The venezolano was the currency of Venezuela between 1872 and 1879. It was divided into 100 centavos, although the names céntimo and centésimo were used, venezolano was the name of two currencies planned in 1854 and 1865. 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 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 limited, the coinage of 1873-1877 marked the establishment of a true. The monetary law of 31 March 1879 replaced the venezolano as the unit with the bolívar at 5 bolívares =1 venezolano or 1 bolívar =20 centavos de venezolano.
In 1874, silver 5,10,20 and 50 centavo and 1 venezolano coins were introduced and these were followed in 1875 by gold 5 venezolanos and in 1876 by cupro-nickel 1 and 2½ centavos. Banknotes were produced by the Compañia de Crédito, the Banco de Caracas, denominations included 50 centésimos and 1,2,4,5,8,10,20,50 and 100 venezolanos
Silver coins are possibly the oldest mass-produced form of coinage. Silver has been used as a coinage metal since the times of the Greeks, the ancient Persians used silver coins between 612-330 BC. Before 1797, British pennies were made of silver, as with all collectible coins, many factors determine the value of a silver coin, such as its rarity, demand and the number originally minted. Ancient silver coins coveted by collectors include the Denarius and Miliarense, while more recent collectible silver coins include the Morgan Dollar, other than collectors silver coins, silver bullion coins are popular among people who desire a hedge against currency inflation or store of value. Silver has a currency symbol of XAG under ISO4217. The earliest coins of the world were minted in the kingdom of Lydia in Asia Minor around 600 BC. The coins of Lydia were made of electrum, which is a naturally occurring alloy of gold and silver, the concept of coinage, i. e. stamped lumps of metal of a specified weight, quickly spread to adjacent regions, such as Aegina.
In these neighbouring regions, inhabited by Greeks, coins were made of silver. As Greek merchants traded with Greek communities throughout the Mediterranean Sea and these early Greek silver coins were denominated in staters or drachmas and its fractions. More or less simultaneously with the development of the Lydian and Greek coinages, the Chinese coins, were a different concept and they were made of bronze. The coins of the Greeks were issued by a number of city states. The coinage systems were not entirely the same from one place to another, the so-called Attic standard, Corinthian standard, Aiginetic standard and other standards defined the proper weight of each coin. Each of these standards were used in places throughout the Mediterranean region. In the 4th century BC, the Kingdom of Macedonia came to dominate the Greek world, the most powerful of their kings, Alexander the Great eventually launched an attack on the Kingdom of Persia and conquering it. Greek coins were now issued by kings, and only to an extent by cities.
Greek rulers were now minting coins as far away as Egypt, the tetradrachm was a popular coin throughout the region. This era is referred to as the hellenistic era, while much of the Greek world was being transformed into monarchies, the Romans were expanding their control throughout the Italian Peninsula. The Romans minted their first coins during the early 3rd century BC, the earliest coins were - like other coins in the region - silver drachms with a supplementary bronze coinage
Monnaie de Paris
The Monnaie de Paris, created in 864, is the oldest continuously operating minting institution. Many ancient coins are housed in the collections maintained there, a Neoclassical edifice, the Hôtel de la Monnaie was designed by Jacques-Denis Antoine and built from 1767–1775 on the Left Bank of the Seine. The Monnaie was the first major civic monument undertaken by Antoine, today it is considered a key example of French Neoclassicism in pre-Revolutionary Paris. The building is typified by its heavy external rustication and severe decorative treatment and it boasts one of the longest façades on the Seine, its appearance has been likened to the Italian palazzo tradition. The building, which housed mint workshops, administrative rooms, and residential quarters and it remains open to the public and includes a numismatics museum, located within what was once the main foundry. List of museums in Paris Philippe Danfrie – Superintendent of the Mint in the late 16th century, pierre Marie François Ogé Bust of Jacques Denis Antoine Building the financial façade, Jacques-Denis Antoines Hôtel de la Monnaie, the Parisian mint, 1765–1775 Monnaie de Paris
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, Peso =8 Reales Escudo =2 Pesos History Venezuela shared the common Spanish-American monetary system, based on the silver peso and the gold escudo, current throughout Spanish America. The prohibition on the circulation of American coin in Spain resulted in coin from the Spanish mints returning to Spain, the Guipuzcoana Company brought in a large quantity of cobs from the Lima, Potosí, and Mexico City mints. This cob coinage remained the coinage in circulation for many years, there was a special coinage for Venezuela in 1787. Claiming a shortage of circulating coin, Caracas petitioned for distinctive coins with a value below standard that would only circulate locally. This request was granted by an ordinance of December 25,1786. Another ordinance, February 3,1787, authorized 200,000 pesos in coins only 60 percent of standard weight and these coins were minted at Mexico City and shipped on April 16.
