The World's Only $7 Banknote - Why Is It So Rare?
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- čas přidán 5. 08. 2024
- There is only a single country in the world that uses a $7 banknote. There's a mathematical reason for why we don't see more unusual sized notes and coins that goes back to a French balloon engineer, and how it took an Olympic gold medal to change this system.
Also - the reason for why we need an 18 cent coin.
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If you were thinking of a coin or note that doesn't start with 1, 2, 5 - let me know in the comments. There's not many of them out there...
I'm Julian O'Shea and this is an emerging CZcams channel exploring interesting topics, so follow along, and I'll catch you next video.
The perfect note to buy something nice, not expensive
You men are all the same!
@@tippiebekfast ?
@@tippiebekfast we are all unique :)
@@domomini its a reference to the thing he was referencing, i wasnt actually saying that im also a man
A DarkViperAU reference at the top of the comment section?
Might be the only time anyone has ever said "Well done, Venezuela" regarding currency.
This is an excellent comment.
@@JulianOShea Why would you? theres no point! as you explain in the first 30 seconds!
Its not because we have 10 fingers, its because decimal is the best system!
@@danquaylesitsspeltpotatoe8307 if you want to divide numbers up better, then 12 is the best because it can be divisible by 2 3 4 and 6 as opposed to just 2 and 5 like decimal.
As for a currency that uses base 12(I will use 10 = a and 11 = b 12 = 10) you could have 1 3 and 6 and 10 (which = 12) then continue on with 30 cents and 60 cents and then a dollar or 120 cents (120 cents btw is 144 in decimal) it sounds confusing which to people used to decimal it is, but if you are used to base 12 it will be just as easy.
@@A.Martin "if you want to divide numbers up better, then 12 is the best because it can be divisible by 2 3 4 and 6 as opposed to just 2 and 5 like decimal.""
Then 20 is better! Oh wait that decimal!
@@danquaylesitsspeltpotatoe8307 20 isn't better than 12. It's divisible the same number of ways, because it has the same number of factors. Arguably, 12 is better because it's just as divisible as 20, but smaller.
"I said something nice, not expensive!"
When we had tram conductors - they didn’t use the greedy algorithm. They used “i must make my cash bag lighter” algorithm. If you cashed a note, a short tram trip could reward you you with a fist full of silver and copper.
This is a logical way to give change tho if one is workin in a place where the vast majority of transactions will be small note/coin transactions (esp if said person keeps a low till amount for safety/security reasoms)
Bcuz not doin such means the tram operator ends up runnin out of the bigger bills sooner and having a bunch of $2 and under value bills/coins as the only option to give change with.
@@SylviaRustyFae But if you try to dispose of small change as much as possible, you run into an opposite problem. Someone gives you a note, you don't have change to give them.
@@NickJerrison Its not hard to switch based on what notes/coins youre getting tho. Just generally spkin, make the till lighter is the chosen algorithm bcuz of the fact that almost no one is comin thru with large notes askin for a bunch of 1s and 2s in change. And we can also just not give them that change and give them higher value notes instd.
And obvs you arent gonna get your till empty of coins and will just swap algorithms if you have a low amount of coins.
Chances are they have plenty of higher value notes to make change, it just may be two 50s instd of the 5s they so desperately want.
Ahhh.. the perfect note to buy something nice, not expensive..
There was actually a $7 and $3 banknote in Australia, produced experimentally by the CSIRO when they were developing the polymer technology
Now I gotta hunt that down
Australia had a limited 25 cent coin
it isn't really a weird or unique number but I have an Australian $5 commemorative coin. I've been keeping it but I wonder if people would get confused if I tried to buy something with it
sauce?
@@theorangeoof926 america be like
You didn’t count the best currency in the world Minecraft
9 diamonds = 1 diamond block
You got me.
good catch
1 Large Chest = 2 Small Chests = 2 Inventories = 54 Stacks (6 rows of 9)
1 Stack = 64 Blocks
1 Block = 9 Ingots
1 Ingot = 9 Nuggets
A stack having 64 items messes up the system of 1 -> 9. Crafting something that needs 9x the same item leaves 1 single item from each stack and creates 7 new items, so to get full stacks again you need to, for example, process 9 stacks of nuggets into 63 bars into 7 blocks, and then have the same problem. Stacks should have a size of 81.
