Lee Hsien Loong and the Singapore Currency 李显龙与新加坡货币

PM Lee Hsien Loong served as Chairman of the Monetary Authority of Singapore (MAS) from 1998 to 2004 and Finance Minister from 2001 to 2007. 

Although PM Lee served as MAS Chairman from 1998, MAS was not the issuing authority of Singapore currency until the Board of Commissioners of Currency, Singapore (BCCS) was merged into MAS on 1st October 2002. PM Lee relinquished his appointment as Chairman of MAS in August 2004. His signatory as MAS Chairman, the issuing authority of Singapore currency, lasted for only 22 months. 

PM Lee is the only Prime Minister who concurrently was also the Chairman of BCCS and the Chairman of MAS. To be more accurate, he was the LAST Chairman of BCCS and the FIRST Chairman of MAS after BCCS was merged into MAS.

The merger of BCCS into MAS was also the 35th Anniversary of MAS, and that gave MAS the "fire power" to release a few commemorative issues. Well, maybe MORE than a few! 

As far as I know, the following uncut sheets and commemorative notes bear the signature of PM Lee, first released to the public in 2002 to 2005:

1. Year 2002, President Yusof Ishak $50 (Overprint: BCCS 1967 to MAS 2002) uncut sheet of 32 (200 sheets)

2. Year 2004, President Yusof Ishak $10 Polymer, MAS prefix s/n, commemorative sheet in Consecutive Number, uncut sheet of 35.

3. Year 2004, President Yusof Ishak $10 Polymer, MAS prefix s/n, commemorative sheet in Solid Number, uncut sheet of 35.

4. Year 2004, President Yusof Ishak $10 Polymer, MAS prefix s/n, commemorative single note with folder.

5. Year 2004, President Yusof Ishak $10 Polymer, MAS prefix s/n commemorative single note without folder.

6. Year 2005, President Yusof Ishak $2 uncut sheet of 60 (100 sheets)

7. Year 2005, President Yusof Ishak $5 uncut sheet of 40 (100 sheets)

8. Year 2005, President Yusof Ishak $10 uncut sheet of 45 (100 sheets)

9. Year 2005, President Yusof Ishak $50 uncut sheet of 45 (100 sheets)

(The above information is compiled from Mavin International auction catalogues. Being the official auctioneer of MAS, it has always been a great source of information. http://mavininternational.com )

Although it was a short 22 months, did PM Lee has less fanfare than any of his predecessors? 

The above list is not exhaustive. Accordingly, 10,000 pieces of MAS prefix banknotes were printed. If you know some other issues that I have missed out, please tell us on our Facebook page.

Year 2002, President Yusof Ishak $50 (Overprint: BCCS 1967 to MAS 2002) uncut sheet of 32 (200 sheets)
2002年，尤索夫·伊沙克总统50元纸钞 （加印BCCS 1967 to MAS 2002）32张连体（总发行200张）

Year 2005, President Yusof Ishak $2 uncut sheet of 60 (100 sheets)
 2005年，尤索夫·伊沙克总统 2元纸钞，60张连体（总发行100张）

Year 2005, President Yusof Ishak $5 uncut sheet of 40 (100 sheets)
2005年，尤索夫·伊沙克总统 5元纸钞，40张连体（总发行100张）

Year 2005, President Yusof Ishak $10 uncut sheet of 45 (100 sheets)
2005年，尤索夫·伊沙克总统10元纸钞，45张连体（总发行100张）

李显龙总理曾 在1998至2004年担任新加坡金融管理局（MAS金管局）主席和在2001至2007年任财政部长。

虽然李总理从1998年担任金管局（MAS）主席，但金管局（MAS）并不是新加坡货币的发行机构，直到新加坡货币专员委员会（BCCS）在2002年10月1日并入金管局后。李总理在2004年8月卸下金管局主席的职务。他作为新加坡纸币的签署部长仅仅22个月。

李总理也是唯一同时兼任新加坡货币专员委员会（BCCS）主席和金管局（MAS）主席的总理。更准确的说，他是新加坡货币专员委员会（BCCS）最后一位主席和货币专员委员会（BCCS）并入金管局（MAS）后有货币发行权的金管局（MAS）的第一任主席。

