First Australian banknote to fetch US$3.6 million

Australia’s first banknote, printed 100 years ago and found in a letter in England in 1999, has gone on sale for A$3.5 million (US$3.6 million), auctioneers said Wednesday.

Wednesday, 1 May, 2013, 11:00am

A significant withdrawal

Enormous distress has been caused throughout history by unbacked currencies and the massive inflation that follows.

29 Apr 2012 - 12:00am

Cost of living in spirit world on the rise

The stronger yuan is contributing to hyperinflation in the ghost world this Ching Ming festival.

4 Apr 2012 - 12:00am

Bank puts centenary notes sale act in order

The remaining 405,000 single HK$100 banknotes marking the Bank of China's centenary will be available for pre-order only at the end of next month after the mad rush for the bills saw sales halted two weeks ago.

This time, applications have to be made online or by handing in a special form at branches from March 26 to 31.

28 Feb 2012 - 12:00am

A penny for their thoughts

At its most basic level, money is the means to buy things, or the payment received in exchange for goods and services. But money is also highly conceptual.

A country's currency is no longer backed by gold held by its central bank. Instead, its value relies on a combination of government legislation, the economy it represents and trust - a concept known as fiat money.

27 Feb 2012 - 12:00am

Punters make a pretty penny from $100 notes

Bank of China (Hong Kong) commemorative centenary HK$100 banknotes issued this week have become a cash cows for Hongkongers and mainlanders.

Some buyers have made thousands of dollars in the past few days, after repeatedly queueing for tickets to buy a pair of banknotes at HK$150 each and selling them to dealers at more than five times the initial price.

16 Feb 2012 - 12:00am

Banknote frenzy forces rethink

Bank of China (Hong Kong) yesterday changed the arrangements for the sale of its commemorative HK$100 banknotes after tens of thousands of people besieged its branches across the city for a second day.

15 Feb 2012 - 12:00am

Hundreds queue for new-look $20 and $100 notes

Hundreds queued outside banks for redesigned HK$20 and $100 banknotes which went into circulation yesterday, with many people wanting to put them in lai see packets for the Lunar New Year.

The new HK$20 notes, from all three note-issuing banks, have improved security features.

New designs feature local festivals, Chinese heritage and the city's scenic spots.

12 Jan 2012 - 12:00am

Increase in fake banknotes, but quality is poor

A spate of poor-quality fake banknotes has pushed the number of counterfeit cash found in the city in the first nine months of this year well above last year's total, police said.

Police yesterday arrested a taxi driver and his girlfriend and seized 113 fake HK$100 and HK$50 notes with a face value of HK$5,900.

28 Oct 2011 - 12:00am

Desire for stability at heart of renminbi's foundation

The history of how the renminbi came to be China's official currency is a telling example of why the leaders in Beijing, even today, strive so hard to maintain stability.

Before the establishment of the communist-led government, the nation hadn't used one currency in more than a century, according to financial textbooks.

20 Oct 2011 - 12:00am

Fake HK$100 notes seized in raid on 'factory'

Twice as many counterfeit HK$100 banknotes have been seized this year, compared with the same period last year.

Most of them were made in Hong Kong, police believe, after arresting two suspected syndicate members.

Police seized 568 fake notes in the first five months of this year, compared with 273 in the same period last year and 625 over the entire year.

7 Jul 2011 - 12:00am

Seized fake yuan of higher quality than in 2008, police say

Police in Jiangsu province have seized a batch of counterfeit yuan notes that are of higher quality than the series of fake notes whose numbers began with HD90, first seen in 2008, state media reports.

26 Aug 2010 - 12:00am

Inflation hits everybody - dead or alive

Inflation is here: it's a fact in Hong Kong and could be eating its way into the underworld.

Those alive can never be sure about how things are six feet under, but many appear to think that their ancestors need more cash this year.

6 Apr 2010 - 12:00am

Hundreds queue for lai see cash

Hundreds queued outside banks yesterday to get new notes for their lai see packets.

Despite the environmental impact of printing new banknotes, customers still demand them.

3 Feb 2010 - 12:00am

Fake banknote withdrawn from cash machine

A counterfeit banknote smaller than a normal note was withdrawn from a Bank of China cash machine at University station last week.

Yesterday a businessman surnamed Yu said one of the 100 yuan (HK$114) banknotes, among 15 he withdrew from the automated teller machine (ATM), was a suspected fake, smaller, thinner and smoother compared with a real one.

22 Dec 2009 - 12:00am