World’s largest banknote on show in Dubai

Giant banknote — now worth D146,000 — marks 100 years of Philippine independence

15:40 June 11, 2017
NAT NOTE PIC 100,000 peso note

Dubai: The world’s biggest banknote — which is larger than an A4 sheet of paper — is on show in Dubai.

The note, which measures 35.6cm by 21.6cm, was printed by the Philippine Central Bank in 1998, to mark the 100 years of independence.

Only 1,000 of the special commemorative notes were issued, each with a face value of 100,000 pesos — around Dh9,000.

At the time, the bank sold each note to collectors for 180,000 pesos (Dh15,500).

Only one note is believed to be in the UAE, and is show at Numisbing, a coin collector’s centre in Dubai. Next to it, in a display case, is an original Guinness Record Certificate and a central bank certificate.

The note depicts two revolutionary scenes from the 1890s, as Filipino nationalists shook off more than 300 years of Spanish rule.

The note’s proud owner, who founded the centre, hopes that the note will be of special interest to the UAE’s large community of Filipinos. The Philippines celebrates its independence day on Monday.

“There are so many Filipinos in this country, but most of them don’t know that there is a 100,000 denomination issued in their country for this purpose,” said Ram Kumar.

“It’s really interesting for them,” he added. “Filipinos who have come to my office are amazed, and had their photo taken with it.”

An avid money collector, Kumar also heads the Dubai chapter of the International Bank Note Society.

Since buying the note nine years ago, Kumar claims its value has shot up to around Dh146,000.

Most of the other 999 special notes are with collectors “who do not sell at all.”

“If there is the right buyer, I will sell it,” he said.

Visitors to the collector’s centre can also view the world’s second largest banknote, which dates back to the Chinese Ming Dynasty.

The note is on show at the Numisbing showroom in Deira on Al Maktoum Road, from 10am to 7pm, Sunday to Thursday.