Did you know that Singapore’s $10, 000 note is amongst the world’s most valuable banknotes? The only other bank note that rivals it in value is Brunei’s $10, 000 note, which is equal in value in terms of Singapore dollars. Currency between the two nations have been interchangeable since an agreement signed between Brunei and Singapore in 1967.
However, in 2014, the Monetary Authority of Singapore announced that it would stop producing the $10, 000 note. The $10, 000 note had been part of Singapore’s legal tender since 1967, from the Orchid series all the way to today’s Portrait series. The reason for ceasing production of the bank note? To prevent money-laundering by organized crime. High value bank notes are an efficient way to move money. With the $10, 000 bank note, one could theoretically have a million dollars in their pocket since the stack will only be 1 cm thick and under 200g in weight.
Although the bank note is no longer in production, it is still legal tender and remains so indefinitely.
Just last year, in October, a 61 year old man was arrested for trying to deposit a fake $10, 000 bank note. He had been persuaded to do so by an unknown foreign man, who offered a monetary reward in exchange. In August last year, a pair of male suspects aged 34 and 55 years old were apprehended after it was discovered that they had sold a fake Orchid series $10, 000 note to a man online. The victim had paid $11, 500 dollars for the counterfeit bank note.
The Orchid note series were produced between the years 1967 – 1976. They were followed by the Bird series from 1976 – 1984 and then the Ship series from 1984 – 1999. From 1999, Singapore has been producing the Portrait series, with the face of Singapore’s first President, Encik Yusof bin Ishak, gracing our money. What are your thoughts on Singapore’s currency notes throughout the years? Which is your favourite?