货币专员委员会（BCCS）并入金管局（MAS）的那一年，也是金管局成立35周年。无巧不成书，这给了金管局足够的“火力”来庆祝一番，发行了一些纪念纸币和未切割连体钞。也许不止一些！

据我所知，由李总理签名发行的未切割连体钞和纪念纸币，从2002年至2005年发售，让公众购买的有以下几种：

1. 2002年，尤索夫·伊沙克总统50元纸钞 （加印BCCS 1967 to MAS 2002）32张连体（总发行200张）。

2. 2004年，尤索夫·伊沙克总统10元塑质钞，MAS序号，连续编号，35张连体（总发行不详）。

3. 2004年，尤索夫·伊沙克总统10元塑质钞，MAS序号，Solid编号，35张连体（总发行不详）。

4. 2004年，尤索夫·伊沙克总统10元塑质钞，MAS序号，单张，配有封套（总发行不详）。

5. 2004年，尤索夫·伊沙克总统10元塑质钞，MAS序号，单张，无封套（总发行不详）。

6. 2005年，尤索夫·伊沙克总统 2元纸钞，60张连体（总发行100张）。

7. 2005年，尤索夫·伊沙克总统 5元纸钞，40张连体（总发行100张）。

8. 2005年，尤索夫·伊沙克总统10元纸钞，45张连体（总发行100张）。

9. 2005年，尤索夫·伊沙克总统50元纸钞，45张连体（总发行100张）。

(以上资料从Mavin International拍卖目录编制。作为金管局的官方拍卖商，Mavin International是极好的信息来源。http://mavininternational.com/)

虽然只有短短的22个月，单看发行的未切割连体钞和纪念纸币，李总理在我国货币史中的光芒却不会比之前的任何一位签署部长来的逊色。李总理就是不一样！

以上所列并不详尽。听说，MAS序号单张就印制了一万张！如果你知道我错过了哪一些李显龙总理发行的未切割连体钞和纪念纸币，请在我们的Facebook页面告诉我们。

Signatories of the Singapore Currency (1967-2013) 新加坡纸币上的签名（1967年至2013年）

In the history of Singapore's paper currency, post independence up to 2013, there has been seven (7) signatures over four (4) series of banknotes.

The Singapore currency  bears the signature of the Finance Minister from the Orchid, Bird to Ship series. 

Starting from the Portrait series, the currency bears the signature of the Chairman of the Board of Commissioners of Currency, Singapore (BCCS) and after 2002, the Chairman of the Monetary Authority of Singapore (MAS).

The seven (7) signatories of Singapore currency, from 1967 to 2013:

1. Mr Lim Kim San
2. Dr Goh Keng Swee
3. Mr Hon Sui Sen
4. Dr Richard Hu Tsu Tau
5. Mr Lee Hsien Loong (current Prime Minister)
6. Mr Goh Chok Tong (Emeritus Senior Minister)
7. Mr Tharman Shanmugaratnam (current Deputy PM & Finance Minister)

Q: Who are the longest serving signatories on our currency?

A: Mr Hon Sui Sen served for 13 years (est.), having his signature printed on the Orchid to the Bird series. Dr Richard Hu served about 16 years (est.), helming the Ship to President Yusof Ishak series.

Q: Who are the shortest serving signatories on our currency?

A: Mr Lim Kim San served from 1965 to 1967 (about 2-3 years), while Dr Goh Keng Swee served from 1967 to 1970 (about 3-4 years). But it could also be Mr Lee Hsien Loong who served as MAS Chairman from 1998 to 2004 and  Finance Minister from 2001 to 2007.

But how could that be since PM Lee was MAS Chairman and Finance Minister up to 2007? 

If you wish to know more, look out for my next blog post :-)

 Orchid Series $100, signed by Finance Minister LKS.

 Bird Series $20, signed by Finance Minister HSS.

 Ship Series $2, signed by Finance Minister HTT.

  Ship Series $100, signed by Finance Minister HTT.

 Portrait Series $5, signed by Chairman BCCS, HTT.

Portrait Series $50, signed by MAS Chairman, Tharman.

