Steem Bounty - What Is The Best Way To Buy Inflation Money Notes In Bulk (e.g. Venezuelan Bolivar, Zimbabwean Dollar)?
For a project I am looking to buy bank notes of 'inflation money' in bulk (at least 100+), like the Venezuelan Bolivar or the Zimbabwean Dollar. Preferably the smallest value notes that are still valid.
I've been browsing around in the online world but I haven't found the right place to buy yet. The challenges are the quantity which is usually too low or the shipping costs are too high. Shipping to The Netherlands that is.
Anyone here knows where I can buy these bank notes in bulk?
There is a small bounty on this post (see the comment section) for the best answers/thoughts in the comments :-)
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Thanks in advance!
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If what you want is to buy local currencies the obvious answer is create an account in the bank of those nations so you can buy all the "inflation money" you want.
But i assume that you already tought about it and that is not an easy option for you, so the main problem with this local currencies is the control of the goberment over the exchange market, making really hard for a person in other countries to get them, and for people in those countries to exchange that money for other currencies.
I can give you an advice on Venezuelan Bolivar and it's that the Central Bank is going to make a "monetary reconversion" taking 3 ceros away from the currency.
So i don't recomend you to buy (at least physical Venezuelan Bolivars), untill they release the new bills.
Greetings.
Thanks for the advice! When are they planning on doing that?
From May 1st untill July 4th.
Here's more information, from Washington Post
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to obtain these types of financial instruments you will need to contact the venezuean bank directly. aside from that you can search the for ex community for a broker.
the best bet ins a restricted country like Venezuela is to go there and make some banking connections. they will be glad to sell you massive amounts of bolivar. From what i hear they will be eager to exchange it or crypto.
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Friend I am Venezuelan, in the same venezuela it is difficult for us to obtain cash (physical money), because our currency is already used as paper money to transfer it to Colombia and do other things with that paper. We as inhabitants to obtain physical money we have to buy resellers by a margin of 185% more, that is, if I need 100,000 bs then I have to pay 285,000 for an electronic transfer to obtain the desired 100,000 bs, I advise you to find someone who is In Cucuta or Maicao, they are the first Colombian cities on the border and that is where most of that money is.
That is some great insight @jmhg85! It is going to be difficult to contact someone there for me from here. Any tips on how I could do that? And is it true that the 500 bolivar note is currently the smallest?
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I am not sure about Netherlands but over here in India we can get them at your local exchange (cash only transaction)
The second option is eBay and Amazon.
The third option is Facebook Group Pages of Zimbabwe - Local people sell them, but they are not trustworthy.
I haven't found a local exchange here for those currencies, probably because they are inflating so rapidly.
eBay seems to be the best option so far.
Sure buddy I am sure you will get the best possible solution for your need!
Cheers mate!
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Buy some Venezuela's dollar 😀 it will help in future
@cryptotem, I think one of the problems you are going to run into with "buying direct" is that in these dodgy economies it's often illegal to take any significant amount of money OUT of the country. Which means you're relying on a seller who's not necessarily very law abiding.
As a long-time "paper collectibles" trader (20 years) really your best best as far as the price/availability equation goes is going to be eBay. There are often hundreds of thousands of listings here-- you just have to find the sellers who are selling wholesale/bulk. I don't know what you specifically want, but something along these lines, perhaps?
https://www.ebay.com/itm/202055894682
That is a good point. I can't find anything on what a 'significant amount' of notes/money might be in their eyes though.
Thanks for the link, I am indeed looking for something like that :-)
Allright, just to follow up-- try this guy; he's one of the major currency dealers on eBay. The link will bring up his stock of "bricks" (10x bundles of 100) currently for sale:
http://stores.ebay.com/banknoteworld/1-000-Pieces-Brick-/_i.html?_fsub=12508185018
Thanks! This guy has a lot indeed!
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Uh... well, just so happens that family of mine visits Zimbabwe pretty often. I don't think you can actually get it in bulk anywhere here though. The money doesn't leave the country, I'm not sure it's even allowed.
I haven't asked but I expect that if you try to board a plane with luggage full of zimbabwean dollars, they may force you to exchange it? I've seen people with a bill or two, but not an entire stack or anything similar.
Curious though, what do you need it for? Want to swim in money? :)
Hahahah, that would be cool though! But no, I want to use it as a conversation starter about crypto and the need for decentralized money :-)
I might indeed be the case that they would not allow the money to leave the country in bulk. I've managed to buy a few notes on Marktplaats, but that is it. Couldn't find bulk.
Do you happen to know how expensive shipping gets from Zimbabwe? From experience I know that for instance from South-East Asia it is pretty cheap, don't know about Zimbabwe.
I am not 100% certain but I believe shipping to/from Zimbabwe is expensive. The people I know who travel there once complained to me about how they sent some brochures there (or received from there) and they had to pay 30-40$ in shipping or so.
There's not a lot of freight between there and here, like with S-E Asia, so they pretty much have to make the way down specifically for that one package (almost, anyway) which makes it expensive
if you want to make a point about money and devaluation you should look if you can see if you can find some old german marks or polish zlotys. Otherwise it's easy to disregard inflation as something that happens far away, in crappy countries. And I'm sure there's some german bills floating around in the netherlands
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When do you need it by? I know somebody coming from Venezuela in the beginning of June. They could probably post a sufficient quantity from Europe (even Netherlands). Got me interested too. Zimbabwean notes dollars are selling for quite a profit on Ebay.
I suppose you are looking for a high quantity of nearly worthless notes? Do you know which ones that would be from Venezuela? Let me know and I can inquire further.
Interesting! Well, the project will be an ongoing thing to make people aware of the need for decentralized money as a conversation starter. June would be fine actually.
Indeed I would be looking for the smallest notes, currently that is the 500 or 1000 bolivares as far as I can tell (https://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar). I would need at least 100, preferrably more. It depends a bit on the price and shipping costs. Do you know what the shipping costs are from Venezuela to here?
I've sent the request. We'll see :-)
Apparently it is hard just to get bills, and if you are caught taking them out you could be harrassed or accused of smugling, so I am not very hopeful that I'll get my hands of many, but we'll see. Haven't had a definitive response.
I am in Africa and could arrange the Zimbabwean currency exchange. The shipping will be quite expensive though
What do you estimate as shipping costs to The Netherlands?
Perhaps they can even send from Venezuela.
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Oh man I wish I knew the answer or was able to help you out! Is this kinda like scooping up thousands of unknown crypto coins and token in case they explode back into value?
I don't see a lot of this type of currency but you have me curious so I will search it out and let you know what I find.
Cool, let me know!
Well, it actually is a tool for telling people about at least one very important use case of cryptocurrencies, which is a store of value in countries that experience high inflation rates. Sort of a conversation starter :-)
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i thing ebay is your best option.
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