HAITI, 2 gourdes, Law 1979, tyvek


HAITI, 2 gourdes, Law 1979, Face: Papa Doc L, Back: arms, tyvek, ABNC printer, P231Aa, AU-Unc

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The tyvek versions of these Haitian banknotes were the subject of intense collector interest for a number of years.

Haiti was born out of a slave rebellion. The peace treaty included reparations to reimburse the former slave owners, that continued into the 20th century and retarded Haiti’s progress for more than 100 years. The paper money started in the early years of the 19th century, the styles somewhat resembling the assignats of revolutionary France.

Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.

Paper money, meaning the promise of a government to pay a set amount, and the paper promise allowed to circulate at will, was probably first used in China in the 12th century AD. At that time the merchants and governments of Europe were just writing letters to each other about what they owed.