The Spanish conquistadores gained control oof Bolivia in the 1530s. Bolivia was known as Upper Peru and was part of the Vice Royalty of Peru until 1776 after which it was part of the new viceroyalty of the River Plate. The Bolivian Republic was declared on August 11, 1825. Bolivia was part of the Peru-Bolivian Confederation from October 28, 1836 until February 20, 1839.
Silver from the Potosi mine, discovered in 1545, was used to mint Spanish Escudos (XESE) and other silver coins. The Escudo (Scudo) was divisible into 2 Pesos or 16 Reales (or Soles/Sueldos). The Potosi mint minted coins for Spain from 1574 to 1800. The mint struck silver coins almost exclusively. Gold issues were not struck until 1778. The Potosi mint struck coins for the United Provinces of the River Plate between 1813 and 1815 and for Spanish royalist forces between 1815 and 1825.
After independence, Bolivia issued the Peso (BOE). The first Bolivian coins were issued in 1827. In 1859 the Peso replaced the 8 Sueldo coin. On June 23, 1863 Bolivia introduced the Boliviano (BOL) equal to one Peso and divided into 100 Centavos. The Boliviano was set equal to the French 5 Franc coin. After the 1920s, Bolivia suffered on-going inflation, leading to the imposition of currency controls, multiple exchange rates, and black markets. Bolivia went off the Gold Standard on November 25, 1931.
As a result of this inflation, the Peso (BOP) replaced the Boliviano on January 1, 1963 at the rate of 1 Peso equal to 100 Bolivianos. The new Boliviano (BOB) replaced the Peso on January 1, 1987 at the rate of 1 Boliviano equal to 1,000,000 Pesos. The Mvdol (BOV) is used for indexation purposes and the denomination of certain financial instruments (e.g. treasury bills). The Mvdol is set daily by the Central bank of Bolivia based on the official USD/BOB rate.
Banknotes were issued by the Banco de la Nacion, Banco Nacional and Mercantile Bank until December 31, 1913 when the Banco de la Nacion received the sole right to issue banknotes. The Tesoreria de la Republica de Bolivia issued banknotes from 1902 until 1911, the Banco de la Nacion Boliviana issued banknotes from 1911 until 1929, and the Banco Central de Bolivia issued banknotes from 1929 until today. |
Here is a coin dated 1987 and valued at 1 Boliviana. The obverse features the National Coat or Arms in the center, a star below, and the title Republic of Bolivia along the edge. The reverse depicts the value in the center surrounded by a circle, date below and the title 'La Union Es La Fuerza' along the edge.
- Weight: 5.080g
- Diameter: 26.92mm
- Material: Stainless Steel
- Edge: Plain
- Mint: NA
- Mintage: 10,000,000
- Krause # KM-205
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