Its the perfect amount to buy something nice but not expensive
Yes, such as a $7 souvenir-banknote.
That banknote could get you something nice, but not expensive
Ah, It's the perfect amount to buy something nice, but not expensive!
I have a collection of 1 of every note in the world. I have a Cook Islands $3..
Don't lie
So you have a us 10,000
@@jjskip8564 No such note in circulation. Not even legal tender any more.
There is a $3 Cook Islands note. It is real, I don't know if it's still in circulation but it's legal tender
@@andrew7955 nah its not any legal tender. Apparently it's now just novelty. Other cook island currency is still in circulation
Great video. Hope you're not offended, but you not a geek. You are a super geek. Cannot believe how you can take an unusual or seemingly boring subject and turn it into a fascinating 5 or 10 minute video. Cannot believe how much information you compress into the video, and keep it understandable to a layperson. Keep up the wonderful work.
Thanks, Adrian - appreciate it.
The Bahamas has $3.00 note and a .15 cent coin. These are holdover amounts from the days when we were a British colony and helped the English convert their currency to Bahamian Dollars. Your Fijian Rugby money is not alone! The Bahamas also has a .50 cent note.
Great addition! Thanks for sharing.
The Cook Islands have a $3 coin and a $3note.
Shayne - Australia.
Careful with your decimal points there. "0.15 cents" would mean you need 100 of them to get to 15 cents and 10000 of them to get to $15.
@@lztx whoops, thanks!
why do you have so many accounts with the same picture?
Me, looking at this being in Fiji rn who found the $7 note last month haha.
Yes. It's rare around the world but not here
Nice - Fiji is great, look forward to going back soon!
Cook islands had a $3 note
Before the euro was introduced, the Netherlands had a slightly different system with the gulden, there was a ƒ0,25 and ƒ2,50 coin and banknotes of ƒ25,- and ƒ250,-
Yes, and I seem to remember that it was meant to reduce the amount of change one got.
As a matter of fact, before WWII there were also ƒ0,005 and ƒ0,025 coins, _halve cent_ and _halve stuiver_ respectively. Between 1818 and 1832 there also was a ƒ3 coin.
Hi.. I'm from Fiji... recently discovered your channel and love your videos... n thank you for making this video about Fiji $7 note... 🇫🇯🇫🇯🇫🇯
For much of the late 1800's and into the early 1900's Canada had quite widespread use of the 4$ banknote. This was a legacy of the conversion from pre-decimal currency, where in redefining the old pounds shillings and pence, 5 shillings were redefined as 1$ and thus old pound notes people were used to became 4$ notes. Even for a while after this switch over the Canadian government and Canadian banks (who in this era could still produce their own legal notes.) merchants and customers were used to prices being in multiples of 4$ so the note persisted. However by the time of the First World War, the 4$ note, one of the oddest notes in wide circulation had died off replaced by the 5$ on one side and the 2$ on the other.
Great knowledge - thanks for sharing
I'm quickly developing a theory that Julian is Tom Scott's long-lost Aussie brother.
Never thought I’d here currency and well done Venezuela in the same sentence
DarkviperAU sent me here. Here's a hi from his community - "hi"
You are one of the best things I have found after coming here in Melbourne. Keep doing. I have learned lot new things about Melbourne from you. Thank you 😊.
This is awesome. Keep up the good work mate.
$7 note to celebrate rugby gold medal - hahahaha - too cool.
I'd love to see Fiji get their first ever win against the All Blacks . . .
. . . then they'd make a $15 note too.
Weirdest Canadian banknotes I can think of (though I’ve never seen either) would be the $25 bill (commemorating George V’s 25th anniversary on the throne) and the $4 bill (only made until 1935).
Also the not-unusual denomination but interesting fact that Canada had a $1000 bill but withdrew it at the request of the police because it was almost exclusively used by organized crime.
Soviets used both 3R and 3k notes and coins respectively. Also they didn't have 20R but 25R note for some reason.
This is definitely one of the most oddly interesting channels on the net
Cheers, Darryl!
@@JulianOShea no worries. Has that guy calling you a super geek. Geeks rule the world so I suppose it’s a compliment of sorts!!
Just a suggestion but if you could do something on peculiar sub cultures particular to Melbourne that would be good. Enjoy your videos
I see what you did there.
