Sunday, February 14, 2010

Third Least Valuable Coin in the World

I have on the table in front of me what might be the second least valuable coin in the world, ever. This Zimbabwean ten cent piece, or Z$.10, went from being worth $.10 US when it was minted, along with the Zimbabwean state, in 1980, to being worth $3x10 ^ -16 in February 2009, on the black market, or a hefty few thousand times more according to the official rate. Zimbabwe stopped using its own money as legal tender in April 2009, in favor of US dollars, South African Rand, and Botswanan Bulos.

This coin, made out of cupro-nickel, is presumably worth much more melted down than it has been for a long time - in fact, in 2009 I probably could have gone to Zimbabwe with $1 US and bought, the entire Cupro-Metal supply of Africa in Z$.10 coins. So if this dramatically unvaluable coin is only the 3rd least valuable coin in the world, what are the first and second least valuable? Why Z$.01 and Z$.05 of course.