Trends Mint Slideshow: Failed Currencies Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint.com Published Aug 19, 2010 1 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. No matter how pessimistic you feel about the economy — and news of a new surge in jobless claims isn’t helping — chances are the worst you think might happen in the near future is a double-dip recession. Only the most extreme gloom-and-doomers believe in darker scenarios involving hyperinflation or, ultimately, the devaluation of the U.S. dollar. The truth is, currency devaluation is typically caused by extreme economic and geopolitical crises: think wars and government takeovers. It typically starts with a government’s inability to repay debts (whether domestic or to other countries), prints too much currency (hyperinflation!) and, ultimately, replaces that currency with a new one. The German Papiermark is one of the most commonly mentioned examples of hyperinflation and currency devaluation: in 1922-1923, the German government printed unbacked currency in order to pay its delinquent international debt, too much money was circulated and, as a result, that money quickly became worthless. within a year, the largest domination of the Papiermark went from 50,000 to 100 trillion. By November 1913, the inflation rate was considered 325,000,000%. The Chilean Escudo, meanwhile was replaced by the Peso in 1975 after inflation skyrocketed to 1,200% in 1973 (the year when General Augusto Pinochet seized control of the Chilean government and installed his populist military regime). The Yugoslavian Dinar was replaced (with a new currency of the same name) multiple times between 1992 and 1995 as a result of hyperinflation (which by some estimated had reached a rate of 100% per day in December 1994). Behind every failed currency is an interesting story (and you can read some of them here). With this slideshow, however, we simply present to you a dozen currencies that are no longer in circulation. Previous Post When Will China Become No. 1? Predicting GDP Growth Next Post Credit-Card Rates On The Rise? Not At These Banks Written by Mint.com More from Mint.com Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance