The Portrait Series of currency notes is the fourth and current set of notes to
be issued for circulation in Singapore. It was first introduced on 9 September
1999 by the Board of Commissioners of Currency Singapore, whose role was since
taken over by the Monetary Authority of Singapore post-merger.
This series features the portrait of Yusof bin Ishak, the first president of
Singapore. The design has been simplified and new security features
were introduced. Polymer versions of this series were released for general
circulation by MAS as of 4 May 2004. History
The Portrait Series was first released by the Board of Commissioners of
Currency Singapore on 9 September 1999 to welcome the new millennium, designed
by local artist Eng Siak Loy. The series has a total of seven denominations in
general circulation; the denominations $1 and $500 were not carried forward
from the previous Ship Series. The colour for denominations up to $50 have
been retained, a tradition kept since the era of the Malaya and British Borneo
dollar. A more standardised approach is adopted across all banknote
denominations, with features noticeably differing from all previous series. For
example, the watermark no longer features the lion head symbol. Due to
design considerations, the dollar sign was considered redundant and is no
longer included in this series. In addition, the note printing company no
longer appears on any part of the portrait note.
On 31 March 2003, the BCCS merged with the Monetary Authority of Singapore,
which took over the responsibility of banknote issuance. On 4 May 2004, the
MAS started issuing polymer versions of the S$10 note for general circulation;
polymer versions of the S$2 and S$5 notes were subsequently released. Higher
denomination banknotes are still printed on paper. The paper version of the lower
denomination banknotes remain in active circulation alongside the polymer
version, though the number of S$2 and S$5 paper notes have dwindled
significantly since the introduction of polymer notes.
Security features Previous security features in the Ship
Series were carried over to the Portrait Series, and new ones incorporated into
the banknote. The two most prominent security features are the engraved
portrait of Yusof bin Ishak and the Kinegram; MAS states that banknotes with
missing or mutilated portrait or/and Kinegram command no value. Paper
versions issued by BCCS features its logo and the face value, while those
issued by the MAS features its logo with the Merlion and the face value. Polymer
versions of the banknote have the Kinegram replaced by an image of the
Singapore lion symbol with the face value, showing the coat of arms of
Singapore when tilted at varying degrees.
Other security features include lithographic print, anti-copying line
structures, perfect registration, microprinting, asymmetrical serial
numbers and windowed security threads. Polymer versions of the banknote include
two clear windows and other security features that substitute its paper
version. Several features that are invisible to the naked eye appear when
both versions of the banknote are exposed under UV light.
Banknotes in general circulation The banknote's obverse features the
portrait of the first president of Singapore, Yusof bin Ishak, and the
reverse contain secondary themes that are linked to his life. The background
on the obverse of the Portrait Series feature a different cowrie for each
denomination. Signatories include BCCS chairman Richard Hu, Prime Minister Lee
Hsien Loong, former Prime Minister Goh Chok Tong and Deputy Prime Minister and
MAS chairman Tharman Shanmugaratnam. = $2 banknote =
The money cowrie is featured on the obverse background of the $2 banknote.
Its reverse carries the theme of education and features three buildings,
the Victoria Bridge School, Old Raffles Institution Building at Bras Basah Road,
and College of Medicine Building. Yusof received his primary education in 1923
at Victoria Bridge School, and his secondary education in Raffles
Institution; His father, Ishak bin Ahmad insisted that his children be
English-educated. He was also the Chancellor of the National University of
Singapore between 1965 and 1970. = $5 banknote =
The gold-ringed cowrie is featured on the obverse background of the $5
banknote. Its reverse carries the theme of Garden City and features the
200-year-old tembusu tree at Singapore Botanic Gardens, as well as Singapore's
national flower Vanda Miss Joaquim. Yusof was a keen-gardener who once made
a living growing Orchids in Gombak, Kuala Lumpur before his appointment as
president. = $10 banknote =
The wandering cowrie is featured on the obverse background of the $10 banknote,
the most-commonly found cowrie in Singapore. Its reverse carries the theme
of sports and features sportsmen playing badminton, soccer, sailing, jogging and
swimming. Yusof was an active sportsman in his secondary school days, and won
the national boxing title and the lightweight weightlifting championship.
