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500 Bolívares Oil industry
| Issuer | Banco Central de Venezuela |
|---|---|
| Year | 1975 |
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| Composition | Log in to see details |
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| Diameter | Log in to see details |
| Thickness | 1.82 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Log in to see details |
| Obverse lettering | REPUBLICA DE VENEZUELA 500 BOLIVARES 18 GRAM. 1975 LEY 900 (Translation: Venezuela Republic 500 Bolivares 18 grams 1975 0.900) |
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| Reverse script | Latin |
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| Additional information |
Venezuela's 1975 gold coinage program was tied directly to the nationalization of the oil industry — PDVSA was formally created that same year, consolidating foreign-held concessions under state control following decades of Standard Oil and Shell dominance. The government issued commemorative gold pieces partly as a prestige exercise and partly to absorb petrodollar surplus at a moment when oil revenues were running well ahead of the state's capacity to spend them domestically.
Mintage was low and distribution uneven, with most pieces absorbed by the collector market rather than circulation.