Zimbabwe dollars going for much more than the black market rate on eBay
A single Z$5,000,000 note is selling on eBay for about $50. That is about Z$100,000 per US$1, which is a zillion times better than the current black market rate of US$0 per Z$infinity.
Since the upside is limitless, there must be a way to arbitrage and make some money. But how?
I called my bank and they said they do not sell Zimbabwe dollars.
You can buy Z$20 bills here, but I don’t think they would be much of a collector’s item, as people seem to only really value the very large denominations.
I checked craigslist and a couple of smart arbitrageurs have already beat me to the punch.
After launching the Million Zimbabwe Dollar Homepage, I have received a lot of email asking for the notes, but I can’t find a supply. If any readers have access and would like to partner up, let me know.
It is interesting that they have become so worthless that they are now rare and unique, and therefore are increasing in value.
