the street every time I take his picture. I also forget to asked for their phone number and their name. If you want to visit this place, just remember to used the same road from Pasar Seni LRT Station to Petaling Street and keep looking at shop on your right.

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The Indonesia Rupiah story

The rupiah (Rp) is the official currency of Indonesia.Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. The symbol used on all banknotes and coins are Rp. The name derives from the Indian monetary unit rupee. Informally, Indonesians also use the word "perak" ('silver' in Indonesian) in referring to rupiah. The rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete.

The first paper money used in the Indonesian archipelago was that of the United East Indies Company, credit letters of the rijksdaalder dating between 1783 and 1811. Netherlands Indian gulden government credit paper followed in 1815, and from 1827 gulden notes of De Javasche Bank. Lower denominations (below 5 gulden) were issued by the government in 1919-1920 and 1939-1940, due to wartime metal shortages, but otherwise day-to-day transactions were conducted using coinage.Gulden notes were issued by 'The Japanese Government' during the occupation from 1942, becoming 'roepiah' in 1943.

The first truly Indonesian rupiah notes, however were issued in 1946, during the war of independence with the Dutch, following the unilateral declaration of independence by the Indonesians at the end of World War Two on 17 August 1945. This money is known as 'Oeang Republik Indonesia' ('oeang' being the old spelling of 'uang', in English 'money'). Following the negotiated peace treaty in The Hague of 1949, the 'ORI' was withdrawn, to be replaced by an internationally recognised 'Indonesian rupiah'.

The Indonesian rupiah has been subject to numerous devaluations, and in 1965 existing paper was withdrawn, replaced by a new currency at the rate of 1000 to 1.

The Indonesian banknotes have many series of banknote; Gulden/Roepiah banknotes, Republik Indonesia Serikat Money, De Javasche banknotes, Government banknote, Animal series, Birds series banknote, Handicraft series, Soekarno and Sudirman "the new rupiah". Will post some of the Indonesian banknote series next time.

Source: Wikipedia

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The People Republic of China "People Currency"; Chinese yuan (Renminbi)

The People Republic of China is located in Eastern Asia, has an area of 3,696,100 sq miles, including Manchuria and Tibet. Their capital is Beijing (Peking). The Communist People Republic of China was proclaimed on 2 September 1949. China emerged as independent center of Communist power in 1958. Upon the defeat of the Kuomintang & the establishment of the Peoples Republic of China, the communist government issued a new form of currency, the "Peoples Currency" or Renminbi as a replacement for all other notes in an effort to inject a stabilizing influence into the disorganized economy. People currency, Foreign Exchange Certificates and certain level or emergency issues are the only Forms of Paper money permitted by the communist government.

The fourth series of the renminbi was the series introduced between 1987 and 1997, although the banknotes were dated 1980, 1990, or 1996. Unlike the second and the third series, they are still legal tender. It features 14 person of China Various Communities.

1 jiao - 2 taiwanese men

2 jiao- Pu Yi & Korean Youth

5 jiao-Miao & Zhuang children

1 Yuan- Dong & Yao Youth

2 Yuan-Hygur & Ye Yin Youth

5 Yuan- Old Tibetan man & Young Islamic women

10 Yuan-Elder Han & Youthful Mongolian.

Han Chinese constitute about 92 percent of the population of the People's Republic of China and about 19 percent of the entire global human population. In Malaysia, there is about 6.5 million Han Chinese. Besides the majority Han Chinese, China recognizes 55 other "nationalities" or ethnic groups, numbering approximately 105 million persons, mostly concentrated in the northwest, north, northeast, south, and southwest but with some in central interior areas. Some famous Han Chinese are Sun Yat-Sen, Qin Shi Huang, Jackie Chan and Yao Ming.

Source: wikipedia & Krause Publication Standard Catalog of world Paper Money 1998.

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Banknote and coin collecting; for collection or investment?

Many of us like to keep something for an investment. Coin and banknote collecting is a hobby but many Malaysian nowadays join banknote & coin collecting just for investing. Most of them is a young teen who just started to have some job and don't know what to do with their money. Some of them looking for other kind of investment beside stock market, property etc. This is good for coin dealer like me but a bit sad story for my collector point of view.

Most people do collecting because of the historical significance the coin or banknote has. If you have read my later post Spanish coin; pillar dollar, on the pillar coin stated the words VTRAQUE VNUM which meant "both are one". An expression of Spain oneness with its colonies. Why do that coin been called as pillar dollar? Is this coin special or have a great history? This is a story that most collector like me is eager to know. For me, any banknote & coin collection have its own story to tell.

Some people do collecting coin and banknote because the looks and artistic beauty of that particular collection itself. I collect Bhutan banknotes as on my later post Bhutan Banknote; land of thunder dragon because of the thunder dragon picture on the banknote and the temple picture on top of a hill. It is also the same story for Suriname Banknote; land of birds. The beautiful birds picture in all Suriname banknote make me wonder if Suriname is known for its birds.

