The power of banknotes

A very nice article from South African writer Mlungisi Ngubeni which shows the symbolic power banknotes can have for a nation.

"Let these new banknotes be a symbol that the power of change lies in our hands and the power of prosperity for the country and the people lies in our hands."

Read the whole article on The Times website.

Steven Tuesday 27 November 2012 at 12:37 pm | | links | No comments
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Mark Carney new governor Bank of England

Mark CarneyTo a lot of people’s surprise Canadian Mark Carney has been named as the new governor of the Bank of England. He is currently the governor of the Bank of Canada and will be the first non-Brit to hold the position in England. 

Update: A thoughtful remark by Banknotenews on the same subject: "The move will likely mean new signature varieties for Canada's banknotes, but not for those in Great Britain, where the notes are signed by the chief cashier."

Steven Monday 26 November 2012 at 9:45 pm | | news | No comments
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Syrian banknotes from Russia

Some months ago there were questions being asked where Syria gets its new banknotes from. The 2009 issues (P112-P114) were printed by Oesterreichische Banknoten- und Sicherheitsdruck in Austria but due to sanctions by the EU against the Syrian regime, that printer was no longer available. Most people believed that the new printer would be Goznak, Russia’s biggest security printer. A fact flatly denied by the governor of the Syrian Central Bank (update: ...but which in the mean time has been confirmed by Goznak themselves). 

But now new evidence has surfaced. Flight records show that massive amounts of cash have been flown from Russia to Syria. About 240 tons of banknotes to be precise! These are needed by the Syrian regime to cope with the international sanctions and to pay the war effort.

The plane being named in the documents (© Flickr user Jerome_K)

Steven Monday 26 November 2012 at 7:50 pm | | news | No comments
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No 3000 Ruble banknote

And then the banknote that will not be issued: the 3000 Rubel from Russia. Officials dismissed the rumors which had started on a website of a local politician. The idea was that this banknote would fill the gap between the 1000 and 5000 Rubel banknote. The 5000 Rubel being the last new banknote to be issued in Russia. But this banknote is virtually useless in daily payments due to lack of change in shops. The 3000 Rubel banknote might be a solution but not in the near future. A professor in graphic design made a design of the proposed banknote with scenes of Yekaterinburg on it. Quite a good looking note to be honest.

Design for the 3000 Ruble

Steven Monday 26 November 2012 at 1:26 pm | | news | No comments
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Zambia to delete three zeros

The Bank of Zambia has announced that the kwacha will be rebased by dividing it by 1,000, dropping three zeros off the currency, on January 1. Now Zambia has a K50,000 note, but this is worth less than $10. The Bank of Zambia said this resulted in inconvenience and risks in carrying large sums of money for transactions. It has also led to increasing difficulties in maintaining bookkeeping and statistical records, ensuring compatibility with data-processing software and higher costs in the payment system.

Zambia currently has banknotes for K20, K50, K100, K500, K1,000, K5,000, K10,000, K20,000 and K50,000. It has coins for K10, K5, K1, 50 ngwee and 25 ngwee. After January 1 there will be a new note series for K100, K50, K20, K10, K5 and K2 and coins for K1, 50 ngwee, 10 ngwee and five ngwee.

From July 1 next year, the old currency will not be accepted, but it will be exchangeable for a year thereafter for the new currency at the Bank of Zambia, commercial banks and designated agents. The new currency will get the symbol K. From July 1 2014 to December 31 2015, exchanges will be at the Bank of Zambia only and thereafter old currency will have no value. Click the popup to see the new banknotes:

The new banknotes

Source

Steven Monday 26 November 2012 at 08:40 am | | news | No comments
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More short news from India

First is the ten Rupees banknote from India. The Reserve Bank of India has announced that these will be gradually replaced by coins. The average life span of the 10 Rupees banknotes is 9-10 months. To have banknotes with such a short life span is not cost effective. At the same time they will begin to experiment with polymer banknotes to prolong the life of especially the lower denominations. Source

