

Fate of Paper Money







-- Posted Monday, 30 June 2008 | Digg This Article | Source: GoldSeek.com



By Mike Hewitt "Paper money eventually returns to its intrinsic value - zero." (Voltaire, 1694-1778) The first well-known widespread use of paper money was in China during the Tang (618-907 A.D.) dynasty around 800 A.D. Paper money spread to the city of Tabriz, Persia in 1294 and to parts of India and Japan between 1319 to 1331. However, its use was very short-lived in these regions. In Persia, the merchants refused to recognize the new money, thus bringing trade to a standstill. By 1455, after over 600 years, the Chinese abandoned paper money due to numerous problems of over issuance and hyperinflation. Figure 1. This Kuan note is the oldest known banknote in the world. It was made in China circa 1380. Paper money did not arrive in Europe till 1633 with the earliest known English goldsmith certificates being used not only as receipts for reclaiming deposits but also as evidence of ability to pay. In 1656, the Bank of Sweden is founded with a charter that authorizes it to accept deposits, grant loans and mortgages, and issue bills of credit. By 1660, the English Goldsmiths' receipts became a convenient alternative to handling coins or bullion. The realisation by goldsmiths that borrowers would find them just as convenient as depositors marks the start of the use of banknotes in England. In 1661, the Bank of Sweden becomes first chartered bank in Europe to issues notes known as the paper daler. Figure 2. A 50-Daler note from the Bank of Sweden issued in 1666. At present there are 177 currencies being used in the world. Below is a list containing all currencies currently in circulation. Not all currencies are widely used and accepted, such as the various banknotes of the pound sterling. Currency Name (Currency Code) Inception Duration Venezuela Bolivar Fuerte 2008 7 mos. Sudanese Pound (SDG) 2007 1 Turkish New Lira (TRY) 2005 3 Suriname Dollar (SRD) 2004 4 Afghanistan Afghani (AFN) 2002 6 Yugoslav Noviy (Super) Dinar (SCD) 2002 6 Transnistrian New Ruble (PDN) 2001 7 Belarus Newer Ruble (BYR) 2000 8 Tajikistan Somoni (TJS) 2000 8 Angola Kwanza (new) (AOA) 1999 9 Bulgarian New Lev (BGN) 1999 9 Euro (EUR) 1999 9 Russian Federation New Ruble (RUB) 1999 9 Congolese Franc (CDF) 1998 10 Eritrean Nakfa (ERN) 1997 11 Ukraine Hryvnia (UAH) 1996 12 Bosnia Convertible Mark (BAM) 1995 13 Georgia Larit (GEL) 1995 13 Polish New Zloty (PLN) 1995 13 Serbian Dinar (RSD) 1994 14 Brazil Real (BRL) 1994 14 Croatian Kuna (HRK) 1994 14 Cuba "Peso Convertible" (CUC) 1994 14 Yugoslav Noviy (Super) Dinar (YUM) 1994 14 Somaliland Shilling (SQS) 1994 14 Uzbekistan Sum (UZS) 1994 14 Armenian Dram (AMD) 1993 15 Azerbaijan Manat (AZM) 1993 15 Colombia Peso (COP) 1993 15 Czech Koruna (CZK) 1993 15 Kazakhstan Tenge (KZT) 1993 15 Kyrgyzstan Som (KGS) 1993 15 Latvia Lat (LVL) 1993 15 Lithuania Lita (LTL) 1993 15 Macedonian New Denar (MKD) 1993 15 Mexico New Peso (MXN) 1993 15 Moldovan Leu (MDL) 1993 15 Myanmark Dollar Foreign Exchange Certificates (MMX) 1993 15 Namibia Dollar (NAD) 1993 15 Turkmenistan Manat (TMM) 1993 15 Uruguay Peso Uruguayo (UYU) 1993 15 Argentina Peso Convertible (ARS) 1992 16 Estonia Kroon (EEK) 1992 16 Slovak Koruna (SKK) 1992 16 Slovenia Tolar (SIT) 1992 16 Nicaragua Cordoba Oro (NIO) 1991 17 Peru Sol Nuevo (PEN) 1991 17 Yemeni Rial (YER) 1990 18 Myanmar Kyat (MMK) 1989 19 Bolivian Boliviano (New) (BOB) 1987 21 Cook Islands Dollar (CKD)* 1987 21 Uganda New Shilling (UGX) 1987 21 Aruba Guilder (AWG) 1986 22 New Franc Guineen (GNF) 1986 22 Israel New Shekel (ILS) 1985 23 Viet Nam Dong (VND) 1985 23 Madagascar Ariary (MGA) 1983 25 Iceland Krona (ISK) 1981 27 Maldive Islands Rufiyaa (MVR) 1981 27 Vanuatu Vatu (VUV) 1981 27 Mozambique Metical (MZM) 1980 28 Cambodia New Riel (KHR) 1980 28 Lesotho (Ma)Loti (LSL) 1980 28 Zimbabwe Dollar (ZWD) 1980 28 Ghana New Cedi (GHC) 1979 29 Laos New Kip (LAK) 1979 29 Sri Lanka Rupee (LKR) 1978 30 Djibouti Franc (DJF) 1977 31 Sao Tome and Principe Dobra (STD) 1977 31 Solomon Islands Dollar (SBD) 1977 31 Botswana Pula (BWP) 1976 32 Ethiopian Birr (ETB) 1976 32 Chilean Peso (CLP) 1975 33 Comoros Franc (KMF) 1975 33 Papua New Guinea Kina (PGK) 1975 33 Belize Dollar (BZD) 1974 