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Encyclopedia > Banknote
Numismatics
Terminology
Currency
Coins, Banknotes,
Forgery

Circulating currencies
Community currencies Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2816 × 2112 pixel, file size: 2. ... Numismatics is the scientific study of currency and its history in all its varied forms. ... This article is an attempt to combine and condense Numismatic and coin collecting terms into concise, informative explainations for the beginner or professional. ... This article is about monetary coins. ... This list of circulating currencies contains the 194 current official or de facto currencies of the 192 United Nations member states, one UN observer state, three partially recognized sovereign states, six unrecognized countries, and 33 dependencies. ... In economics, a local currency, in its common usage, is a currency not backed by a national government (and not legal tender), and intended to trade only in a small area. ...

Company scrip, LETS,
Time dollars

Fictional currencies Company scrip is currency issued in certain industries to pay workers. ... This article or section does not cite its references or sources. ... The Ithaca Hour is an example of time-based currency. ... Fictional currency is currency in works of fiction. ...

Ancient currencies
Greek, Roman,
Byzantine

Medieval currencies
Modern currencies

Africa, The Americas,
Europe, Asia, Oceania
Production
Mint, Designers
Exonumia

Notaphily A mint is a facility which manufactures coins for currency. ... Coining is a form of precision stamping. ... The term milled coinage is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies (hammered coinage) or casting coins from dies. ... Hammered coinage describes the commonest form of coins produced since the invention of coins in the first millennium BC until the early modern period of ca. ... Exonumia is the study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration. ... Look up credit card in Wiktionary, the free dictionary. ... A medal is a small metal object, usually engraved with insignia, that is awarded to a person for athletic, military, scientific, academic or some other kind of achievement. ... A rare and historic Bechuanaland Border Police canteen token. ... Notaphily is the study of paper money or banknotes. ...

Banknotes

Scripophily Scripophily is the study and collection of stocks and Bonds. ...

A £20 Bank of England banknote.

A banknote (often known as a bill or simply note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and under many jurisdictions is used as legal tender. Along with coins, banknotes make up the cash forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative issues, coins are generally used for lower valued monetary units, while banknotes are used for higher values. This article does not cite any references or sources. ... For alternative meanings, see bond (a disambiguation page). ... Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... A promissory note is a contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the other (the payee). ... For other uses, see Bank (disambiguation). ... For other uses, see Money (disambiguation). ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... This article is about monetary coins. ... For other uses, see Money (disambiguation). ...


Originally, the value of money was determined by the intrinsic value of the material the money was made of, such as silver or gold. However, carrying around a lot of precious metal was cumbersome and often dangerous. As an alternative, banknotes would be issued. In financial terms, a note is a promise to pay someone money. Banknotes were originally a promise to pay the bearer an amount of precious metal stored in a vault somewhere. In this way the stored value (usually in gold or silver coins) backing the banknote could transfer ownership in exchange for goods or services. Intrinsic value can refer to: Intrinsic value (finance), of an option or stock. ... This article is about the chemical element. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...

Contents

Convertibility

The ability to exchange a note for some other kind of value is called "convertibility". For example a US silver certificate was "payable in silver on demand" from the Treasury until 1965. If a note is payable on demand for a fixed unit, it is said to be fully convertible to that unit. Limited convertibility occurs when there are restrictions in the time, place, manner or amount of exchange.


A common misconception is that a bank note that is inconvertible is necessarily unbacked (so-called "fiat money"). Most of the confusion centers around the failure to distinguish between two types of convertibility: Look up fiat in Wiktionary, the free dictionary. ...

  1. Physical convertibility, where a unit of currency (a dollar) can be exchanged at the issuing bank for a given physical amount of something, and
  2. Financial convertibility, where a dollar can be exchanged at the issuing bank for a dollar's worth of the bank's assets.

