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Auction: 24009 - World Banknotes
Lot: 326

(x) Board of Commissioners of Currency, Malaya, 1 Dollar, 1st January 1940, serial number A/8 056770,
this series of banknotes carries a fascinating story linked to British efforts to manage their Southeast Asian colonies and the geopolitical landscape of World War II. These notes were the first Malayan issues, replacing the Straits Settlements dollar. They feature King George VI on the obverse and the coats of arms of the Straits Settlements, the four Federated Malay States, the five Unfederated Malay States, and Brunei on the reverse.

In anticipation of a possible invasion of Malaya, the British ordered the printing of vast amounts of Malayan dollars to maintain liquidity and ensure that local economies could function. In 1942, during the height of the Japanese invasion of Southeast Asia, a ship carrying a significant portion of these newly printed Malayan dollars was lost at sea. The ship was either sunk by Japanese forces or scuttled to prevent the valuable cargo from being taken by the Axis powers.

Another shipment of the notes had been reportedly seized by German forces, though this has not been officially verified. In 1945, the remaining notes were either overprinted or destroyed due to concerns that the lost shipments had made their way into enemy hands. As a result, finding an issued note without an overprint, such as the one we offer here, is a rare find in any grade!

(Pick 4b, BNB 101), in PMG holder 50 About Uncirculated, staining, only one note in a higher grade on PMG Census

Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium.

Estimate
£12,000 to £18,000