War has many casualties and when sitting governments are toppled, one of the victims is often a nation’s currency. It can disappear along with the country (the Confederate States of America, for example), or it can undergo wild fluctuations and revaluation while maintaining its original form. One such story is that of the Afghani, the official currency of Afghanistan.
9-Gram Silver Coin Afghani Introduced in 1925
When Afghanistan declared its independence from Britain after the First World War, it needed a national currency. Introduced in 1925 as a 9-gram silver coin, the afghani was born and was pegged to the Indian rupee’s silver content at the time.
Value Fluctuations with No Central Bank
With no central bank to rely on, the afghani’s value fluctuated between that offered through the country’s largest private bank, Bank-e-Millie Afghan,established in 1933, and unofficial currency transactions in the country’s countless bazaars.Bank-e-Millie was generally credited with introducing a banking system to Afghanistan. A central bank for the nation was established in 1939 as Da Afghanistan Bank, and Bank-e-Millie was fully nationalized in 1976.
Instability Leads to Hyperinflation, Counterfeiting and a New Afghani
With tribal rivalries rampant, the Soviet invasion of the country in 1979, the emergence of the Taliban and mujahedeen, and the U.S. invasion in 2001, the afghani fell victim to hyperinflation, dropping to 43,000 to one U.S. dollar. Larger and larger denominations were printed by the central bank, culminating in the 10,000 afghani note, an amount that might be a typical citizen’s daily earnings.
Prior to U.S. involvement, warlords had begun counterfeiting afghanis in mass, leading to the historic currency ultimately being declared worthless. A new afghani was introduced in late 2002 at a rate of 43 to the dollar and local business was required to be transacted in the new currency. It was quickly adopted and has done surprisingly well in exchange since its inception.
10,000 Afghani Banknote Becomes a Historical Collectible
The 10,000 afghani banknote is a historical relic that has become a collector’s item. It has a picture of a mosque on its front and an ornate stone gateway with the inscription “Da Afghanistan Bank” on the reverse. Its color scheme features pale pink and various shades of blue over a colorful green base, reminiscent in many ways of U.S. currency.
We’re pleased to offer crisp, uncirculated 10,000 1993 afghani notes, either individually or in bulk lots. These notes have become quite popular with collectors recently and supplies are dwindling rapidly. Act today to add these historical relics to your currency collection while they’re still available! Call us at 855-644-2242 to learn more.
