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50 Bolívares Central Bank
| Issuer | Banco Central de Venezuela |
|---|---|
| Year | 2010 |
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| Composition | Log in to see details |
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| Technique | Milled |
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| Obverse description | The central field bears a large stylized commemorative monogram featuring the numeral '70' in bold relief, symbolizing the 70th anniversary of the Banco Central de Venezuela, with the word 'ANIVERSARIO' inscribed below. The institutional acronym 'BCV' appears within a rectangular cartouche beneath the anniversary numeral, flanked by the founding and issue years '1940 - 2010' in the lower field. The upper legend 'BANCO CENTRAL DE VENEZUELA' arcs around the inner circle along the periphery, while the date '2010' is positioned in the exergue at the base. The design is executed against a smooth, mirror-polished proof field. |
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| Reverse script | Latin |
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| Additional information |
Venezuela began issuing these gold 50 Bolívares pieces in 2010 under the Bolívar Fuerte monetary system, itself introduced in 2008 to lop three zeros off the original bolívar amid chronic inflation. The irony is considerable: a nation whose economy was already deteriorating under currency controls chose to produce a .999 fine gold coin that virtually no ordinary Venezuelan would ever handle.
The Banco Central de Venezuela held one of Latin America's largest gold reserves at the time, much of it repatriated by Chávez from European vaults in 2011.