Monday, September 28, 2009

Odd denomination Hong Kong Dollar

Its been a long time since i write something but i guess i should now,well you must be reading this then

Recently the Standard Chartered Bank of Hing Kong decided to issue this odd denomination of 150 dollars to celebrate their 150th anniversary in Hong Kong which would definitely make its way into the list if wierd denominations of currencies in the world as its the first bill to have this denomination.
Fot thise who dont know where Hong Kong is,well its the little tiny island right off China,well then lets know more about this note.Standard Chartered bank has has printed 1 million of the 150-Hong-Kong-dollar notes, worth $19.35 each,that price stated is the face value.The price the banknis selling them for is much higher since theyre first in the world,150th anniversary and few other factors i guess,so theyre selling it for HKD280.A markup which is not too high and 1 million of these notes have been printed for sale.

The bank has invited people to apply for the new notes from Wednesday, offering them as collectors items with prices of 280 Hong Kong dollars each and up. Some notes bearing what are considered lucky serial numbers, such as 888888, are to be auctioned in October with a minimum bid of 3,000 Hong Kong dollars per note.

Money from the sale of the notes is to go to local charities in what Standard Chartered has described as a "creative tribute" to the people of Hong Kong. Standard Chartered began operations in Hong Kong in 1859, six years after it was founded, and is the oldest of the three note-issuing banks in the city. The other two are HSBC Holdings Plc and the Bank of China Ltd.