The venezolano was the currency of Venezuela between 1872 and 1879. It was divided into 100 centavos, although the names céntimo and centésimo were also used. Venezolano was also the name of two currencies planned in 1854 and 1865 (see Currency of Venezuela).
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History
The monetary law of 11 May 1871 replaced the peso with the venezolano at par. The Latin Monetary Union bimetallic standard was adopted, with the silver venezolano (venezolano de plata or fuerte) of 25g .900 fine and a gold venezolano of 1.612 g .900 fine. The subsidiary silver coinage was only .835 fine, legal tender to a maximum of 40 venezolanos per transaction.
From 1 January 1872 all accounts had to be converted and expressed in venezolanos and centavos. Coins minted in conformity with the 1857 monetary law were to continue in circulation. The new coinage was minted in Paris and was introduced into circulation in June 1874. The Venezuelan coinage of 1858 had been very limited; the coinage of 1873-1877 marked the establishment of a true, modern national coinage.
The monetary law of 31 March 1879 replaced the venezolano as the monetary unit with the bolívar at 5 bolívares = 1 venezolano or 1 bolívar = 20 centavos de venezolano.
Coins
In 1874, silver 5, 10, 20 and 50 centavo and 1 venezolano coins were introduced. These were followed in 1875 by gold 5 venezolanos and in 1876 by cupro-nickel 1 and 2½ centavos.
Banknotes
Banontes were produced by the Compañia de Crédito, the Banco de Caracas and the State of Guayana. Denominations included 50 centésimos and 1, 2, 4, 5, 8, 10, 20, 50 and 100 venezolanos
References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Grillet Correa, Asdrúbal (2000), Monedas metálicas venezolanas, Caracas: Banco Central de Venezuela, ISBN 980-6395-19-0, http://www.bcv.org.ve/Upload/Publicaciones/tecnic6.pdf.
- based on the original writings of Albert Pick ; edited by Neil Shafer & George S. Cuhaj ; Randy Thern, numismatic cataloging supervisor ; special consultants Colin R. Bruce ... (2002), Shafer, Neil; Cuhaj, George S., eds., Standard catalog of world paper money: specialized issues, 1 (9th ed.), Iola, WI: Krause, pp. 1185–1196, ISBN 0-87349-466-0
- Historia de la Moneda Venezolana, http://monedasdevenezuela.net/Historia/historia.htm, retrieved 27 May 2008 (Spanish) Venezuela's monetary history, including a summary of coinage legislation.
- Numismatic Catalog of Venezuela, http://numismatica.cheng-ca.com/en/index.htm, retrieved 27 May 2008 Detailed information, with images, of all Venezuelan coins and paper money, regularly updated.
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