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10 000 Dollars Emergency Bearer Cheque

Issuer Reserve Bank of Zimbabwe
Year 2003
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Value 10 000 Dollars (10 000 ZWD)
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Reverse description The reverse is dominated by a broad guilloche border executed in red and pink tones, enclosing a large central panel of multicolour fine-line lathe work in green, gold, and orange. At the lower left, a vignette of three rhinoceroses is superimposed over a repeated numeral underprint reading '50', rendered in orange and red.
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Protection description Zimbabwe Bird watermark visible when held to light
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Comments

Zimbabwe's hyperinflation was already severe by 2003, but this note predates the truly catastrophic phase — the 100 trillion dollar notes were still five years away. The "Emergency Bearer Cheque" designation was a legal workaround: by issuing these instruments as cheques rather than banknotes, the Reserve Bank sidestepped statutory limits on currency issuance that the government's own legislation had imposed.

Fidelity Printers and Refiners, a subsidiary of the Reserve Bank itself, handled production domestically — a consequence of Zimbabwe's increasing international isolation making foreign security printing contracts difficult to maintain.

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