Yugoslavia banknote - 5 novih dinara - year 1994

Description: The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia (formerly the Kingdom of Serbs, Croats and Slovenes), the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para (Cyrillic script: пара). In the early 1990s, there was severe and prolonged hyperinflation due to a combination of economic mismanagement and criminality. Massive amounts of money were printed; coins became redundant; inflation rates reached the equivalent of 8.51×1029% per year. The highest denomination banknote was 500 billion dinars; it was worthless two weeks after it was printed.[1] This hyperinflation caused five revaluations between 1990 and 1994; in total there were eight distinct dinari. Six of the eight have been given distinguishing names and separate ISO 4217 codes. When the United Nations imposed sanctions on Yugoslavia in 1992, the country quickly collapsed into hyperinflation. Prices increased 17,200% in 1992, and an incredible 3 quadrillion percent in 1993. Inflation was 1788% in December 1993 and 4139% in January 1994, though one wonders how the government arrived at such exact figures. The hyperinflation finally ended in March 1994, and by 1995, the annual inflation rate was a more “normal” 122%. Yugoslavia re-denominated the dinar for the fourth time on 1 October 1993, at a ratio of 1 million to 1. This did not mitigate the hyperinflation, and the 1993 dinar (ISO 4217 code: YUO) lasted for only three months. Coinage became redundant. The 1993 dinar had the largest denomination out of all incarnations of Yugoslavian currency: the banknote, featuring Jovan Jovanović Zmaj had a face value of 500 billion (5×1011) dinara (right). Wages became worthless; if paid in cash, workers had to rush out and spend their wages before they lost their value overnight. Many businesses started to pay wages in goods instead, and a simple barter system developed. Businesses with good connections to politicians could still get access to hard currency. Some shops, instead of rewriting their prices several times a day, started pricing goods in "bods" (points), often equivalent to hard currency such as one Deutschmark. The winter of 1993 was particularly hard for pensioners; if a monthly pension was spent immediately, it was still barely enough to buy three litres of milk. Many people relied on connections to friends and family abroad (who could provide hard currency) or in the countryside (who could grow food). Yugoslavia re-denominated the dinar for the fifth time on 1 January 1994, at a ratio of 1 billion (109) to 1. The 1994 dinar was the shortest-lived out of all incarnations of Yugoslavian currency, as hyperinflation continued to intensify, and only one coin (1 dinar) was issued for it. Towards the end of the 1994 dinar, the National Bank overprinted and reissued 10 million dinara banknotes from the 1992 dinar. In January, 1994, notes were issued for 10, 100, 1000, 5000, 50,000, 100,000, 500,000 and 10 million dinara. Because the inflation, they circulated just for a few weeks before the currency was abandoned in favour of the novi dinar. 10 and 100 dinar notes were characteristic for lack of serial number on them Nikola Tesla (Serbian Cyrillic: Никола Тесла; 10 July 1856 – 7 January 1943) was a Serbian American inventor, electrical engineer, mechanical engineer, physicist, and futurist best known for his contributions to the design of the modern alternating current (AC) electricity supply system. Tesla gained experience in telephony and electrical engineering before emigrating to the United States in 1884 to work for Thomas Edison in New York City. He soon struck out on his own with financial backers, setting up laboratories and companies to develop a range of electrical devices. His patented AC induction motor and transformer were licensed by George Westinghouse, who also hired Tesla for a short time as a consultant. His work in the formative years of electric power development was involved in a corporate alternating current/direct current "War of Currents" as well as various patent battles. Tesla went on to pursue his ideas of wireless lighting and electricity distribution in his high-voltage, high-frequency power experiments in New York and Colorado Springs, and made early (1893) pronouncements on the possibility of wireless communication with his devices. He tried to put these ideas to practical use in his ill-fated attempt at intercontinental wireless transmission, which was his unfinished Wardenclyffe Tower project. In his lab he also conducted a range of experiments with mechanical oscillators/generators, electrical discharge tubes, and early X-ray imaging. He also built a wireless controlled boat, one of the first ever exhibited. Tesla was renowned for his achievements and showmanship, eventually earning him a reputation in popular culture as an archetypal "mad scientist". His patents earned him a considerable amount of money, much of which was used to finance his own projects with varying degrees of success. He lived most of his life in a series of New York hotels, through his retirement. He died on 7 January 1943. His work fell into relative obscurity after his death, but in 1960 the General Conference on Weights and Measures named the SI unit of magnetic flux density the tesla in his honor. There has been a resurgence in interest in Tesla in popular culture since the 1990s.

Price: 18 USD

Location: Nis

End Time: 2023-12-12T12:37:44.000Z

Shipping Cost: 0 USD