Wednesday, August 31, 2011

At an Australian Auction, $20,000 Sells for $21,350

At Left: Denis Beaubois's "Currency" (2011) (Photo: Deutscher and Hackett)

By Andrew Russeth
New York Observer

How much would you pay for $20,000 Australian dollars? (That’s about $21,000 in U.S. dollars.)

Last night, at an auction at the Deutscher and Hackett house in Melbourne, Australia, a bidder decided he or she was willing to spend $21,350 Australian dollars (or about US$22,900) for just that sum, a $1,350 Australian (or roughly US$1,900) surplus over the actual value of the money.

The lot was, in fact, a work of art, composed of nothing but money–two bundles of crisp new $100 Australian banknotes–that was made by Australian Conceptual artist Denis Beaubois. The work’s title: Currency (2011).

“I thought there was a strong chance it would go for below [$20,000],” Mr. Beaubois told The Australian, “because there’s a lot of suspicion with the work, but it’s also interesting it went for above the financial worth.” The house had estimated its value at $15,000 to $25,000.

Also interesting is the fact that the work actually hammered for less than its full $20,000 sum, at just $17,500: the $21,350 figure includes the addition of a 22-percent buyer’s premium, which is typically paid to the auction house. In other words, Mr. Beaubois actually lost money.

Currency- and money-related artworks–which have a grand tradition, to artists like Marcel Duchamp, Cildo Meireles, Ed Kienholz, The K Foundation and others have contributed–are having something of a moment. Earlier this year, the German artist Hans-Peter Feldmann also made a work out of nothing but money (and, admittedly, metal pins), hanging 100,000 one-dollar bills, his total financial reward for winning the 2010 Hugo Boss Prize, on the walls of the Guggenheim in New York.

However, unlike Mr. Beaubois, Mr. Feldmann plans to keep his money after the exhibition closes on Nov. 2.

Peru Launches New 50, 100 and 200 Sole Notes

Peru's Central Reserve Bank (BCR) on Wednesday put in circulation the new edition of S/.50, S/.100 and S/.200 bills, which will circulate simultaneously with the old designs, in order to provide a smooth transition.

These new banknotes feature designs that increase money security and prevent counterfeiting.

The new 50 soles bill is mainly chestnut color and features Peruvian writer Abraham Valdelomar on the front, while the other side features the New Temple of Chavin de Huantar Culture.

The new 100 soles bill is blue color and depicts Peruvian historian Jorge Basadre and the Great Pajaten from the Chachapoyas Culture (San Martin).

The new 200 soles bill is mainly grey and features Peruvian saint Santa Rosa de Lima, while the other side features the Sacred City of Caral, located in Lima.

Pictures courtesy of Claudio Marama

Tuesday, August 30, 2011

Macao to Issue 10 Patacas Year of the Dragon and 100 Patacas Bank of China Centennial Commemoratives in 2012

Bank of China and Banco Nacional Ultramarino plan to issue 10 patacas banknotes to commemorate the Year of the Dragon in 2012. In addition, Bank of China also plans to issue a 100 Patacas banknote next year to commemorate its Centennial.

Bank of China 10 Petacas 2012
Year of the Dragon Commemorative


Banco Nacional Ultramarino 10 Petacas 2012
Year of the Dragon Commemorative


Bank of China 100 Patacas 2012
100th Anniversary of the Bank of China Commemorative


Info and pictures courtesy of Claudio Marana.

Thursday, August 25, 2011

Philippines Issues New 100 Pesos Ateneo Law School Commeorative Banknotes

Philippines has issued a new 100 Peso note to commemorate the 75th Anniversary of the Ateneo Law School. The deign looks similar to the 100 Pesos University of the Philippines College of Law Centennial commemorative released earlier this year but with the black University of the Philippines College of Law seal replaced by a blue ATENEO LAW SCHOOL overprint on the left.
Ateneo Law School 75th Anniverasry commemorative

University of the Philippines College of Law Centennial commemorative

Info courtesy of Claudio Marana

Thursday, August 18, 2011

IBNS Bank Note of the Year - Banknote of 2010 Winner

The IBNS Banknote of the Year award is an initiative of the The International Bank Note Society (IBNS) to recognize an exceptional banknote issued during the prervious year. This year, for the first time, the award was decided by a popular vote by members of the IBNS, rather than by a committee. The winner is Uganda 50,000 Shilling note, issued on May, 2010.

Front: "Stride Monument" at the left, Bwindi tropical rain forest at the center left, a foil strip with the denomination and images of shields at centre right and an area for the watermark at the far right. The Stride Monument was erected to celebrate the Commonwealth Heads of Government Meeting held in Kampala in 2007. Depicting a husband, wife and son stepping forward, the monument symbolizes the countries of the Commonwealth progressing as a family.

Back: Silver back mountain gorillas

Costa Rica New Series of Banknotes

Banco Central de Costa Rica has announced that the 5,000 and 10,000 Colones of the new series will start circulating this November. So far 3 denominations of the new series are already in circulation. The 20,000 Colones began circulating on 22 September 2010; the 1,000 and 2,000 Colones started out on 20 June 2011. The release date of the last denomination in the series, the 50,000 Colones, has yet to be announced.

Braulio Carrillo Colina; Shield of the State of Costa Rica

Dry Forest Species Highlights: Guanacaste Tree Pitahaya White Tail Deer

Mauro Fernández Acuña; Girls' College

Coral Reef Species Highlights: bull shark Starfish Sea Pens

Alfredo González Flores; International Bank

Mangrove Species Highlights: monkey-faced red mangrove crab fishing

José Figueres Ferrer; Abolish Army

Rainforest Species Highlights: Three-toed Sloth Orchid Mushroom Cup

Maria Isabel Carvajal "Carmen Lyra"; Pictures tell my aunt Panchita

Páramo Species Highlights: Hummingbird Spark Grass or papelillo

Ricardo Jimenez Oreamuno; Supreme Court

Cloud Forest Species Highlights: Morpho Butterfly umbrella Hongo Bromeliad

Monday, August 15, 2011

Azerbaijan Manat Turns 19

Mon 15 August 2011

Today marks 19 years since national currency manat was first put into circulation.

1, 10 and 250 manat banknotes were put into circulation in August 1992, 5, 10, 20 and 50 qapik coins – in November, 5 manat banknotes – in December and 50, 100, 500 and 1,000 manat banknotes – in March 1993.

The first cash money of Azerbaijan was first emitted by the Central Bank of France in 1992.

New generation of banknotes and coins were put into circulation from January 2006 under the presidential decree “On changing nominal value of coins and banknotes and denominations” dated 7 February, 2005.

One new manat was equaled to 5,000 old manat under the current denomination.

Economic expert Vugar Bayramov says exchange rate of manat against dollar is expected to fall by the end of the year.

The Central Bank will maintain cost of manat against dollar, he added. But, unfortunately, this does not contribute to manat’s role in the region. Manat has failed to play a mediating role in the region so far.

“Manat is not used in transactions and as a means of exchange in the region. The role of manat in the region should therefore be promoted,” the expert added.

Wednesday, August 10, 2011

Bangladesh Issues 2010 Series Banknotes

Bangladesh Bank will issue a new series 2, 5, 100, 500, and 1,000 Taka banknotes tomorrow. All notes are dated 2010, featuring a portrait and watermark of Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, along with the National Martyr's Monument in Savar at center front.