The monetary law of Venezuela replaced the peso currency into the Venezolano on 11th May 1871. Between 1872 and 1879, venezolano was the currency of Venezuela. It was further divided into 100 centavos. The coinage of 1873-1877 marked the establishment of a true, modern national coinage.
The silver coins such as 5, 10, 20, and 50 centavos and 1 venezolano were introduced in 1874. In 1875, 5 venezolanos in gold, 1 and 2½ centavos in cupro-nickel in 1876 were introduced.
These series of coins were the first of a kind in using the effigy of Bolivar. Simon Bolivar was a Venezuelan military and political leader who led the independence war against the Spanish Empire to liberate Venezuela, Bolivia, Colombia, Ecuador, Peru, and Panama. Bolivar is also depicted in opera, literature, film, and other media, and remained part of popular culture in many countries.
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