brief overview on Singapore's currency history...
(please refer to historical records from official source for precise information.)
Singapore was a British
Colony from 1819 until when British troops surrender to Japan during WWII in 1942.
After the end of Japanese Occupation in 1945, Singapore became a British Settlement once more until 1963.
Singapore became part of Malaysia on 16 September 1963 following its merger with the Federation of Malaya, Sarawak and North Borneo (Sabah) to form the Federation of Malaysia.
Two years after breaking away from Malaysia on the 7 April 1967, the Singapore has its own currency.
The banknotes that Singapore has been using (in general, before the Singapore Dollar) were the Straits Dollar, Malayan Dollar, Japanese Government-Issued Dollar (Banana Money), Sarawak Dollar, British North Borneo Dollar and Malaya And British Borneo Dollar (may not be in chronological order).
Orchid Series Banknotes
The Orchid Series of currency notes is the earliest to be in for circulation in Singapore. Issued in the years 1967 to 1976, it has nine denominations: $1, $5, $10, $25, $50, $100, $500, $1,000, and $10,000.
Each note has an orchid design in the center of the note's front, the orchid being the national flower of Singapore. A scene of Singapore is depicted on the back, which varies across denominations. Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have at least one vertically embedded security thread, while the $10,000 note has two.
Facts
The blocks of flats that features on the reverse of Orchid series $1 is situated at Tanglin Halt.
The busy scene on the Singapore River that features on the reverse of Orchid series $5 versus today's.
The Supreme Court Building that features on the reverse of Orchid series $25 versus today's.
The Clifford Pier that features on the reverse of Orchid series $50 versus today's.
The Government Office that features on the reverse of Orchid series $500 versus today's City Hall, Singapore.
The Victoria Theatre that features on the reverse of Orchid series $1000 versus today's.
The Istana that features on the reverse of Orchid series $10000 versus today's.
Bird Series Banknotes
The Bird Series of currency notes is the second set of notes to be issued for circulation in Singapore. Issued in the years 1976 to 1984, it has nine denominations, the same number as in the Orchid Series, albeit the $25 note was replaced by the $20 note.
Each note features a bird on the left side of the note's front, a theme selected to represent a young Singapore "ever ready to take flight to greater heights". Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have a vertically embedded security thread, while the $1,000 and $10,000 notes have two.
National Day Parade @ The Padang that features on the reverse of Bird series $1 versus today's.
Cable cars and aerial view of the harbour that features on the reverse of Bird series $5 versus today's.
Ship Series Banknotes
The Ship Series of currency notes is the third set of notes to be issued for circulation in Singapore. Issued in the years 1984 to 1999, it retains the number of denominations as was in the previous two series of notes, but switches the $20 note for the $2. The original $2 was printed in red but was changed to purple at a later stage due to mistaken as a $10 by the public confused by the similarity in colour (not officially announced).
A maritime theme to reflect Singapore's maritime heritage was adopted, and progressively shows across the various denominations, the different kinds of ships which have plied Singapore's waters as the country developed. These vignettes are located on the front of the note. On the back, various scenes depicting Singapore's achievements are shown, as well as an orchid, to symbolise the country's national flower.
Standard on each note, is the Coat of Arms, a lion head watermark, and the signature of the Minister for Finance and chairman of the board of Commissioners of Currency, Singapore, on the front of the note. As an added security feature, all notes have a vertically embedded security thread.
The Public Housing that features on the reverse of Ship series $10 is still situated at Hougang today.
Portrait Series Banknotes
The current Portrait series was introduced in 1999, with the $1 and $500 denominations omitted. These notes feature the face of Yusof bin Ishak, the first president of the Republic of Singapore, on the obverse, and the reverse depicts a feature of civic virtue.
There are both paper and polymer notes in circulation. The designs of the polymer notes are very similar to the corresponding paper note except for the slightly slippery feel and a small transparent window design in the corner of the banknote. Polymer notes are progressively replacing the paper banknotes in circulation. The notes also have Braille patterns at the top right-hand corner of the front design.
Facts
The Tembusu tree that features on the reverse of current Portrait series $5 (both paper and polymer) is still situated at Singapore Botanic Gardens today.
Singapore issued its second polymer
note, a $10 on 4 May, 2004. This note, like the existing paper $10 of the Portrait
series, features the portrait of Singapore's first President, the late Encik
Yusof bin Ishak. This is also the first polymer note issued by MAS as the previous
polymer $50 note was issued by BCCS before both merged in 2002.
10 Million notes were issued for this
initial issue, in its announcement the MAS indicated that "more polymer
notes will be issued subsequently", which came the polymer $2 in 2006 and
polymer $5 in 2007.
The
chairman of the MAS (after merger) is then DPM Lee Hsien Loong, he was holding
this appointment for a short period thus banknotes with his signatory are
relatively lesser then others. Only the paper $2, $5, $10 and $50 denominations
and the polymer $10 carries DPM Lee Hsien Loong’s signatory.
