wrote:
"Charles Ellson" wrote in message
...
On Thu, 19 Jun 2008 23:42:31 +0100, wrote:

"Hugh Brodie" wrote in message
...
Speaking of hyper-inflation, it's fun looking at the website of the
Reserve Bank of Zimbabwe http://www.rbz.co.zw to see the daily exchange
rate of the $Z vs the $US. Yesterday, it was 5,817,000,000; today it's
6,718,000,000. They have just issued $Z 50,000,000,000 notes ("bearer
cheques"). And it will cost you $Z 1,800,000,000 to mail a postcard to
the
US. http://www.zimpost.co.zw/postalrates.html

It's a shame that there are no images of currently circulating Zimbabwean
notes or coins.

http://www.marketoracle.co.uk/Article4266.html
http://mjperry.blogspot.com/2008/04/...urrencies.html
http://www.neatorama.com/category/money-finance/page/2/
The latter also has a 100,000 USD note.
http://stores.ebay.com.sg/Roberts-Wo...QQftidZ2QQtZkm

Many thanks for that.

Wouldn't it be illegal to sell a 100,000-dollar note, however? They are not
intended for general circulation and I wonder if the relevant US authorities
would have something to say about that.

For starters, the US authorities have something to say about any cash
transaction larger than USD5,000, due to money laundering (and now
"terrorism") laws regardless of the size of the individual bills.

USD10,000 and 100,000 bills were only issued to the Federal Reserve
Banks as a way to transfer money between themselves (much easier than
shipping gold) and were not circulated _at all_. According to the
authorities, all were accounted for and all were destroyed except a few
that were lent (not given or sold) to museums. It is supposedly
impossible for a person to acquire a legitimate one legally, so if such
a bill were presented to a bank, the person would be arrested for either
counterfeiting or theft.

Now, if it turns out that any of those bills _did_ get into circulation
and had been hoarded for eight-plus decades without detection, a bank
would be required to accept it for deposit (the US never demonetizes old
currency or coins), but they could not give it out to another customer
for a withdrawal. They would send the bill to their Federal Reserve
Bank, which would undoubtedly destroy it immediately. That is exactly
what would happen to the remaining USD1000 bills that are out there, but
nobody sane would ever present them to a bank because they're worth more
as collectibles than as money, just like old silver and gold coins that
are now worth many times their face value.

This is decidedly different than what happens to (relatively rare) USD2
bills, which banks accept without comment but only give out to customers
upon specific request. Banks also hoard USD50 and USD100 bills, but
they'll ask if you want them if your withdrawal is large ("Do you want
that in hundreds or twenties?").

S

Hoard $50's?

Hmmm, Canadian bank machines routinely dish out our $50's, though the
machines are usually identified and at locations where "regular" $20
dispensers are also available.