KARACHI, Dec 29: According to a State Bank press release, the five-rupee notes will be demonetised from Jan 1, 2013.

The five-rupee coin has already been introduced and is widely circulated by the State Bank of Pakistan.

Now that the note is going to no longer exist in the monetary market, some suggest it might assume collectors’ value.

Speaking to Dawn, director of Museum and Art Gallery at the State Bank of Pakistan Asma Ibrahim said: “Yes, collectors buy them and sell them afterwards to whoever is interested. The State Bank, on the other hand, destroys them. More than artistic worth, these notes have historical and archival value. Every note has archival value. I remember when we were setting up the State Bank Museum, we had to buy a lot of old currency notes to put them on display.”

Distinguished collector Rafiq Kasbati was of another view. He rejected, though not summarily, the idea that these notes had any value.

“I do not think they have any worth, though you cannot predict about the future. You never know what happens after 10 years. The five-rupee notes that were issued before them are still lying with people. In fact they had more value because at the time, and in a span of 10 years, quite a few governors came and went, leaving many more signatures on them. But even those notes did not have much value. Although, if they’re clean or UNCs, the collector might earn a marginal profit on them.”

What are UNCs? Stamp, coin and note collector Mohammad Ali Jehangir explained: “There are different stages of an old note, depending on how much it has been used. They are fine, extra fine and UNC. The last one implies un-circulated condition. If you have UNCs, chances are that you will get benefit on the demonetised note.

“I think these five-rupee notes will have some value in the future. Let me tell you an interesting thing. The International Banknote Society not too long ago had declared it the beautiful note of the year because of its design. The other thing is that since it’s a small amount note, you don’t have to be a big collector to get hold of it. A smalltime collector can either keep it for its value or earn big profits on it. Those who keep the UNCs nice and safe get good results,” said Mr Jehangir.