Malaysian Ringgit: From Spanish Dollars to Modern Coins

Illustrated Specimen Details: 1 Ringgit

Example Specimen: 1 ringgit, 1992 (Malaysia)

Authority & Heraldry: Issued by BANK NEGARA MALAYSIA (Central Bank of Malaysia). The coin features the hibiscus flower blossom (bunga raya, the national flower of Malaysia) and a traditional kris (or keris) dagger with its characteristic asymmetrical blade against a background of local fabric. The denomination is indicated by the dollar symbol ($ 1), which was used to denote the Malaysian ringgit until 1993, when the "RM" symbol was introduced.

1. MALAYSIA (1967–present): 1 ringgit = 100 sen
2. BRUNEI DARUSSALAM (1967–present): 1 ringgit = 100 sen

The name of the ringgit coin literally means "jagged" or "serrated" in the Malay language. In the 16th and 17th centuries across the territories of modern Malaysia, this term was used to refer to widespread silver Spanish dollars (an 8-real coin) due to their distinctive milled or serrated edges.

History and Evolution of the Ringgit

The ringgit is the national currency of Malaysia and Brunei. It was introduced in 1967, replacing the Malaya and British Borneo dollar at par value. Although initially called the "dollar" in English, the historic Malay term ringgit gradually became the official and standard designation.

The monetary system is fully decimal:

• 1 ringgit = 100 sen

Dual Identity: Dollar and Ringgit

Because Malay is the official language in both Malaysia and Brunei, the local terms ringgit and sen are standard. However, given the region's colonial past and close ties to Great Britain, English equivalents (dollar and cent) continue to coexist. This dual identity explains why early Malaysian coins, such as the 1992 issue, display the "$" sign instead of the modern "RM" (Ringgit Malaysia) symbol.

In Brunei, the currency was also introduced in 1967 and remains tightly pegged to the Singapore dollar at a ratio of 1:1. On Brunei's coins, both names often appear side by side: "Satu Ringgit" in Malay and "One Dollar" in English.

Numismatic Perspective

From a numismatic point of view, the ringgit is notable as one of the few modern currencies whose name derives purely from the physical appearance (milled edges) of historical trade coins rather than a native weight or unit. For collectors, the field offers specific areas of interest:

• Early Malaysian issues featuring the transitional "$" symbol.

• Intricate designs that heavily emphasize cultural unity, traditional artifacts (like the kris), and native flora.

• Brunei ringgits, which are significantly rarer and highly sought after by collectors compared to the commonly found sen coins.