Singapore Portrait Series currency notes

Last updated

Front of the $2, $10 and $50 Portrait Series notes Singapore Portrait Series currency notes.jpg
Front of the $2, $10 and $50 Portrait Series notes

The Portrait Series of currency notes is the fourth and current set of notes to be issued for circulation in Singapore. It was first introduced on 9 September 1999 by the Board of Commissioners of Currency, Singapore (BCCS), whose role was since taken over by the Monetary Authority of Singapore (MAS) post-merger.

Contents

This series features the portrait of Yusof bin Ishak, the first president of Singapore. [1] The design has been simplified and new security features were introduced. Polymer versions of this series were released for general circulation by MAS as of 4 May 2004.

History

The Portrait Series was first released by the Board of Commissioners of Currency, Singapore (BCCS) on 9 September 1999 to welcome the new millennium, [1] designed by local artist Eng Siak Loy. [2] The series has a total of seven denominations in general circulation; the denominations $1 and $500 were not carried forward from the previous Ship Series. The colour for denominations up to $50 have been retained, a tradition kept since the era of the Malaya and British Borneo dollar. A more standardised approach is adopted across all banknote denominations, with features noticeably differing from all previous series. For example, the watermark no longer features the lion head symbol. Due to design considerations, the dollar sign was considered redundant and is no longer included in this series. [3] In addition, the note printing company no longer appears on any part of the portrait note.

On 31 March 2003, the BCCS merged with the Monetary Authority of Singapore (MAS), which took over the responsibility of banknote issuance. On 4 May 2004, the MAS started issuing polymer versions of the S$ 10.00 note for general circulation; polymer versions of the S$ 2.00 and S$ 5.00 notes were subsequently released. [2] Higher denomination banknotes (S$ 50.00, S$ 100.00, S$ 1,000 & S$ 10,000) are still printed on paper. The paper version of the lower denomination banknotes remain in active circulation alongside the polymer version, though the number of S$ 2.00 and S$ 5.00 paper notes have dwindled significantly since the introduction of polymer notes. [3]

On 2 July 2014, the Monetary Authority of Singapore announced that it would stop printing S$ 10,000 notes starting from 1 October 2014, to reduce the risk of money laundering. [4] MAS would also stop producing the S$ 1,000 banknote as well from 1 January 2021 onwards, which has the same reason of withdrawing S$ 10,000 notes and because the demand of these notes is low except for bank account maintenance (currently the notes that are in high demand are S$ 50.00 and S$ 100.00 notes). The MAS has said that the higher denomination notes (beyond $100) will continue to remain legal tender. [5]

Security features

Previous security features in the Ship Series were carried over to the Portrait Series, and new ones incorporated into the banknote. The two most prominent security features are the engraved portrait of Yusof bin Ishak (which contains fine lines that are difficult for counterfeiters to mimic) and the Kinegram (a printed security hologram); MAS states that banknotes with missing or mutilated portrait or/and Kinegram command no value. Paper versions issued by BCCS features its logo and the face value, while those issued by the MAS features its logo with the Merlion (a mythical creature and national symbol) and the face value. [6] Polymer versions of the banknote have the Kinegram replaced by an image of the Singapore lion symbol with the face value, showing the coat of arms of Singapore when tilted at varying degrees.

Other security features include lithographic print (the resulting background hinders camera counterfeiting), anti-copying line structures, perfect registration, microprinting, asymmetrical serial numbers and windowed security threads (thin ribbons woven into the paper). [6] Polymer versions of the banknote include two clear windows and other security features that substitute its paper version. Several features that are invisible to the naked eye appear when both versions of the banknote are exposed under UV light. [7]

Banknotes in general circulation

The banknote's obverse features the portrait of the first president of Singapore, Yusof bin Ishak, and the reverse contain secondary themes that are linked to his life. [8] The background on the obverse of the Portrait Series feature a different cowrie (sea snail whose shell was often used as currency) for each denomination. [9] The banknotes are signed by the BCCS chairman and later by the MAS chairman, and the signatories include former Finance Minister Richard Hu, Prime Minister (and former Finance Minister) Lee Hsien Loong, former Prime Minister Goh Chok Tong, and President (former Deputy Prime Minister and Finance Minister) Tharman Shanmugaratnam.

