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50 – Poland Polish Zloty
The zloty (Polish: sign: zł; code: PLN) is the official currency and legal tender of Poland. It is subdivided into 100 grosz(gr). It is the most traded currency in Central and Eastern Europe and ranks 22nd in the foreign exchange market. A word Zloty is a masculine form of the Polish adjective ‘golden’, which closely relates with its name to the guilder whereas the grosz subunit was based on the groschen, cognate to the English word groat.
First Zloty – A 15th-century denar featuring the Polish white eagle, minted in Torun. The first form of tangible currency in Poland was the denarius (denar), which circulated since the 10th century. During World War I, the rubel and krone were replaced by the Polish marka, a currency initially equivalent to the German Papiermark. The marka stayed in use after Poland regained its independence in 1918, but was extremely unstable, disrupted the whole economy, and triggered galloping inflation.
Second Zloty – The Zloty was reintroduced in 1924 and replaced the Polish marka (500-mark banknote pictured above). The Zloty was reintroduced by the Minister of Finance, Wladyslaw Grabski, in April 1924. It replaced the marka at a rate of 1 Zloty equaling 1,800,000 marks and was subdivided into 100 grosz, instead of the traditional 30 grosz, as it had been earlier.
Third Zloty (PLZ) – Various banknotes issued between 1977 and 1990. In 1950, the third złoty (PLZ) was introduced, replacing all notes issued up to 1948 at a rate of one hundred to one, while all bank assets were re-denominated in the ratio 100:3.
Fourth Zloty (PLN) – With the fall of communism in 1989 and successive hyperinflation in 1990, the Zloty had to be redenominated.
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