Description
These
rare hyperinflation banknotes, issued for the Reserve Bank of Zimbabwe in Harare, are currently out of print and
withdrawn from circulation.
Please
note: this is a stock image. The banknotes you receive may have different
serial numbers to the banknotes pictured.
All
bills come secured between the solid
sheets of corrugated cardboard in a padded envelope.
Banknote
grading terms we use
UNC - Uncirculated perfect condition, never used.
AU - About uncirculated, a virtually perfect
note, with some minor handling.
EF - Extremely fine, some weak folds or creases or one
strong fold. Sharp edges of the bill might be slightly rounded.
VF - Very fine, might have some folds, but the note should still
be crisp and has a very little amount of stains.
Shipping & Delivery
Payment: PayPal is preferred as the method of payment. Items will be shipped to your registered PayPal address.
Handling time: We ship worldwide from Lithuania, Europe.
Items are normally shipped the same business day or within 24 hours at the
latest after receiving the cleared payment, excluding weekends and national
holidays. Purchases made after business hours, weekends and holidays will be
processed the following business day.
Shipping fees: Shipping cost is . Shipping price is calculated automatically during checkout. You can also choose UPS express
delivery option at an additional cost during checkout. UPS delivery time is 2–5
days.
Delivery:
buyers in the U.S. should
expect delivery within 5–20 business days; buyers in Europe
should expect delivery within 5–10 business days.
Returns &
Refunds: if you are unsatisfied with
your purchase, please contact us within 30 days of receipt of shipment. Items
must be returned in original condition at the buyer’s expense. We guarantee a
replacement or a 100% refund.
Should you need to place an order of
larger quantity or offer your price other than indicated in our listing,please
do not hesitate to contact us by Ebay messages.
History of Hyperinflation in Zimbabwe
Hyperinflation occurs
whenever a country’s currency is created at too high of a rate. The money
eventually loses its power and value, as it is too overabundant. The
history of Zimbabwe’s
hyperinflation is a lengthy one, and it revolves around a government that
slowly became derailed.
Originally, the Zimbabwe dollar
held high value. In fact, dating back to its origin in the 1980s, the Zimbabwe dollar
held more value than the U.S. dollar. The early years of Zimbabwe’s
economy saw great growth and development. Various industries and crops were
thriving, and, thus, Zimbabwe’s
economy had begun to thrive as well.
However, the tables began
to turn under the reign of President Robert Mugabe. In the early 1990s, Mugabe,
with the help of the World Bank, decided to create an Economic Structural
Adjustment Program. This ESAP would begin the gradual fall of Zimbabwe’s
currency.
As a result of this
readjustment, the government forced various land redistribution and land
reform. Not only would this shift in land reform contribute to the fall of the
economy; many claim that Mugabe’s actions were racist. Mugabe’s government took
away land from white farmers and redistributed it to black farmers as an act of
correcting the injustices done by colonialism. What Mugabe’s government did not
know is that many of these black farmers were not prepared to tend to the new
land, and thus many crops and industries began to plummet.
Once these various crops
and industries began to fall, the rest of the domino effect began. The banking
sector collapsed as soon as the farmers were not able to receive loans. The
food output rate fell by almost half of its percentage, and therefore
manufacturing rates also declined. Ultimately the unemployment rate rose to a
startling 80%, and the life expectancy rate dropped.
All of these awful
consequences affected the monetary value of Zimbabwe currency for a few
different reasons. Simultaneously with the steady decline in life at home, the
Mugabe government was rapidly producing money to fund their efforts with the Democratic Republic of the Congo
and the Second Congo War. The government did not honestly report their spending
to the International Monetary Fund, so there was no record of the imminent doom
facing the country.
In addition to the war efforts,
there were a few other causes for the eventual hyperinflation of Zimbabwe
currency. Due to the corrupt government, many officials were being overpaid,
and people were not confident in their government’s abilities. This unfaithful
feeling towards a country’s government has the tendency to undermine the faith
of currency.
The Timeline of
Zimbabwe’s Currency Hyperinflation
Follow this timeline for
insight into the amount of time it took for Zimbabwe’s currency to crash.
April 1980
The very first Zimbabwean
dollar is created in order to replace the Rhodesian dollar. A series of
Zimbabwe bank notes are issued. These denominations range from to .
1994–2006
The Reserve Bank divvies
out many different banknotes ranging from to 0. Once inflation begins to
hit the country’s economy, the currency begins to lose its power, and therefore
the 0 and ,000 are issued between the years of 2001 to 2005. By 2006, Zimbabwe
welcomed the introduction of the ,000 and 0,000 banknotes.
August 1, 2006
The government begins to
attempt a currency reform in order to cease the inflation. The new denomination
of the Zimbabwe dollar
eliminates three zeros from the old dollar; therefore, the second Zimbabwe dollar
is revalued at one dollar, which would be ,000 in the old currency.
July 1, 2007
Approximately one year
later, the government creates the 0,000 banknote. According to the official
exchange rate, this extremely large Zimbabwe currency was worth around
.00 in U.S. dollars.
December 31, 2007
As the year comes to a
close, the government issues the 0,000 banknote. This currency was worth
approximately .00 in U.S.
currency.
January 1, 2008
The next day, the
government introduces the Million, Million, and the Million.
April 2, 2008
The Million and
Million banknotes are debuted. Here are a few prices that were commonly seen
during this time: one T-shirt would cost around 6.5 Million and a pair of
paints could run for .65 Billion. Local produce sold in the Millions, and two
beers and one bottle of water would cost you around Billion.
May 2, 2008
Annual inflation now
reaches over 100,000%, and the 0 Million, 0 Million, and 0 Million
banknotes are introduced.
May 15, 2008
A few days later, the
Billion, Billion, and Billion bearer banknotes are debuted.
July 1, 2008
On this day, the 0
Billion note is introduced, and this bill would buy anyone approximately three
eggs.
August 1, 2008
The government now implements
another attempt at currency reform by eliminating ten zeroes from every Zimbabwe
dollar. The third Zimbabwe
dollar is now worth 10 Billion old dollars—the second Zimbabwe
dollar. However, despite this new implementation, inflation continues to rise.
September 29, 2008
The new ,000 and ,000
notes are debuted.
October 13, 2008
The new ,000 note is
issued.
November 5, 2008
The 0,000 and 0,000
bills are printed.
December 4, 2008
The government issues the Million,
Million,
Million, and the 0
Million dollar banknotes.
December 14, 2008
Approximately ten days
later, the government slowly issues the new banknotes of the 0
Million and 0
Million. Five days after this, the government issues the Billion,
Billion and
Billion bills.
January 12, 2009
The new
Billion and
Billion bills are introduced.
January 16, 2009
The government reaches new
highs with the introduction of these new banknotes: the Trillion,
Trillion,
Trillion and even the 0
Trillion bill.
February 3, 2009
The Reserve Bank of Zimbabwe takes over and introduces the fourth Zimbabwe
dollar, which eliminates twelve zeros from old bills. This causes Trillion
to equal one new dollar. The new denominations issued are: , , , ,
, 0, and 0; however, many begin to adopt foreign currency, such as the
U.S. dollar and the South African rand. Zimbabwe currency is obsolete and
no more in use.