But some officials learned that the coins were not distinctive—they differed from regular coinage only in weight—and protested the issue, a royal ordinance of August 20,1787 ordered the coins withdrawn and they were recalled and melted down in 1788. The 18th century was characterized by a money supply. By 1795 the use of tokens was very widespread, but their unregulated issue, to deal with this situation, the Caracas Cabildo authorized official copper tokens, and Venezuelas first mint opened at Caracas in November 1802. Lightweight coinage for Venezuela, Mexico City mint, 1/2 real,1.01 g 1 real,20 mm,2.02 g 2 reales,4.05 g, Congress authorized one million pesos in copper coin. The notes were put into circulation November 18,1811 as a forced tender backed by national revenues, August 27,1811,1,24,8, and 16 pesos. A supplement of November 27,1811 authorized 20,000 pesos in small cardboard notes of 2 reales, the peso notes were counterfeited extensively, so a second issue of new design was authorized February 7,1812.
A third issue, authorized December 31,1812 appeared just before the royalists occupied Caracas, the royalists recovered as many notes as possible and had them burned in La Victoria. This latter coin circulated widely, it was known as morillera in Venezuela, in March 1817 at El Yagual, Páez asked that all silver be turned in. He minted silver coins for the army at Caujaral. Bolívar did not favor this act and decreed that the coins should not circulate outside the province of Barinas, royalist copper, 1/8 1/2 silver,2 reales. Bolívar prohibited the circulation of all coin and all post-1810 royalist coin that had not been counterstamped at Bogotá
The Philadelphia Mint was created from the need to establish a national identity and the needs of commerce in the United States. This led the Founding Fathers of the United States to make an establishment of a national mint. The Coinage Act of 1792 was entered into law on April 2 and it proclaimed the creation of the United States Mint. Philadelphia at that time was the capital, therefore the first mint facility was built there. David Rittenhouse, an American scientist, was appointed the first director of the mint by President George Washington, two lots were purchased by Rittenhouse on July 18,1792, at Seventh Street and 631 Filbert Street in Philadelphia for $4,266.67. The next day, demolition of a whiskey distillery on the property began. Foundation work began on July 31, and by September 7, the smelt house was the first public building erected by the United States government. A three-story brick structure facing Seventh Street was constructed a few months later, measuring nearly 37 ft wide on the street, it only extended back 33 ft.
The gold and silver for the mint were contained in basement vaults, the first floor housed deposit and weighing rooms, along with the press room, where striking coins took place. Mint official offices were on the floor, and the assay office was located on the third floor. A photograph of the Seventh Street building taken around 1908 show that by the year 1792, between the smelt house and the building on Seventh Street, a mill house was built. Horses in the basement turned a mill located on the first floor. In January 1816, the smelt and mill houses were destroyed by a fire, the smelt house was never repaired and all smelting was done elsewhere. The mill house, which was destroyed, was soon replaced with a large brick building. It included a new engine in the basement to power the machinery. Until 1833, these three buildings provided the United States with hard currency, operations moved to the second Philadelphia mint in 1833, and the land housing the first mint was sold. In the late 19th or early 20th century, the property was sold to Frank Stewart, with no governmental help, the first mint was demolished between 1907 and 1911.
Now, only a plaque remains to memorialize the spot
A gold coin is a coin that is made mostly or entirely of gold. Traditionally, gold coins have been circulation coins, including coin-like bracteates, since recent decades, gold coins are mainly produced as bullion coins to investors and as commemorative coins to collectors. While modern gold coins are legal tender, they are not observed in financial transactions. For example, the American Gold Eagle, given a denomination of 50 USD, has a value of more than 1,000 USD. The gold reserves of banks are dominated by gold bars. Gold has been used as money for many reasons and it is fungible, with a low spread between the prices to buy and sell. Gold is easily transportable, as it has a value to weight ratio, compared to other commodities. Gold can be re-coined, divided into units, or re-melted into larger units such as gold bars. The density of gold is higher than most other metals, making it difficult to pass counterfeits, gold is extremely unreactive, hence it does not tarnish or corrode over time.
