50 years ago today, S’pore issued its first series of currency
This series featured orchids.
Fifty years ago today, on June 12, 1967, the Board of Commissioners of Currency Singapore (BCCS) was established following the enactment of The Currency Act of 1967. The BCCS allowed for Singapore to print the Singapore Dollar and Singapore’s new currency was issued.
This currency was to be fully convertible to a foreign currency at a fixed exchange rate.
The first series of notes ever produced was the Orchid series.
The reverse side of each note included elements of Singapore’s national identity, such as the Singapore River representing Singapore’s beginnings as a port and four clasped hands representing racial harmony.
Subsequently, there were also other series such as the bird, ship and portrait series. The portrait series featuring Yusof Ishak is the current series of notes. All the series are legal tender.
These old banknotes are sometimes collected by avid collectors.
According to Today, the monetary value of banknotes is dependent on “rarity, age, condition and whether a note contained a special serial number”.
For instance, the $5 note from the Orchid series bearing Goh Keng Swee’s signature is very rare and its value can go up to S$1000.
To many of these collectors, possessing such banknotes go beyond its monetary value. The notes are often seen as art collectibles offering a glimpse into Singapore’s history.
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