在新加坡的纸币历史里，独立后至二零一三年 (2013），在四（4）个纸币系列里有七（7）个签名。

新加坡纸币开始都带有财政部长的签名。从兰花系列，鸟系列到船舶系列，都是这样。

从人像系列开始，纸币带有新加坡货币专员委员会主席（BCCS）的签名，一直到二零零二年(2002)后，由新加坡金融管理局（MAS）主席签名。

新加坡纸币从1967至2013的签署部长：

1. 林金山先生
2. 吴庆瑞博士
3. 韩瑞生先生
4. 胡赐道博士
5. 李显龙先生 (现任总理）
6. 吴作栋先生（荣誉国务资政）
7. 尚达曼先生（现任副总理兼财长）

问：谁是新加坡纸币签署部长当中任职时间最长的？

答：韩瑞生先生担任了约十三年，从兰花到鸟系列的纸币都有他的签名。胡赐道博士担任了约十六年，船舶至总统尤索夫·伊沙克系列的纸币都有他的签名。

问：谁是新加坡纸币签署部长当中任职时间最短的？

答：林金山先生从1965年至1967年担任签署部长约二至三年，而吴庆瑞博士是从1967年至1970年担任签署部长约三至四年。但李显龙先生也可能是担任最短的签署部长之一，虽然他曾在1998至2004年担任新加坡金融管理局（MAS）主席和在2001至2007年任财政部长。

那怎么可能是李总理呢？他曾担任新加坡金融管理局（MAS）主席和财政部长至二零零七年（2007），时间不算短。

要知道详情，请留意下一篇博客，我将与你分享。

Feng Shui Banknotes- Singapore Portrait Series

Banknotes contain messages. Some of these messages are visible to the eyes, some are hidden and some are invisible and can only be seen under ultra-violet light.

In the above $2 portrait series banknote, you can see clearly the hologram on the left and the digit 2 on the right.

"Singapore" in four official languages, and right on top of that, a row of micro lettering which you can only see if you have a strong magnifier.

Can you see the micro lettering?

For this first series of Portrait banknotes, it reads "BOARDOFCOMMISSIONERSOFCURRENCYSINGAPORE". 

Now can you tell me, how many times of the above, is repeated on the banknote? :-) Tell us on Facebook page.

In the above $5 banknote, what can you see in the hologram on the left? 

In the hologram, can you see a "$" logo and behind of that  can you see "BCCS:? And a digit 5 on the right? If you can, that's very good!

What about the big digit 5 on the right? 
Can you see the 'BCCS' micro lettering on the shadow of the digit? And some kind of motif on the face of the digit 5?

Next, the $10 banknote above. 

Now, if you look at the images of the $2, $5, $10 and $50 banknotes, the design theme is consistent: hologram on the left and digit of the value of the banknote on the right.

"BCCS" micro lettering can be found on the shadow of the digit and a different motif on the face of the digit for each note.

Take a closer look at the motifs. What are these motifs and what do they represent?

They look familiar? Seen them some where? 

These motifs are auspicious symbols! You could have seen them at the Forbidden City in Beijing, the museum, a Chinese temple or on TV.

The auspicious symbols found on the Singapore Portrait Series banknotes are represented as follows:

$  2 - Bats 蝙蝠, a symbol of happiness and joy, and the Chinese for bat sounds identical to the word for good fortune.

$  5 - Pomegranates 石榴, is symbol of prosperity and fertility in many cultures and religions.

$10 - Chinese Coin 铜钱, is a symbol of prosperity and wealth.

$50 - Peaches 寿桃, is a symbol of longevity and immortality. 

Don't you feel blessed just by carrying these notes? I really hope so :-)

But there is one more . . . what's the biggest and most obvious auspicious symbol on the portrait series banknotes???

It's the BA-GUA 八卦 (the Chinese Octagon), represented by the HOLOGRAM, used to harmonize the environment and create good fortune in Chinese geomancy!

Being reflective it actually works like a ba-gua mirror, used to reflect and divert negative qi (energy). 

So next time when you're feeling down and out, take out a wad of Portrait series banknotes and you should feel better. :-)))

To find out more about the auspicious creatures in the Ship Series, read here.

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Singapore Portrait Series- First Issue Printing Imperfections

One of the major security feature of the Portrait series is the addition of a hologram. The octagon-shaped hologram is applied to a guilloche on the left of the digit. 

