Next round of banknote auctions to take place May 23

Taiwan News
Date: 2019/05/10
By:  Taiwan News, Staff Writer

Central Bank of Taiwan to conduct the 14th banknote auction (Image/FB Central Bank)

TAIPEI (Taiwan News) – The Central Bank of Taiwan has raked in nearly NT$60 million (US$19.2 million) for the government coffers over the past eight years through an unusual moneymaking method – auctioning special-number New Taiwan Dollar banknotes.

Since 2011, the Central Bank has conducted 13 auctions that brought in an accumulated NT$57 million from sales of banknotes printed with specific serial numbers. The most sought-after notes included numbers 888888 and 666666, the pronunciations of which are homophonic with words carrying auspicious meanings in Chinese, reported UDN.

A large number of people in Taiwan, and beyond the island, are enthusiastic collectors of New Taiwan Dollar banknotes bearing specific numbers either for investment or collection purposes. The fever has spawned business opportunities from trading such notes, an activity that is particularly appealing to senior citizens, said the Central Bank, which takes charge of affairs related to issuing currency.    [FULL  STORY]