$2 banknote

The money cowrie is featured on the obverse background of the $2 banknote. Its reverse carries the theme of education and features three buildings, the Victoria Bridge School (now known as Victoria School), Old Raffles Institution Building at Bras Basah Road, and College of Medicine Building. [10] [11] Yusof received his primary education in 1923 at Victoria Bridge School, and his secondary education in Raffles Institution; His father, Ishak bin Ahmad insisted that his children be English-educated. He was also the Chancellor of the National University of Singapore between 1965 and 1970. [10]

$5 banknote

The gold-ringed cowrie is featured on the obverse background of the $5 banknote. Its reverse carries the theme of Garden City and features the 200-year-old tembusu tree at Singapore Botanic Gardens, as well as Singapore's national flower Vanda Miss Joaquim. [12] Yusof was a keen-gardener who once made a living growing Orchids in Gombak, Kuala Lumpur before his appointment as president. [13]

$10 banknote

The wandering cowrie is featured on the obverse background of the $10 banknote, the most-commonly found cowrie in Singapore. Its reverse carries the theme of sports and features sportsmen playing badminton, soccer, sailing, jogging and swimming. Yusof was an active sportsman in his secondary school days, and won the national boxing title and the lightweight weightlifting championship. [14] [15] The $10 banknote was the first denomination in the series printed in polymer. 10 million bills were first released to the general public as a trial, and were the first in Singapore to be successfully dispensed from Automated teller machines (ATMs) and be used in payment involving machines. [16] With the successful trial, MAS decided to release polymer versions of the $2, $5 and $10 for circulation.

$50 banknote

The cylindrical cowrie is featured on the obverse background of the $50 banknote. Its reverse carries the theme of Arts and features two paintings and four musical instruments. The pipa, kompang, veena and violin represent the musical instruments for different cultures in Singapore. [17] [18] Cheong Soo Pieng (creator of Drying Salted Fish) and Chen Wen Hsi (creator of Gibbons Fetching the Moon from the Water) are two artists who created a new type of fine arts in Singapore that influenced other local artists, in which their two paintings are featured. [17] [18]

$100 banknote

The swallow cowrie is featured on the obverse background of the $100 banknote. Its reverse carries the theme of youth and features a National Service officer with his ceremonial sword standing against the tower of the SAFTI Military Institute, uniformed youths representing Singapore Red Cross, St John's Ambulance Brigade, Singapore Scout Association and the National Police Cadet Corps. [19] [20]

$1,000 banknote

The beautiful cowrie is featured on the obverse background of the $1,000 banknote. Its reverse carries the theme of government featuring the buildings of the three branches of government: The Parliament House, Old Supreme Court Building and Istana, representing the Legislative, Judiciary and Executive powers respectively. The Istana is the president's official residence, built in 1869 which first housed the colonial governor. [21] [22] The entire national anthem's lyrics are included as microprint, which is a unique feature to the $1,000 banknote. [2]

$10,000 banknote

$10,000 note front SGD 10000 Paper f.jpg
$10,000 note front

The onyx cowrie is featured on the obverse background of the $10,000 banknote. Its reverse carries the theme of economy featuring Singapore as a knowledge-based economybiotechnology, R&D and silicon wafer. [23] [24]

It was one of the highest-value banknote in the world in terms of absolute value (worth approximately US$7,250 as of July 2022) that was in public circulation. [25]

Commemorative banknotes

Millennium $2 banknote

In celebration of the Millennium 2000, five million $2 bills were printed with the Millennium 2000 logo replacing the prefix of the serial number normally found in other notes under general circulation. [3]

Overprinted banknotes

Three commemorative limited issues have been made for the Portrait Series (including the $20 issue below). 10,000 sets of the $10 polymer was issued with the overprint 'Commemorative First Issue by MAS' with the prefix MAS. 5,000 sets of $50 banknotes signed by PM Lee Hsien Loong have been stamped with overprint commemorating the merger of the BCCS and MAS. [18]

$20 banknote

On 27 June 2007, the governments of Singapore and Brunei celebrated the 40th anniversary of the Currency Interchangeability Agreement (an agreement allowing citizens of both countries to use currency from either nation interchangeably) by issuing commemorative $20 notes, [26] that are yellow, 149 × 72 mm in size, and made of polymer. The obverse of the Singaporean version is similar to the current Portrait Series, whereas the obverse of the Brunei version is similar to the $50 and $100 of the 2004 series. The reverses are almost identical except that the Brunei version has their state title in Jawi script, while the Singaporean version has the state title of Brunei in Latin script. [27]

