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Inflation of the Bolivar: Venezuela 2016 Issues

Bio page for Proteus By Proteus on 2017-02-28

Because I have a great personal affinity for South America, it is with some regret, but with a total lack of surprise, that I am announcing Venezuela's new issue of paper money. This new issue, initially dated at August 18th, 2016, is comprised of Bolivares, the national currency of Venezuela, in denominations of 500, 1000, 2000, 5000, 10000, and 20000. The designs will seem familiar as they mimic the previous issue, with some minute changes in design details, a major change in colors, and a huge change in denominations.

Though the inflation of Venezuela's money is absolutely horrific for the country (is inflation ever a good thing?) there is at least one minuscule benefit: at least for a time, it seems like the store owners might be able to put away their weight scales. Inflation in Venezuela has been so terrible that in some instances money is not counted, but weighed!

The banknotes of this issue are not being introduced all in one shot. As of today only the 500, 5000, 10000, and 20000 Bolivares banknotes are in circulation. These are quite readily available on eBay, including sets of the four notes that are circulation at the moment. These current banknotes do have some appeal, though the design is not completely overhauled. The vivid colors do make then an attractive set for paper money collectors.

Members Comments

Bio page for Proteus
Comment by Proteus on 2017-02-28
"What do you guys think about purchasing this set? It is available for just over $80 on eBay. My thoughts are to wait a little bit. The set is still incomplete ( the 1000 and 2000 Bolivares notes are still to be issued) and inflation continues to rise quite quickly, suggesting with quite a high degree of certainty that these notes will become cheaper with time."
Bio page for akaardvark387
Comment by akaardvark387 on 2017-03-07
"I will wait for some time even before buying one of these notes. The inflation is one aspect, since it is almost certain that even with the two missing notes it should soon cost much less than $80. The second aspect for me is that this issue doesn't add anything in beauty. The colors of the first set are much more appealing, at least on pictures. "
Bio page for paxbrit
Comment by paxbrit on 2017-03-07
"I will wait some time, as well. When the first Series was introduced, I shopped around and bought two sets, complete to the top denomination of 100 Bolivares, for the sum of $38.66 apiece. One for the collection, and one to tuck away for appreciation. I can purchase the same set today for $2.99 on Ebay. So the rule for me now, is, don't purchase currency from socialist countries until AFTER the inevitable collapse."

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