This video is one of thirteen of the third sub series World Banknotes and we’re heading to South America and visiting Venezuela. I’ve collected international banknotes that represent the equivalent exchange rate to the U.S. dollar, or the lowest paper currency denomination that each country issues.
@TheCoinBoxChannel
Hi, I’m Dan and welcome to Polar Currency and video 18 - World Banknotes, Bite Size Edition number 2 and we’re going to Venezuela. I’m uploading one video for each South American country for 13 consecutive days so that explains why I’m calling these bite size editions. My collection is of contemporary international banknotes that have the equivalent exchange rate to the U.S. dollar or the lowest paper currency denomination that a country may issue.
Since this video is has Spanish - my friend, Joe from The Coin Box, has returned to help with my pronunciation. Hopefully you’ve had a chance to check out The Coin Box. Joe produces excellent videos that share his exceptional knowledge and collection of Mexican and U.S. coins. Joe will appear in a closed caption box saying the word in Spanish so that you’ll actually understand it. Thanks again Joe and The Coin Box for sharing your time, talent and ability – it truly is appreciated.
Venezuelan currency is called the Digitales Bolívar. The Bolívar name has been used since the late 1800’s. I have to take a deep dive into the Bolivar because there is an interesting, yet tragic story that’s currently ongoing in Venezuela at this time.
In 2008 Venezuela began to experience major hyper-inflation that plummeted the value of their currency. Up until 2007 Venezuela issued 1 through 50,000 denominations which was called the Bolívar. In 2007 three zeros were dropped and the Bolívar Fuerte, meaning strong, was created only issuing up to the 100 denomination. In 2015 the 500 through 200,000 denominations were added to keep up with inflation.
Then in 2018 the Bolívar Fuerte the was replaced by the Bolívar Sobreno, meaning sovereign, removing another 5 zeros and only issuing up to the 500 denomination. But that wasn’t enough. In 2019 the 10,000, 20,000 and 50,000 denominations were added completely skipping the 1, 2 and 5,000 Bolívar Sobreno. But that still couldn’t keep up with the hyper-inflation. In late 2020 the 200,000, 500,000 and one million denominations were issued. Notice the portraits have the same Simon Bolívar portrait. Since the last resets worked out so well in 2021 the government once again tried to curb inflation with a new currency, dropping another six zeros and calling it the Digitales Bolívar, even though it isn’t digital. The color of the notes changed – and maybe they saved some ink by removing all those zeros. Notice that that all the Digitales Bolivar have the same portrait Simon Bolívar. Probably easier for the printing and hopefully you don’t have to carry a crate around for a wallet.
This isn’t the first time in this century that this has happened. In 2008 Zimbabwe issued a one hundred Trillion dollar note. To put that in perspective – one billion equals a thousand millions and one trillion equals a thousand billions. So, what does one hundred trillion equal? I don’t know but I think there are 14 zeros involved. And bizarre fact – the 2008 Zimbabwe 100 trillion dollar note wasn’t the largest denomination ever issued.
The vertical front of the 2021 paper 100 Bolívar Sobreno has the portrait of military leader and the first president of Colombia, Simón Bolívar from 1819-1830. He is also pictured in the water mark along with BCV standing for Banco Central de Venezuela. For those of you paying attention Bolívar is the Venezuelan currency namesake. And if you’re not I’ve only said Bolívar a thousand times in the last two minutes. As a military leader Bolívar led what is currently the countries of Venezuela, Bolivia, Colombia, Ecuador, Peru, and Panama to independence from Spain in 1821. An interwoven holographic security thread is above Bolívar’s portrait and has the text BCV.
The horizontal reverse features the coat of arms and the entrance to the Monument to the Motherland that is located at the Carabobo Battle Fields. The statue is taller than the Statue of Liberty. The center engraving is the Batalla de Carabobo, fought in 1821 led by General Bolívar. The decisive victory gained independence of Venezuela. Under UV light embedded security threads can be seen.
That’s it for Venezuela and video number 18. World Banknotes, Foreign Currency, South America, Currency, Money, Collecting, Numismatist, Numismatic, Numismatist, History, Dollar, Bank note, Banknote, Hobby, Coin, Gold, Silver, Unites States Money, Bureau of Engraving & Printing, United States Treasury, Paper Currency, Gold Certificate, Silver Certificate, Legal Tender Note, United States Note, National Banknote, Obsolete Banknote, Federal Reserve Note, Federal Reserve Bank Note, National Bank Note, Small Size Bank Notes, U.S. Mint, US Mint, Obsolete Bank note
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