Author Topic: Currencies with low nominal values  (Read 2676 times)

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Offline Harald

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Currencies with low nominal values
« on: November 11, 2011, 09:06:33 PM »
here is another table of currencies, this time the ones with nominal value lower than 1/1000 US-Dollar (represented by their ISO-4217 code -> Wikipedia).

some of them will sooner or later go through a currency reform to get rid of the awkward zeroes. apparently, in Iran and Iraq such plans are getting concrete.

cheers
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Harald
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Offline <k>

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Re: Currencies with low nominal values
« Reply #1 on: November 11, 2011, 09:32:43 PM »
Interesting list, but it's a pity you didn't include the currency codes too. Anyway, here's a handy link:

http://www.xe.com/iso4217.php#section2

It would be interesting to know which countries of this group no longer issue coins. I have a set of Zambia's last coin designs, a wildlife set issued in 1992, but apparently inflation soon took over, and the coins are now defunct. Only banknotes are now used in Zambia.
« Last Edit: November 11, 2011, 10:14:43 PM by coffeetime »
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Offline FosseWay

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Re: Currencies with low nominal values
« Reply #2 on: November 11, 2011, 10:30:16 PM »
The only one on that list that I have personal experience of using in the country concerned is the Belarusian rouble, and can confirm that there are no coins in use there. Not only that, but AFAIK no circulation coins have ever been produced for Belarus -- its coinlessness isn't just the product of inflation having rendered previous but theoretically still current coins valueless. I guess the last coins to have circulated there were Soviet kopeiki.

Offline Harald

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Re: Currencies with low nominal values
« Reply #3 on: November 12, 2011, 09:06:41 PM »
It would be interesting to know which countries of this group no longer issue coins. I have a set of Zambia's last coin designs, a wildlife set issued in 1992, but apparently inflation soon took over, and the coins are now defunct. Only banknotes are now used in Zambia.

my guess:
definitely no coins: Belarus, Iraq, Laos, Somalia
probably no coins: Guinea, Madagaskar, Zambia

cheers
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Harald
http://www.liganda.ch (monetary history & numismatic linguistics)

Offline Figleaf

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Re: Currencies with low nominal values
« Reply #4 on: November 13, 2011, 12:23:00 AM »
My daughter just returned from a trip to Indochina. She didn't see any coins in circulation and could only procure them at markets (she got me a very nice Cambodian 50 centimes 1953.) I would have expected the 200 and 500 dong to circulate, since they are EUR 0.01 and 0.025 respectively and the currency is undervalued.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline <k>

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Re: Currencies with low nominal values
« Reply #5 on: November 13, 2011, 01:53:13 AM »
my guess:
probably no coins: ...Madagaskar...

I see that an ariary and 2 ariary coin were last issued in 2004 and 2003 respectively, according to the catalogues. I was thinking recently about which African sets I would like to see updated with a new design series, and Madagascar was one of them. Perhaps it will happen if they revalue. Angola was top of my list, but since then it has announced that it IS developing a new design series. Mauritius and Kenya were also on my list, but Kenya also has announced it is working on a new design series, as part of getting rid of Kenyatta's face from its coins. Morocco just recently issued a nice new thematic set, and of course Algeria came out with a beautiful one in the 1990s. This is my wish for the 21st century: thematic sets to replace all the boring sets in Africa and "Arabia".
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Offline Harald

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Re: Currencies with low nominal values
« Reply #6 on: November 15, 2011, 08:31:47 PM »
Maybe we could start a game for predicting who is next to announce new coins  ;D

In Africa, from inflation point of view good candidates (now that Burundi is gone) are Uganda, Tanzania, Zambia, Nigeria, DR Congo, Angola.
Madagaskar's political crisis is probably too deep for anyone thinking about coins, but who knows.

For a change on political grounds an easy guess is Libya and, of course, Kenya which had already a law that forbids portraits of living
heads of state (Kibaki was giving a damn about it) and now has extended the ban to the former presidents as well.

cheers
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Harald
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Offline <k>

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Re: Currencies with low nominal values
« Reply #7 on: November 19, 2011, 08:15:21 PM »
Maybe we could start a game for predicting who is next to announce new coins  ;D

In Africa, from inflation point of view good candidates (now that Burundi is gone) are Uganda, Tanzania, Zambia, Nigeria, DR Congo, Angola.


In the case of Zambia and the DR Congo, I think the term "any coins" would be mote appropriate than "new coins".  ;D  Just what does the Congo use for money these days? I did quite like their coins of the 1960s/70s/80s. Will be interesting to see what they come out with - whenever that might be.  ::)
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Offline Harald

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Re: Currencies with low nominal values
« Reply #8 on: November 20, 2011, 08:50:07 PM »
DR Congo uses paper money only.
Last time coins where used there was probably in the 1970s, since the 3 zaire denominated coins in the late 1980s
did probably not circulate a lot.
so, it will probably be difficult to get people to accept them again.

cheers
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Harald
http://www.liganda.ch (monetary history & numismatic linguistics)