Old is gold! And sometimes it can be more precious than gold itself. Take old Malaysian Ringgit coins and notes for example. While these notes and coins are no longer in production, they are still very much in demand.
So if you reckon yourself a coin-collector, this is great news for you. But it is not an easy thing to do given that the world has started to realize the true potential of these currency notes and coins. Let’s look at some of these old, but not forgotten notes and coins.
1 Ringgit Coin
1 Sen Coin
The 1 Ringgit Coin originated in 1971 was redesigned in the year 1993. After more than 30 years of its inception, during the year 2005, the coin was withdrawn from the market. But the coin still holds a value in the market. The current value of this coin in the market is up to RM180.
This small copper and bronze clad steel coin was withdrawn from the market in order to cut the cost of making. The coin’s production used to cost around 4.2 Sen per coin. Since its exit, the coin’s value had just been soaring higher and higher. The current market predictions suggest that the value of this coin can be as high as RM1,800. A Sen Coin produced in 1976 now holds a value of more than a thousand Ringgits as the market believes that there are as low as 100 such coins existing today.
2 Ringgit Banknote
A 2 Ringgit Banknote is one of the rarest and most-valuable notes in the market today. One of the most expensive line of this note is the one that bears the signature of Governor Tan Sri Dato’ Ahmad Bin Mohd Don, the fifth Central Bank Governor. Though the market predicts that this note holds a value of up to RM4,000, the recent studies have shown that these notes have been sold for up to RM50,000 online.
Commemorative 50 Ringgit Banknote
This note was issued during the Commonwealth Games of 1998 that was hosted by Malaysia. This polymer note was issued in a limited quantity of 500,000 pieces. Today, the note holds a value of up to $300 in the market.
Factors affecting the current value of these notes and coins
The current market value of these coins and notes may depend upon the following factors:
Age of the coin or the note
The trend has shown a pattern that concludes that the older the note or the coin is, the more is its current market value.
Condition of the coin or the note
If the currency is worn or the colour has faded, its current value gets affected.
Serial number of the currency
It has also been noticed that some notes have more value than the others because of the serial number on them. Serial number patterns like 1111111 can hold more market value than other serial number patterns.
Rarity of the currency
The current market value of an old currency note also directly depends upon the rarity of the line of coins and notes.