The importance of financial convertibility can be seen by imagining that people in a community one day find themselves with more paper currency than they wish to hold — for example, when the main shopping season has ended. If the paper currency is physically convertible (for one ounce of silver, let us suppose), people will return the unwanted paper currency to the bank in exchange for silver, but the bank could head off this demand for silver by selling some of its own bonds to the public in exchange for its own paper currency. For example, if the community has 100 units of unwanted paper money, and if people intend to redeem the unwanted 100 units for silver at the bank, the bank could simply sell 100 units worth of bonds or other assets in exchange for 100 units of its own paper currency. This will soak up the unwanted paper and head off people's desire to redeem the 100 units for silver.


Thus, by conducting this type of open market operation — selling bonds when there is excess currency and buying bonds when there is too little — the bank can maintain the value of the paper currency at one ounce of silver without ever redeeming any paper currency for silver. In fact, this is essentially what all modern central banks do, and the fact that their currencies might be physically inconvertible is made irrelevant by the maintenance of financial convertibility. Note that financial convertibility cannot be maintained unless the bank has sufficient assets to back the currency it has issued. Thus, it is an illusion that any physically inconvertible currency is necessarily also unbacked.


History

Paper money originated in two forms: drafts, which are receipts for value held on account, and "bills", which were issued with a promise to convert at a later date.


Money is based on the coming to pre-eminence of some commodity as payment. The oldest monetary basis was for agricultural capital: cattle and grain. In Ancient Mesopotamia, drafts were issued against stored grain as a unit of account. A "drachma" was a weight of grain. Japan's feudal system was based on rice per year – koku. For other uses, see Mesopotamia (disambiguation). ... Drachma, pl. ... A koku ) is a unit of volume in Japan, equal to ten cubic shaku. ...


At the same time, legal codes enforced the payment for injury in a standardized form, usually in precious metals. The development of money then comes from the role of agricultural capital and precious metals having a privileged place in the economy.


Such drafts were used for giro systems of banking as early as Ptolemaic Egypt in the first century BC. what is it thomas? A giro, also called a direct deposit, is a banking term for a method of payment. ... The Ptolemaic dynasty in Egypt began following Alexander the Greats conquest in 332 BC and ended with the death of Cleopatra VII and the Roman conquest in 30 BC. It was founded when Ptolemy I Soter declared himself Pharaoh of Egypt, creating a powerful Hellenistic state from southern Syria...


The perception of banknotes as money has evolved over time. Originally, money was based on precious metals. Banknotes were seen as essentially an I.O.U. or promissory note: a promise to pay someone money, but not actual money. As banknotes became more widely used, they became more accepted as equivalent to precious metal. With the gradual removal of precious metals from the monetary system, banknotes evolved to represent fiat money. An IOU is a promise of money, goods, services, or other items of value, and may be either written or verbal. ... A promissory note is a contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the other (the payee). ...


Generally, a central bank or treasury is solely responsible within a state or currency union for the issue of banknotes. Historically, many different banks or institutions may have issued banknotes in a country. By virtue of the complex constitutional setup in the United Kingdom, two of the union's four constituent countries (Scotland and Northern Ireland) continue to print their own banknotes for domestic circulation, with the UK's central bank (the Bank of England) printing notes which are legal tender in England and Wales, and are also usable as money in the rest of the UK. In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar. ... The factual accuracy of this article is disputed. ... This article is about the country. ... Northern Ireland (Irish: ) is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... Headquarters Coordinates , , Governor Mervyn King Central Bank of United Kingdom Currency Pound sterling ISO 4217 Code GBP Base borrowing rate 5. ...


First banknotes in the world

Jiaozi (Song Dynasty), the world's earliest paper money from China.
Jiaozi (Song Dynasty), the world's earliest paper money from China.

