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.
One thousand Hong Kong Dollar note towel at Fa Yuen Street Market
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.
When YOU book Frank’s of Easy Hong Kong Private Tour, YOU can pay through PayPal.
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.
Hong Kong newspaper said 500 dollar (Big Cow) note will be upgraded, HSBC’s 1000 dollar note will be issued in Chinese New Year (Photo from Hong Kong Public Libraries, Multimedia Information System)
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.
Hong Kong newspaper shows the photo of the new 1000 dollar note. (Photo from Hong Kong Public Libraries, Multimedia Information System)
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.
Apart from “Gold Cows” in the wallets, a lot of brown cows live at Ngong Ping near the Big Buddha. Travelers can take Frank the tour guide’s Lantau private car tour to say hello to Buddha and the cows easily!
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”!
Zimbabwe $50 billion dollar note looks like Hong Kong’s 1000 dollar note. But they are very different in their real value!
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!
Hexagonal rock column of Hong Kong Geopark, Bank of China 2018 version 500 HK 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.
Shops and eateries in Hong Kong may not accept 1000 dollar note.
The newest 2018 version 1000 dollar note have the most advanced security features.
HSBC’s 2018 version 1000 dollar note shows users the amazing Hong Kong skyline!
However 1000 dollar note still has the second lowest volume of circulation.
Hong Kong Dollar towels in the local market! 50 dollar note and 1000 dollar note are rare. 100 dollar note is still very popular.
Actually the popular credit cards and the up-and-coming mobile payments have replaced the large denomination.
Visa and Master are the most popular credit cards in Hong Kong. Travelers may still prepare some Hong Kong Dollar notes for the local small shops and eateries.
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!
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