34 Bhutan Ngultrum (BTN) 1974 34 Somali Shilin Soomaali (SOS) 1974 34 Swaziland Lilangeni (SZL) 1974 34 Barbados Dollar (BBD) 1973 35 Mauritania Ouguiya (MRO) 1973 35 Nigerian Naira (NGN) 1973 35 Qatari Rial (QAR) 1973 35 United Arab Emirates Dirham (AED) 1973 35 Bangladesh Taka (BDT) 1972 36 Rial Omani (OMR) 1972 36 Cayman Islands Dollar (KYD) 1971 37 Gambia Dalasi (GMD) 1971 37 Northern Irish Pound (IBP) 1971 37 Libyan Dinar (LYD) 1971 37 Malawi Kwacha (MWK) 1971 37 Scotland Pound (SSP) 1971 37 Bermudan Dollar (BMD) 1970 38 Fiji Dollar (FJD) 1969 39 Jamaica Dollar (JMD) 1969 39 Maltese Lira (MTL) 1968 40 Zambian Kwacha (ZMK) 1968 40 Brunei Dollar (BND) 1967 41 New Zealand Dollar (NZD) 1967 41 Western Samoa Ta'la (WST) 1967 41 Singapore Dollar (SGD) 1967 41 Australian Dollar (AUD) 1966 42 Bahamas Dollar (BSD) 1966 42 Kenyan Shilling (KES) 1966 42 Tanzania Shilling (TZS) 1966 42 Tonga Pa'anga (TOP) 1966 42 Albanian "Heavy" Lek (ALL) 1965 43 Bahraini Dinar (BHD) 1965 43 Indonesian Rupiah (IDR) 1965 43 Algerian Dinar (DZD) 1964 44 Burundi Franc (BIF) 1964 44 Rwanda Franc (RWF) 1964 44 Sierra Leone Leone (SLL) 1964 44 Malaysian Ringgit (MYR) 1963 45 South Korean Won (KRW) 1962 46 Kuwaiti Dinar (KWD) 1961 47 South African Rand (ZAR) 1961 47 Franc Metropolitan (XMF) 1960 48 Tunisian Dinar (TND) 1960 48 North Korea New Won (KPW) 1959 49 Moroccan Dirham (MAD) 1959 49 Tunisian Dinar (TND) 1958 50 French Polynesian CFP Franc (XPF) 1957 51 Chinese Renminbi Yuan (CNY) 1953 55 Romanian Leu (RON) 1952 56 Saudi Riyal (SAR) 1952 56 Jordan Dinar (JOD) 1950 58 Faeroe Islands Kronur (FOK) 1949 59 Taiwan New Dollar (TWD) 1949 59 Lebanese Pound (LBP) 1948 60 Pakistan Rupee (PKR) 1948 60 Syrian Pound (SYP) 1948 60 Dominican Republic Peso Oro (DOP) 1947 61 Hungary Forint (HUF) 1946 62 Liberian Dollar (LRD) 1944 64 Paraguay Guarani (PYG) 1943 65 West African CFA Franc (XOF) 1941 67 Central African CFA Franc (XAF) 1941 67 Mauritius Rupee (MUR) 1934 74 Nepalese Rupee (NPR) 1933 75 Iranian Rial (IRR) 1932 76 Iraqi Dinar (IQD) 1931 77 Thailand Baht (THB) 1928 80 Gibraltar Pound (GIP) 1713 81 Honduras Lempira (HNL) 1926 82 Guatemala Quetzal (GTQ) 1925 83 Liechtenstein Franc (LIF)* 1921 87 El Salvador Colon (SVC) 1919 89 Guyana Dollar (GYD) 1916 92 Mongolia Tugrik (MNT) 1915 93 Cape Verde Escudo (CVE) 1914 94 Cyprus Pound (CYP) 1914 94 Falkland Islands Pound (FKP) 1908 100 French Pacific Territories Franc (XPF) 1905 103 Norway Krone (NOK) 1905 103 Somali N-Shilling (SON) 1905 103 Trinidad and Tobago Dollar (TTD) 1905 103 Panama Balboa (PAB) 1903 105 Macao Pataca (MOP) 1901 107 Saint Helena Pound (SHP) 1901 107 Seychelles Rupee (SCR) 1900 108 Philippine Piso (PHP) 1898 110 Costa Rican Colon (CRC) 1896 112 Hong Kong Dollar (HKD) 1895 113 Egyptian Pound (EGP) 1885 123 Danish Krone (DKK) 1873 135 Swedish Krona (SEK) 1873 135 Haiti Gourde (HTG) 1872 136 Japanese Yen (JPY) 1871 137 Cuban Peso (CUP) 1859 149 Canadian Dollar (CAD) 1858 150 Guernsey Pound Sterling (GGP) 1827 181 India Rupee (INR) 1823 185 Netherlands Antillan Guilder (ANG) 1821 187 Swiss Franc (CHF) 1799 209 US Dollar (USD) 1792 216 Pound Sterling (GBP) 1694 314 The median age for a live currency is 37 years and at least one, the Zimbabwe dollar, is in the throes of hyperinflation. Excluding the early paper currencies of China up until the 15th century and the majority of paper currencies that existed in China until 1935, there are 609 currencies no longer in circulation. Of these, at least 153 were destroyed as a result of hyperinflation caused by over-issuance. The remainder were revalued, destroyed by military occupation/liberation, renamed for political reasons, or were converted to another currency. The median age for these currencies is only seventeen years. Currency Name (Currency Code) Inception Demonetized Duration

(Years) Destroyed by