The use of paper money as a circulating medium is intimately related to shortages of metal for coins. In ancient China coins were circular with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money he had with that person. If he showed the paper to that person he could regain his money. Eventually from this paper money "jiaozi" originated. In the 600s there were local issues of paper currency in China and by 960 the Song Dynasty, short of copper for striking coins, issued the first generally circulating notes. A note is a promise to redeem later for some other object of value, usually specie. The issue of credit notes is often for a limited duration, and at some discount to the promised amount later. The original notes were restricted in area and duration, but the Yuan Dynasty, facing massive shortages of specie to fund their occupation of China, began printing paper money without restrictions on duration. By 1455, in an effort to rein in economic expansion and end hyperinflation, the new Ming Dynasty ended paper money, and closed much of Chinese trade. Image File history File links Jiao_zi. ... Image File history File links Jiao_zi. ... China is the worlds oldest continuous major civilization, with written records dating back about 3,500 years and with 5,000 years being commonly used by Chinese as the age of their civilization. ... Jiaozi Jiaozi (Chinese: ; pinyin: ) is a form of banknote which appeared in 10th century Sichuan. ... Centuries: 6th century 7th century 8th century Decades: 550s - 560s - 570s - 580s - 590s - 600s - 610s - 620s - 630s - 640s - 650s Years: 600 601 602 603 604 605 606 607 608 609 World population grows to about 208 million. ... Events Edgar the Peaceable crowned King of England. ... Northern Song in 1111 AD Capital Kaifeng (960–1127) Linan (1127–1276) Language(s) Chinese Religion Buddhism, Taoism, Confucianism Government Monarchy Emperor  - 960-976 Emperor Taizu  - 1126–1127 Emperor Qinzong  - 1127–1162 Emperor Gaozong  - 1278–1279 Emperor Bing History  - Zhao Kuangyin taking over the throne of the Later Zhou... A commodity metal, historically gold and silver, backing money or currency. ... Capital Dadu Language(s) Mongolian Chinese Government Monarchy Emperor  - 1260-1294 Kublai Khan  - 1333-1370 (Cont. ... ... no changes . ... Certain figures in this article use scientific notation for readability. ... For other uses, see Ming. ...


Banknotes in Europe

In Europe the first paper money consisted of paper 'coins' issued in Protestant Leyden (today, Leiden) in the Netherlands during the Spanish siege of 1574. Over 5000 of the estimated 14,000 residents of Leyden died, mostly due to starvation. Even leather (often used to create emergency currency) was boiled and used to feed the people. So to create currency, the residents took covers and paper from hymnals and church missives and created paper planchets, which were struck using the same dies that were previously used to mint coins. For other uses, see Europe (disambiguation). ... Leyden redirects here. ... Year 1574 was a common year starting on Friday (link will display the full calendar) of the Julian calendar. ...


The first proper European banknotes were issued by Stockholms Banco, a predecessor of the Bank of Sweden, in 1660, although the bank ran out of coins to redeem its notes in 1664 and ceased operating in that year. Stockholms Banco (also known as the Bank of Palmstruch or Palmstruch Bank) in Sweden was the first European bank to print banknotes. ... Sveriges Riksbank is the central bank of Sweden, sometimes called just the Bank of Sweden. ... // Events January 1 - Colonel George Monck with his regiment crosses from Scotland to England at the village of Coldstream and begins advance towards London in support of English Restoration. ... Events March 12 - New Jersey becomes a colony of England. ...


Banknotes in the Americas

Banknotes are often kept in wallets.
Banknotes are often kept in wallets.

Emergency paper money hand-written on playing cards was used in French Canada from 1685. Download high resolution version (2048x1536, 823 KB)A picture of a wallet. ... Download high resolution version (2048x1536, 823 KB)A picture of a wallet. ... A wallet is a small (usually pocket-sized) storage device. ... Some typical modern playing cards. ... Events February 6 - James Stuart, Duke of York becomes King James II of England and Ireland and King James VII of Scotland. ...


In the early 1690s, the Massachusetts Bay Colony was the first of the colonies to issue the permanently circulating banknotes. The use of fixed denominations and printed banknotes came into use in the 18th century. A map of the Massachusetts Bay Colony Capital Charlestown, Boston History  - Established 1629  - New England Confederation 1643  - Dominion of New England 1686  - Province of Massachusetts Bay 1692  - Disestablished 1692 The Massachusetts Bay Colony (sometimes called the Massachusetts Bay Company, for the institution that founded it) was an English settlement on... (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...


In the United States, public acceptance of banknotes in replacement of precious metals was hastened in part by Executive Order 6102. This order carried the threat of a maximum $10,000 fine and a maximum of ten years in prison for anyone who kept more than $100 of gold in preference to banknotes. Similar measures were taken worldwide, with similar results. Executive Order 6102 was signed on April 5, 1933 by U.S. President Franklin D. Roosevelt to prohibit the hoarding of privately held gold coins and bullion in the United States, in an attempt to address the causes and effects of the Great Depression. ...