Steven Monday 26 November 2012 at 07:36 am | | news | No comments
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Short news

Short news from India:

The Reserve Bank of India will shortly issue `10 denomination Banknotes with Rupee Symbol (`) on the obverse and the reverse, inset letter ‘A’ in both the numbering panels, in the Mahatma Gandhi Series-2005 bearing the signature of Dr. D. Subbarao, Governor , Reserve Bank of India, and the year of printing ‘2012’ printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the `10 Banknotes in Mahatma Gandhi Series- 2005, issued earlier. All the Banknotes in the denomination of `10 issued by the Bank in the past will continue to be legal tender.

Source

Steven Saturday 24 November 2012 at 08:28 am | | news | No comments
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Banknote calendars

Owen Linzmayer of Banknotenews.com (every collector should have this site in his bookmarks) has designed a few calendars with the most beautiful banknotes depicting aircraft, beasts, beauties, birds, boats, bridges, and fish. 

You can order them here for $24,99 but if you use the code DELIRITAS you get a 51% discount. This code expires 27 November so get them while you can! I just ordered a calendar with the beasts theme.

Steven Saturday 24 November 2012 at 08:13 am | | fun | No comments
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New additions week 47 - 2012

Two new notes arrived yesterday which I won on eBay. The first one is an ECU-testnote which I remembered from 20 years ago and which sparked my interest in banknotes. A year later I started collecting. The second note came as a gift with the first one and is from Burundi. Such a nice gesture!

Steven Friday 23 November 2012 at 08:54 am | | new additions | No comments

Money Dress

As you might have noticed I love to collect banknotes. Some people however have thought of different uses for the notes in their pocket. Like this 'sugar daddy' in China who came up with the idea of dressing his girl up in a dress made of real banknotes. The girl claims they're the equivalent of 200.000 Yuan, or 32.000 Dollar. But as one commenter on a Chinese website pointed out, the dress is made of Ukrainian banknotes. All together he estimates they're worth about 200 Dollar which seems like a reasonable guess to me. Take a look:

The money dress.

Steven Friday 23 November 2012 at 08:39 am | | fun | No comments

50 and 1000 Krona will become invalid after 2013

Tuesday I wrote about the 50 and 1000 Krona from Sweden which will become invalid after 31 December 2013. More news is available now from the website of the Swedish Central Bank, the Sveriges Riksbank. This is part of the preparations for the replacement of the current banknote series which will begin in 2015. From the website:

Schedule for the introduction of Sweden’s new banknotes and coins

  • 31 December 2013 is the last date you can make payments using 50-krona and 1,000-krona banknotes that do not have foil strips.
  • October 2015 is when the new 20-krona, 50-krona, 200-krona and 1,000-krona banknotes will be issued.
  • 30 June 2016 is the last date you can use the current 20-krona notes and the 50-krona and 1,000-krona banknotes that have foil strips.
  • October 2016 the new 100-krona and 500-krona banknotes will be issued, along with the 1-krona, 2-krona and 5-krona coins.
  • 30 June 2017 is the last date you can pay using the current 100-krona and 500-krona banknotes with foil strips and the current 1-krona, 2-krona and 5-krona coins.
© Banknoteworld

Steven Thursday 22 November 2012 at 08:03 am | | news | No comments
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Countries

For a collector of world banknotes like me it's always nice to know how many countries are represented in your collection. At the moment I have 157 countries for instance. But it's much nicer to see this in a list which could also be easy to manage.

Well I did just that. There are numerous lists of banknote issuing countries but I've tried to combine them in one list which I hope is somewhat complete. Of course there is still room for debate: should you add every German state as a separate entity or is 'German states' sufficient? But as a first attempt this works for me.

You can choose 'countries' in the menu on the right or click here.

Steven Wednesday 21 November 2012 at 1:16 pm | | site info | No comments