HSBC announced the issuance of the “Gold Cow”, 1000 dollar note, on 30 Dec 1977…
Hong Kong Shanghai Banking Corporation (HSBC) announced its issuance of 1000 Hong Kong Dollar note on 30 Dec 1977.
As the 1000 dollar note is in bright gold color, Hong Kong citizens call the note as the “Gold Cow”.
However, the counterfeit “Gold Cows” undermine the credibility of the real “Gold Cows”.
The credit cards and mobile payments further reduce the need of large denomination.
Frank the tour guide is going to show readers the history of the 1000 Hong Kong Dollar note in this blog post.
Actually travelers can use your credit cards and mobile payments easily in Hong Kong.
Clients can book Frank’s Hong Kong private tour by PayPal easily.
The “Gold Cow” is harassed by fake money and replaced by credit cards and mobile payments
On 31 Dec 1977, Hong Kong newspapers reported that HSBC announced the issuance of the 1000 Hong Kong Dollar note for the first time on 30 Dec 1977.
As Hong Kong’s economy and citizens’ income both grew quickly, the new 1000 dollar notes could help the citizens to make big purchases more easily.
Citizens could get the new notes from the branches of HSBC on 10 Jan 1978 for the coming Chinese New Year.
As this new largest denomination had a bright gold color, citizens gave it a nickname, “Gold Cow”, and saw it as a symbol of status and wealth.
In Hong Kong’s gambling movies and gangster movies, the reproductions of “Gold Cow” often appear on the stud poker tables as the wagers and in the kidnap cases as the ransoms!
The real gangsters did counterfeit the “Gold Cows” to try to earn big money in a short period of time.
Some bad guys even palmed the old African or South American currencies off as the real “Gold Cows”!
Police reported the fake 1000 Hong Kong Dollar cases in 2007, 2013 and 2015.
Thus people mistrust the “Gold Cows” and just love the brown in color “Big Cows”, 500 Hong Kong Dollar note!
Most ATMs in Hong Kong now don’t offer 1000 dollar note to users.
Citizens don’t want to use it.
Small shops and eateries may refuse to receive it.
The newest 2018 version 1000 dollar note have the most advanced security features.
However 1000 dollar note still has the second lowest volume of circulation.
Actually the popular credit cards and the up-and-coming mobile payments have replaced the large denomination.
People prefer to use the Visa, Master and Union Pay credit cards.
People are also using more mobile payments, Alipay, WeChat Pay, Apple Pay, Google Pay etc.
Travelers can use credit cards and mobile payments easily in Hong Kong and book Frank’s private tour by PayPal
Travelers are no need to exchange and keep a lot of local currencies in Hong Kong.
Travelers can use credit cards and mobile payments easily in the advanced Hong Kong.
Clients can book Frank the tour guide’s easy Hong Kong private tour through PayPal by credit card or debit card.
Just wait for your booking in 2021!