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Least valuable currency



 
 
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  #41  
Old March 16th 07, 11:41 AM posted to misc.invest.misc,rec.collecting.coins,rec.collecting.paper-money,24hoursupport.helpdesk,sci.econ
note.boy
external usenet poster
 
Posts: 2,418
Default Least valuable currency

Does it cost less than 5 pennies? Billy

"MJKolodziej" wrote in message
...
candy costs more than a penny.
mk

"note.boy" wrote in message
...

"Sgt.Sausage" wrote in message
...

"KnowledgeSeeker" wrote in message
ups.com...
Where can I find a list of the countries with the least valuable
currency? I am NOT looking for a place to do foreign exchange trading
to create fabulous wealth. So, please do not spam me. I am working
on a project that is, well... not commercial. So, I am looking for an
easy to use source of data. Thanks.


I dunno, but you reminded me of the first time I became
a millionaire. Florence, Italy, 1998 on my honeymoon. Arrived
on the train from Switzerland. We were gonna be in Italy for
the whole week so I needed to dump some dollar denominated traveler's
checks for the local currency (the Lira -- this was pre
Euro).

I think it was just under $650 bucks I turned in and
after exchange fees I had just over a Million Lira. I
was a millionaire!!

The smallest bill I ever saw over there was a 1,000 Lira.
I think that might have bought a stick of chewing gum. Folks
carried around 10,000 Lira bills around like we carry a
10-spot U.S. dollar in our pocket.


Sometimes in Italy rather than give back change in the form of a very low
value coin a wrapped sweetie (piece of candy) would be given, this was
back in the 1970s I think.

Perhaps this should be tried in the USA? :-) Billy





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  #42  
Old March 17th 07, 03:07 PM posted to misc.invest.misc,rec.collecting.coins,rec.collecting.paper-money,sci.econ
Andy F.
external usenet poster
 
Posts: 2
Default Obsolete Currency and Coin (was Least valuable currency)


"Padraic Brown" wrote in message
...
On 15 Mar 2007 11:23:11 -0700, "KnowledgeSeeker"
wrote:

On Mar 15, 11:06 am, "Dik T. Winter" wrote:
In article . com
"KnowledgeSeeker" writes:
...
Which brings up an interesting question. What happened/happens to
the
currency & coin in a country when it converts to the Euro or when
there is a coup (or regime change) or when countries merge or when
countries split into more than one?

Depends. In the Euro countries the old money has gone out of
circulation,
in some countries some is worthless by now, other money can still be
redeemed at banks (similar when in a country a banknote change, in some
countries the old banknote will lose its value after a certain time, in
other not). When there is a change of regime old money may or may not
be
replaced by new money. When countries split the parts may or may not
retain
the use of the old currency. When countries merge, old currency may or
may
not retain its value, but I do not know when the last merger did occur.
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland,
+31205924131
home: bovenover 215, 1025 jn amsterdam,
nederland;http://www.cwi.nl/~dik/


Let me revise the question:
What happened/happens to the currency & coin in a country when it
converts to the Euro or when there is a coup (or regime change) or
when countries merge or when countries split into more than one?
Assume that the question only applies to situations where the former
currency is no longer an official standard/legal tender/etc. (in some
cases this may be an immediate thing and in others it may be after
some transition period).


That's the same question you just asked! Do you really mean "what do
they do with all the junk coins and paper?" The answer to that also is
"it depends". Metal in coins can often be recycled; paper notes can be
shredded.

A lot of the coins end up in bags and sold on Ebay and similar venues
as bulk foreign coin lots. I've gotten a lot of rather high value
Spanish coins this way (they can still be converted to euros in
Spain).

Seems like there would be a potentially huge inventory of currency &
coin (with the wrong portrait) stored in some vault(s) somewhere. And
I am just curious as to what physically happens to these items? I
understand that these items may not have any value as "money" but they
still take up space until something (?) happens. Just curious.


