Understanding the Value and Redemption Process of CommemorativeNumismatic Currencies in Singapore

Find below information about how the market value of commemorative and numismatic currencies is determined and how you can redeem their face values.

Market Value Determination

The market value for commemorative and numismatic currencies hinges on several factors:

1. Condition: The physical state of the note or coin, including wear, damage, or any signs of use.

2. Theme: The subject matter or event depicted in the currency which can influence its appeal to collectors.

3. Rarity: The number avlable compared to other issues, making rarer ones more valuable.

4. Uniqueness of Design: Special features such as exclusive designs can elevate the worth.

5. Demand and Supply: Collectors' interest versus how many are avlable drives market prices.

To obtn these values:

• Consult with banknote and coin dealers or the Singapore Mint to gauge their worth in the market.

Be aware that appreciation over time is not guaranteed, nor does it assure easy resale at original purchase price on secondary markets. Nonetheless, you can still redeem the face value by depositing them into banks or through MAS.

Note: As the issuing authority for currency, the Monetary Authority of Singapore MAS does not participate in secondary market transactions for commemorative currencies.

Redeeming Face Value

For Notes

To redeem your note's face value:

• Approach any commercial bank where you have an account. The bank will authenticate the note before crediting its value to your account.

  • If no local Singaporean account, make a schedule via the MAS Feedback Form for an appointment at the MAS Currency House with identification ID card or passport, and your bank passbook or statement avlable on the day.

At the appointment:

• The authenticity of notes is verified by MAS.

• Value assessment begins; it might be converted to SGD when deposited into an SGD account under your name, or to a foreign currency in your preferred account after deducting applicable fees.

For Coins

Options for redeeming coin face value include:

1. Certis Cisco Secure Logistics Pte Ltd CSL: MAS's appointed Circulation Coin Operator and Manager CCOM. The face value is credited via bank transfer to your designated local Singaporean account.

   • If you don't have a local Singaporean account, the amount will be converted into your preferred foreign currency before being transferred.

2. Singapore Mint: Another appointed numismatic coin contractor for redeeming transactions.

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• Last updated: December 13, 2023.

This article is reproduced from: https://www.mas.gov.sg/currency/commemorative-and-numismatic-currency/redeeming-commemorative-and-numismatic-currency

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