Reserve Bank of Fiji issues non-circulating 88 cent note for Asian collectors

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The Reserve Bank of Fiji issued an 88-cent non-circulating banknote for collectors on August 8, which, although legal tender in Fiji, is intended for the numismatic market in China.

The bank issued 3.6 million coins, while Fiji, based on an interpolation of the latest United Nations census data, had a population of 910,249 as of August 12.

The note is the result of a collaboration between the Reserve Bank of Fiji, the printer De La Rue, Banknote World Ltd. and China Coin Industrial Co. Ltd. The note is available for purchase from the Reserve Bank of Fiji for $28 (US$12.72). ), and most of the marketing seems to be done through China Coin’s website, https://fiji88.com/, which offers a range of single notes and sheets of two, three, eight and 16 notes priced varied. from 88 to 1,988 yuan ($13 to $295).

The front of the note features a hibiscus flower, the Fijian coat of arms, the bank governor’s denomination and signature. It also features fluorescent features, intaglio printing and optically variable ink embossed on the hibiscus flower. There is also a multicolored watermark of the hibiscus flower and the denomination on the left side.

The back displays elements of Chinese culture – the God of Wealth holding a ruyi or jade scepter and a banner with the Chinese blessing “may prosperity be yours”, a money tree and various lucky coins – and the Bank of Fiji logo. The tree is visible in one color in daylight but changes to two colors under UV light. There are bold multicolored fluorescent features and yarn that has both motion effects and holographic colors. An iridescent band of various shiny gold coins and diamonds runs from top to bottom. Serial numbers have various prefixes and numbering sequences.

In Chinese culture, the God of Wealth blesses people with luck, happiness and prosperity. In Chinese, the number 8 is pronounced ‘fa’, similar to the word meaning ‘fortune’, and inspired the value of the 88-cent note and the release date of the eighth day of the eighth month of the year. According to legend, the money tree produces leaves and fruits in the form of golden coins which will immediately regrow if shaken from the tree.

A press release after the issue date from the Reserve Bank of Fiji was needed to counter the rumors and clarify that none of the banknotes would enter circulation. He said the $0.88 numismatic banknote was among hundreds of non-circulating numismatic coins the bank has produced for collectors since 1974. He likened the practice to philately. He also confirmed that “the numismatic banknote with a face value of $0.88 was created to be sold in the wider Chinese and Asian market”.

He added that ancient Fijian numismatic notes and coins, which covered themes such as Christmas, monuments, musicians and other celebrities, and wildlife such as Fiji’s birds, were a major source of income for the bank. . In the past three years alone, over $8 million in revenue has been generated for the bank through the sale of banknotes and numismatic coins.

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