Gradually, Then Suddenly
ZIM66, 2007, 5 ZWR

Slot Comment:

3rd Dollar Banknote AB Prefix

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Note Details

  

Set Details
Note Description: 5 Dollars 2007 - Wmk: Zimbabwe Bird & 5
Grade: 67 EPQ
Country: Zimbabwe
Note Number: ZIM66
Signatures/
Vignettes: 		- Sign. #8
Certification #: 8046904-051
Owner: Revenant
Set Category: World
Set Name: Gradually, Then Suddenly
Slot Name: ZIM66, 2007, 5 ZWR
Research: See PMG's Census Report for this Note

Owner's Description

Some of the worst historical hyperinflation events include (per a 2013 business insider article):
1: Hungary, Aug 1945–Jul 1946 (daily inflation rate: 207%)
2: Zimbabwe, Mar 2007–Nov 2008 (98%)
3: Yugoslavia, Apr 1992–Jan 1994 (65%)
4: Weimar Germany, Aug 1922–Dec 1923 (21%)
5: Greece, May 1941–Dec 1945 (18%)
6: China, Oct 1947–May 1949 (14%)
7: Peru, July1990–Aug 1990 (5%)
8: France, May 1795–Nov 1796 (5%)
9: Nicaragua, Jun 1986–Mar 1991 (5%)

Hanke and Crus (2012), listed 56 hyperinflations in history. These include:
Georgia (Mar 1992-Apr 1992)
Argentina (May 1989–Mar 1990)
Bolivia (Apr 1984–Sep 1985)
Belarus (Jan 1992–Feb 1992)
Kyrgyzstan (Jan 1992–Jan 1992)
Kazakhstan (Jan 1992–Jan 1992)
Kazakhstan (Nov 1993–Nov 1993)
Austria (Oct 1921–Sep 1922)
Bulgaria (Feb 1991–Mar 1991)
Uzbekistan (Jan 1992–Feb 1992)
Azerbaijan (Jan 1992–Dec 1994)
Congo (Oct 1991–Sep 1992)
Peru (Sep 1988–Sep 1988)
Taiwan (Oct 1948–May 1949)
Hungary (Mar 1923–Feb 1924)
Chile (Oct 1973–Oct 1973)
Estonia (Jan 1992–Feb 1992)
Angola (Dec 1994–Jan 1997)
Brazil (Dec 1989–Mar 1990)
Democratic Republic of Congo (Aug 1998–Aug 1998)
Poland (Oct 1989–Jan 1990)
Armenia (Jan 1992–Feb 1992)
Tajikistan (Oct 1995–Nov 1995)
Latvia (Jan 1992–Jan 1992)
Turkmenistan (Nov 1995–Jan 1996)
Philippines (Jan 1944–Dec 1944)
Yugoslavia (Sep 1989–Dec 1989)
Lithuania (Jan 1992–Jan 1992)
Belarus (Aug 1994–Aug 1994)
Taiwan (Feb 1947-Feb 1947)
Germany (Jan 1920–Jan 1920)

Looking at that data, it can be seen that several Western European nations experienced hyperinflation together in the early 1920s and each was counted as a separate event by Hanke and Crus even though these are all linked events related to the end of WWI. The same is true of some of the events in the mid-1940s with regard to WWII. Several Eastern European countries experienced hyperinflation together in the first part of 1992. For some of these countries it ended in a month or two, where for others it lasted into 1994. Again, Hanke and Crus treat these as independent events in their listing. It’s also worth noting that this listing treats a hyperinflation event as only the time during which the country’s inflation rate meets the official definition for hyperinflation. If inflation slows for a time, but then shortly thereafter reaccelerates, they treat it as two separate hyperinflation events. Such was the case for Germany in the 1920s and Hungary in the 1940s per that listing. Based on this, listing 56 hyperinflation events might be overstating the count to some degree. However, it shows that hyperinflation events aren’t all that uncommon. That list also does not include hyperinflations in ancient Rome, the hyperinflation of the Confederate currency in the American civil war, and a few others that are known to have occurred historically.

Unofficial data from North Korea, based on the price or rice, and black-market exchange rates, that nation experienced hyperinflation from Dec 2009 to January 2011.

Venezuela began to experience hyperinflation (instead of just really severe inflation) in November 2016 and is still experiencing hyperinflation as of 2019. The country currently has the highest inflation rate in the world.

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 side of the Trillions Series banknotes all feature a pair of images that have some kind of national, cultural or economic significance to Zimbabwe. These images are different on each denomination though some of the images seem to have been used more than once on different denominations throughout the series.

The 5 dollar banknote features an image of the Kariba dam and an image of an elephant. While Kariba Dam has appeared on Zimbabwean banknotes all the way back to the beginning, with ZIM1, this artwork does not appear to be the same as any of those used in previous series. This artwork seems to have premiered with the Third Dollar series, on this note. This image of the dam also appears on ZIM90 (50 Trillion). The image of the elephant used here also appears on ZIM75 (100 000 ZWR), ZIM83 (1 Billion ZWR) and ZIM90 (50 Trillion ZWR). Elephants appear on the backs of 1st dollar and 2nd dollar issues but this appears to be artwork introduced with the 3rd dollar.

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