Ethiopia Banknotes: History, Notable Notes & Collecting Guide
Ethiopia offers a collector one of the deepest histories in world numismatics. This is a nation whose money is named for silver, that was never formally colonized, and whose banknotes carry the story of an ancient empire moving into the modern age. From the trade coin that gave the birr its name to the emperor portraits of Haile Selassie and the current federal series, Ethiopian notes are history-forward, affordable, and still widely available in crisp condition.
Ethiopian birr (ETB) National Bank of Ethiopia Haile Selassie era 2020 200 birr series
Last updated: July 2026
The currency of Ethiopia is the Ethiopian birr (ISO code ETB), issued by the National Bank of Ethiopia, the country's central bank. What makes Ethiopian notes collectible is the sweep of history they carry. The word birr means silver in Amharic, a nod to the silver trade coin that circulated for centuries. From there the paper record runs through the imperial notes of Emperor Haile Selassie, the revolutionary issues that followed the fall of the monarchy, and a modern federal series that in 2020 added a new high denomination. Ethiopia is a history-first country to collect, and most of that story is still obtainable in high grade at a modest price.
What is the Ethiopian birr?
The birr is the money of Ethiopia, one of the oldest continuous states in the world and, famously, a country that was never formally colonized. Its currency is divided into 100 santim and issued by the National Bank of Ethiopia, which was established in 1963 as the country's central bank and sole authority for paper money. Before that role was carved out, banking and note issue in Ethiopia ran through a series of earlier institutions, which is part of what gives the country such a layered numismatic record.
The name itself tells a story. Birr is the Amharic word for silver, and it points back to the Maria Theresa thaler, a large silver trade coin that circulated across Ethiopia and the Horn of Africa for generations. When Ethiopia built a modern paper currency, it kept the silver name. For years English-language notes and documents called the unit the Ethiopian dollar, and in 1976 the government made birr the official name in English as well.
How did Ethiopian paper money develop?
Ethiopia's first banknotes came from the Bank of Abyssinia in the early twentieth century, making them scarce and historically important cornerstones for a serious collection. In 1945 a modern currency was placed on firmer footing through the State Bank of Ethiopia, and the notes of the imperial period carried the portrait of Emperor Haile Selassie, whose reign ran from 1930 until 1974. Those emperor notes are the emotional heart of Ethiopian collecting.
The 1974 revolution ended the monarchy and brought the Derg, the military government that followed. Its banknotes dropped the emperor in favor of national scenes and imagery suited to the new republic, a visible break you can read straight across the paper. After the Derg fell, the modern federal government continued the series with designs celebrating Ethiopian agriculture, wildlife, education, and landmarks. In 2020 the National Bank of Ethiopia issued a redesigned family of notes with upgraded security features and added a new 200 birr note, now the country's highest circulating denomination.
Which Ethiopian banknotes are most collectible?
The most collectible Ethiopian notes cluster around the great turning points of its history: the founding of paper money, the imperial era, the revolution, and the modern republic. The table below maps the eras worth knowing, without quoting catalog numbers or prices, which shift with inventory and grade.
| Note or era | Period | What it shows | Why collectors want it |
|---|---|---|---|
| Maria Theresa thaler | 1700s to 1900s | The silver trade coin long associated with the birr | A tangible link to the silver name and the region's monetary heritage. |
| Bank of Abyssinia issues | Early 1900s | Ethiopia's earliest paper money | Founding notes, scarce and prized as historic cornerstones. |
| Imperial series, Haile Selassie | 1940s to early 1970s | The portrait of Emperor Haile Selassie | The iconic emperor notes, the most historically resonant to own. |
| Derg republic series | Mid-1970s to 1990s | National scenes with the emperor removed | Marks the fall of the monarchy visibly in the currency. |
| Modern federal series | 1990s to present | Agriculture, wildlife, landmarks, and the 2020 200 birr | The affordable, colorful entry point and the current high denomination. |
What ties these together is continuity. Few currencies let you hold an empire, a revolution, and a modern republic in a single small collection, and Ethiopia does exactly that, with each era leaving a clear mark on the paper. Ethiopia is not a monetary-collapse story like the record cases in our guide to every hyperinflation ranked. Its appeal is depth and continuity, not extreme denominations.
How do you start collecting Ethiopian banknotes?
Start with the modern federal series in Uncirculated condition. It is the best value in Ethiopian collecting: a run of colorful, current designs that is inexpensive and easy to complete, including the 2020 series with its new 200 birr note. Uncirculated (UNC) means a note was never folded or handled in commerce, the top of the letter-grade ladder that runs UNC, AU, XF, VF, F, VG, G. Because these notes are recent and saved in quantity, crisp UNC examples are the norm rather than the exception.
From there you can branch two ways. Collect by history, reaching for the imperial Haile Selassie notes and the transitional Derg issues, or collect by completeness, filling in each denomination across a series. Grading is optional at this level and is usually chosen for presentation. To understand the scale before you buy, see our banknote grading guide, and for a broader roadmap on storage, condition, and building a set with intent, read how to collect world banknotes.
Where can you buy Ethiopian banknotes?
Buy from a source-first dealer that documents where its notes come from, so you know a crisp note is genuine and correctly described. Planet Banknote stocks Ethiopian birr rather than fixing a single market price, because inventory and grades change, so we point you to the live listings instead of quoting figures that would go stale.
All Ethiopia Notes Graded Banknotes How to Collect
A practical way in: pick a modern 200 birr note for its clear place at the top of today's series, or reach for an imperial Haile Selassie note to anchor a collection in Ethiopian history. Either way, buy the best condition you can and keep the paperwork with the note.
Frequently asked questions
What is the currency of Ethiopia?
The currency of Ethiopia is the Ethiopian birr, ISO code ETB, which is divided into 100 santim. It is issued by the National Bank of Ethiopia, the country's central bank. The name birr is the Amharic word for silver, a reference to the silver trade coin that circulated in the region for generations before modern paper money.
Who issues Ethiopian banknotes?
Ethiopian banknotes are issued by the National Bank of Ethiopia, which was established in 1963 as the central bank and sole note-issuing authority. Earlier paper money came from predecessor institutions, including the Bank of Abyssinia in the early twentieth century and the State Bank of Ethiopia from 1945, which is part of why the country has such a layered numismatic history.
What is the highest denomination Ethiopian banknote?
The 200 birr note is the highest circulating denomination. It was introduced in 2020 when the National Bank of Ethiopia issued a redesigned series with upgraded security features. Despite being the top note, it remains affordable for collectors, which makes the modern series a friendly, low-cost entry point into Ethiopian collecting.
Are older Ethiopian banknotes with Haile Selassie valuable to collectors?
The imperial notes bearing the portrait of Emperor Haile Selassie, whose reign ran from 1930 to 1974, are among the most sought-after Ethiopian notes for their history and iconic imagery. As demonetized money they are no longer spendable, so their worth today comes entirely from collector demand, which means condition and provenance matter most.
Did Ethiopia ever have hyperinflation?
Ethiopia is not one of the classic hyperinflation stories, and it does not appear among the record collapses catalogued in the Hanke-Krus World Hyperinflation Table published by the Cato Institute. Its currency is collected far more for deep history, from the silver-named birr to the emperor notes, than for monetary breakdown. That long, layered continuity is exactly what draws collectors to Ethiopian paper.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.