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SHIPPING AVAILABLE > A mylar sleeve filled with -20- Belgian coins, as shown ~ All circulated, of varying dates, mostly silver composition, including Centimes and Bolivar coins.
Venezuelan coinage, like many other nations in the Americas, began with the Spanish colonial real during the 16th to 19th centuries. After gaining independence in 1811, Venezuela initially continued to use the Spanish real, but later minted its own coins.
In 1879, the venezolano was introduced as the official currency, featuring silver coins in denominations like 5, 10, 20, 50 centavos, and 1 venezolano. These silver coins played a vital role in the country's economy, facilitating trade and commerce.
However, in 1887, the bolívar, named after the Venezuelan independence hero Simón Bolívar, replaced the venezolano. The bolívar also had silver coins, with denominations of 12½, 25, and 50 céntimos (cents) and 1, 2, and 5 bolívares. These coins, especially the 5 bolívares, were highly valued for their silver content.
Over time, due to fluctuating silver prices and economic challenges, the silver content in Venezuelan coins decreased. The country moved towards using other metals like nickel and copper-nickel for its coinage. The bolívar, although undergoing several revaluations and reforms throughout the 20th and 21st centuries, remains the official currency of Venezuela.
It's important to note that the balboa is the official currency of Panama, not Venezuela. While both countries share a history of Spanish colonization, their monetary systems developed independently. Today, Venezuelan coins are primarily made of base metals and feature various denominations, reflecting the country's ongoing economic and political changes.
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