Gradually, Then Suddenly
ZIM10, 2001, 500 ZWD

Slot Comment:

1st Dollar Banknote PS Prefix

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Note Details

  

Set Details
Note Description: Zimbabwe, Reserve Bank
500 Dollars
Grade: 67 EPQ
Country: Zimbabwe
Note Number: ZIM10
Signatures/
Vignettes: 		- Wmk: Zimbabwe Bird & 500
Comment: Exceptional Paper Quality
Certification #: 8046910-039
Owner: Revenant
Set Category: World
Set Name: Gradually, Then Suddenly
Slot Name: ZIM10, 2001, 500 ZWD
Research: See PMG's Census Report for this Note

Owner's Description

This is the first note issued by Zimbabwe with a $500 face value, following only a few years after the first $50 note was introduced (ZIM8). The year this note was introduced, 2001, was the first year with annualized inflation of over 100%, with the official rate at roughly 112%.

The Zimbabwe regular banknotes feature an image of the Chiremba balancing rock formation - three balancing rocks that are in Matobo National Park. The image of the stones was chosen as a metaphor for balancing development and environmental protection following the country’s transition from white-ruled Rhodesia to the majority black ruled Zimbabwe. The Matobo Hills are composed entirely of granite and it makes for some unique and interesting formations.

The back of this note depicts the Hwange Thermal Power Station - the biggest power plant in Zimbabwe with an installed capacity of 920 MW. It is owned by the national electricity company, Zeza Holdings. It was built in two stages and consists of four units of 120 MW each and two units of 220 MW each. Construction of Stage 1 commenced in 1973 but was suspended in 1975 due to economic sanctions imposed on Rhodesia. Stage 1's units were commissioned from 1983 to 1986 with Stage 2's units following in 1986/87. The power plant is coal-fired. A 3.5-kilometer conveyor belt brings about 1,750 tons of coal per hour from the nearby Wankie colliery open cast mine. 250,000 tons of coal are stockpiled on site. In more modern times, technical problems due to lacking maintenance have made the plant prone to frequent production stops. In 2009, Namibia's NamPower made agreements to help ZESA to revive the plant’s capacity in exchange for power deliveries. The extensive problems are however continuing and have even led the government to considering a full close-down of the plant. In April 2008, Chadha Power of India secured a contract to refurbish four units at the power plant. In December 2015 China agreed to provide a $1.2 billion loan to add 600 MW of generating capacity to the Hwange station.

I like the design of the ZIM10 note but I think the coloration of the ZIM11 (which is basically the same note with different colors) is more pleasing to the eye. The bright reds of the ZIM10 are striking, to be sure, but red is one of those difficult colors – it’s one of the most agitating colors in the visible spectrum.

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