How much would you pay for a HKD150 note? Surely no more than HKD150, right?
WRONG.
According to a report in Apple Daily, a sneaky source at HSBC said the bank is planning to issue millions of HKD150 notes this year in celebration of its 150-year anniversary.
The only catch? They’re commemorative, so they’ll cost at least twice or three times more than their actual face value.
If the leak is correct, the notes will be issued in March once the bank has won approval from regulators. It is expected they will be snapped up quickly by currency speculators and mainland collectors.
The move would be the second time such a seemingly silly scheme has taken place in Hong Kong.
According to EJ Insight, Standard Chartered also issued HKD150 commemorative notes in 2009 and sold them on for HKD280.
You can’t argue with the economics, but HSBC could have at least tried to be original.
We’re sure notes adorned with Hello Kitty faces instead of lion heads would sell like hot cakes, whatever the price.
