50000 Dollars Zimbabwe Dollar (Third)

Signatures: Governor: Dr. G Gono

Security features: watermark,microprint,intaglio

This 50,000-dollar bearer cheque was issued on 1st August 2006 during Zimbabwe's catastrophic hyperinflationary period (2004-2009), which ultimately peaked at an estimated 89.7 sextillion percent month-on-month inflation in November 2008. The note's designation as a 'Bearer Cheque' with an expiry date (31 July 2007) was an emergency measure to control the rapidly devaluing currency — the Reserve Bank issued these instruments with short validity periods to manage the crisis. Dr. Gideon Gono served as Governor of the Reserve Bank during this period (2003-2013) and authorized the printing of increasingly high denominations. This third Zimbabwe dollar (ZWD, 2006-2008) replaced the second dollar at 1:1000 in August 2006. It was itself replaced by the fourth dollar (ZWL) at 1:10,000,000,000 in August 2008. The currency was eventually abandoned entirely in April 2009 in favor of foreign currencies (primarily USD and South African Rand). These bearer cheques are now demonetized and have become collector items documenting one of history's worst cases of hyperinflation. While the printed denomination is 50,000 dollars, the back shows '1000 DOLLARS' alongside the cheque number, a discrepancy typical of the rushed emergency printing during this chaotic monetary period.