Hyperinflation DDR Kuponmark (DDK) 1948 1948 1 mo. Yes Yugoslav 1994 Dinar (YUG) 1994 1994 1 mo. Yes Hungarian Bilpengoe (HUB) 1946 1946 1.5 mos. Yes German Gold Mark (DEG) 1923 1923 2 mos. Yes Hungarian Adopengoe (HUA) 1946 1946 2 mos. Yes Netherlands Rijksdaalder (NLX) 1904 1904 2.5 mos. Slovenia Laibach Lira (SIL) 1944 1944 2.5 mos. Hungarian Milpengoe (HUM) 1946 1946 3 mos. Yes North Korean Won (KPO) 1959 1959 3 mos. Yes Kazakhstan Ruble (KZR) 1993 1993 3 mos. Yes Yugoslav October Dinar (YUO) 1993 1993 3 mos. Yes Krajina (Serbian Republic) October Dinar (HRKO) 1993 1994 3 mos. Yes Polish Zloty Lublin (PLL) 1944 1945 4 mos. Serbian Republic October Dinar (BASO) 1993 1994 4 mos. Hungarian Red Army Pengoe (HUR) 1945 1945 6 mos. Yes Rupiah Kepulauan Riau (IDRR) 1963 1964 8.5 mos. Uzbekistan Coupon Sum (UZC) 1993 1994 8.5 mos. Yes Japan Base Metal Kammon (JPK) 1904 1905 9 mos. Yes Japan Silver Momme (JPM) 1904 1905 9 mos. Yes Japan Gold Oban (JPO) 1904 1905 9 mos. Yes Lithuania Talonas (LTT) 1992 1993 9 mos. Yes Ukraine Karbovanetz (UAK) 1992 1993 11 mos. Yes Transnistrian Ruble (PDR) 1994 1994 11 mos. Yes French Franc (Assignats) (FRA) 1795 1796 1 Yes French Franc (Mandats Territorial) (FRM) 1796 1797 1 Yes Confederate States Reformed Dollar (CSAR) 1864 1865 1 Yes German New Guinea Mark (PGM) 1914 1915 1 German Southwest Africa Mark (NAP) 1914 1915 1 Transcaucasian Ruble (ZKRR) 1917 1918 1 Austrian Krone (ATK) 1918 1919 1 North Russian Ruble (RUNR) 1919 1920 1 East Africa Florin (XEAF) 1920 1922 1 Russian Ruble of 1922 (RUFR) 1922 1922 1 Yes Soviet Ruble of 1923 (SUB) 1923 1924 1 Yes Austrian Allied Military Schillings (ATM) 1944 1945 1 Czechoslovak Red Army Korunu (CSR) 1944 1945 1 Romanian Red Army Leu (ROR) 1944 1945 1 Yes Azerbaijan Toman (IRZT) 1945 1946 1 Sinkiang Gold Yuan (CNSG) 1948 1949 1 Chinese Gold Chin Yuan (CNG) 1948 1949 1 Yes Ghana Old Cedi (GHO) 1965 1967 1 Brazil Cruzado Novo (BRN) 1989 1990 1 Yes Slovenia Tolar Bons (SIB) 1991 1992 1 Moldovan Ruble Kupon (MDR) 1991 1992 1 Yes Moldovan Leu Cupon (MDC) 1992 1993 1 Albanian Lek Valute (ALV) 1992 1993 1 Serbian Republic Reformed Dinar (BASR) 1992 1993 1 Yes Krajina (Serbian Republic) Reformed Dinar (HRKR) 1992 1993 1 Yes Latvia Ruble (LVR) 1992 1993 1 Yes Macedonian Denar (MKN) 1992 1993 1 Yes Yugoslav Reformed Dinar (YUR) 1992 1993 1 Yes Brazil Cruzeiro Real (BRR) 1993 1994 1 Yes Maryland Red Shillings (CMDR) 1781 1783 2 New Jersey New Shilling (CNJN) 1781 1783 2 Vermont State Shilling (CVTS) 1781 1783 2 Haiti New Paper Gourde (HTN) 1870 1872 2 Yes Peru Inca (PER) 1880 1882 2 Germany Darlenskasse Ost Ruble (DEOR) 1916 1918 2 Armenian Ruble (AMR) 1918 1920 2 Azerbaijan Republic Ruble (AZR) 1918 1920 2 Khiva Tenga (KHVT) 1918 1920 2 Soviet Armenian Ruble (AMSR) 1920 1922 2 Soviet Azerbaijan Ruble (AZSR) 1920 1922 2 Far Eastern Republic Ruble (DBRR) 1920 1922 2 Soviet Transcaucasian Ruble (ZKSR) 1922 1924 2 Spanish Nationalist Peseta (ESPN) 1936 1939 2 Reichs Karbowanez (UAC) 1942 1944 2 US "Hawaiian" Dollar (USDH) 1942 1944 2 Italy American Military Lira (ITA) 1943 1945 2 Italy British Military Lira (ITB) 1943 1945 2 Italy "Badaglio" Lira (ITLB) 1943 1945 2 Italy "Mussolini" Lira (ITLM) 1943 1945 2 Korean Military Won (KROM) 1945 1947 2 French Franc Nouveau (FRF) 1960 1962 2 Biafran Pound (BIAP) 1968 1970 2 Oman Rial Saidi (OMS) 1970 1972 2 Argentina Peso Argentino (ARP) 1983 1985 2 Yes Yugoslav Convertible Dinar (YUN) 1990 1992 2 Yes Belarus Ruble (BYL) 1992 1994 2 Bosnia Dinar (BAD) 1992 1994 2 Yes Georgia Kupon Larit (GEK) 1993 1995 2 Yes Krajina (Serbian Republic) 1994 Dinar (HRKG) 1994 1996 2 Yes Maryland Black Shillings (CMDB) 1780 1783 3 Confederate States Dollar (CSAD) 1861 1864 3 Mexico "Inconvertible" Paper Peso (MXI) 1913 1916 3 Georgian Ruble (GER) 1918 1921 3 Danzig Mark (DZGM) 1920 1923 3 Soviet Khiva Ruble (SUVT) 1920 1923 3 Memel Mark (MMLM) 1920 1923 3 Canton Dollar (CNDC) 1935 1938 3 Netherlands Indies Gumpyo Gulden (IDDJ) 1941 1944 3 Yes Romania Infinex Leu (ROI) 1941 1944 3 Yes Philippine Guerilla Peso (PHG) 1942 1945 3 Malaya Gumpyo Dollar (MYAG) 1942 1945 3 Yes Netherlands Indies Gumpyo Roepiah (NIDR) 1943 1946 3 Nationalist Manchurian Yuan (CNNY) 1945 1948 3 Japanese Allied Yen (JPA) 1945 1948 3 German Allied Mark (DEA) 1945 1948 3 Yes German Sperrmark (DES) 1951 1954 3 Portuguese India Escudo (INPE) 1959 1962 3 Reunion Franc (REF) 1959 1962 3 Yes Katanga Franc (KATF) 1960 1963 3 Viet Nam South Dong (VNS) 1975 1978 3 Laos Liberation Kip (LAL) 1976 1979 3 Yes Brazil Cruzado (BRC) 1986 1989 3 Yes Nicaragua Cordoba (NIC) 1988 1991 3 Yes Brazil Cruzeiro (BRE) 1990 1993 3 Yes Russian Ruble (RUR) 1991 1994 3 Bosnia New Dinar (BAN) 1994 1997 3 Alabama Confederate Dollar (CSALD) 1861 1865 4 Arkansas Confederate Dollar (CSAKD) 1861 1865 4 Florida Confederate Dollar (CSFLD) 1861 1865 4 Georgia Confederate Dollar (CSGAD) 1861 1865 4 Louisiana Confederate Dollar (CSLAD) 1861 1865 4 Mississippi Confederate Dollar (CSMSD) 1861 1865 4 North Carolina Confederate Dollar (CSNCD) 1861 1865 4 South Carolina Confederate Dollar (CSSCD) 1861 1865 4 Tennessee Confederate Dollar (CSTND) 1861 1865 4 Texas Confederate Dollar (CSTXD) 1861 1865 4 Spanish Escudo (ESE) 1864 1868 4 Yugoslav Kronen (YUK) 1918 1922 4 Ruble Sovnazki (RUFS) 1918 1922 4 Latvia Ruble (LVB) 1918 1922 4 Yes Russian Ruble Sovnazki (RUFS) 1918 1922 4 Yes Soviet Bukhara Ruble (BKSR) 1920 1924 4 Germany Behelfszahlungsmittel (XDEB) 1940 1944 4 Yes Nanking/CRB Yuan (CNPN) 1941 1945 4 Burmese Gumpyo Rupee (BUG) 1941 1945 4 Croatian Kuna (HRC) 1941 1945 4 Hong Kong Military Yen (HKG) 1941 1945 4 Philippine Gumpyo Peso (PHJ) 1941 1945 4 Japanese Military Yen (XJPM) 1941 1945 4 Yes French Indochina Military Yen (ICFG) 1941 1945 4 Yes Oceania Gumpyo Pound (XOGP) 1941 1945 4 Yes Serbian Dinar (SRDD) 1941 1945 4 Yes New Hebrides Franc (NHF) 1941 1945 4 French Franc (Allied Military Provisional) (FRP) 1944 1948 4 Djibouti CFA Franc (DJC) 1945 1949 4 Indonesia Guerilla Rupiah (IDG) 1945 1949 4 Taiwan Nationalist Yuan (TWN) 1945 1949 4 Yes German Bekomark 1954 1958 4 German Libkamark 1954 1958 4 Ruanda-Urundi Franc (BRIF) 1960 1964 4 Algerian New Franc (DZF) 1960 1964 4 Zambian Pound (ZMP) 1964 1968 4 Congolese Zaire (CDZ) 1967 1971 4 Croatian Dinar (HRD) 1991 1995 4 Tatarstan Shamil (RUTS) 1992 1996 4 Ethiopian Birr (ETB) 1993 1997 4 Afghanistan Dostumi Afghani (AFAD) 1998 2002 4 Yes Afghanistan Rabbini Afghani (AFAR) 1998 2002 4 Yes Greek Phoenix (GRP) 1828 1833 5 South African Republic Pound (ZAPP) 1905 1910 5 Serbian Dinar (SRBD) 1913 1918 5 Southwest Africa Mark (NAM) 1915 1920 5 Ukraine Grivna (UAG) 1917 1922 5 Rif Republic Riffan (MARR) 1921 1926 5 Italian East Africa Lira (AOIL) 1936 1941 5 Polish Cracow Zloty (PLK) 1940 1945 5 Slovak Koruna (SKO) 1940 1945 5 Netherlands Indies Gumpyo Roepiah (IDDR) 1941 1946 5 Yes Indonesia "Java" Rupiah (IDJ) 1945 1950 5 Indonesia "Nica" Guilder (IDD) 1945 1950 5 Romanian New Leu (RON) 1947 1952 5 Yes Chinese Old Jen Min Piao Yuan (CNP) 1948 1953 5 Yes Bahraini Dinar (AED) 1971 1976 5 Israel Shekel (ILL) 1980 1985 5 Zairean New Zaire (ZRN) 1993 1998 5 Yes Angola Kwanza Reajustado (AOR) 1995 2000 5 Yes Tajikistan Ruble (TJR) 1995 2000 5 Yes French Livre (Assignats) (FRL) 1789 1795 6 Yes West Indies Joe (GYJ) 1830 1836 6 Fiume Krone (FIUK) 1918 1924 6 Estonia Marka (EEM) 1918 1924 6 Yes Bohemia and Moravia Koruna (CSM ) 1939 1945 6 Japan Military Yen (CNPY) 1939 1945 6 Yes Germany Reichskreditkassenscheine (XDEK) 1940 1946 6 North Viet Nam Piastre Dong Viet (VDD ) 1953 1959 6 Yes Rhodesian Pound (RHP) 1964 1970 6 Peru Inti (PEI) 1985 1991 6 Yes Transnistrian Kupon Ruble (PDK) 1994 2000 6 Yes Connecticut Continental Shilling (CCTS) 1776 1783 7 Yes Delaware Continental Shilling (CDES) 1776 1783 7 Yes Maryland Continental Shilling (CMDS) 1776 1783 7 Yes Massachusetts Continental Shilling (CMAS) 1776 1783 7 Yes New Jersey Continental Shilling (CNJS) 1776 1783 7 Yes New York Continental Shilling (CNYS) 1776 1783 7 Yes North Carolina Continental Shilling (CNCS) 1776 1783 7 Yes Pennsylvania Continental Shilling (CPAS) 1776 1783 7 Yes Rhode Island Continental Shilling (CRHS) 1776 1783 7 Yes South Carolina Continental Shilling (CSCS) 1776 1783 7 Yes Virginia Continental Shilling (CVAS) 1776 1783 7 Yes Georgia Continental Shilling (CGAS) 1776 1783 7 New Hampshire Continental Shilling (CNHS) 1776 1783 7 Hungarian Korona (HUK) 1918 1925 7 Yes Viet Minh Piastre Dong Viet (VDP) 1946 1953 7 Congolese Republic Franc (CDG) 1960 1967 7 Yes Gambia Pound (GMP) 1964 1971 7 Malawi Pound (MWP) 1964 1971 7 Qatar-Dubai Riyal (XQDR) 1966 1973 7 Peseta Guineana (GQP) 1968 1975 7 Viet Nam New Dong (VNN) 1978 1985 7 Equatorial Guinea Franco (GQF) 1985 1992 7 Argentina Austral (ARA) 1985 1992 7 Yes Russian Federation Ruble (RUR) 1991 1998 7 Yes Belarus New Ruble (BYB) 1994 2001 7 Yes Massachusetts Shilling Middle Tenor (CMAM) 1741 1749 8 Massachusetts Shilling New