FIRST BANKNOTES AUCTION BY BANK NEGARA - WHO ARE THE BUYERS ?

"Who are the buyers" ? .....  everyone was asking and was curious to know who they are. The winners of all the solid numbers, low numbers, ladder numbers banknotes from the auction was won by unknown persons. The one and only local Malaysian dealer that won from the auction is Mr.King from King Banknotes for the note "RM100 AA 6666666" for the amount of RM23,000 (include buyer's premium 15%). And none other Malaysian dealers able to win anything and went back empty handed and were flabbergasted with the price that has gone to the unchartered territory and history was created in the Malaysian banknotes record. This auction has set a very high benchmark for solid numbers, low numbers and ladder numbers for future auctions. And certainly the past series banknotes of all special numbers are set to surge dramatically.

The local numis scene was abuzz with curiosity as to whom the buyer's identities. There were speculations they are from the property and construction developers came to support the auction to make an impact on Bank Negara Malaysia inaugural auction. These buyers are non-collectors and they are unknown to the numismatics industry however they sure know how to make an impressive introduction of themselves by acquiring the whole auction of RM1.34million realized price.

With the strong demand by collectors and high prices set for Malaysian modern banknotes that has also created awareness and attracted worldwide collectors's attention that previously had shun because of our small economy scale but now interests and attention are focusing on the Malaysian numismatics.  

Happy reading.

Andrew

FIRST BANKNOTES AUCTION BY BANK NEGARA MALAYSIA REALIZED PRICE

Please take note that - FIRST BANKNOTES AUCTION BY BANK NEGARA MALAYSIA REALIZED PRICE was taken down by the administrator for copyrights infringement that i was not aware that i have committed a violation and i sincerely apologize for my mistake.

If you want to know the full realized price for the auction you can view it at MNP auctioneer's website.






The realized price for the low numbers, solid numbers, super solid numbers, and ladder numbers for all the denominations from the current 12th series has brought very strong interests from collectors.

Bidders came from Brunei and Singapore besides our fellow Malaysians were hotly bided and sent the prices to the level of unchartered territory. 

The high lights are those solid numbers of all denomination with the first prefix "AA" because it was the first prefix and the same interest goes to the polymer notes RM1 & RM5 solid numbers, low numbers because they are scare compare with paper notes and the same goes to the super solid numbers for all.

Prior to the auction everyone thought the price of solid numbers and low numbers for the past issues would fall because Bank Negara Malaysia are going to auction the notes thus everyone were freaked out and sold them cheaply to the market. Because these collectors had tasted some bad experience with Bank Negara Malaysia when they took out the old coin cards like the Hoki issued in 2002, Songket 2006 and the most recent one Bandaraya Shah Alam issued in 2000 and sold it at Sasana Kijang at issue price resulting the fall in market price.

(Note: Shah Alam coin cards were not sold at Sasana Kijang but was taken out from the inventory and sold by an "insider" and was offered to all the dealers thus resulting the price to fall from RM650 to current level at RM200 each and slowly going down.....).

The whole auction was realized at RM1.34 million.


Happy Reading.

Andrew

1941 MALAYA BRITISH ADMINISTRATION KGVI 12 PIECES CONSECUTIVE NUMBERS

I was so happy to have received such a good grade for my 12pieces $1 Dollar King George VI from PMG today. I'm sharing with you the unboxing from PMG and of course there are many others Straits Settlements, Malaya and Malaysia banknotes inside the box besides the 12 pieces. But i dont have the time to show all to you.

PMG population report for 1941 $1 Dollar Malaya British Admin KGVI as at today 18/09/14 are as follows :-

1)PMG 58 = 28pcs
2)PMG 58EPQ = 96pcs
3)PMG 63 = 6pcs
4)PMG 63EPQ = 8pcs
5)PMG 64 = 84pcs
6)PMG 64EPQ = 82pcs
7)PMG 65EPQ = 95pcs
8)PMG 66EPQ = 77pcs

9)PMG 67EPQ = 7pcs only (I already obtained 3pcs 67EPQ out of 7pcs and is the highest of all)

10)PMG 68EPQ = NONE !
11)PMG 69EPQ = NONE !
12)PMG 70EPQ = NONE !

Happy viewing.

Andrew

MALAYSIAN INTEREST IN PHILATELIC ARE DECLINING

PENANG STAMP FAIR 13TH - 16TH SEPTEMBER

The reason for the Malaysians philatelic interest are declining because POS Malaysia kept reprinting commemorative stamps when the initial mintage ran out of stocks.

Back to the years before POS Malaysia was privatized about a decade ago when the entity was fully owned by the Malaysian government the interest in philatelic was very strong among avid collectors. Long queues can be seen lining up the street from POS Malaysia during the first day of launching of commemorative stamps. During those days it has limited mintage between 20,000pcs to 50,000pcs of commemorative stamps being printed and once sold out it was never reprint again and there were strong secondary market for these stamps.

After POS Malaysia been privatized and listed on the stock exchange in Bursa Malaysia everything changes and "profits" was the main priority. Before the date of launching new stamps to mark an occasion POS Malaysia will announce that they will print limited numbers of stamps only (eg: 20,000pcs) to create a rush of demand to the public and once they have sold out the commemorative stamps on the first day POS Malaysia will secretly reprint the stamps again. 