From the first issue of the Portrait series banknotes, we can see the hologram is applied with a lot less precision. This is clearly demonstrated by the four $2 notes with running serial numbers: the hologram is applied within the guilloche but they are all off-centred at four different positions. 

This is especially prominent in the $2 notes but a lot less on the other notes. In fact, if you observe the latest $50 Tharman note, which is still in paper, the horogram is also off-centred.

The hologram when tilted, shows a multi-coloured image of the "$", "BCCS" and the number 2.

This is the $10 note with the serial number OJF912530- perfectly printed. But take a look at the next note.

This is the $10 note with the serial number OJF912531. Can you see the difference between this and the previous?

There is very obvious bleeding on the intaglio prints at four positions. This could be the most serious bleeding I've ever seen and I'm surprised quality control did not pick this up, for some known or unknown reasons. But surely and I'm assuming, quality control has been tighten in later batches and "imperfect" notes are rare.

If you observe closely, out of the three $10 notes in the money bag, the first note OJF912529 also has bleeding at the coat of arms and "SINGAPORE". Together with 531, that's 2 out of 3 imperfect notes. 

OAA 1st series $5 notes in running numbers: perfectly printed but hologram is off-centred.

Have you made similar observations in earlier notes or even recent notes that have this type of imperfections? Are these "imperfect" notes collectible since they're not major error notes? 

Tell us about your experience and share with us on our Facebook page.

The Singapore Currency: An Artistic Expression by LIYU

I was invited to attend the Nanyang Academy of Fine Arts' (NAFA) BA Fine Art Degree exhibition because I spoke to one of the graduating student on Singapore's modern currency some moons ago. I thought he was doing some research to write a thesis. Never did I know he was creating ART. 

The following are two of his graduating artwork on display at NAFA's Lim Hak Thai Gallery.

 Happiness, Prosperity and Progress Series no. 1: "To Greater Heights"

The author uses digital collage from Singapore's four series of currency, including the $50 and $25 commemorative notes, to create his artwork. 

His artwork is intriguing and profound. It uses our currency as a strong expression of our economic progress and pursuit, that is becoming detrimental and weaker groups have fallen through the cracks especially when our social safety nets are weak.

The author "attempts to provoke a reflection on the value system of our society."

Birds seems to be the key focus here; catching its preys and flying them up into the air before letting them plunge to the ground. 

The higher you go, the harder you fall?

I think you'll probably know which banknote the skyline at the background comes from, but do you know where Victoria Concert Hall and the buildings with the brown roofs come from? I've no idea. Pls tell us on our Face Book page if you know the answer.

And I spotted a "strange image" at the centre of the artwork that is completely incoherent. Can you see it? Do you know what it means? Tell us on our Face Book page.

What's Chen Wenxi's monkey doing on the dome of the old Supreme Court Building? Banana tree? Where does that come from? :-)

Happiness, Prosperity and Progress Series no. 2: "In Celebration"

The focus here seems to be buildings and people. While most are celebrating some are drowning. So an artist is also a sociologist? Yes, very much one! Don't you agree?

Can you make out where all those buildings come from? And all those spectators cheering? It took me a while to find out but the red building on the right, I have no idea where it comes from. :-(

 MBS, the new Singapore skyline, the Science & Art Museum and the Singapore Flyer? I think I missed a lot here :-))) Can someone enlighten me?

All That is Solid

"Plant base jelly. Delightful in the first 8 hours, after that threshold, decay takes over, flies moves in to breed. Likewise, how solid is our economy?" (Excerpt taken from Liyu's web-page http://cargocollective.com/liyu/All-that-is-solid)

Philosophical. :-)

According to Erica Lai (BAFA Course Leader), "Liyu attempts to decipher the codes within the Singapore currency system through his experiments in ephemerality and magnifications  Like a tireless conspiracy theorist, Liyu has created a varied body of evidence that is utterly captivating."

I'm not an art critic so I'll leave it to you to decipher LIYU's message. And I hope LIYU can tell us more!

I hope you like his work. 

Please join me to congratulate LIYU and The New NINE, and wishing them best of endeavours! 

Singapore Portrait Series First Issue $100 Money-Bag

The first portrait series banknotes bearing the portrait of Encik Yusof bin Ishak, the first President of Singapore, was issued on 9 September 1999. 