Tenor (CMAN) 1741 1749 8 New Hampshire Lawful Shilling (CNHL) 1755 1763 8 Chinese Paper Tael (CNTP) 1853 1861 8 Montenegro Perper (MEP) 1910 1918 8 Kiau Chau Dollar (JPY) 1914 1922 8 Germany Darlenskasse Ost Mark (DEOM) 1914 1922 8 Ottoman Empire Paper Lira (XOTL) 1914 1922 8 Polish Marka (PLM) 1916 1924 8 German Kreditsperrmark (DERK) 1931 1939 8 Yes German Effektensperrmark (DERE) 1931 1939 8 Yes Czechoslovak New Koruna (CSC) 1945 1953 8 Irian Barat Rupiah (IDIR) 1963 1971 8 Connecticut Dollar (CCTD) 1783 1792 9 Delaware Dollar (CDED) 1783 1792 9 Georgia Dollar (CGAD) 1783 1792 9 Maryland Dollar (CMDD) 1783 1792 9 Massachusetts Dollar (CMAD) 1783 1792 9 New Hampshire Dollar (CNHD) 1783 1792 9 New Jersey Dollar (CNJD) 1783 1792 9 New York Dollar (CNYD) 1783 1792 9 North Carolina Dollar (CNCD) 1783 1792 9 Pennsylvania Dollar (CPAD) 1783 1792 9 Rhode Island Dollar (CRHD) 1783 1792 9 South Carolina Dollar (CSCD) 1783 1792 9 Virginia Dollar (CVAD) 1783 1792 9 Fiji Old Dollar (FJO) 1865 1874 9 Peking/Tientsin/Northern China/FRB Yuan (CNPP) 1935 1944 9 Meng Chiang (Bank of Inner Mongolia) Yuan (CNPM) 1936 1945 9 Sinkiang Yuan (CNSY) 1939 1948 9 Yes German Registermark (XRDERM/DERR) 1939 1948 9 Yes German Handelsperrmark (DERH) 1939 1948 9 Yes German Reichskreditkassenschein (XDEK) 1939 1948 9 Yes South Korean Hwan (KRH) 1953 1962 9 Rhodesia and Nyasaland Federation Pound (RHFP) 1956 1965 9 Liberian Liberty Dollars (LRDL) 1991 2000 9 Texas Dollar (TXSD) 1836 1846 10 Austro-Hungarian Monetary Union Gulden (XATG) 1857 1867 10 Moldova Ducat (MDD) 1857 1867 10 Colombia Peso (COP) 1905 1915 10 Yes British Military Authority Lira (LYB) 1941 1951 10 Yes Greek New Drachma (GRN) 1944 1954 10 Yes India Haj Pilgrimage Rupee (XINP) 1950 1960 10 Somali Somalo (SOIS) 1950 1960 10 Bulgarian Socialist Lev (BGM) 1952 1962 10 French Affars and Issas Franc (AIF) 1967 1977 10 Rhodesian Dollar (RHD/ZWC) 1970 1980 10 Angola Kwanza Novo (AON) 1990 2000 10 Yes Angola Escudo Portuguese (AOE) 1914 1925 11 Saar Franc (SAAF) 1919 1930 11 Spanish Republican Peseta (ESPR) 1931 1942 11 Persian Gulf Rupee (XPGR) 1959 1970 11 Reunion Nouveau Franc (REN) 1963 1974 11 Ekuele (Epkwele) Guineana (GQE) 1975 1986 11 Liberian JJ Dollars (LRDJ) 1989 2000 11 German Behelfszahlungsmittel fuer die Deutsche Wehrmacht (XDEB) 1936 1948 12 Yes North Korea People's Won (KPP) 1947 1959 12 Yes Albanian Lek Foreign Exchange Certificates (ALX) 1953 1965 12 Saint Pierre CFA Nouveau Franc (XCF) 1960 1972 12 Ghana Revalued Cedi (GHR) 1967 1979 12 New Hampshire Colonial Shilling (CNHC) 1763 1776 13 Rhode Island Colonial Shilling (CRHC) 1763 1776 13 Ecuador Peso (ECP) 1871 1884 13 Soviet Chervonetz (SUC) 1922 1935 13 Manchukuo Yuan (CNMY) 1932 1945 13 Netherlands New Guinea Guilder (NNGG) 1950 1963 13 Argentina Peso Ley 18.188 (ARL) 1970 1983 13 Iraqi "Swiss print" Kurdistan Dinar (IQDS) 1991 2004 13 South German Vereinsgulden (XDSG) 1857 1871 14 Venezuela Venezolano (VEV) 1873 1887 14 Soviet New Ruble (SUM) 1947 1961 14 Guinea Franc (GNI) 1958 1972 14 Nigerian Pound (NGP) 1959 1973 14 Somali Scellino (SOS) 1960 1974 14 Guinea Syli (GNS/GNE) 1972 1986 14 Angola Kwanza (AOK) 1977 1991 14 Connecticut Shilling New Tenor (CCTN) 1740 1755 15 Argentina Peso Fuerte (ARF) 1860 1875 15 Colombian Gold Peso (COG) 1871 1886 15 Crete Drachma (GKD) 1898 1913 15 East Africa Rupee (XEAR) 1905 1920 15 Burmese Rupee (BUR) 1937 1952 15 French Antilles Franc (XNF) 1960 1975 15 Chilean Escudo (CLE) 1960 1975 15 Yes Sudanese Dinar (SDD) 1992 2007 15 Yes US Paper Dollar (USP) 1862 1878 16 Bulgarian Lev Srebro (BGS) 1904 1920 16 Italian Somaliland Rupiah (SOIR) 1909 1925 16 Saudi Arabian Riyal (SAA) 1916 1932 16 Danzig Gulden (DZGG) 1923 1939 16 German Rentenmark (DEN) 1923 1939 16 Estonia Kroon (EEN) 1924 1940 16 Saudi Sovereign Riyal (SAS) 1936 1952 16 Southern Rhodesian Currency Board Pound (RHSP) 1940 1956 16 Saint Pierre CFA Franc (XCFG) 1943 1959 16 Yes Indonesia New Rupiah (IDN) 1949 1965 16 Yes British Caribbean Territories (Eastern Group) Dollar (XBCD) 1951 1967 16 Timor Escudo (TPE) 1959 1975 16 US Continental Dollar (USC) 1775 1792 17 Yes Spanish Real/Peso Duro (ESR) 1847 1864 17 Puerto Rican Peso (PRS) 1881 1898 17 Kiau Chau Dollar (KCHD) 1897 1914 17 Shanghai Dollar (CNDA) 1914 1931 17 Peking Dollar (CNDB) 1914 1931 17 Hankow Dollar (CNDH) 1914 1931 17 Kansu Dollar (CNDK) 1914 1931 17 Kwangtung Dollar (CNDG) 1914 1931 17 Manchurian Dollar (CNDM) 1914 1931 17 Heilungkiang Tiao (CNHT) 1914 1931 17 Kirin Tiao (CNKT) 1914 1931 17 Shantung Dollar (CNDS) 1914 1931 17 Szechwan Dollar (CNDZ) 1914 1931 17 Chinese Soviet Yuan (CNSD) 1931 1948 17 Italian States Franco (XITF) 1798 1816 18 Riksdaler Riksmynt (SEM) 1855 1873 18 Latvia Lat (LVA) 1922 1940 18 Lithuanian Lita (LTB) 1922 1940 18 Italian Lira (XITL) 1925 1943 18 Chinese Custom Gold Units (CNU) 1930 1948 18 Djibouti Franc (DJA ) 1949 1967 18 Angolan Escudo (AOS) 1958 1976 18 Yes Uruguay Peso Nuevo (UYP/UYN) 1975 1993 18 Yes South German Gulden (XDEG) 1838 1857 19 North German Thaler (XDET) 1838 1857 19 Albanian Lek (ALK) 1946 1965 19 North Viet Nam New Dong (VDN/VNC) 1959 1978 19 Brazil Cruzeiro Novo (BRB) 1967 1986 19 Yes Congo CFA Franc (COF) 1973 1992 19 Gabon CFA Franc (GAF) 1973 1992 19 Chinese US Dollar Foreign Exchange Certificates (CNX) 1979 1998 19 Czechoslovak Pre-War Koruna (CSO) 1919 1939 20 Belgian Belga (BEB) 1925 1945 20 Madagascar Franc (MGG) 1925 1945 20 Libyan Pound (LYP) 1951 1971 20 Cambodia Old Riel (KHO) 1955 1975 20 South Viet Nam Republic Dong (VNR) 1955 1975 20 Yes Bulgarian Lev Foreign Exchange Certificates (BGX) 1966 1986 20 Luxembourg Convertible Franc (LUC) 1970 1990 20 Guinea-Bissau Peso (GWP) 1976 1996 20 New Hampshire Shilling New Tenor (CNHN) 1742 1763 21 Connecticut Colonial Shilling (CCTC) 1755 1776 21 Russian Gold Ruble (RUER) 1897 1918 21 Albania Franga (ALF) 1925 1946 21 Hungarian Pengoe (HUP) 1925 1946 21 Yes Laos Old Kip (LAO) 1955 1976 21 Ghana Pound (GHP) 1958 1979 21 Uganda Shilling (UGS/UGW) 1966 1987 21 Yes Mali Franc (MLF/MAF) 1962 1984 22 Zairean Zaire (ZRZ) 1971 1993 22 Yes Luxembourg Thaler (LUT) 1848 1871 23 Yugoslav Serbian Dinar (YUS) 1918 1941 23 Mozambique Libra Esterlina (MZL) 1919 1942 23 Tanu Tuva Aksha (TVAA) 1921 1944 23 Soviet Gold Ruble (SUG) 1924 1947 23 Palestine Pound (PSP) 1927 1950 23 Bolivian Peso (BOP) 1963 1986 23 Yes Brazil Mil Reis (BRM) 1822 1846 24 Yes Central American Escudo (XCAE) 1823 1847 24 Sinkiang Tael (CNST) 1912 1936 24 Yunnan Yuan (CNYY) 1912 1936 24 Austria Old Schilling (ATO) 1923 1947 24 German Reichsmark (DER) 1924 1948 24 Yes Yugoslav Hard Dinar (YUD) 1966 1990 24 Yes Paper Riksdaler Banco (SEO) 1830 1855 25 Austro-Hungarian Gulden (ATG) 1867 1892 25 Colombia Paper Peso (COB) 1880 1905 25 Yes Malaya Dollar (MYAD) 1938 1963 25 South Yemeni Dinar (YDD) 1965 1990 25 Austro-Hungarian Kronen (ATK) 1892 1918 26 Yes Massachusetts Colonial Shilling (CMAC) 1749 1776 27 German East African Rupie (DOAR) 1890 1917 27 Maryland Colonial New Shilling (CMDN) 1748 1776 28 North Carolina Shilling New Tenor (CNCN) 1748 1776 28 South Carolina Colonial Shilling (CSCC) 1748 1776 28 Zanzibar Rupee (ZZR) 1908 1936 28 Lebanon-Syria Pound (XLSP) 1920 1948 28 New Jersey Colonial Shilling (CNJC) 1746 1776 30 Haiti Silver Gourde (HTS) 1814 1844 30 British West Indies Dollar (XBWD) 1935 1965 30 Madagascar and Comores CFA Franc (XMCF) 1945 1975 30 Polish US Dollar Foreign Exchange Certificates (PLX) 1960 1990 30 Soviet Hard Ruble (SUR) 1961 1991 30 Rhode Island Proclamation Shilling (CRHP) 1709 1740 31 Rhode Island Shilling New Tenor (CRHN) 1740 1771 31 Guyana British West Indies Dollar (XBWD) 1935 1966 31 Ethiopian Dollar (ETD) 1945 1976 31 French Indochina Piastre of Commerce (ICFC) 1863 1895 32 Cameroon Mark (CMDM) 1884 1916 32 Angola Angolar (AOA) 1926 1958 32 Israel Pound (ILP) 1948 1980 32 COMECON Transferable Ruble (XTR) 1960 1992 32 Tunisian Franc (TNF) 1858 1891 33 Yes Colombia Peso Oro (COE) 1837 1871 34 Mozambique Mil Reis (MZR) 1877 1911 34 Maldive Islands Rupee (MVP/MVQ) 1947 1981 34 Somalia Shilling (SOS) 1960 1994 34 Yes Korea Yen (KROY) 1910 1945 35 New Hebrides CFP Franc (NHF) 1945 1981 36 North Korea Foreign Won (KPX) 1959 1995 36 Dutch Gulden (BRG) 1624 1661 37 Burmese Kyat (BUK) 1952 1989 37 Bulgarian Heavy Lev (BGL/BGK) 1962 1999 37 Yes Haiti Piastre Gourde (HTT) 1776 1814 38 Union Latine Franc (XULF) 1889 1927 38 Union Latine Lira (XULL) 1889 1927 38 Ethiopian Silver Talari (ETT) 1893 1931 38 Netherlands Indies Gumpyo Gulden (NIDJ) 