Non-Issued Banknote

Why is there value for this note if it is a non issued note? And why is it a non issued?

What it means is that the notes were printed for the Somalia government but was not released or delivered and has been stored in South Sudan since 2011. Maybe they did not fully paid for the order.

Due to the current unrest in South Sudan, someone managed to break into the vault and took them out and as such we were all given the opportunity to buy them….. or the story goes something like that.

So do they actually have the value as mentioned? A legal tender?

thegamesbond

 

So do they actually have the value as mentioned? A legal tender?

You might have to ask those living in Somalia. I have a feeling it is not.

thegamesbond

 

So do they actually have the value as mentioned? A legal tender?

From wiki:

Legal tender is a form of money that courts of law are required to recognize as satisfactory payment in court for any monetary debt.

-so if it was stolen (& not legally issued) than its not legal tender. The notes may have some collector value/interest, but their “collector value” will be very niche (typically minor, like other nation's notes which were stolen from vaults during a war/conflict) & they're expected to be high grade (or in UNC condition).  Here's an example of “Cancelled Contraband ½ Dinar” from Kuwait.

EDIT:

Just to add to this (from the above Kuwait example): often when a series like the ½ Dinar stolen cache (above) occurs, there's a certain notoriety for that series. The earlier legitimate notes (that were not stolen but issued) from that series will usually increase in value. 

Just an afterthought, how much did you guys buy it for?

I bought mine on eBay last year in December, it was £1.57 (UNC)

But isn't it supposed to be expensive? It's nothing compared to the Face value 

That same seller has them at £2.55 now, he has 9 available. So they are cheap, for sure!

Perhaps the steal story is not so much known outside Somalia? Otherwise, it equates USD 90.

thegamesbond

 

Perhaps the steal story is not so much known outside Somalia? Otherwise, it equates USD 90.

Most collectors are aware that these notes came from South Sudan's vault. Given that these were not officially announced in Somalia, it is unlikely these notes are legal tender. Why these notes were not delivered to Somalia, only Somalia and South Sudan can answer that. Perhaps Somalia has not fully paid for the order yet! 🤣

And perhaps no chance of Somalia legalising them now?

thegamesbond

 

And perhaps no chance of Somalia legalising them now?

I do not think so.