
Collectors of world paper money will be familiar with the wide variety of designs that have graced currency from countries around the world over the last few centuries. You can find everything from simplistic uniface notes displaying text only to intricate modern designs incorporating the latest security features. At the same time, there have been subtle messages introduced into the designs for political reasons. In this blog we take a look at a few such notes, their hidden messages, and their meaning. Of course, the notes discussed in this list are by no means the only ones; if you know of any others, feel free to share with the author at [email protected].
Argentina
On the lower denominations presently being used in circulation in Argentina, a map of the country is depicted that includes the Falkland Islands, or Islas Malvinas in Spanish. The inclusion of the Falkland Islands on this map and much of the paper money in circulation represents Argentina’s ongoing claim to the territory – a point of contention with the United Kingdom, which has administered the islands since 1833. A less subtle banknote referencing the islands was released in 2015, when Argentina issued a 50 Pesos note (Pick-362) featuring imagery related to the islands, including an Argentinean ship sunk by the British during the Falklands War in 1982.
French West Africa
In the 1940s, French West Africa, with its capital in Dakar, Senegal, issued a series of notes featuring local scenes and imagery. The highest denomination, the 5000 Francs (Pick-43), depicts three women: two indigenous women and Marianne, the personification of France and its colonial rule. While the Indigenous women are shown bare-breasted, symbolizing a more ‘primitive’ image from a European perspective, Marianne is fully clothed and positioned with her arms around the shoulders of the other women, implying control. Additionally, Marianne is slightly taller than the Indigenous women, subtly reinforcing the power dynamics at play. Given the rising anti-colonial sentiments in the region at the time, it seems likely that the designer was instructed to symbolize the enduring nature of colonial rule on the highest denomination.
Myanmar
In the late 1980s, Myanmar (known as Burma until 1989) was under martial law, following the Burma Socialist Programme Party’s repeal of the country’s constitution and its violent repression of pro-democracy protests, which had peaked in August 1988. In 1990, elections were held that were widely regarded as free and fair, with Aung San Suu Kyi, the daughter of Aung San—considered the father of modern-day Myanmar—leading the National League for Democracy to win 81% of the seats. However, the military junta did not recognize the election results, and Aung San Suu Kyi was placed under house arrest. That same year, a new 1 Kyat note was introduced into circulation (Pick-67), featuring the portrait of Aung San. Upon closer inspection, however, the watermark showed subtle features that many believed resembled Aung San Suu Kyi.
China
When Japan invaded China in 1937 during the Second Sino-Japanese War, it installed puppet governments to control local populations. Many of these puppet regimes issued their own paper money. Amid the brutal Japanese occupation, hidden messages appeared on some banknotes issued by these governments as a form of subtle resistance. For example, on several denominations of the 1938 issue by the Federal Reserve Bank of China, Confucius’s hands were depicted making an inappropriate gesture considered offensive in both Japanese and Chinese cultures. Additionally, on later issues, engravers are believed to have deliberately embedded individual letters into the designs, which, when deciphered, spelled out messages like ‘United States Army Coming’ and ‘Central Government Will Return Soon.’ These hidden symbols reflected the defiant spirit of the Chinese people during this difficult period.
Oranienburg
Camp money was sometimes issued during World War II and other periods as a way to control currency within detention facilities and create the illusion of normalcy for outsiders. Although these notes had little real value and were often poorly designed, they became a medium for hidden messages. A striking example is the currency issued at the Oranienburg Concentration Camp, located outside Berlin and in operation from 1933 to 1936. Designed by Jewish inmate Horst-Willi Lippert, the notes depicted scenes such as armed guards and barbed wire, reflecting the grim reality of life within the camp. A hidden message emerged after the first batch of notes was printed, when Lippert subtly altered the word ‘Konzentrationslager’ (Concentration Camp) by removing the top of the letter ‘g’, transforming it into ‘Konzentrationslayer’—meaning ‘Concentration Killer.’ This small but powerful act of defiance symbolized the resistance of prisoners, even within the oppressive system of the Nazis.