Note: Thanks to the author of the article to mention Rafael Diaz CASANOVA our site interezante monedadevenezuela.net in his work.
Article published in the Daily Universal on April 13, 2012
RAFAEL DIAZ CASANOVA | THE UNIVERSAL
Friday April 13, 2012 3:30 PM
Called “monetary cone” the set of coins that exist and circulate simultaneously in a country and described in ascending or descending order.
In Venezuela, the history of the coins is fascinating.
The beginnings of Venezuela are the coins that were circulated in the countries we settled.
The first coin minted recognized as Venezuela is eighth in copper, 1802.
General Antonio Guzmán Blanco, by Act of March 31, 1879 set as the bolivar currency silver is made compulsory service on July 1 of that year.
From then until 2007 is that silver bolivar currency we use Venezuelans, though in recent years that was not metal.
Without going into the interesting details of the evolution of our currency and its equivalence, we note that the stability of our currency was one of the best of all Latin American countries.
The cone was designed monetary coins consisted of five, two and one bolivar and a real fractional (0.50) means (0.25), a loach (0.125) and puja (0.05).
The tickets that were printed five hundred, one hundred, fifty, twenty and ten bolivars.
Before the Central Bank of Venezuela took the coins to be issued in 1941, trading houses and banks that issued notes backed by assets.
Later and as a tribute to the currency devaluation that began in February 1983, were minted coins and printed many prostituted our economy. “bond” and received the name of its sponsor.
And also for the same reason coins were minted ten, twenty, fifty, a hundred and five hundred bolivars.
On March 6, 2007 promulgating the law requiring from 1 January 2008 circulation initially called bolivar.
The then decreed monetary cone composed of one bolivar coin, fifty cents, twenty cents, twelve and a half cents, ten cents, five cents and a penny.
Today, when Venezuela is subject to exchange control nonsense that places the legal relationships between four thirty-something close to six bolivars per dollar, the pieces we have monetary values that start at about seventeen hundred-dollars and bolivars
The fractional coins are meaningless and to cancel any invoices daily need what the people call, a bale of cash.
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