Money Museum

On the first of October 2013, my classmates and i went to the Bank Negara Malaysia Museum & Art Gallery as a field trip for my Dynamic Interactivity class.

Museum & Art Gallery.

I'm going to list down my thoughts and answers based on the questions on the handout that my lecturer gave to us to answer.

The outside of the building.

1. What are the first few impressions you have towards the museum? Please describe.
At first i thought that the museum would just display artefacts & list all the information down like a 'regular' museum. However, it's quite different in the sense that it's modern and clean. The interior design is also quite luxurious; overall it has a hotel atmosphere. I guess i could also sum it up in one word. RICH.

Money, money, money; must be funny; in a rich man's world.

2. Can you find something (object/project/image/incident) from this trip that represents the impression you have towards Museum Bank Negara Malaysia?
Oh my goodness it's everywhere. Rich? A bank? Seriously? Money lah!








3. Which part of the museum display/artefacts makes you curious the most? Why?

Just one of the interesting installations that demonstrates the process that happens when you pay to someone's account. From the Economics section.

The section of the museum which piqued my interest most of all would be the Bank Negara Malaysia Gallery. I think it's more interesting than others because instead of history, it gives information about the current banking services and knowledge that we can actually use in the future; how cheques work, the process of banking in money etc.

(However, i would like to point out the fact that i spent the most time in the children's gallery, not because of the information, but because of the interesting interactive installations. Teehee.)


4. Describe your learning experience in this museum as a visitor/tourist. Is the overall experience inviting? Is the information presented in an attractive way?
As a tourist, i would say that some parts of the museum caught my attention more so than others, especially the interactive installations that requires people to 'work' to get the information they want. Most of the information is presented traditionally, but there are also others that are presented via touchscreens or machines which are quite interesting. The only downside are the digital installations that don't work so well, but not everything can be perfect i guess.


5. Do you think the net generation will share any information from the museum to their friends? If yes, what kind of information will they share? If no, why is it not?
As part of the net generation, i wouldn't really share the information from the museum, but i'd share the interesting displays and if any of them ask about it, i'd be happy to explain to them what it's about. I think it's because people like to share things that are out of the ordinary and are interesting compared to everyday life. However, i wouldn't share the information itself (like just words or anything) because i just don't think it would interest most of my friends.

6. If you were to continue finding out more about banknotes design and history in Malaysia, list out 3 questions you would like to ask.

1. Why the need for a change of design? Most of the artistic features stay the same, and the old designs are valued just the same as the new ones. 
2. When the bank notes are discontinued from printing, what happened to the ones that are already existing? Why are they so hard to find these days?
3. What determines the rarity and value of old, historical bank notes?
   (For example, an old, historical RM 20 bank note would be able to sell for RM 200 in 2013)

And now. Time to answer my OWN questions.

1. Why the need for a change of design? Most of the artistic features stay the same, and the old designs are valued just the same as the new ones. 
   To stay ahead of counterfeiting threats and keep counterfeiting levels low. New series of banknotes usually incorporate features that increases security, in line with the latest advancements in banknote technology.
   
   Source: Utusan
2. When bank notes & coins are discontinued from printing, what happened to the ones that are already in circulation? Why are they so hard to find these days?
   Old currency is turned into banks which convert your money into the new monetary unit. The old unit is either destroyed or saved. In many cases people horde the old currency and sell them to collectors.
   
   Source: Yahoo Answers
3. What happens to old paper money?
   The paper used for the dollar bill is a high-quality, linen-based paper that wears very well. Embedded in the paper are fine red and blue strands that you can see if you look closely at the bill. A $1 bill usually lasts about 21 months in regular circulation. $5 and $10 bills wear out fastest because they are used the most. $100 bills last the longest. In contrast, coins last about 25 years in circulation.
   
   Banks collect torn, damaged or badly soiled bills by separating them out daily from what they collect from the public. Banks can exchange the old, worn out money for new bills at the Federal Reserve Bank, which reviews the paper money and determines if it is ready to be retired from the money system. If it is not, the bills are recirculated through the banks. If it is ready to be retired, the Federal Reserve Bank stores it in preparation for destruction.
   
   Source: Ehow
4. What determines the worth/value of old money? There are several factors that influence the value of a coin or bill:
   
   
   Rarity
   Demand
   Condition
   
   
   Rarity involves the number (or "mintage") of coins or bills that were originally produced. Rarity also involves the number of those coins or bills that are still around today.
   
   
   Demand varies according to the popularity and availability of a coin or bill. The demand might be higher or lower in different areas of the world, or during different years.
   
   
   The condition or "grade" is very important. Most price guides give values for several grades. Coins and bills can grade from "mint" or "uncirculated" (no signs of wear) to "poor" (you can tell that it's a coin or bill, but that's about it!). When a bill is in mint condition, it is worth more than the same bill in poor condition.
   
   Source: Finding The Value Of Old Coins & Paper Money
5. Security features of Malaysian bank notes?

• Intaglio (raised printing effect)
• Watermark portrait of Yang di-Pertuan Agong
• Perfect see-through register
• Embedded thread
• Micro-lens security thread
• Coloured glossy patch
• Micro letterings
• Two-coloured fluorescent elements visible only under UV light
• Text & Logo visible under UV light
• Security fibers
  
  Source: Wikipedia; Bank Negara Museum Website

Experiencing money mania,
Jwen Yap.