Venezuela one had a 12.5 cent coin, but due to hyperinflation, is not longer used. Also Cuba has a 3 peso note, and Netherlands Antilles has a 25 Gulden Note.
Why 1, 2 and 5? Because it's about squeezing decimal numbers into a binary system. The ideal currency would have binary notes - 1, 2, 4, 8, 16, 32,... to cover everything easily, but because most people don't do mental arithmetic too well with those numbers, it's slightly changes: 2 times 1 is 2. 2 times 2 is about 5. 5 times 2 is 10. And on it goes.
The ideal would be ternary (base 3) because it's the closest integral system to base e. This is called Bachet's Problem. The main reason for 1, 2 and 5 is that they are factors of 10.
Just came across your channel Julian. Quite enjoyable. Subscribed.
Thanks and welcome, Mark!
2:38 "Nothing (other than our Fiji $7) would fit right here" (in the non-1, 2, 5 pile). I've got several Cook Islands $3 notes from the 1990's that would like to disagree with you there. They were (and I believe still are) absolutely legal tender. They weren't commemorative of anything, but I think they were a bit of a revenue dodge - I think they banked on tourists taking them home as souvenirs, at which point they disappeared from circulation - profit for the treasury.
I'm liking all of your videos in hopes that it'll help your channel grow quicker!
Interesting vid, nice work!
Glad you enjoyed it
The money divisions in the Harry Potter world feel a great deal like weirdness for weirdness' sake. And I've wondered if the author ever regrets it. It would've made more sense them to have the same 12/20 system that England used before decimalisation.
Jk rowling hopefully regrets more than just that
Interestingly while the Knut to Sickle ratio seems entirely arbitrary, the Sickle to Galleon ratio makes some sense. This is because a 17:1 ratio for silver to gold is almost identical to the actual 16:1 silver to gold value standard that was a critical part of the world financial system of the late 1800's and early 20th centaury. So if the coins are actually made of silver and gold the ratio makes pretty good sense. I d agree however with the other comment that I don't think that is the main issue in Rowling legacy as an author.
I assumed it was because wizards liked prime numbers, or something like that.
Pretty sure it was indeed weirdness for weirdness sake. Combined with poking fun at the Lsd system.
@@JamesBond-xx1lv I don't know she seems to be doing pretty well
Great video. Glad I know about the $7note and the balloon wrangler.
Thanks Julian for another great video, I am also interested in banknotes maps and borders! Have you see any of Half Asleep Chris videos?
I have! Great content.
Cool video. I like it.
Great video.
i love that "7 : 30" is listed as one of the cool things for 7.
And we won the Tokyo Olympics Rugby Sevens too ( men’s and the women’s won bronze). I’ve got a couple of those notes from previous trips back home, in Brisbane now. Moved from Fiji 🇫🇯 to Melbourne in the early eighties and up here to Queensland twenty two years ago. Missed the beaches, palm trees and sun haha.
DarkViperAU just bought a note just for this
Here in Indonesia, we have a 75,000 Rupiah (AUD7.30) commemorative note. It was released last year in a limited supply of 75 million notes to celebrate 75 years of our country's independence. Although it's legal tender, you don't see it very often. Probably much like the Fijian $7 note. Great content, very informative!
At least you can buy something nice with this bill
But not expensive
I love that your first instinct was to google if the bill was real xD Thats the sorta thing i cud see someone in USA doin if they got a $2 bill (theyre not commonly circulated just cuz most tills dont have a dedicated spot for them; yet anyone can pick up tons of them from.their local bank by exchangin other bills for them, as theyre still being minted, just rarely used)
You nearly lost me at the Harry Potter reference
Wizards and their money. Strange choices.
You are making so many interesting videos I subscribed after the 2nd one. You mentioned near the end the largest bank note ever, I think I know that one, as I have one in a magnetic clip on my fridge, is it the 100 Trillion dollar note from Zimbabwe ?, I got it for a school project my son was doing as no one believed him.
very nice, i have a lot of these at home
"I said something nice, not expensive"-A legend, 9 years ago.