A limited edition set was offered for sale, which consisted of both versions in a folder, with matching serial numbers. The notes have "40th Anniversary Currency Interchangeability Agreement" overprinted on the obverse side. In addition, the Singaporean version has the two countries' state crests above the commemorative text. Only 12,000 sets were available, 10,000 from the Monetary Authority of Singapore, and 2,000 from the Brunei Currency and Monetary Board. [27] The circulation version was made available from 16 July 2007. [28]

SG50 banknotes

Five $10 and one $50 polymer commemorative banknotes were made available from 20 August 2015. [29] They are part of Singapore's Golden Jubilee (SG50) celebrations. 20 million pieces were printed for the $50 commemorative SG50 banknote, while 15 million pieces of each $10 commemorative SG50 design banknote were printed. [30] There was an oversupply of these SG50 banknotes; by February 2016 only about less than half of them were actually issued. [31]

Specifications

4th Series – Portrait Series (1999–present)
ValueDimensionsMain ColourDescriptionDate of issueStatusMaterial
ObverseReverse
$2126 × 63 mmPurplePresident Yusof bin Ishak, Money CowrieEducation9 September 1999Richard Hu (September 1999) and Lee Hsien Loong (January 2005) [32] Paper
12 January 2006Goh Chok Tong (January 2006) and Tharman Shanmugaratnam (2014) [32] Polymer
$5133 × 66 mmGreenPresident Yusof bin Ishak, Gold-Ringed CowrieGarden City9 September 1999Richard Hu (September 1999) and Lee Hsien Loong (August 2004) [33] Paper
18 May 2007Goh Chok Tong (May 2007) and Tharman Shanmugaratnam (2014) [33] Polymer
$10141 × 69 mmRedPresident Yusof bin Ishak, Wandering CowrieSports9 September 1999Richard Hu (September 1999) and Lee Hsien Loong (May 2004) [34] Paper
4 May 2004Lee Hsien Loong (May 2005), Goh Chok Tong (January 2008) and Tharman Shanmugaratnam (2015) [34] Polymer
$50156 × 74 mmBluePresident Yusof bin Ishak, Cylindrical CowrieArts9 September 1999Richard Hu (September 1999), Lee Hsien Loong (March 2002), Goh Chok Tong (November 2009) and Tharman Shanmugaratnam (July 2012) [35] Paper
$100162 × 77 mmOrangePresident Yusof bin Ishak, Swallow Cowrie Youth Richard Hu (September 1999), Goh Chok Tong (November 2009) and Tharman Shanmugaratnam (March 2013) [36] Paper
$1,000170 × 83 mmPinkPresident Yusof bin Ishak, Beautiful CowrieGovernmentRichard Hu (September 1999) and Goh Chok Tong (November 2009). No longer issued from January 2021 due to low demand. [37] Paper
$10,000180 × 90 mmGoldPresident Yusof bin Ishak, Onyx CowrieEconomicsRichard Hu (September 1999). [38] No longer issued from October 2014 due to low demand. [4] Paper