Materials used for banknotes

Paper banknotes

Most banknotes are made of dense 80 to 90 grams per square meter cotton paper (see also paper), sometimes mixed with linen, abaca, or other textile fibres. Generally, the paper used is different from ordinary paper: it is much more resilient, resists wear and tear, and also does not contain the usual agents that make ordinary paper glow slightly under ultraviolet light. Cotton paper is made from 100% cotton fibers. ... For other uses, see Paper (disambiguation). ... Torn linen cloth, recovered from the Dead Sea Linen is a material made from the fibers of the flax plant. ... For other uses, see Ultraviolet (disambiguation). ...


Early Chinese banknotes were printed on paper made of mulberry bark and this fibre is used in Japanese banknote paper today. Species See text. ...


Unlike most printing and writing paper, banknote paper is impregnated with polyvinyl alcohol or gelatin to give it extra strength.


Most banknotes are made using the mould made process in which a watermark and thread is incorporated during the paper forming process.


The thread is a simple looking security component found in most banknotes. It is however often rather complex in construction comprising fluorescent, magnetic, metallic and micro print elements. By combining it with watermarking technology the thread can be made to surface periodically on one side only. This is known as windowed thread and further increases the counterfeit resistance of the banknote paper. This process was invented by Portals, part of the De La Rue group in the UK.


Recently this company has introduced many new features to the banknote world including Cornerstone, Platinum and Optiks, all registered trade marks of De La Rue. Cornerstone uses watermarking to reduce the number of corner folds by strengthening this part of the note. Platinum is a special coating to reduce the dirt picked up by banknotes. Optiks is a new thread based security feature that creates a plastic window in the paper which is very hard to copy.


Counterfeiting and security measures on paper banknotes

The first kinegram banknote, the 1988 Austrian 5000 Schilling note (Mozart)

The ease with which paper money can be created, by both legitimate authorities and counterfeiters, has led both to a temptation in times of crisis such as war or revolution to produce paper money which was not supported by precious metal or other goods, thus leading to hyperinflation and a loss of faith in the value of paper money, e.g. the Continental Currency produced by the Continental Congress during the American Revolution, the Assignats produced during the French Revolution, the paper currency produced by the Confederate States of America and the Individual States of the Confederate States of America, the financing of the First World War by the Central Powers (by 1922 1 gold Austro-Hungarian krone of 1914 was worth 14,400 paper Kronen), the devaluation of the Yugoslav Dinar in the 1990s, etc. Banknotes may also be overprinted to reflect political changes that occur faster than new currency can be printed. Image File history File links Download high resolution version (909x441, 196 KB)first kinegram® banknote of world; last 5000 Schilling banknote of Austria before Euro. ... Image File history File links Download high resolution version (909x441, 196 KB)first kinegram® banknote of world; last 5000 Schilling banknote of Austria before Euro. ... The Schilling was the currency of Austria until the Euro exchange in 2002. ... Wolfgang Amadeus Mozart Wolfgang Amadeus Mozart (January 27, 1756 – December 5, 1791) was one of the most significant and influential of all composers of Western classical music. ... Continental Currency. ... The Continental Congress was the first national government of the United States. ... John Trumbulls Declaration of Independence, showing the five-man committee in charge of drafting the Declaration in 1776 as it presents its work to the Second Continental Congress in Philadelphia The American Revolution refers to the period during the last half of the 18th century in which the Thirteen... Assignats were banknotes issued by the National Constituent Assembly in France during the French Revolution. ... The French Revolution (1789–1815) was a period of political and social upheaval in the political history of France and Europe as a whole, during which the French governmental structure, previously an absolute monarchy with feudal privileges for the aristocracy and Catholic clergy, underwent radical change to forms based on... Motto Deo Vindice (Latin: Under God, Our Vindicator) Anthem (none official) God Save the South (unofficial) The Bonnie Blue Flag (unofficial) Dixie (unofficial) Capital Montgomery, Alabama (until May 29, 1861) Richmond, Virginia (May 29, 1861–April 2, 1865) Danville, Virginia (from April 3, 1865) Language(s) English (de facto) Religion... A $50 banknote from North Carolina, printed in 1863 and in circulation until 1864. ... Ypres, 1917, in the vicinity of the Battle of Passchendaele. ... European military alliances in 1914. ... User(s) Austria-Hungary, Liechtenstein Subunit 1/100 heller fillér Symbol K, kr Coins 1, 2, 10, 20 heller / fillér 1, 2, 5, 10, 20, 100 Krone(n) / korona Banknotes 1, 2, 10, 20, 25, 50, 100, 200, 1000, 10 000 Krone(n) / korona Austro-Hungarian Bank This... ISO 4217 Code RSD User(s) Serbia (including parts of Kosovo) Inflation 6. ... For the band, see 1990s (band). ...



