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The World's Only $7 Banknote - Why Is It So Rare?
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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.
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?
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
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.
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.
"I said something nice, not expensive!"
Ahhh.. the perfect note to buy something nice, not expensive..
Its the perfect amount to buy something nice but not expensive
Yes, such as a $7 souvenir-banknote.
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.
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
Ah, It's the perfect amount to buy something nice, but not expensive!
That banknote could get you something nice, but not expensive
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
$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.
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
DarkviperAU sent me here. Here's a hi from his community - "hi"
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
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.
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 😊.
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.
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.
Soviets used both 3R and 3k notes and coins respectively. Also they didn't have 20R but 25R note for some reason.
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 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. th-cam.com/video/z-0E0bOADXk/w-d-xo.html
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.
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!
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.
i love that "7 : 30" is listed as one of the cool things for 7.
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.
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.
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)
DarkViperAU just bought a note just for this
Just came across your channel Julian. Quite enjoyable. Subscribed.
Thanks and welcome, Mark!
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.
At least you can buy something nice with this bill
But not expensive
You nearly lost me at the Harry Potter reference
Wizards and their money. Strange choices.
This is awesome. Keep up the good work mate.
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 😂😂😂😂😂
In Indonesia, there was also a 75000 bank note, to celebrate the 75th independence of Indonesia in 2020.
"I said something nice, not expensive"-A legend, 9 years ago.
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
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!
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)
Ben Ryan... Like a lion... Ben Ryan! 😂I love the reference
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.
I'm liking all of your videos in hopes that it'll help your channel grow quicker!
Balloon Wrangler is the best name for a job
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.
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).
"Here, darlin', why don't youu go get yoourself something niice, okay?"
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 ;)
Ahh what a wonderful way to spend 5 minutes when i need to wake up in like 6 hours...
It's funny how some english speakers seems to think dollar is a synonym for currency
Interesting vid, nice work!
Glad you enjoyed it
The Royal Canadian Mint is obsessed with commemorative currency but only with the quarters. We have dozens of different quarters in circulation
I said get yourself 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)
according to another TH-cam channel people have been arrested for spending real bank notes because some of them are obscure.
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
Free the Balloons... Balloon rights today 🎈🎈
"This is 7 dollars... I said something nice, not expensive"
Something nice but not expensive
DorkViperAU bring me here
Cool video. I like it.
That's an awesome story, thanks for sharing
Glad you enjoyed it
Great video.
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)
Im glad matto got this so he can buy something nice but not expensive
Hmmm I wonder if I can buy something nice but not expensive with this bill 🤔
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.
I'm feeling like getting myself something nice, not expensive
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.
Ah, a man of culture I see, representing the great sport of the 43 Man Squamish!
a 1-3-6 system would work just as well..
02 : +1 coin to use
03 : -1 coin to use
05 : +2 coins to use
06 : -1 coin to use
09 : -1 coin to use
averages out on the same efficiency..
This man is the Austrailian Tom Scott but in his own way. Keep up the vids😊
to buy something nice, not expensive
7 dollar note is essential. When you buy a soda of 1 dollar and give the seller a 15 dollar note, he can conveniently give you two 7 dollar notes.
In countries that use a 1/2/5/10/25 coins instead of 1/2/5/10/20/50, it is possible to have $1.19 and not be able to give someone change for a $1 note
I don't know of any that have a 25 without a 50
@@A.Martin the problem still holds whether or not a 50c piece exists.. you just have none of them at the time
That thing must be quite valuable to collectors.
indonesia now has a limited edition 75,000 note, nobody uses them and I've only ever seen one but its still pretty cool
In Poland, we had special 19 PLN banknote. It was for some national holiday. It's one of the most obscure thing in our country, even if it happened in 2019
I have never saw it.
I'm still waiting for somebody to give me it for change, but I'm guessing that it has to much value for it to become posibble, but who knows?
Great video. Glad I know about the $7note and the balloon wrangler.
Remember to buy something nice, not expensive.
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, ...
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
the perfect banknote to buy something nice, not expensive
Trevor Philips would aprove of this banknote
‘….Part cash that I can take back the next time I go to the country.’
Good one! That’s hilarious! 😂
Brit here. When I was little I found a sixpence on the ground. I wish i held on to it.
About fifty years ago we had two and a half buxks coins here in my country
if you have $14 million you can collect all of these notes and then sell one for millions and than deposit the $7 notes and get your $14 million back.
The netherlands used to have 25 cents, but when the Euro was introduced we now obviously have 20 eurocents instead.
0:16 I spent a couple seconds trying to figure out where the "7" was in the bicycle picture
This can buy something nice, not something expensive.