21 Feb '16, 3pm

Uh oh, turns out nobody wants these SG50 commemorative notes anymore

Uh oh, turns out nobody wants these SG50 commemorative notes anymore

From “Limited Edition” to “I don’t know what to do with these notes, please don’t give them to me”, it seems nobody these days wants a piece of the SG50 commemorative notes anymore. The Business Times landed a scoop on Feb. 19, 2016, reporting that not only are the S$10 and S$50 commemorative notes to mark SG50 not wanted by the public, there is an oversupply of some 54 million pieces that have yet to be put into circulation. Check out these numbers: SG50 S$50 notes: 20 million pieces printed, six million put into circulation (About two-thirds still available) SG50 S$10 notes: 75 million pieces printed, 32 million put into circulation (Less than half have been released) This means only 40 percent of SG50 notes have been issued since they were unveiled last August by the Monetary Authority of Singapore. And it turns out, the spike in demand initially was nothing more than a...

Full article: http://mothership.sg/2016/02/uh-oh-turns-out-nobody-wants...

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