TOKYOJul 5 (News On Japan) – The new Japanese banknotes, which went into circulation on July 4, have caused a frenzy among collectors and the general public. At the Mitsubishi UFJ Bank headquarters in Marunouchi, Tokyo, people were queuing to exchange their old banknotes for the new ones on the second day of issue.
One man, who had traveled an hour from neighboring Chiba Prefecture, expressed his excitement: “I wanted to show my friends what I have. In a few years, these things will become commonplace, but for now I just want to show off that I have them.”
Another customer showed off his new banknotes and pointed out that the serial numbers start with ‘AA’. This indicates that they are from the first production batch, making them especially sought after by collectors. Many have shared their joy of obtaining these rare notes on social media.
A collector said: ‘I collect various commemorative coins and banknotes for my children’s future. I hope to give them these rare items when they grow up.’
But what is the value of these serial numbers? At a coin shop, we asked about the value of old banknotes. The shop owner, Minoru Terada of Shimbashi Stamp Trading Co., showed us a 1,000 yen note with the serial number โXC77777Cโ and explained that its value was 28 times its face value, priced at 28,000 yen.
Terada then unveiled their most valuable banknote: ‘ZZ555555Z’, worth a whopping 500,000 yen.
Although the โAAโ serial numbers on new banknotes are not expected to fetch such high premiums, they have already appeared on auction sites. On one site, a 5,000 yen note with an โAAโ serial number was listed for 5,900 yen, an increase of 900 yen from face value. Even notes with โACโ serial numbers were selling for significant markups.
However, LINE Yahoo, which operates Yahoo! Auctions, noted: “As a general rule, listing cash is prohibited unless it is recognized as a collectible or rare value. We will remove such listings in accordance with our guidelines.”
There have also been reports of scams involving the new banknotes. In June, a woman in her 70s in Chiba Prefecture was scammed by a man claiming to be a postman. He told her, “Keeping old banknotes can lead to crime. We will exchange them for new ones.” She ended up losing about 2 million yen in cash.
Police are urging caution and warning of the possible spread of ‘fraud involving the exchange of old banknotes’.
Source: FNN
