Remembering Polish hiperinflation

[Jaga]

I still remember how worthless Polish money became! Peole started earning millions of zlotys but.. their value on the black market was simply nothing!

I remember when billon of 2 zloty was getting smaller and smaller... since its value was also lowered and lowered! For years, you had bigger and smaller coins - depending on their production year.

See here some Polish banknotes with the value up to 5 mln zlotys! Does the same thing awaits us in the US?

pl.wikipedia.org/wiki/Banknoty_polskie_przed_denominacj%C4%85_1995

[Jaga]

In 1989 the hiperinflation reached 550%.

[hollister]

Ha!
One time a fellow tried to pass one of those notes off to us on the train - he wasn't too happy when we refused his "offer!"

[Jaga]

Holly, I like your new picture! You mean that he was cheating on you with old Polish zlotys?

[Jaga]

Here are Polish coins, but I wish we could see a difference in the size through the years:

www.katalogmonet.pl/katalog_polskich_monet/1431.html

[hollister]

admin said:

Holly, I like your new picture! You mean that he was cheating on you with old Polish zlotys?

He sure was! He thought he had a couple of rubes - this was on the late train from Zakopane to Warsaw. There had been some "excitement" at the train station and so we almost missed the train. I think he thought we were easy marks. We weren't. But he was impressed with his 5,000 zloty note and wanted to give us a deal on an exchange. When he offered to fight Wayne I just about lost it. The guy would not have won. The conductors kept out of the discussion but the Police meet us at the station and "ghosted" us home to the hotel.
The funny thing - I never felt frightened or scared (well maybe a little). It was just some stupid guys. Being dumb. Picking on the wrong people.

[Pawian]

I was a uni student then, but I don`t remember having any problems with inflation. I had dollars from my mother in the USA. When I needed, I sold some amount in the black market and lived on it until it gave out. Then another and another and so on.

What wonderful times! In 80s I could sell 400 (four hundred) dollars in the black market and live on it for 1 (one) year, maintaining myself, our flat, our car, my studies, my books, my holidays and my girlfriend too hahahahahaha.

PS. And our dog too!

[Jaga]

Pawian,

do you have any old coins so that we could see how its value and size was diminishing?

yes, I understand that the life for people who had hard currency was better. Still, going abroad was a challenge. Spending one dollar for a drink seemed to me impossible. Even if you had a hard currency it was difficult to buy everything you needed since the stores were empty and Pewex was selling only selected products.

[Pawian]

admin said:

Pawian,

do you have any old coins so that we could see how its value and size was diminishing?

I have some coins like old communist 1 zloty coin and others too. But how can I show them to you and how will you be able see the diminishing value in coins? It is better to show banknotes...

hey, what about finding it on the Net?? I will try...

yes, I understand that the life for people who had hard currency was better.

As I said, 400 dollars, the sum of money earned in about 1 week in the USA, provided me with a decent life style for a year in Poland, without extravaganzas, though.

Still, going abroad was a challenge.

Poles never had any problems with facing the risk. Neither in the past nor today. We are adventurous people hahahahahahaha

Even if you had a hard currency it was difficult to buy everything you needed since the stores were empty and Pewex was selling only selected products.

Yes, the problem was not only with more varied food but also basic household goods.

I was young and naive then. I stood in queues like other citizens.

But, if I was smarter, I would spend some of this American money on bribes. hahahahahaha It would cost me additional 50 dollars per year but I wouldn`t have to stand in queues, shop assistants would bring me everything to my doorstep hahahahahaha

[Pawian]

OK, as you wished, the history of Polish inflation!!!

through 70s
I remember when in early 70s, I could be about 5, I cut 50 zlotys note into stripes with scissors. There was a big halo about it, it was a lot of money then. A bus ride fare or a newspaper cost 1 zloty, and a call from a public phone too (time unlimited).


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Late 70s, early 80s.








In early 80s the cost of stamping coins became bigger than the nominal worth of a coin that`s why these banknotes appeared as a cheaper solution:







Late 80s, early 90s











5 million zlotys with J. Piłsudski, never used.

[Pawian]

Now, guess, who were Poles whose countenances can be seen on notes?

[Pawian]

pawian said:

Now, guess, who were Poles whose countenances can be seen on notes?

The communist state had its extravaganzas and independent ideas from time to time too:

On the reverse side there is Bolesław Chrobry, the king who waged a successful war against Kiev Rus, the territory considered by contemporary Russians as the land of their origin.


Józef Bem, the Polish general who led Hungarian troops during the Revolution in Hungary in 1848, successfully against Austrians, then lost when Russians intervened.


Romuald Traugutt, the leader of the January Uprising against Russians under partitions in 1863, captured and executed.

[Jaga]

Pawian,

great collection! I is a pity to realize that some of these people so important for Polish culture... were losing the value.

Fortunately, the first 100 zloty coin was Warynski - the guy who is gone from the Polish history books

[Pawian]

admin said:

Fortunately, the first 100 zloty coin was Warynski - the guy who is gone from the Polish history books

Hmm, is he? I thought he didn`t disappear. He was some revolutionary. I think he is still there, only the commentary changed.

I must ask my History colleague.