I proposed the 99c, and my argument was that it everywhere, I'm pro cancel round up (ok with round down) of course all of this can be bypassed if you pay digitally, but my stance remains
In the UK that was an actual policy proposial by the Monster Raving Looney party which was to start minting a 99p coin so that people won't get so much 1p change
Just do what Australia did, and remove everything under five cents. If it's 99 cents change, it will just be rounded up to 1 dollar change.
Then they will just make everything 98c. Forcing employees into using the register to give change reduces theft and is the primary reason for pricing things this way.
@@brendancskinner every single thing you just said was wrong. First of all, there are no 2 cent coins, as the lowest is 5 cents. Second, almost everything is 99 cents, as it looks cheaper, without much compromise on cost. Third, getting rid of one and two cent coins does not increase theft in the slightest. It doesn't matter if the employee gives change or not, they still have to open the cash register to put in the one dollar coin. Source: I am a cashier in Australia.
@@cameronsmall2166I was responding to the original comment. This video should help you understand what I'm talking about. czcams.com/video/z-0E0bOADXk/video.html
Ben Ryan... Like a lion... Ben Ryan! 😂I love the reference
Fiji 😊 Hopefully after their second gold medal from Tokyo, the government decides to make another note 😂
So, 14 fijian dollar note?
@@musab.k.9870 Hopefully 😂😂😂😂😂
Britain used to have a 2.5 pence coin. It was a legacy from when we increased the value of our penny by ×2.4 (in Australia & South Africa they increased it by 1.2 & halved the value of the pound); it was previously worth 6 pence.
I think decimalisation (or dollarisation) was a mistake: apart from being the base of our number system, 100 isn't a particularly good number. It can't be divided by 3, nor by 4. 240 divides by any number you could need to work with (except for 7; sorry).
I don't remember a 2.5p coin. I do remember the half (new) pence coin, which was around from decimalisation through to about the mid 80s.
In Indonesia, there was also a 75000 bank note, to celebrate the 75th independence of Indonesia in 2020.
That's an awesome story, thanks for sharing
Glad you enjoyed it
Cuba has a 3 Peso note, which exists in both the regular Cuban Peso and the Covertible Peso.
I believe it is a legacy from when Che Guevara was President of the Reserve Bank of Cuba.
Ah, a man of culture I see, representing the great sport of the 43 Man Squamish!
Balloon Wrangler is the best name for a job
Julian, I had to reach back to remember how many penny's in a pound. I am sure you have never experienced pound schillings and pence but the answer is 240. Which is a sort of magic nbr. It is divisible by a very large number of numbers. So back in the day if I had a pound note and bought something off you, then you could make change for a large number of different prices especially if you included hapennies, farthings, threepences, sixpences and schillings. It may not have been decimal but it was good when a pound was worth something!
Banknotes and coins with 3 were somewhat common in the past in the Eastern Bloc, with some hangovers to this day - China in the 50s had a 3 Yuan note (I have one), the breakaway region of Transnistria has a very cool 3 ruble plastic coin (as they are unrecognised they find it hard to get mints to mint their coins, hence the plastic) and Cuba has both a 3 peso coin and a 3 peso note (both with a picture of Che Guevara).
Im glad matto got this so he can buy something nice but not expensive
Most countries don't use the Dollar so saying that there were no 7 dollar notes or coins in the entire world doesn't make much sense. In the Netherlands they did have the halve Gouden Rijder 7 gulden coin until the 19th century. The gulden was the currency of the Netherlands
Pre-decimal we in the UK not only had 20 shillings/240 pence to the pound but also coinage based on duodecimal divisions so we had 3 pence and 6 pence coins alongside shilling (12d), florin aka two shilling (24d), half crown (30d) and the more obvious penny, halfpenny and farthing (quarter penny). Notes started from 10s (120d). Incidentally, the abbreviation for pence was 'd' pre-decimalisation standing for denarius, dating back to the Roman system 2000 years earlier. The UK currency was known as £sd (or LSD) standing for librum, solidus and denarius being divisions of a pound of silver although most of us simply called it 'pounds, shillings and pence'. On decimalisation the new coinage was differentiated by being marked as 'New Pence' (or 'New Penny) for example, 'Five New Pence' for the coin replacing the old shilling--previously worth 12d and the abbreviation changed from 'd' to 'p' leading to the common spoken practice of stating prices as 'pee', eg "It'll be fifteen 'pee' for that comic."