Notes and references

  1. 1 2 Stella Koh (for BCCS) (1999). The Presidential Notes – Field Book: President Yusof bin Ishak and the Portrait Notes. SNP Publishing. p. 5. ISBN   9789814032520.
  2. 1 2 3 Know Your Money, Monetary Authority of Singapore. Archived from the original on 29 February 2012.
  3. 1 2 3 Frequently Asked Questions, Monetary Authority of Singapore. Archived from the original on 2 March 2014.
  4. 1 2 "Singapore to stop issuing S$10,000 banknote to prevent money laundering". Reuters. 2 July 2014. Retrieved 6 November 2014.
  5. "Singapore to stop issuing S$1,000 note to reduce money laundering risk". CNA. Archived from the original on 30 July 2021. Retrieved 13 April 2021.
  6. 1 2 Koh, p. 72-74
  7. Koh, p. 75
  8. Koh, p. 54
  9. Koh, p. 70
  10. 1 2 Koh, p. 56-57
  11. Portrait Series – $2 Archived 7 June 2007 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2007.
  12. Portrait Series – $5, Monetary Authority of Singapore, 18 May 2007, archived from the original on 22 June 2008, retrieved 12 July 2010
  13. Koh, p. 58-59
  14. Koh, p. 60-61
  15. Portrait Series – $10 Archived 7 June 2007 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2008.
  16. Took note of the new plastic $10 bills? Most didn't Archived 28 February 2008 at the Wayback Machine , Joann Tan, The Straits Times, 5 May 2004
  17. 1 2 Koh, p. 62-63
  18. 1 2 3 Portrait Series – $50 Archived 7 June 2007 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2008.
  19. Koh, p. 64-65
  20. Portrait Series – $100 Archived 2 January 2012 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2008.
  21. Koh, p. 66-67
  22. Portrait Series – $1,000 Archived 7 June 2007 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2008.
  23. Portrait Series – $10,000 Archived 7 June 2007 at the Wayback Machine , Monetary Authority of Singapore. Retrieved 19 February 2008.
  24. Koh, p. 68-69
  25. PARITY DEMOCRACY and MONEY: Annual Meetings Paper 11 Archived 20 February 2012 at the Wayback Machine , COUNCIL for PARITY DEMOCRACY. Retrieved 19 February 2008.
  26. Monetary Authority of Singapore (27 June 2007). "Commemorating the 40th Anniversary the Currency Interchangeability Agreement". Archived from the original on 3 July 2007. Retrieved 30 July 2007.
  27. 1 2 Monetary Authority of Singapore (27 June 2007). "Annex 1, Commemorating the 40th Anniversary the Currency Interchangeability Agreement" (PDF). Archived from the original (PDF) on 7 August 2007. Retrieved 30 July 2007.
  28. Monetary Authority of Singapore (27 June 2007). "$20 Polymer Note to Commemorate 40 Years of the Currency Interchangeability Agreement". Archived from the original on 29 June 2007. Retrieved 30 July 2007.
  29. Mohandas, Vimita (18 August 2015). "For SG50, a new range of S$50 and S$10 notes - with an eye both on past and future". Channel NewsAsia. Retrieved 18 August 2015.
  30. Lin, Melissa (18 August 2015). "PM Lee launches a set of commemorative $50 and $10 notes to mark SG50". Straits Times. Retrieved 18 August 2015.
  31. "SG50 notes: Too much of a good thing?". Business Times. 19 February 2016. Retrieved 2 May 2016.
  32. 1 2 Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $2, Mavin International. Retrieved 19 February 2008.
  33. 1 2 Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $5, Mavin International. Retrieved 19 February 2008.
  34. 1 2 Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $10, Mavin International. Retrieved 19 February 2008.
  35. Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $50, Mavin International. Retrieved 19 February 2008.
  36. Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $100, Mavin International. Retrieved 19 February 2008.
  37. Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $1,000, Mavin International. Retrieved 19 February 2008.
  38. Singapore President Ishak or Portrait Series Banknotes – Observed or Known Prefixes for $10,000, Mavin International. Retrieved 19 February 2008.

Related Research Articles

The Kwacha is the currency of Zambia. It is subdivided into 100 Ngwee.

<span class="mw-page-title-main">Banknotes of the pound sterling</span> Promissory notes denominated in pounds sterling

The pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha.

<span class="mw-page-title-main">Namibian dollar</span> Currency of Namibia

The Namibia dollar has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign ($), or alternatively N$ to distinguish it from other currencies called “dollar.” It is divided into 100 cents.

<span class="mw-page-title-main">Malaysian ringgit</span> Official currency of Malaysia

The Malaysian ringgit is the currency of Malaysia. Issued by the Central Bank of Malaysia, it is divided into 100 cents.

<span class="mw-page-title-main">Brunei dollar</span> Monetary currency of the Sultanate of Brunei

The Brunei dollar, has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 sen (Malay) or cents (English). The Brunei dollar is issued by the Brunei Darussalam Central Bank.

<span class="mw-page-title-main">Singapore dollar</span> Currency of Singapore

The Singapore dollar is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.

<span class="mw-page-title-main">United States one-hundred-dollar bill</span> Current denomination of United States currency

The United States one-hundred-dollar bill (US$100) is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was first produced in 1914. Inventor and U.S. Founding Father Benjamin Franklin has been featured on the obverse of the bill since 1914, which now also contains stylized images of the Declaration of Independence, a quill pen, the Syng inkwell, and the Liberty Bell. The reverse depicts Independence Hall in Philadelphia, which it has featured since 1928.

