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Guyana: Supreme Rarity In a Small Package: The Royal Mint 1978 5 Cents
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<p>[QUOTE="Ed70, post: 2885822, member: 90639"]Actually these were quite common coins in commerce in Guyana at the time. The nation was in its infancy and due to the poor leadership of its newly elected government the economy was thrown into chaos by out-of-control inflation. At the time of Guyana's independence in 1966 one could exchange a single US dollar for two Guyanese dollars. By 2000 the exchange rate had climbed to $200 Guyanese dollars for one US dollar. As a result by the mid-1990s all small coinage bearing cent denominations were replaced with a few $5-$10 coins, which also quickly ceased use in common exchange. Currency with denominations of $100 and higher became the means of making change for everyday transactions. Prior to independence British Guiana's largest note was a $20 bill, purple, bearing Queen Elizabeth II; today Guyana's largest note is a $5,000 bill, lime green, bearing picture of Guyana's Rainforest. The economic drivers remain basically the same as they were a half century ago, but the Guyanese people are poorer in spite of people having more "dollars" in hand.</p><p><br /></p><p>I had the privilege of spending three of my early teen years living in British Guiana. I left in 1964, returning to visit numerous times over the years. Some of my wife's family still live there. I collect almost everything I can from this former British colony. My collection includes coins from 1809 to 2000 bearing King George III, King William IV, Queen Victoria, King Edward VII, King George V, King George VI, Queen Elizabeth II and assorted Guyanese animals and scenes. Needless to say this is one of my passions.[/QUOTE]</p><p><br /></p>
[QUOTE="Ed70, post: 2885822, member: 90639"]Actually these were quite common coins in commerce in Guyana at the time. The nation was in its infancy and due to the poor leadership of its newly elected government the economy was thrown into chaos by out-of-control inflation. At the time of Guyana's independence in 1966 one could exchange a single US dollar for two Guyanese dollars. By 2000 the exchange rate had climbed to $200 Guyanese dollars for one US dollar. As a result by the mid-1990s all small coinage bearing cent denominations were replaced with a few $5-$10 coins, which also quickly ceased use in common exchange. Currency with denominations of $100 and higher became the means of making change for everyday transactions. Prior to independence British Guiana's largest note was a $20 bill, purple, bearing Queen Elizabeth II; today Guyana's largest note is a $5,000 bill, lime green, bearing picture of Guyana's Rainforest. The economic drivers remain basically the same as they were a half century ago, but the Guyanese people are poorer in spite of people having more "dollars" in hand. I had the privilege of spending three of my early teen years living in British Guiana. I left in 1964, returning to visit numerous times over the years. Some of my wife's family still live there. I collect almost everything I can from this former British colony. My collection includes coins from 1809 to 2000 bearing King George III, King William IV, Queen Victoria, King Edward VII, King George V, King George VI, Queen Elizabeth II and assorted Guyanese animals and scenes. Needless to say this is one of my passions.[/QUOTE]
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Guyana: Supreme Rarity In a Small Package: The Royal Mint 1978 5 Cents
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