Paper Money

IBNS Journal relates 'birth' of paper money of Eritea

The “birth” of paper money for the nation of Eritrea is told in the most recent IBNS Journal, the quarterly publication of the International Bank Note Society.

Owen W. Linzmayer tells the story of how notes were designed for the new nation, formerly a part of Ethiopia. After a long struggle, when independence was finally declared in 1993, the new Eritrean government began to reconstruct the nation after years of war.

In 1994 Eritrean officials contacted the Bureau of Engraving and Printing through U.S. State Department connections, asking for help in designing the nation’s coins and paper money. The job of designing the paper notes was handed to BEP designer Clarence Holbert, who used photographs of the people and geography of Eritrea to create his designs. The nakfa-denominated notes were issued in 1997.

Other articles include David Lok writing about Amazon explorer Candido Rondon, who is depicted on Brazil’s paper money; Gene Hessler reveals the hidden secret initials of Canadian bank note engraver Yves Baril on notes; Peter Symes writes about the IBNS symbols used since it was organized 50 years ago; Kaan Uslu and Omer Yalcinkaya contributed a “tragic tale” of three Turkish notes; Neil Kaplan writes about the finances and currency of Manchuria from 1932 to 1950; Jonathan Callaway and Dave Murphy write about the Leith Banking Co., one of Scotland’s forgotten banks; and Don Cleveland writes about Confederate States of America notes.

In addition to these stories, this issue includes membership news from chapters around the world and information about new issues of world notes.

For information about the society, email IBNS U.S. membership secretary Roger Urce at, write him at Box 289, Saint James, NY 11780-0289, or visit the IBNS website at ¦

Community Comments