Many people do collecting because they start from circulation banknote and coin in their country. I am a Malaysian, that's why I collect Malaysian banknotes and coins. I collect any banknote and coin that related to Malaysia; Penang-coat of arms series, Sarawak, British North Borneo, Malaya & British Borneo and Straits Settlements banknote and coins. I still kept my first banknotes collection which is a Malaya and British Borneo $10 dollar or called duit kerbau because of the Buffalo on the paddy field. I bought them for RM30 and the price for this item is around RM200 right now. Some joy feeling that only collector like me can appreciate.

How about investment? What to look for if you want to invest in coin collecting? Investment is about risking your money and in the end you're hoping that your investment will give you profit, is it? The easy and safe investment is to collect silver and gold coin. Buy as many cheap silver coin you can find and keep it. Try to keep it for at least 5 years to make profit. The only thing you need to look for is how to test for Silver and Gold. Just consider that as a risk you need to learn and swallow during the learning process.

Some people gamble their money in buying and selling Iraq dinar which is not acceptable in some country yet. Their theory is that when that money is in circulation in the future, the price will goes up and everyone who buy them will be a millionaire. Good luck for everyone who invest their money in this scheme.

You also can check you banknote or paper money for replacement banknote. Replacement banknote is printed to replace a faulty banknotes and is a rare in circulation. You also can check for some rare Malaysia banknote and coin and read about it on my later post How to start collecting label. Tan Sri Ali Abul signature RM1 banknote and Malaysia 1971 10sen coin is some that is worth to invest for if you can get them at a cheap price. Some people also collect Freak banknote and coin and same prefix or different prefix solid number banknote.

If you like to do some investment in banknote and coin collecting in Malaysia, flea market and Money Changer shop is a good place to look for. I have been doing my hunting trips for my banknote and coin not because I want to invest but I don't like buying my items at an expensive price. Some banknote and coin dealer, do sale their item at a very expensive price then what the Standard Catalogue market value suggest. While some is selling them expensively because it is a running number banknote. I try not to buy my item from local coin dealer and do the hunting myself.

The new type of collector making collecting coin more adventurous. People who collect for investing will keep their item for a long time and thus making the value of some of coin and banknote increasing. What you want to do is your choice. Just make sure you have a good reference book about coin collecting and a book that you can easily bring to travel with you. They're many fake and scam coin and banknote out there. For collecting or for investment, both also have a risk of be cheated by a seller. Do check your investment wisely before you commit on them. Good luck.

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Malaysia Brunei & Singapore Banknotes & Coins (4th Edition) by K.N Boon

Malaysia, Brunei & Singapore Banknotes & Coins (4th Edition) by K.N Boon is one of the good reference Book for Malaysia banknote & coin. It is Published by Trigometric Sdn bhd which you can find at Amcorp Mall, Petaling Jaya. Their shop is just like you're walk in to a museum. All the banknotes is displayed in a glass wall. Amcorp Mall also held a weekly flea market on Saturday and Sunday as early as 8.00 am until up to 2.00 pm. At the Flea market, you can find banknote and coin dealar on the ground floor of Amcorp Mall.

This book come in 437 pages. Its cover almost all banknote & coin that been used from 1786 until 2008. I check some of old coin in that years hasn't been put in this book. For example kelantan and terengganu pitis or keping coinage, Duit ayam (singapore merchant token/coin) and any information regarding Brunei and Singapore coin (they only cover about their banknote not coin). It will be a great book if they have included all the coin and banknote from 1786 until 2008 in this book.

What I love about this book is the background information about each banknote and coin section. The information is written in Bahasa Melayu, English and Chinese. It isn't a complete information but at least they try to give their best informing their reader the history of that banknote or coin. For example, the story of Penang-coat of Arm series. I cannot find any good information about this coinage but this book give me a bit of information to enlighten me what to look for. Will put their story and what I found out about this coin next time.

Another thing is that the banknote grading table given in this book, for me is a good tool for newbie's to understand banknote grading. I type them again and put them on JPEG, You need to click them to view at its original size. It is an easy way to teach newbie's with this banknote table grading around. You just need to look at your banknote and look at some aspect of banknote like handling, paper, Holes, Tears, Integrity and folds.

Its coin in here is also in original size picture. The banknote and coin valuation is stated in Ringgit Malaysia and is a bit high then Malaysia banknote Standard Catalogue by Steven Tan. Beside the normal banknote value, they also have included a price for Malaysia solid number (same prefix and different prefix). I am not a fan of this kind of banknote but It will help to give a standard for this kind of banknote.

Some of banknote & coin celebrity picture I found via Wikipedia also can be found in this book. For me, this book is a good reference book, very informative and very handy in helping newbies to understand the true value of their banknote and coin. This book will add to my banknote and coin book collection and will be a helping hand for my blog.

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