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What's with the huge rise in Venezuela 1 Million Bolivar the past few weeks

PRIZ430PRIZ430 Posts: 306 ✭✭✭
in U.S. & World Currency Forum

A pack of 100 unc notes WAS going for around 100 USD mid to end of April, now 500 to 600 USD... Any ideas???

Comments

  • Cougar1978Cougar1978 Posts: 8,218 ✭✭✭✭✭
    edited May 11, 2022 8:34PM

    People paying big bucks on quality world currency. WPM sales from my table at recent show eclipsed coins in both sales and gross margin. Demand for quality world material very strong considering how high they have run up US especially generics. A Mexico NGC 64 second republic silver single digit pop coin got $400. A graded Texas scarce VF 1929 NBN got $550 on. Even my book of raw US and World collector coins in 2x2 (keystone margin) sold well.

    Coins & Currency
  • BillJonesBillJones Posts: 33,974 ✭✭✭✭✭

    If these notes are current in the World economy, perhaps it has something to do the increased U.S. demand for Venezuelan oil.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • JesseKraftJesseKraft Posts: 414 ✭✭✭✭✭

    Could it be because these are now obsolete? It was just in September that Venezuela shed 6 zeros off of their currency, so that 1,000,000 bolivars became 1 bolivar, and printed new currency to suit. Maybe the collector price of these are starting to catch up...

    News article on the revaluation

    Image of the new bills:

    Jesse C. Kraft, Ph.D.
    Resolute Americana Curator of American Numismatics
    American Numismatic Society
    New York City

    Member of the American Numismatic Association (ANA), British Numismatic Society (BNS), New York Numismatic Club (NYNC), Early American Copper (EAC), the Colonial Coin Collectors Club (C4), U.S. Mexican Numismatic Association (USMNA), Liberty Seated Collectors Club (LSCC), Token and Medal Society (TAMS), and life member of the Atlantic County Numismatic Society (ACNS).
    Become a member of the American Numismatic Society!

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