In 1988, Austria produced the 5000 Schilling banknote (Mozart), which is the first foil application (Kinegram) to a paper banknote in the history of banknote printing. The application of optical features is now in common use throughout the world Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... The Schilling was the currency of Austria until the Euro exchange in 2002. ... Wolfgang Amadeus Mozart Wolfgang Amadeus Mozart (January 27, 1756 – December 5, 1791) was one of the most significant and influential of all composers of Western classical music. ...


A lot of countries now have holograms on their banknotes which was first invented in 1947. Now, countries including Canada, EU, South Korea, UK, Tanzania have holograms on their paper money.


Polymer banknotes

Main article: Polymer banknote
The first Australian polymer banknote, the 1988 $10 commemorative issue

In 1983, Costa Rica and Haiti issued the first Tyvek and the Isle of Man issued the first Bradvek polymer (or plastic) banknotes; these were printed by the American Banknote Company and developed by DuPont. In 1988, after significant research and development by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Reserve Bank of Australia, Australia produced the first polymer banknote made from biaxially-oriented polypropylene (plastic), and in 1996 became the first country to have a full set of circulating polymer banknotes of all denominations. Since then, other countries to adopt circulating polymer banknotes include Bangladesh, Brazil, Brunei, Chile, Indonesia, Malaysia, Mexico, Nepal, New Zealand, Papua and New Guinea, Romania, Singapore, the Solomon Islands, Sri Lanka, Thailand, Viet Nam, Western Samoa and Zambia, with other countries issuing commemorative polymer notes, including China, Kuwait, the Northern Bank of Northern Ireland, Taiwan. Other countries indicating plans to issue polymer banknotes include Nigeria. In 2005, Bulgaria issued the world's first hybrid paper-polymer banknote. The first Guardian polymer banknote in circulation. ... Australian $10 note. ... Australian $10 note. ... Year 1983 (MCMLXXXIII) was a common year starting on Saturday (link displays the 1983 Gregorian calendar). ... Tyvek house wrap Tyvek suit Tyvek USPS Express Mail Envelope Tyvek is a brand of spunbonded olefin, a synthetic material made of high-density polyethylene fibers; the name is a registered trademark of the DuPont Company. ... Bradvek was a form of Tyvek polymer, produced by Du Pont. ... The American Bank Note Company is a major worldwide engraver of national currency, postage stamps and stock and bond certificates. ... Dupont, DuPont, Du Pont, or du Pont may refer to: // E.I. du Pont de Nemours and Company, the worlds third largest chemical company Du Pont Motors Gilbert Dupont, a French stock brokerage part of retail banking network Crédit du Nord ST Dupont, a French manufacturer of fine... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is the national government body for scientific research in Australia. ... The Reserve Bank of Australia came into being on 14 January 1960 to operate as Australias central bank and banknote issuing authority. ... The first Guardian polymer banknote in circulation. ... Polypropylene is a thermoplastic polymer, used in a wide variety of applications, including Australian banknotes. ... Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ... The Independent State of Samoa (conventional long form) or Samoa (conventional short form) is a country comprising a group of islands in the South Pacific Ocean. ... Northern Ireland (Irish: ) is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...


Polymer banknotes were developed to improve durability and prevent counterfeiting through incorporated security features, such as optically variable devices that are extremely difficult to reproduce. For other uses, see Counterfeit (disambiguation). ...