The $10 banknote was the first denomination in the series printed in
polymer. 10 million bills were first released to the general public as a
trial, and were the first in Singapore to be successfully dispensed from
Automated teller machines and be used in payment involving machines. With the
successful trial, MAS decided to release polymer versions of the $2, $5 and $10
for circulation. = $50 banknote =
The cylindrical cowrie is featured on the obverse background of the $50
banknote. Its reverse carries the theme of arts and features two paintings and
four musical instruments. The pipa, kompang, veena and violin represent the
musical instruments for different cultures in Singapore. Cheong Soo Pieng
and Chen Wen Hsi are two artists who created a new type of fine arts in
Singapore that influenced other local artists, in which their two paintings
are featured. = $100 banknote =
The swallow cowrie is featured on the obverse background of the $100 banknote.
Its reverse carries the theme of youth and features a National Service officer
with his ceremonial sword standing against the tower of the SAFTI Military
Institute, uniformed youths representing Singapore Red Cross, St John's Ambulance
Brigade, Singapore Scout Association and the National Police Cadet Corps.
= $1,000 banknote = The swallow cowrie is featured on the
obverse background of the $1,000 banknote. Its reverse carries the theme
of government featuring the buildings of the three branches of government: The
Parliament House, Old Supreme Court Building and Istana, representing the
Legislative, Judiciary and Executive powers respectively. The Istana is the
president's official residence, built in 1869 which first housed the colonial
governor. The entire national anthem's lyrics are included as microprint, which
is a unique feature to the $1,000 banknote.
= $10,000 banknote = The onyx cowrie is featured on the
obverse background of the $10,000 banknote. Its reverse carries the theme
of economy featuring Singapore as a knowledge-based economy – biotechnology,
R&D and silicon wafer. Yusof was a businessman who started the first Malay
newspaper for the masses, Utusan Melayu. It is one of the highest-value banknote
in the world in terms of absolute value that is in public circulation. Even
though larger denominations being withdrawn around the world, the MAS has
retained the use of the $10,000 denomination, which continues to account
for a significant value of the total cash currently in circulation. MAS has
stopped issuing new $10,000 banknotes from October 2014, though existing
banknotes are still in active circulation and remain legal tender.
Commemorative banknotes = Millennium $2 banknote =
In celebration of the Millennium 2000, five million $2 bills were printed with
the Millennium 2000 logo replacing the prefix of the serial number normally
found in other notes under general circulation.
= Overprinted banknotes = Three commemorative limited issues have
been made for the Portrait Series. 10,000 sets of the $10 polymer was
issued with the overprint 'Commemorative First Issue by MAS' with the prefix MAS.
5,000 sets of $50 banknotes signed by PM Lee Hsien Loong have been stamped with
overprint commemorating the merger of the BCCS and MAS.
= $20 banknote = On 27 June 2007, the governments of
Singapore and Brunei celebrated the 40th anniversary of the Currency
Interchangeability Agreement by issuing commemorative $20 notes, that are
yellow, 149 × 72 mm in size, and made of polymer. The obverse of the Singaporean
version is similar to the current Portrait Series, whereas the obverse of
the Brunei version is similar to the $50 and $100 of the 2004 series. The
reverses are almost identical except that the Brunei version has their state
title in Jawi script, while the Singaporean version has the state title
of Brunei in Latin script. A limited edition set was offered for
sale, which consisted of both versions in a folder, with matching serial
numbers. The notes have "40th Anniversary Currency Interchangeability
Agreement" overprinted on the obverse side. In addition, the Singaporean
version has the two countries' state crests above the commemorative text.
Only 12,000 sets were available, 10,000 from the Monetary Authority of
Singapore, and 2,000 from the Brunei Currency and Monetary Board. The
circulation version was made available from 16 July 2007.
= SG50 banknotes = Five $10 and one $50 polymer
commemorative banknotes will be available from 20 August 2015. They are
part of Singapore's Golden Jubilee celebrations. 20 million pieces were
printed for the $50 commemorative SG50 banknote, while 15 million pieces of
each $10 commemorative SG50 design banknote were printed.
Specifications Notes and references
External links Portrait Series