Zambia redenominated its currency in January 2013, replacing the old kwacha at a ratio of 1,000:1 — meaning this 50 Kwacha coin is equivalent in face value to the old 50,000 Kwacha note. The redenomination was driven by decades of inflation that had rendered low-denomination coins entirely pointless; by 2012, the smallest circulating note was worth a fraction of a US cent.
KM#356 was struck the following year as part of the first substantive bimetallic issue under the new currency structure.
Zambia redenominated its currency in January 2013, replacing the old kwacha at a ratio of 1,000:1 — meaning this 50 Kwacha coin is equivalent in face value to the old 50,000 Kwacha note. The redenomination was driven by decades of inflation that had rendered low-denomination coins entirely pointless; by 2012, the smallest circulating note was worth a fraction of a US cent.
KM#356 was struck the following year as part of the first substantive bimetallic issue under the new currency structure.