Over the past 176 years, 400 currencies have disappeared from the world. Economists from the International Monetary Fund and historian Katherine Schenk from Oxford University reached this conclusion.

When currencies appeared and disappeared

Analysts gathered data on state currencies from 1850 to 2026 and found that out of 568 'alive' currencies, only 163 remained, the others disappeared.

New currencies appeared actively during the decolonization period of the 1960s and after the collapse of the USSR and Yugoslavia in the 1990s.

At its peak in 1994, there were 192 currencies in the world. However, after the emergence of a single currency for the eurozone, their number decreased by 23.

In this sense, currency is like software: it is issued under a specific political and economic system, and when the system changes, the old version is withdrawn from support.

Therefore, the appearance of new money often coincides with changes in the state structure, and the departure of old ones with crises and reforms.

A currency is not an eternal attribute of a country: it can disappear even if the state continues to exist.

Why do currencies disappear

According to experts, currencies most often appear for political reasons, primarily after gaining independence. They disappear into oblivion due to economic factors, such as devaluation and inflation.

The median lifespan of a currency is 33 years, barely