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Why would you start with the de facto denomination instead of with a higher one? Tired of carrying bricks of 1000 shilling notes? Here’s a 20k shilling note so you can carry ten instead of a brick.



That's not how it works. There's no authority over the production of the shilling - anyone can make them, and they therefore trade at the cost of production.

Which means that regardless of the number you print on the notes, if buying something took a brick of them at the old denomination, it will take a brick of them at the new one too.


Not if the new one is guaranteed by a bank.


Depends on how much people trust the bank.


Or how much they fear the bank (bank with an army)




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