Colonial notes were used before Singapore’s independence—during the days we were still known as “British subjects” rather than “Singaporeans”. They include all banknotes issued during the British rule, such as the Straits dollar, the Malayan dollar, and the Malayan and Borneo dollar, all of which are highly coveted today. For completeness, I have also included in this category the wartime notes issued by the Japanese during their occupation of Singapore, even though they are not colonial notes.

Before the introduction of official banknotes, trade in Singapore relied on a patchwork of foreign currencies. Merchants and traders used a variety of coins including Spanish silver dollars, Indian rupees, Dutch guilders, and Chinese cash coins—reflecting Singapore’s status as a free port and melting pot of cultures. This mix of currencies created confusion and inconsistency, prompting the British authorities to seek a more unified monetary system. The turning point came with the formation of the Straits Settlements Government, a British colonial administration established in 1826 to govern Singapore, Penang, and Malacca—later joined by Labuan. Initially managed by the British East India Company, the Settlements came under direct Crown rule in 1867. To establish order and cohesion, they began issuing official currency, and in 1898, the first Straits Settlements banknotes were introduced. 

Unlike discontinued notes issued by the Singapore government, colonial notes are not legal tender. Their value lies exclusively as collectors’ items. And this value is strongly influenced by not just Singaporean collectors—but also Malaysian ones—because these colonial notes were also used by the Malaysian states and represent Malaysia’s history too.

The notes pictured on this page are what I am able to acquire: they are not all completed sets because some denominations may be extinct, were never seen in the market, or are sitting in a museum’s or collector’s display shelf back home. A few notes here are therefore reproduction notes, i.e. privately printed but look exactly like the original note.