The uptake of polymer banknotes has however been comparatively slow with an estimated 1.5% of the Worlds banknotes now using this material. Problems with print durability and the very bulky nature of creased polymer notes rank high amongst the problems limiting polymer uptake. Some countries such as Thailand have reverted to paper after testing polymer notes in circulation.


Other materials

Over the years, a number of materials other than paper have been used to print banknotes. This includes various textiles, including silk, and materials such as leather. For other uses of this word, see Silk (disambiguation). ... Modern leather-working tools Leather is a material created through the tanning of hides and skins of animals, primarily cattlehide. ...


Silk and other fibers have been commonly used in the manufacture of various banknote papers, intended to provide both additional durability and security. Crane and Company patented banknote paper with embedded silk threads in 1844 and has supplied paper to the United States Treasury since 1879. Banknotes printed on pure silk "paper" include "emergency money" (Notgeld) issues from a number of German towns in 1923 during a period of fiscal crisis and hyperinflation. Most notoriously, Bielefeld produced a number of silk, leather, velvet, linen and wood issues, and although these issues were produced primarily for collectors, rather than for circulation, they are in demand by collectors. Banknotes printed on cloth include a number of Communist Revolutionary issues in China from areas such as Xinjiang, or Sinkiang, in the United Islamic Republic of East Turkestan in 1933. Emergency money was also printed in 1902 on khaki shirt fabric during the Boer War. Jan. ... The United States Department of the Treasury is a Cabinet department, a treasury, of the United States government established by an Act of U.S. Congress in 1789 to manage the revenue of the United States government. ... 1879 (MDCCCLXXIX) was a common year starting on Wednesday (see link for calendar). ... Year 1923 (MCMXXIII) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... Certain figures in this article use scientific notation for readability. ... Bielefeld is a district-free town in the Regierungsbezirk Detmold in the north-east of North Rhine-Westphalia, Germany. ... It has been suggested that Textile be merged into this article or section. ... For the county in Shanxi province, see Xinjiang County. ... This article or section does not cite its references or sources. ... Year 1933 (MCMXXXIII) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... 1902 (MCMII) was a common year starting on Wednesday (see link for calendar). ... Khaki is a common material in military uniforms Khaki is a type of fabric or the colour of such fabric. ... Combatants British Empire Orange Free State South African Republic Commanders Sir Redvers Buller Lord Kitchener Lord Roberts Paul Kruger Louis Botha Koos de la Rey Martinus Steyn Christiaan de Wet Casualties 6,000 - 7,000 (A further ~14,000 from disease) 6,000 - 8,000 (Unknown number from disease) Civilians...


Leather banknotes (or coins) were issued in a number of sieges, as well as in other times of emergency. During the Russian administration of Alaska, banknotes were printed on sealskin. A number of 19th century issues are known in Germanic and Baltic states, including the towns of Dorpat, Pernau, Reval, Werro and Woisek. In addition to the Bielefeld issues, other German leather Notgeld from 1923 is known from Borna, Osterwieck, Paderborn and Pößneck. A siege is a military blockade of a city or fortress with the intent of conquering by force or attrition, often accompanied by an assault. ... Official language(s) None[1] Spoken language(s) English 85. ... Image of Tartu street Tartu (German, Polish Dorpat, Russian Юpьeв Yuryev) is the second largest city of Estonia, with its population of 101,246 (the Population Census data is from 2000) in an area of 38. ... Year 1923 (MCMXXIII) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... Borna can mean: Two different places in Saxony, Germany: Borna (Leipzig), in the Leipziger Land district A part of Bahretal in the Sächsische Schweiz district BART) - breakdancer or: Borna disease, an infection neurological of warm-blooded animals caused by the Borna virus This is a disambiguation page — a list...


