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50 000 Kwacha Bank of Zambia 40th Anniversary
| Issuer | Bank of Zambia |
|---|---|
| Year | 2004 |
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| Shape | Round |
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| Obverse description | The central field displays the coat of arms of Zambia, featuring a shield supported by a man in traditional dress to the left and a woman to the right, with an African fish eagle displayed above the shield and a scroll at the base bearing the national motto ONE ZAMBIA ONE NATION. The denomination 50,000 appears vertically along the left rim and KWACHA vertically along the right rim, both in raised lettering. The country name ZAMBIA arcs across the upper field and the date 2004 appears in the lower field. The design is struck in proof quality with frosted relief devices against a mirror-polished field, and is bordered by a continuous beaded inner rim. |
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| Reverse script | Latin |
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| Additional information |
The Bank of Zambia was established in 1964 coinciding with independence from Britain, making this 2004 issue a commemoration of four decades of central banking under what had been, for much of that period, a single-party state. Zambia's monetary history across those forty years was turbulent: the kwacha, introduced in 1968 to replace the Zambian pound, was subjected to repeated devaluations tied to the collapse of copper revenues, copper having once accounted for over 90% of the country's export earnings.
By 2004, the kwacha had depreciated so severely that a face value of 50,000 on a commemorative silver piece was functionally modest.