The MAS has discontinued issuing of
the $10,000 note from 1 October 2014 and $1,000 note from 1 January 2021. Both existing
$1,000 and $10,000 notes in circulation will remain legal tender, banks can
continue to recirculate existing notes that are deposited with them. However, it
is expected the stock of such notes to dwindle over time, as worn notes are
returned and not replaced.
Commemorative Banknotes (General Circulation)
The first commemorative banknote for general circulation was released on 24 July 1990 to celebrate the 25th anniversary of Singapore's independence. Of the 5.1 million pieces of $50 polymer banknotes issued, 300,000 came with an overprint of the anniversary date "9 August 1990".
This $50 note was the first commemorative note issued by the Board of Commissioners of Currency, Singapore (BCCS) and was also the first polymer banknote in the history of Singapore's currency. In addition, the $50 note was the first note designed in Singapore by a Singapore artist.
Facts
Singapore was the second country to issue a polymer note, the Singapore's first polymer commemorative note was a $50 issued on its 25th Anniversary of independence on 9th August 1990.
This note generated much hype then, attracting much public interest associated with Singapore’s 25th Anniversary celebrations. A limited-edition commemorative version of 300,000 mintage that came with a customised folder was also issued, these came with "A" prefix and independence anniversary date, 9th August 1990.
Another eight prefixes (B – J) were used to produce the 4.8 million (known records) circulating notes. Banknote collection societies, citing official records that Prefix J was used as Replacement notes.
Much difficulties were encountered in the production of the polymer notes, probably due to the immature technology then and the Optically Variable Device (commonly known as hologram). There was a high rejection rate in the production process, eight prefixes which is enough to mint more than 7 million notes, were used to produce the 4.8 million circulating notes.
Another concern discovered during the circulation of these notes was damages to the holograms. When the note is folded, the fold catches the hologram, besides causing damages it also de-faced the portrait of President, Encik Yusof bin Ishak in it.
Handling of polymer banknotes was also not ideal as public feedback polymer notes tends to stick to one another more compared to paper notes, this has not significantly improved though till today.
It is also believed that BCCS was having this intention to trial out the technology for producing polymer banknotes and to study on the real-life issues in handling them by the public. It was those lessons learned back then that helped to ease the transition from paper to polymer banknotes for the Portrait Series $2, $5 and $10 denominations.
On 8 December 1999, to celebrate the coming 2000 millennium, 3 million pieces of the $2 millennium banknotes were circulated. The note is similar to the $2 portrait series, except that the prefix of the serial number is replaced with a Millennium 2000 logo.
These millennium notes are printed on paper as polymer notes were not introduced yet then.
On 27 June 2007, to commemorate 40 years of currency agreement with Brunei, 3 million pieces of commemorative $20 note was launched; the back is identical to the Bruneian $20 note launched simultaneously.
The circulation version of the $20 note can be exchanged at banks in Singapore beginning 16 July 2007, limited to two pieces per transaction.
On 18 August 2015, to commemorate Singapore's 50 years of nation-building, the Monetary Authority of Singapore launched a set of six commemorative notes. These commemorative notes comprise five S$10 polymer notes and a S$50 note.
The note design's draw inspiration from significant milestones and achievements in Singapore's history, the multiracialism that defines the nation and the values and aspirations that underpin Singapore's progress. The front of both the $50 and $10 notes feature a portrait of Yusof Ishak, Singapore's first president, as in the current Portrait series notes.
The $50 note highlights Singapore's history, transformation and future. It shows the late Prime Minister of Singapore, Lee Kuan Yew, shouting "Merdeka!"—the rallying cry of Singapore's independence struggle. The note makes distinctive use of the colour gold, reflecting Singapore's Golden Jubilee.
The five $10 notes have a common front design and varying back designs depicting the theme 'Vibrant Nation, Endearing Home'. Each note reflects a value or aspiration that defines the theme: 'Caring Community, Active Citizenry', 'Opportunities for All', 'Safe and Secure', 'Strong Families' and '...regardless of race, language or religion...'.
Mintage: $50 - 20 million, $10 - 75 million pieces.
In 5 July 2017, 2 million pieces of $50 were printed to commemorate the 50th anniversary of its Currency Interchangeability Agreement between Brunei and Singapore, both the Monetary Authority of Brunei Darussalam and the Monetary Authority of Singapore issued $50 polymer banknotes to commemorate that event.
On 5 June 2019 and 16 September 2019, a total of 4 million pieces of $20 note commemorating the Singapore Bicentennial was issued.
Commemorative Banknotes (Collectible Items)
300,000 sets of $50 polymer banknotes issued on 24 July 1990, came with an overprint of the anniversary date "9 August 1990", to celebrate the 25th anniversary of Singapore's independence.
On 12th June 1992, 5,000 sets of this commemorative $2 banknote was Issued with the book "Prudence at the Helm".
Each note is overprinted with a BCCS logo and text "25 YEARS OF CURRENCY ISSUE, 1967-1992, BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE, 12th JUNE, 1967" to commemorate the Board of Commissioners of Currency Singapore's (BCCS) 25th Anniversary of issuing it's own currency.