1905 1943 38 Djibouti Franc Germinal (DJG) 1907 1945 38 North Carolina Proclamation Shilling (CNCP) 1709 1748 39 Rial Hassani (MAH) 1881 1920 39 Tibet Silver Rupee (TBR) 1912 1951 39 Finland New Markka (FIM) 1963 2002 39 Paraguay Paper Peso (PYP) 1903 1943 40 Yes Czechoslovak Hard Koruna (CSK) 1953 1993 40 French Franc (FRF) 1962 2002 40 Georgia Colonial Shilling (CGAC) 1735 1776 41 Philippine Peso Fuerte (PHF) 1857 1898 41 Ottoman Empire Gold Lira (XOTG) 1881 1922 41 South African Pound (ZAP) 1920 1961 41 Sudanese Pound (SDP) 1957 1998 41 Malagasy Franc (MGF) 1963 2004 41 Maryland Proclamation Shilling (CMDP) 1709 1751 42 Italian States Ducat (XITD) 1818 1860 42 Peru Peso (PEP) 1821 1863 42 DDR Ostmark (DDM) 1948 1990 42 East Caribbean Dollar (XCD) 1965 2008 43 Sao Tome and Principe Mil Reis (STM) 1869 1913 44 Bulgarian Lev Zlato (BGZ) 1880 1924 44 Tangier Franco (MATF) 1912 1956 44 Polish Heavy Zloty (PLZ) 1950 1994 44 Yes South Carolina Proclamation Shilling (CSCP) 1703 1748 45 Massachusetts Old Tenor Proclamation Shilling (CMAP) 1704 1749 45 Cape Verde Mil Reis (CVM) 1869 1914 45 Yes Serbian Dinar (SRBD) 1873 1918 45 Finland Markka (FIN) 1917 1962 45 Yes Tonga Pound Sterling (TOS) 1921 1966 45 Brazil Cruzeiro (BRZ) 1942 1987 45 Yes Connecticut Shilling Old Tenor (CCTO) 1709 1755 46 Argentina National Peso (XARP) 1816 1862 46 Yes Hawaii Dollar (HWD) 1847 1893 46 Afghanistan Kabuli Rupee (AFR) 1881 1927 46 French West African Franc (XAOF) 1895 1941 46 East Africa Shilling (XEAS) 1921 1967 46 Haiti Paper Gourde (HTP) 1826 1873 47 Luxembourg Mark (LUM) 1871 1918 47 New Caledonia CFP Franc (NCF) 1945 1992 47 Costa Rican Peso (CRP) 1848 1896 48 South Korean Old Won (KRO) 1905 1953 48 Yes Greek Drachma (GRD) 1954 2002 48 North German Vereinsthaler (XDNT) 1857 1907 50 Yugoslav Federation Dinar (YUF) 1945 1995 50 Yes Chinese Silver Yin Yuan (CNS) 1949 2000 51 Paraguay Peso Fuerte (PYF) 1871 1923 52 Scandinavian Monetary Union Krona (XSMK) 1872 1924 52 Trinidad and Tobago Dollar (TTO) 1899 1951 52 Fiji Pound (FJP) 1917 1969 52 Delaware Colonial Shilling (CDEC) 1723 1776 53 Italian States Lira Austriaca (XITA) 1813 1866 53 German Mark (DEP) 1871 1924 53 Yes British West Africa Pound 1913 1966 53 Western Samoa Pound (WSP) 1914 1967 53 New Hampshire Old Tenor Proclamation Shilling (CNHP) 1709 1763 54 Yes Riksdaler Specie (SES) 1776 1830 54 Paper Riksdaler (SER) 1776 1830 54 Argentina Gold Peso (ARG) 1875 1929 54 Taiwan Yen (TWY) 1895 1949 54 Maltese Pound (MTP) 1914 1968 54 German Deutsche Mark (DEM) 1948 2002 54 Austria (New) Schilling (ATS) 1947 2002 55 Italian States Scudo (XITS) 1814 1870 56 Bermuda Pound (BMP) 1914 1970 56 Paraguay National Peso (PYN) 1813 1870 57 French Oceania (Tahiti) Franc (PFG) 1888 1945 57 Australian Pound (AUP) 1909 1966 57 Montenegro Krone (MEK) 1852 1910 58 Chinese Dollar/Yuan (Chungking/Shanghai Yuan) (CND) 1890 1948 58 Mozambique Escudo (MZE) 1922 1980 58 Union Latine Drachma (XULD) 1868 1927 59 Union Latine Peseta (XULP) 1868 1927 59 Danish Rigsbankdaler (DKR) 1813 1873 60 Greenland Riksbankdaler (GLR) 1813 1873 60 New Zealand Pound (NZP) 1907 1967 60 Dominican Republic Silver Peso (DOS) 1844 1905 61 British North Borneo Dollar (BNBD) 1885 1946 61 Massachusetts Bay Shilling (CMAB) 1642 1704 62 Union Latine Franc (XULF) 1865 1927 62 Union Latine Franc (XULF) 1865 1927 62 Union Latine Franc (XULF) 1865 1927 62 Union Latine Lira (XULL) 1865 1927 62 Portuguese Guinea Escudo (GWE) 1914 1976 62 Iceland Old Krone (ISJ) 1918 1980 62 Yes Timor Pataca (TPP) 1895 1958 63 Sao Tome and Principe Escudo (STE) 1914 1977 63 Andorra Pesseta (ADP) 1936 1999 63 Suriname Guilder (SRG) 1940 2003 63 Yes New Jersey Proclamation Shilling (CNJP) 1682 1746 64 Jamaica Pound (JMP) 1905 1969 64 Danish West Indies Rigsdaler (DWIR) 1784 1849 65 Nicaragua Silver Peso (NIP) 1847 1912 65 Mauritius Dollar (MUD) 1810 1876 66 New York Proclamation Shilling (CNYP) 1709 1776 67 Pennsylvania Proclamation Dollar (CPAP) 1709 1776 67 Virginia Proclamation Shilling (CVAP) 1709 1776 67 New Caledonia Franc Germinal (NCG) 1874 1941 67 Danish West Indies Dalare (DWID) 1849 1917 68 Luxembourg Gulden (LUG) 1848 1918 70 Argentina Paper Peso Moneda National (ARM) 1899 1970 71 Yes Portuguese Account Conto (PTC) 1931 2002 