500000 ZWD #627

Front

Chiremba Balancing Rocks near Harare, a distinctive granite formation that has become a national symbol of Zimbabwe and appears on multiple denominations of Zimbabwean currency. These naturally balanced rock formations are found in Epworth, approximately 12 kilometers southeast of Harare, and have been used as a currency motif since independence in 1980. The rock formation symbolizes the delicate balance required in development and nature.

Back

The reverse displays the Reserve Bank of Zimbabwe seal with a stylized Zimbabwe Bird (the national emblem from the ruins of Great Zimbabwe), the denomination '500000' (Five Hundred Thousand Dollars), expiry date '30th June 2008', issue date '1st July 2007', and the designation 'BEARER CHEQUE'. The serial number AG7067997 appears at lower right, and Dr. G Gono's signature as Governor appears at left. The bearer cheque format was an emergency measure during Zimbabwe's hyperinflation crisis.

History

This 500,000-dollar bearer cheque was issued on 1 July 2007 during Zimbabwe's catastrophic hyperinflation period, with an expiry date of 30 June 2008. The 'bearer cheque' designation was adopted by the Reserve Bank of Zimbabwe as an emergency expedient to rapidly introduce high-denomination notes without formally altering the currency. Dr. Gideon Gono served as Governor of the Reserve Bank from 2003 to 2013, presiding over the worst hyperinflation in modern history. This note is part of the Third Zimbabwe Dollar series (ZWD, 2006–2009), which saw denominations escalate from thousands to trillions. The currency was eventually abandoned in April 2009 when Zimbabwe adopted a multi-currency system. These bearer cheques are now demonetized and widely collected as historic artifacts of hyperinflation. The Chiremba Balancing Rocks motif has appeared on Zimbabwean currency since the first post-independence banknotes.