Gold was used in commerce in the Ancient Near East since the Bronze Age, the name of king Croesus of Lydia remains associated with the invention. In 546 BC, Croesus was captured by the Persians, who adopted gold as the metal for their coins. Ancient Greek coinage contained a number of coins issued by the various city states. The Ying yuan is a gold coin minted in ancient China. Larger units such as the various talent measures were used for high value exchanges, the German gold mark was introduced in 1873 in the German Empire, replacing the various local Gulden coins of the Holy Roman Empire. Gold coins had a long period as a primary form of money. Most of the world stopped making gold coins as currency by 1933, gold-colored coins have made a comeback in many currencies. However, gold coin always refers to a coin that is made of gold, many countries continue to make legal tender gold coins, but these are primarily meant for collectors and investment purposes and are not meant for circulation. Many factors determine the value of a coin, such as its rarity, condition
Cupronickel is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. Despite its high content, cupronickel is silver in colour. Cupronickel is highly resistant to corrosion in seawater because its potential is adjusted to be neutral with regard to seawater. Another common use of cupronickel is in silver-coloured modern-circulated coins, a typical mix is 75% copper, 25% nickel, and a trace amount of manganese. In the past, true silver coins were debased with cupronickel, Cupronickel alloys are used for marine applications due to their resistance to seawater corrosion, good fabricability, and their effectiveness in lowering macrofouling levels. Alloys ranging in composition from 90% Cu–10% Ni to 70% Cu–30% Ni are commonly specified in heat exchanger or condenser tubes in a variety of marine applications. Desalination plants, Cupronickel alloys are used in brine heaters, heat rejection and recovery, offshore oil and gas platforms and processing and FPSO vessels, Cupronickel alloys are used in systems and splash zone sheathings.
Power generation, Cupronickel alloys are used in steam turbine condensers, oil coolers, auxiliary cooling systems and high pressure pre-heaters at nuclear, seawater system design, Cupronickel alloys are used in tubular heat exchangers and condensers and high pressure systems. Seawater system components, Cupronickel alloys are used in condenser and heat exchanger tubes, piping, pumps, in Europe, Switzerland pioneered the nickel billon coinage in 1850, with the addition of silver. In 1968, Switzerland adopted the far cheaper 75,25 copper to nickel ratio being used by the Belgians, the United States, and Germany. From 1947 to 2012, all “silver” coinage in the UK was made from cupronickel, prior to these dates, both denominations had been made only in silver in the United States. Cupronickel is the cladding on either side of United States half-dollars since 1971, some circulating coins, such as the United States Jefferson nickel, the Swiss franc, and the South Korean 500 and 100 won are made of solid cupronickel.
Single-core thermocouple cables use a single pair of thermocouple conductors such as iron-constantan. These have the element of constantan or nickel-chromium alloy within a sheath of copper. Cupronickel is used in cryogenic applications, beginning around the turn of the 20th century, bullet jackets were commonly made from this material. It was soon replaced with gilding metal to reduce fouling in the bore. Currently, cupronickel remains the basic material for silver-plated cutlery and it is commonly used for mechanical and electrical equipment, medical equipment, jewelry items, and as material for strings for string instruments. Fender Musical Instruments used CuNiFe magnets in their Wide Range Humbucker pickup for various Telecaster and Starcaster guitars during the 1970s, for high-quality cylinder locks and locking systems, cylinder cores are made from wear-resistant cupronickel
Central Bank of Venezuela
The Central Bank of Venezuela is the central bank of Venezuela. It maintains an exchange rate for the Venezuelan bolívar. Nelson Merentes is the President of the Central Bank of Venezuela, Merentes is a representative of Venezuela for the International Monetary Fund. The currency exchange system in Venezuela is known as the Ancillary Foreign Currency Administration System or Sicad, the Central Bank is able to issue bonds through the SITME market. In 2012, it was reported that $44 million worth of bonds were purchased through SITME in a day for Petroleos de Venezuela SA. Payment system Real-time gross settlement Official site, Banco Central de Venezuela