Other issues from 1923 were printed on wood, which was also used in Canada in 1763-1764 during Pontiac's War, and by the Hudson Bay Company. In 1848, in Bohemia, wooden checkerboard pieces were used as money. 1763 was a common year starting on Saturday (see link for calendar). ... 1764 was a leap year starting on Sunday (see link for calendar). ... Pontiac is a marque of automobile produced by General Motors and sold in the United States, Canada and Mexico from 1926 to the present. ... The Hudsons Bay Company building in Montreal The Hudsons Bay Company (HBC) is the oldest corporation in Canada and is one of the oldest in the world still in existence. ... Year 1848 (MDCCCXLVIII) was a leap year starting on Saturday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Monday of the 12-day slower Julian calendar). ... Flag of Bohemia Bohemia (Czech: ; German: ) is a historical region in central Europe, occupying the western and middle thirds of the Czech Republic. ...


Even playing cards were used for currency in France in the early 19th Century, and in French Canada from 1685 until 1757, in the Isle of Man in the beginning of the 19th Century, and again in Germany after World War I. Some typical modern playing cards. ... Events February 6 - James Stuart, Duke of York becomes King James II of England and Ireland and King James VII of Scotland. ... 1757 was a common year starting on Saturday (see link for calendar). ... “The Great War ” redirects here. ...


Vending machines and banknotes

People are not the only economic actors who are required to accept banknotes. In the late twentieth century machines were designed to recognize banknotes of the smaller values long after they were designed to recognize coins distinct from slugs. This capability has become inescapable in economies where inflation has not been followed by introduction of progressively larger coin denominations (such as the United States, where several attempts to introduce dollar coins in general circulation have largely failed). The existing infrastructure of such machines presents one of the difficulties in changing the design of these banknotes to make them less counterfeitable, that is, by adding additional features so easily discernable by people that they would immediately reject banknotes of inferior quality, for every machine in the country would have to be updated. Dollar coins have been minted in the United States in gold, silver, and base metal versions. ...


Destruction

Banknotes have a limited lifetime, after which they are collected for destruction, usually recycling or shredding. A banknote is removed from the money supply by banks or other financial institutions due to everyday wear and tear from its handling. Banknote bundles are passed through a sorting machine that determines whether a particular note needs to be shredded, or are removed from the supply chain by a human inspector if they are deemed unfit for continued use – for example, if they are mutilated or torn. Counterfeit banknotes are destroyed unless they are needed for evidentiary or forensic purposes. Wear and tear is a term for damage that naturally and inevitably occurs due to normal use or aging. ...


Contaminated banknotes are also decommissioned. A Canadian government report indicates:

Types of contaminants include: notes found on a corpse, stagnant water, contaminated by human or animal body fluids such as urine, feces, vomit, infectious blood, fine hazardous powders from detonated explosives, dye pack and/or drugs...[1]

These are removed from circulation primarily to prevent the spread of diseases.

Banknotes from all around the world donated by visitors to the British Museum, London.

Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2592 × 1944 pixel, file size: 1. ... Image File history File linksMetadata Size of this preview: 800 × 600 pixelsFull resolution (2592 × 1944 pixel, file size: 1. ... The British Museum in London, England is one of the worlds greatest museums of human history and culture. ... This article is about the capital of England and the United Kingdom. ...

Paper money collecting as a hobby

Banknote collecting, or Notaphily, is a rapidly growing area of numismatics. Although generally not as widespread as coin and stamp collecting, the hobby is increasingly expanding. Prior to the 1990s, currency collecting was a relatively small adjunct to coin collecting, but the practice of currency auctions, combined with larger public awareness of paper money have caused a boom in interest and values of rare banknotes. Notaphily is the study of paper money or banknotes. ... Numismatics is the scientific study of currency and its history in all its varied forms. ... This article does not cite any references or sources. ...


In the 1950s, Robert Friedberg published the landmark book Paper Money of the United States. Friedberg devised an organizing number system of all types of U.S. banknotes; the system is widely accepted among collectors and dealers to this day, and the volume has been regularly updated.