Reprinting stamps is like printing money and that is very easy to make huge profits for POS Malaysia. For instance once you buy a single piece of RM5.00 stamp and kept inside your stamps album POS Malaysia has profited 100% gain from you ! Just imaging the profits of POS Malaysia when the whole nation stamp collectors bought commemorative stamps from POS Malaysia. It is huge and easy money been made !

However this practice of reprinting was uncovered and has irked the collectors and people has loss interest big time in philatelic and now you can go to POS Malaysia main office to buy those yesteryear series still available at face value. POS Malaysia does not understand that once you lose the secondary market people have loss the interest in philatelic and also the collectors.

Stamps collectors has switched interest to Numismatics - Banknotes and Coins collection. This is one of the many reasons that have contributed into the rise of Malaysian numismatics.

Shame on you POS MALAYSIA !

Only a handful of people came to visit the stamp fair.

POS Malaysia counter selling those yesteryear series and personalized stamps.

Happy Reading.

Andrew

FIRST BANKNOTES AUCTION BY BANK NEGARA MALAYSIA

Date : Saturday, 27 September 2014

Session 1 - 10.00 a.m. - RM1 & RM5 Banknotes
Session 2 - 11.30 a.m. - RM10 & RM20 Banknotes
Session 3 - 12.30 p.m. - RM50 & RM100 Banknotes

Venue  : Auditorium, Sasana Kijang, Bank Negara Malaysia, Jalan Dato’ Onn, 50480 Kuala Lumpur.

Registration : 9.00am onwards

Demonstration and Understanding of Banknote Auction Process. Light refreshment will be served.

Public Viewing :  MNP’s Kuala Lumpur Office. Thursday, 18 September 2014, 10.00 a.m. to 2.00 p.m.

MNP’s Penang Office. Saturday, 20 September 2014, 10.00 a.m. to 2.00 p.m.

Initial Deposit : RM300.00

Buyer's Premium : 15% to be payable in addition to the hammer price.
Successful bidders must collect the Lots from MNP’s Kuala Lumpur Office
within seven (7) working days from the date of auction.

Auctioneers : MNP Auctioneers

This will be the first ever banknotes auction held by Bank Negara Malaysia. The lots of banknotes to be auctioned are the present Malaysia 12th Series paper and polymer notes for all the denominations from RM1, RM5, RM10, RM20, RM50, RM100 for :-

“Single Ladder”
The more commonly known combination of serial numbers, e.g EG 1234567. Whereas “Super
Single Ladder” simply means the alphabetical prefix in the front is the same, e.g FF 1234567.
“Reverse Single Ladder” just means that the combination of numbers are in reverse, e.g
EG 7654321 and with the same alphabetical prefix it would be called “Super Reverse Single
Ladder”, e.g FF 7654321.

“Low Numbers”
These are serial numbers typically with either single or double digits at the back of the sequence, e.g
AB 0000001 or AB 0000010. However, if the alphabetical prefix in the front is the same, it will be
considered as “Super Low Numbers”, e.g BB 0000001 or BB 0000010. The more sought after
numbers are typically the numbers with single digits at the back of the sequence, which when
available in a set of 10 pieces, fetches an even higher demand. This combination is known as
“Set-of-10”, e.g AB 0000001 to AB 0000010.

“Solid”
A combination of serial numbers where all the numbers are the same, e.g AD 8888888. Higher
demands have been recorded for the “Super Solid” which has the same alphabetical prefix in the
front, e.g CC 8888888.

“Ten Million”
This particular note is said to fetch a very high demand amongst collectors due to its uniqueness. The
typical Malaysian banknotes denominations have only seven digits, but this has eight digits, e.g
AA 10000000.

This auction is good for all collectors to have the chance to obtain these special numbers through auction that open to the public, otherwise these special numbers and prefixes are being monopolized and controlled by "certain people" that have "close relations" with the bankers therefore they are the ones that control the prices.

Now everyone stand a chance......

I would like to say "Syabas to Bank Negara Malaysia" !

Happy Reading !
Andrew

MALAYSIAN COLLECTORS VERSUS SPECULATORS

During the good times when the stocks exchange were making new highs almost every week easy money were make from the stock exchange and everyone were more generous in spending money in numismatics thus driving up the prices. Those non collectors were attracted with making fast and easy money also jumped into the numismatics band wagon and became collectors or speculators and everything rises. Numismatics are more tied to the economy or level of discretionary income and everyone were happy with the hobby while speculators kept speculating and push up the prices and collectors were delighted with their increasing value of their collections. What hobby are more rewarding than numismatics huh ?

What happen to the "numismatics economy" during slow months ? Numismatics do share some common similarity with the stock market and that makes it more interesting to be in this hobby. It has the speculators and collectors that kept vintage and expensive banknotes/coins (blue chips in the stock exchange) and it has its up and down trend too.

During the slow months speculators that unable to hold on their inventory of banknotes/coins (mostly are modern replacement notes) will liquidate their stocks thus flooding the market and weaken the prices. And those small time speculators follow suits to cut-losses afraid the prices will drop further and this has caused a chain-reaction to other speculators too. The greatest impact were on modern replacement notes but nevertheless the negative environment also affect other vintage notes too.

Whereas the "smart money" will come pouring into vintage notes/coins from the collectors because they knew that is the best time to buy when everyone are selling and rare notes/coins will surface during bad times and in contrast it was very hard to find rare vintage notes/coins during good times because collectors held them tightly in their collections and they does not need money.

So you ought to know the timing when you should buy and certainly you dont buy when everyone are buying along side with you.


Below here are only some of the selected few of my banknotes which came back from PMG recently.

Happy Reading !