Zimbabwe notes through the roof?

I saw a guy on the youtubes a few years ago saying Zimbabwe currency was a good investment. I thought he was crazy or he was joking.

But look at the 100 trillion note.

Few years ago they were going for $10-$20 each. Now they are nearing $100 each?

Is it just that cause it's the largest denomination note ever and is in high demand or all notes from that country went up?

 

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Because it was the last of the hyper inflation notes. Those notes are populare due to number of zeros and the fact they are in "dollars". Everyone expected a quadrillion note to be printed when Zimbabwe switched to USD. The value of the 100 trillion note is not its monetary value, but as a curiousity.

 

I purchased one 50 Trillion recently for $5.00
https://www.cointalk.com/threads/zimbabwe-50-trillion-dollars.307550/

 

I have a pretty extensive set from the very high ones, down to the "normal" sounding denominations.

 

The only one I know of that brings a big premium is the 100 Trillion Dollar Note. The rest can be found for just a few dollars

 

I took one of those over to the Finance Committee staff, offering to "handle the state budget", if I could get change in U.S. dollars. They didn't bite.

Think of it - 100 trillion - one single note. In name, that's more U.S. dollars than have EVER EXISTED IN HISTORY, including EVERYONE'S. And people think that'll happen here. Morons, I tell ya', morons!

 

Amazing! I guess the joke gifts to my kids turned out to be not-so-funny.

 

People hear words that rhyme with "illion" and lose ALL ability to think.

 

I've picked up some of the "Lesser" (in the millions and billions) for like 20 cents at coin shows.

 

Wiki says the computers couldn't handle the zeroes.

(Accountants have to keep exact track even of 1/10,000th...
... like a U.S. Cent to a 100$ bill...
...or 1/100,000th for larger accounts.)

 

Ah, but what about real "lesser" - $10, $50, etc. Have those?

 

What if someone goes to the bank and asks singles for a 100 triliion note?

If a cashier can count 100 bills in 10 seconds (machine), it would take him/her 10,000,000,000,000 seconds or 317 years to count.

 

The people who hawked the Zimbabwe dollar as an investment were not talking about as a collectible. These people touted the high inflation currencies (Zimbabwe, Vietnam, etc.) as a foreign exchange investment that would gain in value compared to the US dollar based on the impending "Global Currency Re-set" that was always going to happen (like free beer) tomorrow. I had a client that was insistent that he was going to make millions on this. There were conference calls with these hucksters and email alerts, etc. He gave our church several million Vietnamese dong anticipating that it would solve our budget woes forever. The Finance Committee asked me what they should do with them because the bank would not take them. I told them to give them out as prizes to the Sunday school kids.

 

The ability of SOME idiots to denigrate the health of their own country's economy knows no bounds. To my way of thinking, it's economic treason.

Why?

Because more so than perhaps in ANY OTHER field of study, in economics bad things can be made to happen because people can inadvertently CAUSE bad things to happen, just by predicting them, at the margin.

 

How can that be if they were no longer legal tender?

 

What even IS nonsense like that?

 

Don't bother them with petty little details like that. It interferes with their ability to fleece people.

 

The last time I read about the proposal to redeem the final incarnation of the Zimbabwean dollar was the value that "may" be paid to anyone who brought them to a Zimbabwean bank was at a rate of $100 trillion equals US$0.40, and this was before President Mugabe was removed from office.

 

Darn! That reminds me. I promised to work on a ghost-written first draft of Mugabe's Manual of Legislative Procedure.

 

I've got a few of the lower denominations (only up to 500 billion!) but ...

https://www.ebay.com/itm/Zimbabwe-1...648716?hash=item46576fb28c:g:4IEAAOSwNSxVaSgp