Thursday, May 19, 2011
Malaysia 2007 $50 Commemorative Banknote With Folder
***In 2007, the, then, new RM50 banknote was issued with a commemorative cover & folder to the general public at the issue price of RM60 with the total quantity issued at 20,000 pieces.
Since then, its price has progressively shot up to as high as RM550 a piece for those with 2 zeroes.
Many sellers and collectors alike actually made themselves believe that the value of this note has shot up.
But, what really happened was that 1 rich collector was on a buyer spree for this note and was buying as many as possible at the range of RM500 to RM550 each.
The buying has stopped. But many owners of this note think otherwise and many still want to sell at high & ridiculous prices.
As it is now, trying to sell 1 piece at RM500 already seems so difficult as it is way, way overvalued & oevrly speculative.
Some apologists argue that 20,000 pieces is a small number. But then, what about the 30-in-1 RM5 notes with a total issue of 3,000 pieces whose price is never above RM600 each, with the original issue being RM400? Smaller issue but shitty price.
But with the impending issue of the new Limited Edition banknotes featuring 6 new banknotes of RM1, RM5, RM10, RM20, RM50 & RM100, all bearing the same serial numbers, would the price of the 2007 issue not collapse?
Would you still prefer to pay RM500 for the 2007 issue or would you prefer to pay RM500 or even more for the new 6-piece Limited Edition notes?
If you choose the latter, that means the single piece RM50 note is overpriced and a 'correction' might be long overdue.
It took 4 years from 2007 to 2011 for the RM50 Merdeka Folder banknote to rise from RM60 to RM550. I don't think it needs 4 long years to spiral downwards pricewise.