Did you realize this series of banknotes has been in circulation for 14 years (up to 2013)? I suspect it will be replaced in 2015 when Singapore celebrates 50 years of independence (don't quote me, I'm just guessing).

People don't usually talk about a current series because it is still in circulation- you get to touch and feel it everyday, so there is nothing special about it. 

But in fact, the Yusof Ishak series has gone through substantial changes in the last 14 years. It has gone through four signature changes, starting from (1) Hu Tsu Tau, (2) Goh Chok Tong, (2) Lee Hsien Loong to (4) Tharman Shanmugaratnam. 

The banknotes bearing the signature of Hu Tsu Tau (HTT) were issued by the Board of Commissioners of Currency, Singapore (BCCS). When BCCS was merged into MAS and MAS became the banknote issuing authority, the banknotes started to bear the signature of Goh Chok Tong, as Chairman of MAS.

The most important physical changes within these 14 years and probably even in the history of Singapore's currency has to be moving from paper to PLASTIC. 

Do you know which are the banknotes that are in plastic; when did they become plastic? 

For my younger audience, this is specially for you: the first issue of the portrait series (all paper), in a $100 money bag. 

Sealed in a polymer bag is a $100 worth of banknotes:

five $2, two $5, three $10 and one $50. 

OAA is the prefix of the serial number for the first print. Notes of the same value found in the bag are in running numbers (see first photo above).

The reverse of the money bag clearly indicates this money bag comes from POSB and it has a BCCS sticker marked $100.

All notes in paper, bearing the signature of HTT as Chairman of BCCS. Enhanced security features include: kinegram, asymmetrical serial numbers, and latent image. 

Q: What do you see in the kinegram? 

Back of the notes featuring a stardust security thread.

So how many money bags were exchanged to the public in 1999? Are these $100 money bags rare? Because I've never seen any of them around. Do you own one of this money bag and are they currently being sold as collectibles? 

If you know the answers to any of my questions, tell us on our Facebook page.

In my next post, I will be sharing with you some of the special features of the first issue I noted under high magnification. Surprise, surprise! Stay tuned.

Join us on Facebook.

Singapore Bird Specimen Banknotes (Part 2)

The Singapore Bird series banknotes is like the second son, always a shadow of the eldest, always taken for granted, and always never taken seriously. The eldest son is always favored because he is the first child and always perceived to be the smartest and brightest.

But that's beginning to change.

The Bird Specimen Set that was auctioned off in March 2013 was hammered down for S$5,000; inclusive of 18% buyer's premium the set was paid for at S$5,900. Although all the notes in this set is PMG rated and cannot be compared to an unrated set, it still speaks volume of what's to come.

Based on available auction information, there were a total of 4 Bird Specimen sets sold from 2009 to 2011. None was available for auction in 2012; the PMG set was the first to be sold in 2013.


Mavin                 Lot         Album     Realized       Paid  
Auction               no.          no.           Price            (+18%)
29  Nov 2011      689          089          S$3,100        S$3,658
26  Mar 2011      753          293          S$1,750        S$2,065
24  July 2010      829          121          S$1,690        S$1,994
22  Nov 2009      638          Nil           S$   830        S$    979

Auction information is taken from Mavin International website.
The realized price and total price may not be accurate due to different forex rates and buyer's premium.

The trend is obvious and needs no further explanation.

For those who have sold out earlier because you've lost faith: you did what you need to do then, you may consider buying back now (pun intended).

For those who are still holding on, the day has finally come, it's time to cash out, you may consider selling to me :-))) (pun unintended).

The Singapore banknote series:
Orchid      1967 to 1976      (10yrs)
Bird          1976 to 1984      (9 yrs)
Ship          1984 to 1999      (16 yrs)
Portrait     1999 to present  (14 yrs; up to 2013)

The Singapore Specimen Sets (public sale):
Orchid LKS 5pc:   77 sets
Orchid HSS 5pc:   89 sets
Orchid HSS 6pc:   82 sets
Bird HSS 6pc    :   311 sets

Total Orchid sets:   248
Total Orchid & Bird sets:   559

 Front: Bird $100 note A/1 000000 overprinted with "SPECIMEN".

Back: Bird $100 note overprinted  with "SPECIMEN".