There is a missing “I” in the word " "COMMISSONERS" which is considered by many collectors as an Error Note.
In Commemoration Of The 25th Anniversary Of The Board of Commissioners of Currency Singapore, 20,000 sets of Ship $2 25-in-1 uncut sheets was issued on 12 June 1992.
In 1994 a Singapore Ship Series Paper Commemorative $2 with BCCS logo on the left of obverse was issued.
300,000 sets of $25 commemorative note was issued on 10 May 1996 in conjunction with the celebration of 25th Anniversary of Monetary Authority of Singapore (MAS). The Monetary Authority of Singapore was established on 1 January 1971 under the Monetary Authority Singapore Act which passed by the Parliament in 1970.
3,000 sets of $25 commemorative note 20-in-1 uncut sheets were also issued on 10 May 1996 in conjunction with the celebration of 25th Anniversary of Monetary Authority of Singapore (MAS).
100 sets of Ship $100 28-in-1 uncut sheet overprinted with the Centenary Celebration logo & the 30th Anniversary of BCCS logo issued on 30 Sep 1997 to commemorate 100 Years of Currency Board System in Singapore & the 30th Anniversary of the Board of Commissioners of Currency, Singapore (BCCS).
To commemorate the new issue of the Singapore Portrait Series and First President Yusof Bin Ishak, a complete sets of identical numbers in Prefix 0AA and 0YI were released in 1999.
The 0AA set is accompanied by a 24K gold certificate & a presentation folder, has a limited mintage of 5,000 sets.
The 0YI Identical number sets are available in below denominations:
$2 - $100 (10,000 sets),
$2 - $1,000 (1000 sets),
$2 - $10,000 (100 sets).
On 8 December 1999, to celebrate the coming 2000 millennium, 2,000 sets of $2 millennium 50-in-1 uncut sheets were issued.
On 15 March 2002, 5,000 Identical Number Set signed by Mr Lee Hsien Loong & Dr Richard Hu were issued to symbolise the impending transition of BCCS to MAS.
This set comprises two $50 notes with identical serial numbers, one bearing the signature & seal of Mr Lee Hsien Loong, and the other bearing the signature & seal of Dr Richard Hu. The note bearing the signature & seal of Mr Lee Hsien Loong is overprinted with the logo of BCCS and MAS.
On 17 May 2004, 9,300 sets of Portrait polymer $10 Commemorative Note were issued to commemorate First inaugural note issue by MAS.
Each note is overprinted with "Commemorative First Note Issue & MAS logo" and bearing an unique prefix 'MAS'.
10,000 sets of $20 Commemorative set were issued on 27 June 2007 to commemorate the 40th Anniversary of Currency Interchangeability Agreement between Singapore and Brunei Darussalam.
Singapore $20 piece is with a special over-print of the two countries' state crests and text "40th Anniversary Currency Interchangeability Agreement", and one Brunei $20 is with special over-print of the text "40th Anniversary Currency Interchangeability Agreement". The two notes are with matching serial numbers.
Brunei has issued 2,000 similar sets of their own with different folder design.
On 18 August 2015, to commemorate Singapore's 50 years of nation-building, the Monetary Authority of Singapore launched 7 limited edition SG50 numismatic currency sets for collection.
S1 - $50 Single Note (Special prefix ‘SG50’ & vertical serial number in blue).
Mintage - 50,000 sets.
S2 - $50 3-in-1 uncut sheet Set.
S3 A to E - $10 3-in-1 uncut sheet Set (5 different themes).
S5 - Identical Number Set (1x $50 and 5x $10 commemorative notes).
Mintage - 5,000 sets.
S6 - Silver set (1x $50 numismatic note and 1x $5 silver proof colour coin).
S7 - Gold set (1x $50 numismatic note and 1x $50 gold proof coin).
Mintage - 150 sets.
S8 - Premium Set (1x $50 and 5x $10 commemorative notes, 1 x $2 cupro- nickel proof-like colour coin, 1 x $5 silver proof colour coin and 1 x $50 gold proof coin).
Mintage - 150 sets.
On 5 July 2017, to commemorate the 50th anniversary of its Currency Interchangeability Agreement between Brunei and Singapore, an exclusive collection of five types of limited edition numismatic note sets were made available for collection.
SG01 - Identical Number set (1x Singapore $50 and 1x Brunei $50).
SG02 - Singapore $50 3-in-1 uncut sheet.
Mintage - 3,000 sets.
BN01 - Brunei $50 3-in-1 uncut sheet.
Mintage - 2,000 sets.
BN02 - Brunei $50 8-in-1 uncut sheet.
Mintage - 1,000 sets.
BN03 - Brunei $50 40-in-1 uncut sheet.
Mintage - 200 sets.
On 5 June 2019, a total of 5,000 sets of $20 3-in-1 uncut sheets were issued to commemorate the Singapore Bicentennial.
links for Singapore banknotes collection.
