Market Value of Commemorative and Numismatic Currencies
The market value of commemorative and numismatic currencies is determined based on the following factors:- Their condition.
- Their theme.
- Their rarity.
- The uniqueness of design.
- The demand and supply among collectors.
- (For coins) The metal composition.
You may approach banknote and coin dealers or the Singapore Mint to find out the market value of your commemorative and numismatic currency. There is no guarantee that such banknotes and coins will appreciate in value over time or can be easily sold at their purchase price in the secondary market. Nevertheless, the banknotes and coins can be redeemed at their face value when deposited with the banks or MAS.
Note: As the currency-issuing authority, MAS does not participate in secondary market transactions of commemorative currencies.
Redeeming Face Value of Commemorative and Numismatic Currencies
If you wish to redeem the face value of your commemorative and numismatic notes and coins, refer to the following to find out what you can do:
For Notes
If you wish to redeem the face value of your commemorative and numismatic notes, you may approach any commercial bank in Singapore where you have a bank account. The bank will verify the authenticity of your notes before crediting the value into your bank account.
If you do not have a Singapore bank account, you will have to make an appointment via the MAS feedback form to visit the Monetary Authority of Singapore (MAS) Currency House. You will have to bring your identification documents (such as your identity card or passport) and your bank passbook or bank statement on the day of your appointment.
MAS will verify the authenticity and assess the value of your commemorative notes. The value of the notes will be converted into your preferred currency and credited into your foreign bank account after deducting the applicable bank charges.
Note: The bank account to be credited to has to be under your name. You will have to provide the IBAN number, swift code and any other necessary information to facilitate the process.
For Coins
If you wish to redeem the face value of your commemorative and numismatic coins, you may approach either of the following organisations:
- Certis CISCO Secure Logistics Pte Ltd (CSL) , MAS' appointed Circulation Coins Operator and Manager (CCOM).
The face value of the coins will be credited to your designated bank account in Singapore via bank transfer. If you do not have a Singapore bank account, the amount will be converted into your preferred currency and credited into your foreign account after deducting the applicable bank charges.
- The Singapore Mint , MAS’ appointed numismatic coin contractor.