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Auction: 403 - World Banknotes at NY INC
Lot: 403

Board of Commissioners of Currency, Malaya, colour trial specimen 1000 Dollars, 1942 (ND 1945),

in the late 1930s, British Malaya faced a fragmented currency system, where various banks issued their own notes, creating confusion and inefficiencies in financial transactions. As the region's economy grew, it became clear that a unified monetary authority was needed. In response, the Malaya Currency Ordinance of 1938 established the Board of Commissioners of Currency, Malaya, tasked with consolidating the issuance of currency under a single entity. This marked a significant step toward creating a stable and reliable monetary system. Among the denominations issued by the Board was the $1,000 note, introduced as part of the effort to standardise the currency system across the region. Though not the highest denomination, it served its purpose within the broader framework of Malaya's monetary system, circulating alongside other notes to support the region's growing economy. However, the onset of World War II and the Japanese invasion in 1942 brought significant disruptions to Malaya's financial system. Despite these challenges, the foundational work laid by the Board remained influential, helping to shape the region's monetary policies even in times of turmoil.

blue-grey, green and multicoloured, value at centre, George VI at right, value at left and at centre, reverse pink-red, arms of the 11 Federated States at centre, at left and at right, value left and right centre, two cancellation holes, red Bradbury Wilkinson seal at low right at either front and reverse,

(Pick 16cts, KNB 29CT, BNB 117at, Tan M16ct, Goon p.241), in PMG holder 61 NET Uncirculated, printer's annotations, thinning

Estimate
$30,000 to $50,000

Starting price
$30000