British North Borneo dollar

The British North Borneo dollar was the currency of British North Borneo from 1882 to 1953. It was subdivided into 100 cents. The dollar had remained at par with the Straits dollar (and its successor the Malayan dollar), the currency of Malaya and Singapore, at the value of one dollar to 2 shillings 4 pence sterling from its introduction until both currencies were replaced by the Malaya and British Borneo dollar in 1953. Both coins and banknotes are issued by the British North Borneo Company.

During the Japanese occupation period (1942–1945), paper money was issued in denominations ranging from 1 cent to 1000 dollars. This currency was fixed at 1 dollar = 1 Japanese yen, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the British North Borneo dollar regained their value relative to sterling (two shillings four pence).

Coins

British North Borneo Company banknote of 1940

Coins were first minted in values of ¹⁄₂ cent and 1 cent in copper, and later 1 cent, 2 ¹⁄₂ cents, and 5 cents in copper-nickel, and 25 cents in silver. Originally they were issued under the name "British North Borneo" and later under "State of North Borneo" starting in 1903. All coins depicted the state crest on the obverse and denomination on the reverse. These were last minted in 1938 and later phased out by coins of the Malayan dollar.

Banknotes

Banknotes were printed in values of 25 cents, 50 cents, $1, $5, $10, and $25. The design of the banknotes did not change much during the currency's lifetime. However, their physical sizes tend to shrink over time. They either show the coat of arms, Mount Kinabalu, or both.

See also

• Malayan dollar
• Sarawak dollar

References

• Pick, Albert (1996). Standard Catalog of World Paper Money: General Issues to 1960. Colin R. Bruce II and Neil Shafer (editors) (8th ed.). Krause Publications. ISBN 0-87341-469-1.
• Krause, Chester L., and Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901–Present. Colin R. Bruce II (senior editor) (31st ed.). Krause Publications. ISBN 0873495934.

External links

• Global Financial Data currency histories table
• Tables of modern monetary history: Asia

pre-WWII

Preceded by: No modern predecessor	Currency of British North Borneo 1882 – 1942 Note: had been at par with Straits dollar, and Malayan dollar after 1939	Succeeded by: Japanese government-issued dollar Location: present day Malaysia, Singapore, Brunei Reason: Japanese occupation Ratio: at par Note: The Japanese allowed the former currencies to circulate, but they were in practice hoarded as a more reliable store of value.

post-WWII

Preceded by: Japanese government-issued dollar Location: present day Malaysia, Singapore, Brunei Reason: Japan lost World War II Ratio: The occupation currency became worthless. The value of the pre-occupation currency was restored.	Currency of British North Borneo 1945 – 1953 Note: had been at par with Malayan dollar	Succeeded by: Malaya and British Borneo dollar Reason: creation of a common Board of Commissioners of Currency Ratio: at par, or 60 dollars = 7 British pounds