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A currency card, cash strap, currency band, money band, banknote strap or bill strap is a simple paper device designed to hold a specific denomination and number of banknotes. [1] It can also refer to the bundle itself. [2] In the United States, the American Bankers Association (ABA) has a standard for both value and color. Note that all bills ...
Generated bundles are packed together in groups of 10 (1000 banknotes) and vacuumized. A cliche print [clarification needed] containing bank and branch details is applied to the plastic package seal. Vacuum packing is the most reliable and effective way of storing currency, which is protected against tarnishing, e.g. from moisture and dirt.
They were of uniform appearance except for the name of the bank and were issued as three series or charter periods: 1869–1882, 1882–1902, and 1902–1922. In 1929 the Great Depression motivated an emergency reissue, but they were discontinued in 1933. The denominations issued were $1, $2, $5, $10, $20, $50, $100, $500 and $1,000.
The European Central Bank (ECB) stipulates that the financial institutions may always return the banknotes as standardized units (bundles of 1,000 banknotes, sorted by denomination, banded as packages of 100 banknotes) without having sorted them for the fitness level.
The ninth series of the Swiss franc, currently in circulation. As of 2022, the Swiss 1000-franc banknote is the world's 2nd highest value currently-issued banknote, after the Brunei $10,000 bill (worth around 6,900 Swiss francs in 2022), followed by the Singapore $1,000 note (worth around 678 CHF) and the 500 euro note (worth around 490 CHF), was demonetised.
The one-thousand naira note, radiating in gold tones, portrays the faces of Alhaji Aliyu Mai-Bornu and Clement Isong, the first and second indigenous governors of the Central Bank of Nigeria, respectively. [18] Their presence on this denomination commemorates their contributions to the nation's financial system. [19]
The Bank Act of 1871 limited the smallest denomination the chartered banks could issue to $4, increased to $5 in 1880. To facilitate purchases below $5 without using Dominion notes, some charted banks issued notes in unusually domesticated denominations, such as the $6 and $7 notes issued by the Molsons Bank in 1871.
Some NCBs source different denominations from different printers, [118] and some source even a single denomination from multiple printers. [118] NCBs that issue banknotes are free to source from any authorized printers, and do so in varying quantities.