Exploring The Value Of Bolivian Coins

Bolivia is a landlocked country in the middle of South America. It is one of the two countries in South America with no access to the open sea. Bolivia has a rich history of coinage, which began in 1573 when coin-making machinery from the Lima mint was taken to Potosí to establish a new mint. The first mint in Potosí began operating in 1574, producing only silver coins of high quality, which quickly made it the main mint of the Spanish Empire and the world. Since then, the country has had several currencies, including the Spanish real, the Bolivian sol, the first boliviano, the peso boliviano, and the second boliviano. Today, the boliviano is the official currency of Bolivia, with 1 boliviano being made up of 100 cents or centavos in Spanish.

Current value of the boliviano

The boliviano is the current currency of Bolivia. It is divided into 100 cents or centavos in Spanish. The boliviano was also the name of the currency of Bolivia between 1864 and 1963. The first boliviano was worth eight soles and was divided into 100 centécimos (later centavos).

The current boliviano was introduced in 1987, replacing the peso boliviano at a rate of one million to one. At that time, 1 new boliviano was roughly equivalent to 1.8-1.9 million pesos.

• 50 centavos (1/2 boliviano) 1873 silver coin: $50-80
• 20 centavos 1870-1871 silver coin: $50-70
• 10 centavos 1870-1871 silver coin: $20-40
• 5 centavos 1871 silver coin: $30-50
• 2 centavos 1878 copper coin: $200-250
• 1 centavo 1878 copper coin: $100-150
• 5 bolivianos 2001 bi-metallic coin: $1-2
• 2 bolivianos 1991 stainless steel coin: $1-2
• 1 boliviano 1997 stainless steel coin: ~$1
• 50 centavos 2008 stainless steel coin: ~$1
• 20 centavos 1987 stainless steel coin: ~$1
• 10 centavos 1987 stainless steel coin: ~$1
• 5 centavos 1987 stainless steel coin: $5-10
• 2 centavos 1987 stainless steel coin: <$1

History of Bolivian currency

The history of Bolivian currency can be traced back to the 16th century when the country was under Spanish colonial rule. During this period, the Spanish real was the primary currency in use, with 8 reales equalling 1 peso and 16 reales equalling 1 escudo. In 1573, the first coins of the Upper Peru region (now Bolivia) were minted in La Plata (present-day Sucre), using machinery from the Lima mint that was being transported to Potosí to establish a new mint. The first mint in Potosí began operations in 1574, specialising in the production of high-quality silver coins, which soon became the standard currency of the Spanish Empire and, indeed, the world.

Following independence from Spain in 1825, Bolivia continued to mint its own coins, introducing the Bolivian sol in 1827. The sol replaced the Spanish real on a one-to-one basis and featured national motifs of the new state, including a bust of Simon Bolivar—Bolivia was the first country to depict the liberator on its currency. During this period, Bolivia also opened mints in La Paz (1853-1859) and Oruro (1849).

In 1864, Bolivia introduced its first official currency, the boliviano, which was worth eight soles or half a scudo. The currency was subdivided into 100 centécimos, later changed to centavos in 1870. The boliviano was initially pegged to the French franc, with an exchange rate of one boliviano to five francs. However, this changed in 1908 when the currency was placed on a gold standard, with 12.5 bolivianos equalling one British pound.

In 1940, multiple exchange rates to the US dollar were established, but the boliviano continued to depreciate. By the early 1960s, Bolivia was facing severe inflation, prompting the government to introduce a new currency, the peso boliviano, in 1963. The peso boliviano was worth 1,000 old bolivianos and used the symbol "$b.". Despite the reform, inflation persisted, and the currency was devalued multiple times over the next two decades.

Finally, in 1986, the peso boliviano was replaced by a new version of the boliviano through Law No. 901. The new boliviano was introduced in 1987 at an exchange rate of one boliviano to one million peso bolivianos. This reform successfully stabilised the currency, with one US dollar being worth approximately one boliviano.

Coins of the first boliviano (1864-1963)

The first boliviano was the currency of Bolivia from 1864 to 1963. It was worth eight soles and was divided into 100 centécimos (later centavos). The name bolivar was used for an amount of ten bolivianos. The first boliviano was introduced following the decimal system's implementation, replacing the Bolivian sol. The boliviano became the monetary unit, equal to five francos of the Latin Monetary Union. The images on the coins changed to feature the national emblem of Bolivia, which began in 1864.

The first boliviano coins were made of copper and silver. The smaller coins were made of copper, while the rest were made of silver. The introduction of the first boliviano coins also marked the end of gold's use in Bolivian coinage.

In terms of specific coin denominations, subunit coins were produced. The monetary reform of 1870 changed the coin design, and the design used today was defined.

The first boliviano was replaced by the peso boliviano in 1963, which was worth 1,000 first bolivianos.

Coins of the peso boliviano (1963-1986)

The peso boliviano was the currency of Bolivia from 1963 to 1986, replacing the first boliviano at a rate of 1 peso boliviano to 1,000 first bolivianos. The peso boliviano was replaced by the second boliviano in 1987 at a rate of 1 second boliviano to 1,000,000 peso bolivianos. This change was due to rampant inflation.

The peso boliviano was introduced during a period of economic nationalism and industrialization in Bolivia. The country's economic growth was based on a state-led development model, with price controls and import substitution industrialization policies. This model led to fiscal deficits, which were financed by the central bank through money creation, causing high inflation.

During the peso boliviano period, the country experienced a boom in tin prices, which was the main export at the time. However, the economy suffered from Dutch disease, with the appreciation of the exchange rate affecting the competitiveness of non-traditional exports.

There were no coins minted for the peso boliviano.

Coins of the second boliviano (1987-present)

The second boliviano was introduced in 1987 at a rate of 1 boliviano to 1 million pesos bolivianos. This was due to rampant inflation in the preceding years. At the time, 1 new boliviano was roughly equivalent to 1.8 or 1.9 million pesos.

In 1988, stainless-steel 2, 5, 10, 20 and 50 centavo coins, and 1 boliviano coins (dated 1987) were introduced. This was followed by the introduction of stainless-steel 2 boliviano coins in 1991. Copper-plated steel 10 centavos were introduced in 1997, and bi-metallic 5 bolivianos in 2001. The 2 and 5 centavo coins are no longer in circulation.

The 2 boliviano coin has been minted in two sizes, with the smaller coin being very similar to the 1 boliviano coin, except that the 2 boliviano coins are undecagonal while the 1 boliviano coins are round. All the coins in Bolivia have the value with the inscription "La union es la Fuerza" ("Union is strength" in Spanish) on the obverse. Older coins feature the coat of arms of Bolivia with the inscription "Republica de Bolivia" (Republic of Bolivia) on the reverse, while newer ones feature the coat of arms with the inscription "Estado Plurinacional de Bolivia" (Plurinational State of Bolivia).

The obverse of the current series of coins features the value and the inscription "La union es la Fuerza", while the reverse features the coat of arms of Bolivia and the inscription "Estado Plurinacional de Bolivia". The current series of coins includes the following denominations: 10, 20, and 50 centavos, and 1, 2, and 5 bolivianos.

Frequently asked questions