John, I think it was, pointed to a recent story about the newish
Zimbabwe currency. Their economy is so sunk that the value of the Z$
dropped so much that the newly delivered notes are now worthless.

May be similar to the question of what happens to the bills of one of
the countries mentioned in this thread that has hyper-inflation and
then somehow lops off 7-8 zeros of value. What happens to the old
bills that still appear as million or billion unit notes? Again, just
curuious.


A good question. In a country like that where the only change is the
loss of some zeros, the old currency notes still represent "money" as
issued by that country. Unless they demonetise those old notes (thus
declaring them officially worthless), all that money still holds its
value with respect to the new iteration. It would still have to be
securely stored and accounted for, and it would still be "on the
books".

When the currency goes back to the central bank, it can be destroyed.



  #43  
Old March 18th 07, 10:10 AM posted to misc.invest.misc,rec.collecting.coins,rec.collecting.paper-money,24hoursupport.helpdesk,sci.econ
Iagos Fool
external usenet poster
 
Posts: 231
Default Least valuable currency

"note.boy" wrote in message
...
Does it cost less than 5 pennies? Billy


Candy costing less than a nickel does exist, but it is difficult to find.
Generally, even if you buy it in packs, a stick of chewing gum will cost 6
cents or more. Bubble gum is more expensive.

They could use chewing gum instead of pennies, and rip little pieces off
when making change. No rounding necessary.


IF


  #44  
Old March 26th 07, 05:09 PM posted to misc.invest.misc,rec.collecting.coins,rec.collecting.paper-money,24hoursupport.helpdesk,sci.econ
[email protected]
external usenet poster
 
Posts: 2
Default Least valuable currency

On 15 mar, 10:33, "KnowledgeSeeker"
wrote:
On Mar 15, 7:31 am, "Dik T. Winter" wrote:



In article .com "RF" writes:


On Mar 14, 3:48 pm, "Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote:
"KnowledgeSeeker" wrote in message
oups.com...


Where can I find a list of the countries with the least valuable
currency? I am NOT looking for a place to do foreign exchange trading
to create fabulous wealth. So, please do not spam me. I am working
on a project that is, well... not commercial. So, I am looking for an
easy to use source of data. Thanks.


What may be a good list today with almost certainly be no longer a good
list some time from now. When figures go out of the window, countries
have the tendency to revaluate their currency, as was last done in
Turkey (they dropped the last six zeros).

[SNIP]

--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland;http://www.cwi.nl/~dik/


Feel free to answer the original question with information for today.
I will not hold you to your answer after the day that you provide it.


http://en.wikipedia.org/wiki/Least_v... rrency_units

simple, effective...

  #45  
Old March 27th 07, 02:37 PM posted to misc.invest.misc,rec.collecting.coins,rec.collecting.paper-money,24hoursupport.helpdesk,sci.econ
KnowledgeSeeker
external usenet poster
 
Posts: 28
Default Least valuable currency

On Mar 26, 11:09 am, wrote:
On 15 mar, 10:33, "KnowledgeSeeker"
wrote:



On Mar 15, 7:31 am, "Dik T. Winter" wrote:


In article .com "RF" writes:


On Mar 14, 3:48 pm, "Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote:
"KnowledgeSeeker" wrote in message
oups.com...


Where can I find a list of the countries with the least valuable
currency? I am NOT looking for a place to do foreign exchange trading
to create fabulous wealth. So, please do not spam me. I am working
on a project that is, well... not commercial. So, I am looking for an
easy to use source of data. Thanks.


What may be a good list today with almost certainly be no longer a good
list some time from now. When figures go out of the window, countries
have the tendency to revaluate their currency, as was last done in
Turkey (they dropped the last six zeros).

[SNIP]


--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland;http://www.cwi.nl/~dik/


Feel free to answer the original question with information for today.
I will not hold you to your answer after the day that you provide it.


http://en.wikipedia.org/wiki/Least_v...#Current_least...

simple, effective...


Absolutely outstanding. Exactly what I was looking for. Thank you so
much.

 




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