Home World & Ancient Coins Forum

Lowest Denomination in Use

Now that we have had an interesting thread on the highest value lowest circulating denomination, can somebody tell me what the lowest low denomination is?

Comments

  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭
    In Ukraine we regularly get 1 kopek coins in change, and I throw them in jar. There are eight of them to a US cent. There are also 2 kopek and 5 kopek coins that are still worth less than a cent. Lot of people just dump them in the street. My daughter and I have a competition to see who can find the most money on the ground.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • BailathaclBailathacl Posts: 1,011 ✭✭✭
    Has hyperinflation in Zimbabwe driven all coinage out of circulation there? If not, their coins must represent very very small fractions of a U.S. cent.
    "The Internet? Is that thing still around??" - Homer Simpson
  • SapyxSapyx Posts: 1,977 ✭✭✭✭✭


    << <i>Has hyperinflation in Zimbabwe driven all coinage out of circulation there? If not, their coins must represent very very small fractions of a U.S. cent. >>


    Coinage disappeared from everyday use in Zimbabwe over a decade ago. As is the case with most hyperinflationary economies, coinage is one of the earliest victims.


    << <i>In Ukraine we regularly get 1 kopek coins in change, and I throw them in jar. There are eight of them to a US cent... >>


    Ukraine is not alone in this; most former Communist countries in eastern Europe suffered from rampant inflation when communism collapsed, and saw the resultant worthlessness of their coins, which people nevertheless still find use for either because they are so poor or because the regime is in denial about their inflation problems. Family and friends that have visited Moldova brought me back circulation coins which valued down to 5 ban, or .05 leu; there are currently 11 ban to a US cent, though I believe the 1 ban is no longer in everyday usage.

    Other countries which have either endemic poverty or a large proportion of their population living a subsistence-agricultural lifestyle similarly retain coins we westerners would regard as worthless. The Central African States monetary union only recently began issuing 2 franc coins (= slightly less than half a US cent) when people complained about withdrawing the 1 franc. The Solomon Islands still officially uses its 1 and 2 cent coins, long after everyone else in the Australasia-Pacific region stopped doing so; there are 7 Solomon cents to 1 US cent.
    Waste no more time arguing what a good man should be. Be one.
    Roman emperor Marcus Aurelius, "Meditations"

    Apparently I have been awarded one DPOTD. B)
  • According to the "Banco de Mocambique" website, the 1 centavo coin is still in circulation:

    LINK

    ...right now 1 US$ = 31 MZN

    The oddest thing is that when the Metical was revalued in 2006, the exchange rate was about 1 US$ = 25 MZN, so that 1 centavo coin was valued at 25 to 1 US cent from day one...

    Jose
Sign In or Register to comment.