The currency change to decimal happened in 1971 moving to 100 pence to the pound (which stayed the same value). This had the advantage that the cupronickel 1 shilling piece was directly equivalent to 5 new pence and 2 shilling (florin) to 10 new pence and the new coins were minted to be the same size and weight to allow compatibility with vending and coin sorting machines. This meant only the lower value 'brass' coins had to be replaced. Due to public pressure the cupronickel 6d coin (popularly known as the 'tanner') worth 2.5 new pence was retained far longer than planned remaining tender until mid-1980, 9 years after decimalisation day.
The biggest issue at decimalisation was that prices could not exactly convert (since each 'new penny' was worth 2.4d). While 1s (12d) = 5p and so on for full shilling prices, pennies just didn't convert. 1d = 0.4167p had to be rounded up to a 'new half penny' and 2d to 1p--both effectively inflating the price. To prevent retailers being overly keen on the rounding process the Government issued standard conversion tables that had to be displayed and used in every shop. In order to prevent an overall inflationary effect, some values were rounded down and some up which lead to some oddities such as both 2d and 3d converting to 1p and 9d and 10d becoming 4p. Products were dual priced for some time before and after decimalisation. I remember stopping at the shop on the way to school to buy some sweets just to get some new coins in change.
Cook Islands has a $3 banknote, and it is the only Cook Islands dollar banknote that is still valid, all others have been replaced by New Zealand dollar.
If you can find one :) (Tourists souvenired them all, I think)
This man is the Austrailian Tom Scott but in his own way. Keep up the vids😊
It's funny how some english speakers seems to think dollar is a synonym for currency
That thing must be quite valuable to collectors.
Ahh what a wonderful way to spend 5 minutes when i need to wake up in like 6 hours...
DorkViperAU bring me here
Something nice but not expensive
I'm convinced that this guy is a wizard.
I want the Dutch Guilder back ;)
As coins:
1 cent (discontinued 1980), 5 ct, 10 ct, 25 ct
1 guilder (100 cents), 2,5 guilder (250 ct), 5 guilder (first as note, later as coin)
As notes:
10 guilder, 25 guilder, 50 guilder
100 guilder, 250 guilder, 1000 guilder
We were used counting in quarters. Just like the time goes in quarter hours ;)
according to another CZcams channel people have been arrested for spending real bank notes because some of them are obscure.
Keep going
Please, do a supplemental video where you sort out those notes into paper, polymer, and the US’ paper/cotton notes.
The Royal Canadian Mint is obsessed with commemorative currency but only with the quarters. We have dozens of different quarters in circulation
In the Netherlands before the EURO, they used a 1 - 2.5 - 5 system (as already mentioned by Jacques Van Bremen). Can you split the 2-banknotes in two separate piles: the 2.0 and the 2.5 kind? I'm curious to see how many countries use the 1 - 2.5 - 5 system.
IMO a bigger issue with odd denominations is counting them. With current denominations you can easilly combine the 1, 2 and 5 unit coins/notes into 10 unit piles. Then combine those piles with the 10, 20 and 50 unit coins/notes into 100 unit piles and so-on.
Free the Balloons... Balloon rights today 🎈🎈
"This is 7 dollars... I said something nice, not expensive"
"Here, darlin', why don't youu go get yoourself something niice, okay?"
I said get yourself something nice not expensive
Lol I was thinking of a $10 note and he insisted that it said 1,2 or 5
One thing I think is interesting is that coins in most countries follow 1, 2, 5 just like notes. But here in America (and Canada too), our coins are 1, 5, 10, 25. (So that the 25 is a quarter dollar). I'm not sure if there are any other currencies that have a 25.
I do think the way the rest of the world does it is better since in America (and Canada) there are 2 1/2 dimes per quarter. (It would be better if there were an even number of of one coin to make the next).
However my actual preference would be to just get rid of the dime so that the we would have 1, 5, 25. (I would do the same for notes too.) I don't think any countries do it this way, but it's very common in casino chips (at least in America).
(I just recently found your channel, it it's interesting stuff. Thanks for the content.)
Having quarter-unit denominations is common in the middle east.
You could make a vide with Rentenmark, ranging from 1 up to 500 billion and more. They basically had every number you wanted for you. I have 1,2,3,4,5,8,10,15,20,25,40,50,60,70,85,90,100 RM. And some weird like 235,445, ...
