The First Post GST Banknote & Coin Auction by MNP Auctioneers

MNP Auctioneers 14 Jun 2015 Catalog
Fig 1 : Catalog Cover Page
This has been an eventful year when it comes to banknote and coin auctions in Malaysia. We've had several high profile public auctions from Trigometric and Bank Negara Malaysia (BNM) in the earlier part of the year but that was BEFORE the "Goods & Services Tax" or GST came into effect on 1 April 2015. MNP Auctioneers auction series 2/2015 will be the FIRST public auction of collectibles after the GST and collectors, dealers and market watchers are all waiting to see what is going to happen.

The results of public auctions is considered a barometer of sorts of the strength of the local market and a reasonably good indicator of what's hot and what's not.  The good news is that GST is imposed ONLY on the buyer premium, not the hammer price of the lot. So if you add 6% on top of the 15% buyers' premium, the effective rate is 15.9%. Not too bad actually and I do not think this will cause a hold back on the part of the bidders.

For MNP Auctioneers, this will be their first public auction held in Kuala Lumpur. They were contracted by Bank Negara Malaysia to run the Central Bank's auctions, so that would be considered BNM's auction rather than MNP's own. Their first for 2015 was held in Penang on 11 January 2015, with 50 lots of coins and 60 lots of banknotes. Base on the realized prices from MNP, 53 items were sold out of 110. Of that 53, 18 lots were coins and 35 lots were banknotes, that's a hit ratio of 36% and 58.3% respectively, overall hit ratio was 48%. We're waiting to see how the one in Kuala Lumpur will go. If the total number of collectors in the capital city of Malaysia is anything to go by, we can expect a bigger turn out at this event.

The Banknote Book by Owen Linzmayer

The value of having a good catalog as a guide in building your banknote or coin collection cannot be underestimated. Not having one is akin to driving blind folded. For the past few decades Krause Publication's "Standard Catalog of World Paper Money" or SCWPM series of banknote catalogs has been the "go to" book for every world banknote enthusiast. So much so that one cannot be considered a serious banknote collector if he/she does not posses at least one copy of the SCWPM on his/her bookshelf! After all, SCWPM has been around since 1961, it boasts a whopping 21,000 items in their listing with 13,750 banknotes illustrated.  Given its long history, the dominance of SCWPM as the leading authority in banknote catalogs has been undisputed, until now.