By June 2, under Maduro's plan, new bolivars with lower denominations would be circulated — but old ones, with denominations as high as 100,000, would remain valid.
All the money is paper money, and much of it, especially the lower denominations, such as twenty-five piastres (about a nickel), is so tattered and worn and dirty that the physical sensation of handling it is extremely unpleasant.
The obverse of some banknotes contains images of communist leaders, such as Mao Zedong, leader of China's communist revolution, whose likeness is pictured on several notes; lower denominations often contain images of people dressed in traditional attire.
Cities and towns were filled with panic-stricken people who were thronging banks to deposit money and withdraw lower denominations.
Moreover, cash machines ran out of notes more frequently if lower denominations were used, it was argued.
Three days after 500 ($7) and 1,000 rupee notes were withdrawn as part of anti-corruption measures, hordes of panicky people are thronging banks and ATMS to deposit expired money and withdraw lower denominations to run their lives.
As he continued tossing the mix of hundreds, fifties, twenties and lower denominations in intermittent bursts, people in the area left their televisions and took to the curbs.
Mint officials originally assumed that whatever design was selected for the double eagle would simply be scaled down for the three lower denominations.
Although the reverse for the dollar was probably selected to match that of the quarter and half dollar, it is not known why the flying eagle design was not used for the lower denominations in the first place.