<span class="mw-page-title-main">Bangladeshi taka</span> Currency of Bangladesh

The Bangladeshi taka is the currency of Bangladesh. In Unicode, it is encoded at U+09F3BENGALI RUPEE SIGN.

<span class="mw-page-title-main">Maldivian rufiyaa</span> Currency of the Maldives

The Maldivian rufiyaa is the currency of the Maldives. The issuance of the currency is controlled by the Maldives Monetary Authority (MMA). The most commonly used symbols for the rufiyaa are MVR and Rf. The ISO 4217 code for Maldivian rufiyaa is MVR. The rufiyaa is subdivided into 100 laari.

The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of sterling banknotes and coins, in a similar way to the banknotes issued in Scotland, England and Northern Ireland. It can be exchanged at par with other sterling coinage and notes.

<span class="mw-page-title-main">Gambian dalasi</span> Currency of the Gambia

The dalasi is the currency of the Gambia that was adopted in 1971. It is subdivided into 100 bututs. It replaced the Gambian pound at a rate of 1 pound = 5 dalasis, i.e. 1 dalasi = 0.2 pound = 4 shillings.

The Bermudian dollar is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.

<span class="mw-page-title-main">Trinidad and Tobago dollar</span> Currency of Trinidad and Tobago

The Trinidad and Tobago dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Cents are abbreviated with the cent sign ¢, or TT¢ to distinguish from other currencies that use cents. Its predecessor currencies are the Trinidadian dollar and the Tobagonian dollar.

<span class="mw-page-title-main">Australian ten-dollar note</span> Current denomination of Australian currency

The Australian ten-dollar note was one of the four original decimal banknotes excluding the Australian five-dollar note, was issued when the currency was changed from the Australian pound to the Australian dollar on 14 February 1966. It replaced the Australian five-pound note, which included the same blue colouration. There have been four different issues of this denomination: a paper banknote; a commemorative hi-polymer note, to celebrate the bicentennial of Australian settlement ; the 1993–2017 polymer note; and from September 2017 a polymer note featuring a transparent window.

<span class="mw-page-title-main">Australian five-dollar note</span> Current denomination of Australian currency

The Australian five-dollar note was first issued on 29 May 1967, fifteen months after the currency was changed from the pound to the dollar on 14 February 1966. It was a new denomination with mauve colouration – the pre-decimal system had no denomination with a value of £212. The first polymer version of the note was introduced on 7 July 1992. A major design update was issued on 1 September 2016, with a minor update to the signatures in 2019.

<span class="mw-page-title-main">Philippine twenty-peso note</span> Banknote of the Philippines

The Philippine twenty-peso note (₱20) is a denomination of Philippine currency. It is the smallest banknote denomination in general circulation in the Philippines. Philippine president Manuel L. Quezon is currently featured on the front side of the note, while the Banaue Rice Terraces and the Asian palm civet is featured on the reverse side.

<span class="mw-page-title-main">Philippine one thousand-peso note</span> Currency denomination

The Philippine one thousand-peso note is a denomination of Philippine currency. It is the largest denomination in general circulation in the Philippines. It is currently the only Philippine peso denomination that has a polymer banknote version.

<span class="mw-page-title-main">Philippine ten-peso note</span> Former denomination of Philippine currency

The Philippine ten-peso note (₱10) was a denomination of Philippine currency. In its latest incarnation, Apolinario Mabini and Andrés Bonifacio are featured on the front side of the notes, while the Barasoain Church and a Blood Compact scene of the Katipuneros are featured on the reverse side. This banknote was circulated until the demonetization of main banknotes under the New Design Series on January 3, 2018. Its printing was stopped in 2001 and was replaced by coins.

<span class="mw-page-title-main">Philippine five-peso note</span> Banknote

The Philippine five-peso note (₱5) was a denomination of Philippine currency. Philippine president Emilio Aguinaldo is featured on the front side of the note, while the Declaration of the Philippine Independence is featured on the reverse side. This banknote was circulated until the demonetization of main banknotes under the New Design Series on January 3, 2018. Its printing was stopped in 1995 and was replaced by coins.

The New Generation Currency (NGC) Series is the name used to refer to the Philippine peso currency series conceptualized from 2007 to 2010, and banknotes issued since 2010 and coins issued since 2017. The series uses the Myriad and Twentieth Century typefaces.