71 El Salvador Peso (SVP) 1847 1919 72 Bulgarian Lev (BGO) 1879 1952 73 Yes Vatican City Lira (VAL) 1929 2002 73 Russian Assignatzia (RUEA) 1768 1843 75 Russian Silver Ruble (RUES) 1839 1914 75 Russian Paper Ruble (RUEP) 1843 1918 75 Belgian Congo Franc (CBEF) 1885 1960 75 Afghanistan Afghani (AFA) 1927 2002 75 Yes Madeira Islands Milreis (IPM) 1834 1910 76 Portuguese Mil Reis (PTM) 1835 1911 76 Nicaragua Gold Cordoba (NIG) 1912 1988 76 Yes Ceylon Rupee (LNR) 1872 1949 77 Guatemala Peso (GTP) 1847 1925 78 Portuguese India Rupia (INPR) 1881 1959 78 Moroccan Franc (MAF) 1881 1959 78 Yes Colombia Peso Oro (COP) 1915 1993 78 Yes Honduras Peso (HNP) 1847 1926 79 Romania Silver Leu (ROS) 1867 1947 80 Yes British Honduras Dollar (BZH) 1894 1974 80 Irish Pound (IEP) 1922 2002 80 Sarawak Dollar (SWKD) 1863 1946 83 Turkish Lira (TRL) 1922 2005 83 Yes German States Convention Thaler (XDCT) 1753 1838 85 Straits Settlements Dollar (STSD) 1857 1946 89 Portuguese Escudo (PTE) 1911 2002 91 Pound Sterling (CAP ) 1766 1858 92 Reunion Franc Germinal (REG) 1851 1944 93 Hyderabad Sicca Rupee (INRH) 1858 1951 93 French Indochina Piastre (ICFP) 1862 1955 93 Newfoundland Dollar (NFLD) 1858 1952 94 Greenland Krone (GLK) 1873 1967 94 Polish Zloty (XPLZ) 1700 1795 95 Taiwan Tael/Dollar (TWT) 1800 1895 95 Portuguese Guinea Mil Reis (GWM) 1879 1974 95 Bahamas Pound (BSP) 1869 1966 97 Russian Empire Paper Ruble (RUEP) 1818 1917 99 Bolivia Boliviano (BOL) 1863 1962 99 Yes Danish Rigsdaler Courant (DKC) 1713 1813 100 Austro-Hungarian Convention Gulden (XATC) 1753 1857 104 East India Rix Dollar (XEIR) 1800 1905 105 Manx Pound (IMP) 1865 1971 106 Iranian Kran (IRK) 1825 1932 107 Franc Guiana (GUF) 1851 1959 108 Guadeloupe Franc (GPF) 1851 1959 108 Martinique Franc (MQF) 1851 1959 108 Algerian Franc Germinal (DZG) 1851 1959 108 Yes Chilean Peso/Condor (CLC) 1851 1959 108 Yes Daler Silvermynt (SED) 1665 1776 111 Greek Silver Drachma (GRS) 1833 1944 111 Yes Uruguay Peso Fuerte (UYF) 1862 1975 113 Yes Paper Daler (SEP) 1661 1776 115 Ecuador Sucre (ECS) 1884 2000 116 Luxembourg Financial Franc (LUL) 1870 1991 121 Monaco Franc Germinal (MCG) 1837 1959 122 Peru Sol (PES/PEH) 1863 1985 122 Yes Silver Piastre/Peso (XESE) 1700 1823 123 Brazil Reis (BRD) 1694 1822 128 Yes Thailand Silver Tical (THT) 1800 1928 128 Netherlands East Indies Guilder (IDDG) 1817 1945 128 Jersey Pound Sterling (JEP) 1840 1971 131 Spanish Peseta (ESP) 1868 2002 134 Italian States Scudo Romano (XITS) 1700 1835 135 Colonial Shilling (XCCS) 1640 1776 136 San Marino Lira (SML) 1865 2001 136 Venezuela Bolivar (VEB) 1871 2008 137 Yes East India Company Dollar (XEID) 1719 1858 139 Austrian Paper Gulden (ATP) 1753 1892 139 Italian Lira (ITL) 1862 2002 140 Newfoundland Pound (NFLP) 1713 1858 145 Bukhara Tenga (BKHT) 1768 1920 152 Portuguese Reis (PRT) 1505 1658 153 Luxembourg Franc (LUF) 1848 2002 154 French Franc Germinal/Franc Poincare (FRG) 1803 1959 156 Yes Azores Milreis (APM) 1750 1911 161 Ceylon Rijksdaalder (Rix Dollar) (XNLR) 1658 1821 163 French Colonial Livre (XFCL) 1654 1820 166 Mexico Silver Peso (MXP) 1822 1992 170 Yes Belgian Franc (BEF) 1831 2002 171 Tibet Tangka (TBT) 1735 1912 177 Poland Florin Zloty (PLF) 1614 1795 181 Portuguese Reis (PTR) 1722 1911 189 Yes Netherlands Guilder (NLG) 1813 2002 189 Danish Gold Krone of Account (DKG) 1513 1713 200 French India Roupie (INFR) 1736 1954 218 Scotland Pound (SSP) 1707 1971 264 Northern Irish Pound (IBP) 1694 1971 277 Korea Won (KROW) 1625 1910 285 Italian States Testone (XITT) 1500 1814 314 Iranian Toman (IRT) 1600 1932 332 Mexican Trade Silver Dollar (XMSD) 1600 1935 335 Chinese Silver Tael (CNT) 1600 1935 335 Yes Hamburg Schilling (HAMS) 1510 1871 361 Ottoman Empire Piastre (XOTP) 1463 1881 418 Italian States Lira (XITL) 1284 1862 578 French Livre Tournois (FRT) 1204 1795 591 Yes The status of the 786 paper currencies listed in this article is shown below. _____



� 2008 DollarDaze ABOUT THE AUTHOR Mike Hewitt is the editor of DollarDaze.org, a website pertaining to commentary on the instability of the global fiat monetary system and investment strategies on mining companies.

-- Posted Monday, 30 June 2008 | Digg This Article | Source: GoldSeek.com

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