The Portrait Series of currency notes is the fourth and current set of notes to be issued for circulation in Singapore. It was first introduced on 9 September 1999 by the Board of Commissioners of Currency Singapore (BCCS), whose role was since taken over by the Monetary Authority of Singapore (MAS) post-merger.
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This series features the portrait of Yusof bin Ishak, the first president of Singapore. The design has been simplified and new security features were introduced. Polymer versions of this series were released for general circulation by MAS as of 4 May 2004.
History
The Portrait Series was first released by the Board of Commissioners of Currency Singapore (BCCS) on 9 September 1999 to welcome the new millennium, designed by local artist Eng Siak Loy. The series has a total of seven denominations in general circulation; the denominations $1 and $500 were not carried forward from the previous Ship Series. The colour for denominations up to $50 have been retained, a tradition kept since the era of the Malaya and British Borneo dollar. A more standardised approach is adopted across all banknote denominations, with features noticeably differing from all previous series. For example, the watermark no longer features the lion head symbol. Due to design considerations, the dollar sign was considered redundant and is no longer included in this series. In addition, the note printing company no longer appears on any part of the portrait note.
On 31 March 2003, the BCCS merged with the Monetary Authority of Singapore (MAS), which took over the responsibility of banknote issuance. On 4 May 2004, the MAS started issuing polymer versions of the S$10 note for general circulation; polymer versions of the S$2 and S$5 notes were subsequently released. Higher denomination banknotes (S$50, S$100, S$1,000 & S$10,000) are still printed on paper. The paper version of the lower denomination banknotes remain in active circulation alongside the polymer version, though the number of S$2 and S$5 paper notes have dwindled significantly since the introduction of polymer notes.
Security features
Previous security features in the Ship Series were carried over to the Portrait Series, and new ones incorporated into the banknote. The two most prominent security features are the engraved portrait of Yusof bin Ishak (which contains fine lines that are difficult for counterfeiters to mimic) and the Kinegram (a printed security hologram); MAS states that banknotes with missing or mutilated portrait or/and Kinegram command no value. Paper versions issued by BCCS features its logo and the face value, while those issued by the MAS features its logo with the Merlion (a mythical creature and national symbol) and the face value. Polymer versions of the banknote have the Kinegram replaced by an image of the Singapore lion symbol with the face value, showing the coat of arms of Singapore when tilted at varying degrees.
Other security features include lithographic print (the resulting background hinders camera counterfeiting), anti-copying line structures, perfect registration, microprinting, asymmetrical serial numbers and windowed security threads (thin ribbons woven into the paper). Polymer versions of the banknote include two clear windows and other security features that substitute its paper version. Several features that are invisible to the naked eye appear when both versions of the banknote are exposed under UV light.