Venezuelan venezolano
Encyclopedia
The venezolano was the currency of Venezuela
between 1872 and 1879. It was divided into 100 centavo
s, 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
).
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.
. Denominations included 50 centésimos and 1, 2, 4, 5, 8, 10, 20, 50 and 100 venezolanos
Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
between 1872 and 1879. It was divided into 100 centavo
Centavo
Centavo is a Spanish and Portuguese word, derived from the Latin centum, meaning "one hundred", and the suffix -avo, meaning "portion" or "fraction"...
s, 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
Currency of Venezuela
This article provides a historical summary of the currency used in Venezuela since the end of the 18th century. For the present currency of Venezuela, see Venezuelan bolívar.-Pre-independence currency:Peso = 8 Reales Escudo = 2 Pesos...
).
History
The monetary law of 11 May 1871 replaced the pesoVenezuelan peso
-History:Until 1821, the Spanish colonial real circulated in Venezuela. Between 1802 and 1821, the Caracas mint issued reales. In 1811, the United States of Venezuela was declared and issued paper money denominated in reales and pesos, with 8 reales = 1 peso. The Colombian real circulated in...
with the venezolano at par. The Latin Monetary Union
Latin Monetary Union
The Latin Monetary Union was a 19th century attempt to unify several European currencies, at a time when most circulating coins were still made of gold and silver...
bimetallic standard was adopted, with the silver venezolano (venezolano de plata or fuerte) of 25g .900 fine
Millesimal fineness
Millesimal fineness is a system of denoting the purity of platinum, gold and silver alloys by parts per thousand of pure metal by mass in the alloy. For example, an alloy containing 75% gold is denoted as "750". Many European countries use decimal hallmark stamps Millesimal fineness is a system of...
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
Venezuelan bolívar
The bolívar fuerte is the currency of Venezuela since 1 January 2008. It is subdivided into 100 céntimos and replaced the bolívar at the rate of Bs.F. 1 = Bs...
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
Banknotes were produced by the Compañia de Crédito, the Banco de Caracas and the State of GuayanaGuayana Region
The Guayana Region is an administrative region of Venezuela.The region has a population of 1,383,297 inhabitants and a territory of 458,344 km². It borders the independent nation of Guyana which forms part of The Guyanas...
. Denominations included 50 centésimos and 1, 2, 4, 5, 8, 10, 20, 50 and 100 venezolanos