Money means many things to collectors

Money means many things to collectors

Katalog Uang Kertas Nusantara 1995 (Catalog of the Banknotes of
the Indonesian Archipelago 1995)
Compiled by Lo Khing Kiong, et al
Published by Astra Mitreka, Surabaya
265 pages

JAKARTA (JP): The launching of the new Rp 50,000 and Rp 20,000
banknotes on Aug. 28, 1995, may just be a normal event for
laymen. But these banknotes, signed by Bank Indonesia Governor
Soedradjat Djiwandono, are a welcome addition for collectors.

The new Rp 20,000 and Rp 50,000 bills are the 103rd and 104th
paper notes respectively. If we include the Oeang Repoeblik
Indonesia (normally referred to as ORI), the Republik Indonesia
Serikat (RIS, United Republic of Indonesia) series and the
banknotes of West Irian and Riau, the two new banknotes are
ranked 147 and 148.

For most of us money is only a means of exchange. We seldom
pay much attention to the money we hold in our hands or keep in
our wallet. What matters is its nominal value. We do not concern
ourselves with the pictures, the figures, the animals or the
traditional houses printed on both sides of the paper money. If
we have to change old money for new notes, we rush to change all
the money in our possession at the bank. It is therefore not
surprising that we don't have any old banknotes left.

For Lo Khing Kiong, Kusman Wongsodihardjo, Markus Sajogo, and
Ibu Djatilaksono, money, especially paper money, is more than
just a legal tender, it is a hobby. Their collections, which
trace the development of Indonesian paper money, formed the basis
of Katalog Uang Kertas Nusantara 1995 (Catalog of Banknotes in
the Indonesian Archipelago 1995).

Since the VOC

The catalog contains photographs of banknotes -- reduced to 50
percent from their original in size -- from before and since
Indonesia's independence in 1945. Banknotes from the VOC
(Vereenigde Oost-Indische Compagnie) era since 1782 (pp. 1-3),
banknotes from the Dutch East-Indies era (pp. 4-80), and
banknotes from the Japanese occupation period (pp. 81-96) are all
cataloged.

The notes from after independence are divided into a number of
series: the Oeang Repoeblik Indonesia (RI Money, 32 banknotes;
pp. 97-128), the Republik Indonesia Serikat (United Republic of
Indonesia series, two banknotes; pp. 129-130), the Irian Barat
(West Irian) series (5 banknotes; pp. 181-185), the Riau series
(5 banknotes; pp. 186-190), and the Republic of Indonesia series
(102 banknotes; pp. 131-180 and 191-242).

The photos give a good idea of how the banknotes looked
because the photographs and pictures show the original colors and
both sides of the money. The notes issued after Indonesia's
independence also list the signatories of the money, usually the
governor of Bank Indonesia.

At present there are only seven notes in circulation: Rp 100,
Rp 500, Rp 1,000, Rp 5,000, Rp 10,000, Rp 20,000 and Rp 50,000.
This catalog illustrates paper money denominations which seem odd
to us now, including one cent (1964; p.196), 5 cents (1964;
p.197), 10 cents (1964; p.198), 25 cents (1964; p.199), 50 cents
(1964; p.200), Rp 2.50 (1951; p.132), Rp 25 (1959; p.167) and Rp
75 (1948; p.117). The oddest among the denominations were perhaps
Rp 400 (Aug. 23, 1948; p.119) and Rp 600 (Aug. 23, 1948; p.120).

The catalog transports you past Indonesia's first official
currency to look at the VOC era in 1782. It outlines so many
kinds of paper money that you may regret not having saved some
old banknotes. However, you can buy old money at numismatic
shops. They are expensive, of course, far above their nominal
value at the time of their circulation.

Currently, four denominations of Indonesian paper money are
valued at more than Rp 1 million. Indonesian paper money of Rp 10
and Rp 25 circulating in 1957 and signed by Sjafruddin
Prawiranegara and Sabarudin, governor and director of Bank
Indonesia respectively (pp.147-148) now sell for Rp 3 million a
piece. There are other denominations of old money which fetch
higher prices.

ORI series

The ORI series with a nominal value of Rp 600, issued on Aug.
23, 1948, and signed by Vice President Mohammad Hatta, goes for
Rp 4 million. The highest price is obtained by the uncirculated
Rp 5,000 note issued in 1957, and signed by Sjafruddin
Prawiranegara and Sabarudin. It is now estimated to be worth Rp
10 million.

"Although rare money is old money, it is not certain that old
money is rare. However, old money tends to increase in price,
because it is not produced any more," states Markus Sajogo in the
introduction (p.V).

The book also informs us that although President Soeharto has
held the post since March 27, 1968, it was only in 1993 that his
portrait appeared on the Rp 50,000 denomination (signed by
Adrianus Mooy and Hasudungan Tampubolon, governor and director of
Bank Indonesia). It was used again on the new paper money issued
on Aug. 28, 1995.

The book also states that the Indonesian government doesn't
issue new notes each year. Between 1974 and 1995 it did not issue
any new paper money. In 1960, the government issued 15 notes and
in 1964 it issued 14 notes.

Index

Regrettably the book has no index and that not all the
figures, pictures and illustrations are explained. Moreover, the
format of Indonesian money is not mentioned at all.

Having the notes printed in their original size and additional
information explaining why the RIS series (1950; 2
denominations), the Irian Barat series (1960-1961; 5
denominations), and the Riau series (1960-1961; 5 denominations)
were issued would also have been beneficial.

-- Pamusuk Eneste