United States of Venezuela (1864-1953)

Although the establishment of a new monetary system was imperative, the economic situation was not the most auspicious, the country had just suffered a long war and its economy had been dismantled.

The poor state of the currency and the inability to be changed was the subject of constant public protests and refused to receive them.

Any transaction of sale was severely hampered by the poor state of the coins and the police could not meet the number of complaints that are received daily.

Coin Act of May 11, 1871: The Provisional President of the Republic, issued a new Law of currencies in which the emphasis is on quality, weight and law should take the coins. “Bolivar” to 20 gold piece Venezuelans.

Once issued sufficient local currency for transactions in the country, the foreign currency would cease to be legal tender.

On 21 August 1871 the government entered into a contract with Jose Antonio Fernandez for the establishment of a mint in Ciudad Bolivar, which could not be done, so that was asked to make a mint in North America or Europe,

It commissioned Désiré-Albert Barre General recorder Mint of Paris run the first Venezuelan currency dies with the effigy of Bolívar. “Inspired by the memory of that unforgettable face overwhelming and advised by Roulin's profile and work of David, drew embellishing the effigy of Bolivar… can say that the Bolivar Fernandez familiar sight in the entire universe, will be glorified Bolívar all the splendor of the Epic. … and the endless reproductions of all kinds, to give him every moment of our life, and so has this emblem immortal dominion of the imagination of the people, she does not accept as legitimate another effigy which is not modeled in the type ”.

On 11 June 1873 the government ordered the minting of a coin set of 50,20,10 and 5 hundredths of Venezuela, which was held at the Mint of Paris. “Venezuelan”, But only did tests, one of which is under the pedestal of the statue of the Liberator, which opened shortly after in the Plaza Bolivar in Caracas.

By a decision of 18 June 1874 when circulating coinage was banned the circulation of all foreign or domestic currency that was perforated, smooth, striped, severed, etc..

On 14 June 1876 the Ministry of Finance ordered the nickel coinage value of 2 1/2 and 1 hundredth of Venezuela.

The coins are dated 1876 or 1877.
The government that replaced Guzman Blanco ordered Venezuelan coin copper coin 1 cent, to collect and change the nickel, the measure sparked a backlash and the government was forced to declare a mandatory receipt.

The nickel coin 2 ½ cents was named quart and loach.

In 1876 he was sent to London a sum of money destined for the repayment of the foreign debt of Venezuela, not having reached agreement resolved transmittal of such sum to Paris and was targeted to the minting of silver coins 1 Venezuelan

After leaving the government for two years at the hands of General Francisco Linares Alcántara, when he died and then triggered the civil war, called reinvindicadora Revolution, General Guzman Blanco returned to take over the presidency on February 26, 1879. ” …and give foreign currencies circulating in a new course table authorized by the value they have in correct proportion to the weight and fineness of the Venezuelan currency, proclaiming the equivalences and then continue minting the currency. ”.

Coin Act of March 31, 1879 New Currency Act was modeled on the principles established by the Latin Monetary Convention and definitively marked the monetary system that has been in Venezuela to the present.

The Act established a monetary unit bolivar silver, which constitute mandatory unit from 1 July 1879.

Between November 1879 and October 1880 the country entered a batch of coins minted in Brussels, to be the Mint of Paris too copada working.

The May 4, 1885, while Guzman Blanco in Paris as Envoy Extraordinary and Minister Plenipotentiary of Venezuela to several European governments, was entrusted with the minting of a coin set where it considers most favorable, to which he replied suggesting the establishment of a

The President of the Republic, General Joaquín Crespo approved the suggestion and gave his consent to the establishment of the Mint.

The Mint was established in Caracas on North Avenue 4, No. 48, on the old Calle del Comercio, on a two-story house at the corner opposite the Water Box, corner that was called the stamp, name

We asked the mints Paris and Brussels delivery of dies used for coins minted in those countries.

On April 27 de1886 by unanimous vote of the Federal Council was named the General Guzman Blanco, President of the United States of Venezuela for the constitutional period of 1886-1888. “good, Pachano” what pachanos name originated, the name by which they are commonly known.

Following the establishment of the Mint, was declared the import ban, without exception, foreign currency, this measure ended the circulation of foreign silver coin, a practice that had led for more than 50 years a number of

The Mint brought several benefits as Guinan says Gonzalez, Venezuela Contemporary History, p. “large profits derived the country with the founding of die and the creation of the national currency. ”.

The operation of the Mint was delegated to a company called La Monnaie with many coinages which after a series of problems arose, mainly due to lack of clarity in the terms of the contract, the policy with the Mint instantiates

Even with all the problems that arose, it should be noted that the efforts of General Guzman Blanco should be the basis of the current monetary system.

In February 1892, civil war broke out, President flees country Andueza Palace and within months Joaquín Crespo takes Caracas and as Chief Executive, consolidates the triumph of the Revolution called legalistic.

The May 25, 1896 Congress passed a decree authorizing the coinage of nickel and 0.05 ½ 1.12 Bs. “El Mocho”.

When Castro seized power, the National Treasury and the nation was exhausted confronted a real economic chaos, which never made it out during the period of that administration.

In 1908 Castro traveled to Europe and the Vice President, Juan Vicente Gómez seized power on December 19.

In 1914 he discovered the first major oilfield in Venezuela which from the point of monetary circulation and the inflow of foreign capital in large-scale, coupled with the outbreak of the First World War, produced fundamental changes in the development of the national economy
Given the shortage of small change was ordered nickel coinage which was held at the Mint in Philadelphia, unable to perform in Germany.

Coin Act of June 24, 1918: Several factors contributed to economic change experienced by the country during the long period of dictatorship gomecista.

The June 24, 1918 was enacted establishing Coin monetary unit bolivar gold.

Gómez's dictatorship, which ended with his death in 1935 left a rich country and a people as much hardship not only economic, but educational, health, etc..

The new government confronted, among others, serious economic problems.

By looking at 1944 exchange rates dollar that should govern in the purchase and sale is finalized unfavorable difference between the actual value of the gold coins face value.

From 1944-1949 there were several coinages in the Mint in Philadelphia in parts of Bs 0.05, 0.12 ½, 0.25, 1, 2, 5, mainly silver and nickel.

Documents, decrees and laws generated during this period

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