Hi, I have a hundert thousand Kronen note in my coin connection. I would like to know the value of it?

Hi, I have a hundert thousand Kronen note of the number 1028 in my coin connection. I would like to know the value of the same if any for a collector?

1 Answer

Relevance
  • 1 decade ago
    Favorite Answer

    This note as issued by the Oesterreichisch-Ungarische Bank (Austrai-Hungary), which was the central bank for Austria, Hungary and other of the central European states that were part of the Austria-Hungary Empire prior to World War I. After the war, the bank continued to issue notes, but other banks sprung up for their countries created out of the resolution of the war. By 1920, the bank was responsible only for the currency of Austria.

    The early 1920s were a turbulent time in Europe. You've probably heard stories of the Weimar Republic in Germany, where inflation got so bad that people had literally wheelbarrows of cash for simple purchases.

    The same thing happened with this currency. In Januray 1922, the bank issued paper notes from 1 knronen up to 100,000 kronen. By September, so much money had been printed and pumped into the economy that inflation soon grew out of control. A second issue of 100K notes was issued, and 500K as well. Many people stopped trusting the currency, those that did spent it as soon as they got it, because a loaf of bread that cost 110K in the morning might cost 50K more that same afternoon. The economy collapsed.

    As a result, there was so much of this money printed that a lot of it survives today. They aren't that hard to find. Those in mint condition are worth more, but a note with typical folds, bent corners, etc, is worth only a few dollars.

Still have questions? Get your answers by asking now.