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Poland issues new high denomination

Categories : Cash is a public good, Cash is also a store of value, Cash is trust
April 10, 2017
Tags : Banknote/Note, Denomination mix, Europe, Store of value
Unlike many countries that have recently decided to demonitise high denominations notes, Poland has recently issued its highest denomination: the 500 zloty.
Communication Team / Equipo de Comunicación

Although a number of central banks, including the ECB, have recently removed their highest denomination banknote from circulation, the central bank of Poland has decided to go the opposite way and issue a brand new 500 zloty banknote on February 10, 2017.

This new highest denomination worth $125 is the last banknote of the “Rulers of Poland” series released between 2015 and February 2016. To justify its decision, the central bank stated that the new note responds to public demand and will help maintain the bank’s reserves. 

The front of the note features King John II Sobieski as well as a Polish artillery helmet whose colour shifts from green to blue when the note is tilted. Poland’s coat of arms appears in the back of the banknote along with the famous Wilanów Palace of Warsaw. The 500 zloty incorporates a wide range of sophisticated security features including for example a micro-optic security thread, a see-through window and iridescent inks. The whole series was designed by Andrzej Heidrich and printed by Polish Security Printing Works (PWPW).

For further information on the 500 zloty, please view the central bank’s educational material dedicated to the new banknote.

To read the original article [paywall], please click here