In Venezuela, where hyperinflation has rendered paper money practically worthless, many people have found an unexpected way to repurpose their devalued currency—by transforming banknotes into art and functional goods. With bolívar bills holding little purchasing power, Venezuelan migrants and locals have begun folding, weaving, and sculpting the once-valuable notes into handbags, wallets, baskets, and decorative sculptures.
This adaptation is not just a symbol of economic collapse, but also a powerful act of resilience—a way for struggling Venezuelans to earn a living while raising awareness of their country’s dire situation.
Venezuela’s Economic Collapse: Why is Money Worthless?
The Venezuelan economy has been in crisis for years, largely due to government mismanagement, declining oil production, and extreme inflation. Once one of the wealthiest countries in Latin America, Venezuela’s currency—the bolívar—has lost over 99.9% of its value since 2013.
Hyperinflation and Worthless Banknotes
- In 2018, inflation in Venezuela reached 1,700,000%, meaning prices doubled almost every month.
- The government has devalued its currency multiple times, even introducing new versions of the bolívar, yet inflation persists.
- The cost of printing banknotes often exceeds their actual value, making them useless for everyday transactions.
- Many Venezuelans rely on the U.S. dollar or cryptocurrencies because their national currency is no longer practical.
With stacks of banknotes becoming as worthless as scrap paper, people started using them creatively rather than discarding them.
The Art of Survival: Weaving Money into Functional Goods
Faced with economic hardship, many Venezuelan migrants in Colombia—especially in cities like Cúcuta and Santa Marta—have started crafting and selling handmade items made entirely from banknotes.
Popular Items Made from Banknotes:
- Handbags and wallets – Carefully folded bolívar bills are woven together to create durable, colorful purses and wallets.
- Decorative sculptures – Many artisans have crafted origami-style artwork, including animals, flowers, and even portraits.
- Baskets and household items – Banknotes are repurposed into containers and other practical goods, often selling for more than their original value.
Earning More than the Money’s Face Value
For perspective, a handbag made from 1,200 bolívar bills can sell for around $12 USD—which is worth far more than the actual value of the bills themselves. This ironic yet brilliant use of currency allows artisans to make an income from something that would otherwise be discarded.
The Human Side: Stories of Survival and Hope
Many of the artisans selling these items are Venezuelan migrants who fled their country in search of work, food, and stability. For them, this new craft is a way to survive while also drawing attention to Venezuela’s humanitarian crisis.
1. A Migrant’s Struggle Turned into Art
A Venezuelan man living in Colombia, José Fernández, started folding bolívar bills into wallets when he realized he could sell them for cash. “I used to carry these bills in my pocket for everyday purchases. Now, they’re worth more as art than as money.”
2. From Trash to Treasure
A woman named Mariana Rojas was struggling to find work when she saw others making handbags out of banknotes. “I never thought I would be weaving money together instead of spending it,” she laughed. “But in a way, we’re giving this money a second life.”
More Than Just Art: A Symbol of Venezuela’s Economic Crisis
The practice of turning worthless money into valuable goods is both a creative survival tactic and a tragic commentary on Venezuela’s economic collapse.
It serves as a global reminder of how hyperinflation can destroy a nation’s economy, rendering its own currency useless. By selling these banknote-crafted items, Venezuelans are not just earning a living but also making a statement about their country’s struggles.
The Irony of the Situation:
- Venezuelans once needed wheelbarrows full of cash to buy groceries.
- Now, that same cash is more valuable as a piece of art than as legal tender.
- The very currency that once symbolized wealth is now a souvenir of economic disaster.
Final Thoughts: Creativity and Resilience in Crisis
Venezuelans have turned tragedy into creativity, using their devalued banknotes to craft art, wallets, and handbags that sell for more than their actual monetary value. While this trend showcases human resilience, it also highlights the devastating effects of hyperinflation on an entire population.
These items aren’t just souvenirs—they’re symbols of survival. Every handbag or sculpture woven from bolívar bills tells the story of economic collapse, forced migration, and the determination to make a living against all odds.
Would you buy a wallet made of Venezuelan bolívar notes as a symbol of economic history? Or does it serve as a reminder of the hardships people face when their money becomes worthless?