demonetize [gelöst]

Good day! Do you know when they demonetized the 10 ringgit? Can you please respond as soon as possible? I have a lot of questions to ask. I appreciate your consideration. 

From where did you hear that this RM10 note has been demonetised? As far as I know, they are still legal tender, including all issued since 1967, just like those currencies issued in Singapore and Brunei since 1967. I have more than 100 pieces of this RM10, but not all in UNC condition, unfortunately.

However, since the Asia financial crises in the late 90s, Malaysia currency (cash) are not convertible outside the country and trading this currency like telegraphic transfer etc can only be done via certain banks.

The only notes that are not legal tender are the RM500 and RM1000. If you have them, especially in UNC condition, it is worth more than gold as there is a huge demand in Malaysia in that condition.

Please feel free to share the news if you think this RM10 is no longer legal tender.

Thanks

Last I checked MRI all notes by the Bank are redeemable. Older notes may not be easy to exchange outside the country however

As a Malaysian, I can confirm to you that the current RM10 notes haven't been demonetised, however N#214956 (RM10 without holographic foil) was withdrawn from circulation long time ago.

Ditarik balik = Withdrawn. Dalam edaran = Circulating. Local sellers won't accept it, but “foreigner” sellers and some “blur” local sellers will accept it. I don't think ATM machines will accept these withdrawn banknotes. Extremely rare to get this banknote, I got it once a decade ago. 

Withdrawn from circulation, but still accepted by commercial banks?

Too rare to get it on hand, so I don't know. Most probably the bank will accept it, as this banknote is not declared as “tidak sah diperlakukan/not legal tender” . They will gladly accept it and give it to BNM to destroy it  😂 or the bank teller will keep it.

Since we are on the topic, are the gold colored 1 ringgit coins still redeemable or are they completely worthless?

Worthless. https://www.bnm.gov.my/-/withdrawal-of-the-rm-1-coin-from-circulation 

Thank you, interesting as I saw a forum post of someone able to deposit them into their account in 2024. Fortunately they are not worth much

melyou2002

Too rare to get it on hand, so I don't know. Most probably the bank will accept it, as this banknote is not declared as “tidak sah diperlakukan/not legal tender” . They will gladly accept it and give it to BNM to destroy it  😂 or the bank teller will keep it.

I was going to ask the question, Withdraw and demonetised are not the same. Some years ago, a family's friend who was working in a bank in Singapore came across about S$500+ all from the first Orchard series. An elderly customer walked into the bank and wanted to change them all into the current Singapore banknotes series. This friend kept it all for us and I got most of it. All notes are $50 denominations, and of course, they are all in circulated condition, but still in very good condition.

I have some of these RM1 gold-colored coins, about 30+ pieces, most of them are in BU condition, plus one fake. I believe there was a lot of counterfeiting ones circulating in the economy then. Please correct me if I am wrong.

melyou2002

As a Malaysian, I can confirm to you that the current RM10 notes haven't been demonetised, however N#214956 (RM10 without holographic foil) was withdrawn from circulation long time ago.

 

I had a look on eBay, they seem to be easy enough to get, or do you mean there is a certain year that is rare?

MALAYSIA - 10 RINGGIT ND(1997-) UNC P 42c | eBay UK

There is no year date printed on Malaysia ringgit. There are 4/5 varieties for this series

Ahmad Mohd Don - vertical (left hand side) signature (nd1997)

Ali Abdul Hassan Sulaiman - vertical signature (nd1999)

Ali Abdul Hassan Sulaiman - normal signature

Zeti Akhtar Aziz - normal signature (nd2001)

Obviously, those earlier prints are a bit more expensive, especially for those with vertical signatures.

odd job

melyou2002

As a Malaysian, I can confirm to you that the current RM10 notes haven't been demonetised, however N#214956 (RM10 without holographic foil) was withdrawn from circulation long time ago.

 

I had a look on eBay, they seem to be easy enough to get, or do you mean there is a certain year that is rare?

 

MALAYSIA - 10 RINGGIT ND(1997-) UNC P 42c | eBay UK

Local dealers hoarded it probably.