I'm feeling like getting myself something nice, not expensive
before the introduction of the Euro, the Netherlands had the "Rijksdaalder" which is a 2.5 'Gulden' coin. and prior to the decimalization we had instead the "daalder" which was 1,5 Gulden (30x5cents)
Hmmm I wonder if I can buy something nice but not expensive with this bill 🤔
to buy something nice, not expensive
My guess is you probably got the $7 note because they could tell you were a foreigner and wanted to get it out of their cash register lol. I remember working retail and having to submit bills to the vault with an electronic reader. Whenever anyone paid with a $2 bill or $1 coins I'd accept it, but know i have to get rid of it somehow because the vault doesn't accept them. So I'd be the awkward cashier asking if you wanted a $2 bill lol (USA)
indonesia now has a limited edition 75,000 note, nobody uses them and I've only ever seen one but its still pretty cool
Your enthusiastic presentation of what might be called antipodean trivia has me hooked. I would never have believed in a $7 banknote until your video.
Here in the UK, our currency before decimalisation was in order of value- Farthing, Halfpenny, Penny, Sixpence, Shilling, Florin (= 2 Shillings- a very early attempt to decimalise), Half Crown, Crown (= 5 Shillings), 10 Shilling note, Pound note and multiples of pounds thereafter, but also the stupidest thing of all, the Guinea (= 21 Shillings, only used by upper class twits to this day!).
One fault with our existing banknotes is that they are not "Bank of UK" but "Bank of England" which does not really unite the countries of the UK. I am sure that the inhabitants of Victoria would not be pleased if they had to use banknotes labelled "Bank of New South Wales" LOL
Pre-decimal Australia often had furniture advertised in Guineas. Scottish and Northern Ireland banks also issue their own currency.
@@peterwilliams2152 (2nd attempt at replying- computer problem!)
Didn't know about Australian furniture!
The UK situation is actually weird. Scottish & Irish bank (private companies) notes are routinely accepted in those countries, but not in England or Wales and are not even classed as "legal tender" under UK law (not even in Scotland and NI).
The only legal tender in the WHOLE UK is Royal Mint coinage. The BoE notes are also legal tender in England and Wales (not Scotland or Northern Ireland).
The above information is as published by the Bank of England. It is a ridiculous situation and I firmly believe that we should have one Central Reserve Bank as do most countries, like Australia
@@MervynPartin My parents remodelled our house before decimalisation in 1966.I grew up with both. Decades later I had a young girl from a previous co-jointed company saying that they needed to transfer XYZ money to us from a legal decision. She said it was in LSD. In other words Pounds, shillings and pence. I instantly converted it into decimal currency and she said "What was that?". Even her boss could not understand it, eventually the company owner was involved, and he said "Is that all, no problems."
As to legal tender, I know that they are not legal, but are exchangeable for legal tender in any UK bank or Post Office.
As to one Central Bank, I believe you need to blame Sir Walter Scott,
I have a 0 € (Euro) note, also a strange number banknote.
So what can you buy with a zero euro note? Although its probably still worth 150 shitsville pesos
@Phil Menzies it's more like a souvenir. But it is printed with the same security features and by the same print as the original euro notes.
@Julian O'Shea if you wanna have one. I live in the Melbourne area, happy to share one after Lockdown.
Yay! My parents are from fiji! 🇫🇯
I do have a 7 dollar one my uncle told me it’s very rare so keep it safe lol
that means you can buy something nice but not expensive wow
I got one. I was so happy
You mentioned that the 2 stack was only 2s, 20, 200s, and 2000s, so I'm surprised you didn't' encounter any 25s! As I assume you're aware in the US we have a .25 coin which it's cool to know is at least slightly weird, though it's hardly a $25 note, which would be even more interesting I imagine.
the perfect banknote to buy something nice, not expensive
Not mentioning E24 resistor value series on STEM channel? Why?
Interesting
it just so happens that i have 2 of those notes laying round
i knew the answer why even before clicking on this video
I am about the repeat something I got from Loyd, over at Lindybeige... But the pre-decimal £ was rather elegant by being 240b (pence) to the £, because 240 is what is known as a "highly divisible number"
Aside for the pence, all other coin names in British currency, was just names put on a specific denomination of pences... Bit like Dimes and nickles really