Most BNR readers will be aware of hyperinflation and the remarkable paper money issues that have resulted from it. In the last couple of decades, we have had Zimbabwe and its 100 trillion dollar note (P-91) with Venezuela someway behind with a mere 1,000,000 bolivares issue (P-114) in March 2021. In pre-COVID days, hyperinflation issues of Germany’s Weimar Republic were regular attendees at numerous bourses although the scarce 1,000 rentenmark (P-168) failed to make an appearance at any I attended.
Collecting the note issues resulting from hyperinflation has long been extremely popular. The late Ruth Hill, one of the co-founders of the IBNS, had examplesof severalhigh-graderaritiesin her collection.
For anyone collecting, or even considering collecting, hyperinflation notes a recent, easy to read and comprehensive, account is available on-line: Steve H. Hanke & Nicholas Krus, 2012, “World Hyperinflations”. Cato Working Paper no. 8, in Randall Parker & Robert Whaples (eds.), 2013, The Handbook of Major Events in Economic History, London, Routledge Publishing. A summary of the main findings of this excellent and essential reference is given here.
Hanke & Krus Table
Hanke & Krus tabulate the 56 episodes of hyperinflation of which they were aware as of 2012. These include several which had previously gone unreported.
Their summary table is a first in that it has been compiled in a systematic and uniform way. Importantly, their results are replicable.
They provide start and end dates of