Another pioneer of cataloguing banknotes was Albert Pick, a well-known German notaphilist (born 15 May 1922 in Cologne) who published a number of catalogs of European paper money, and, in 1974, the first Standard Catalog of World Paper Money. His collection of over 180,000 banknotes was eventually housed at the Bavarian Mortgages and Exchange Bank (Bayerischen Hypotheken- und Wechselbank, now HypoVereinsbank). This catalog underwent several incarnations, and currently is published as a three volume group. Volume I, called Specialized Issues, includs notes issued by local authorities, which circulated in a limited area. Volume II called General Issues covers notes issued on a national scope, dated 1368 through 1960. Volume III covers Modern Issues dated 1960 to present. Each of the volumes is updated regularly, with Volume III now updated every year, Volumes I and II every 3 or so years. While Pick no longer edits the catalogs (since 1994 the honor has passed to George S. Cuhaj), the catalogs are still commonly referred to as 'Pick Catalogs' and dealers and collectors alike refer to banknotes by their 'Pick number.' Current issues of the three volumes include: Notaphilist is a banknote, paper money or polymer banknote collector, a person who collects banknotes, paper money, paper currency or plastic notes. ... Year 1974 (MCMLXXIV) was a common year starting on Tuesday (link will display full calendar) of the 1974 Gregorian calendar. ... Image:Hypo-Haus 03-10-28-012. ...

  • Standard Catalog of World Paper Money: Specialized Issues (10th Ed. Vol. 1) by George S. Cuhaj. Paperback - 1200 pages. (January 2006).
  • Standard Catalog of World Paper Money: General Issues to 1368-1960 (11th Ed. Vol. 2) by George S. Cuhaj (Editor). (December 2006).
  • Standard Catalog of World Paper Money: Modern Issues, 1961-present (12th Ed. Vol. 3) by George S. Cuhaj. (May 2006).

For years, the mode of collecting banknotes was through a handful of mail order dealers who issued price lists and catalogs. In the early 1990s, it became more common for rare notes to be sold at various coin and currency shows via auction. The illustrated catalogs and "event nature" of the auction practice seemed to fuel a sharp rise in overall awareness of paper money in the numismatic community. Entire advanced collections are often sold at one time, and to this day single auctions can generate well in excess of $1 million dollars in gross sales. Today, eBay has surpassed auctions in terms of highest volume of sales of banknotes. However, as of 2005, rare banknotes still sell for much less than comparable rare coins. There is wide consensus in the paper money collecting arena that this disparity is diminishing as paper money prices continue to rise at a rapid rate. eBay headquarters in San Jose eBay North First Street satellite office campus (home to PayPal) eBay Inc. ...


There are many different organisations and societies around the world for the hobby including the International Bank Note Society (IBNS).


See also

Numismatics Portal

Image File history File linksMetadata Download high resolution version (910x910, 596 KB)Media:Example. ... The first Guardian polymer banknote in circulation. ... Main article: Banknote This is a gallery of banknotes, also known as bills or notes, from around the world. ... The widely used $10,000 Hell note. ... This is a list of current motifs on the banknotes of different countries. ... For other uses, see Bank (disambiguation). ... A used note is a banknote that has been in circulation (as opposed to a freshly printed, uncirculated banknote). ... For other uses, see Counterfeit (disambiguation). ... An modern electronic note counter with counterfeit detection capabilities. ... Various Federal Reserve Notes - note that they are missing serial number imprints A Federal Reserve Note (FRNs or ferns) is a type of banknote issued by the Federal Reserve System and is the main type of paper currency in the United States. ... United States Notes (also known as Legal Tender Notes because of their payment obligation stating This Note is a Legal Tender) are banknotes characterized by a red seal and serial number. ... 5-cent postage currency note 10-cent postage currency note Postal Currency or Postage Currency was a series of US Post Office notes printed in 5¢, 10¢, 25¢, and 50¢ denominations issued on August 21, 1862 and used until May 27, 1863. ...

References

  1. ^ Trichur, Rita (2007-09-28). Bankers wipe out dirty money. Toronto Star. Retrieved on 2007-09-28.

Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 271st day of the year (272nd in leap years) in the Gregorian calendar. ... The Toronto Star is Canadas highest-circulation newspaper, though its print edition is distributed almost entirely within Ontario. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 271st day of the year (272nd in leap years) in the Gregorian calendar. ...

External links

World Banknote Galleries
Polymer Plastic Banknote Collections
Banknote News Sites
Banknote Collector Organisations
Banknote Printers

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