Currency of Venezuela then closed for good (October 1830). copper: silver: Peso (Peso sencillo) = 8 Reales = 100 Centavos or 80 Centavos fuertes Peso fuerte = 10 Reales = 100 Centavos fuertes (from 1832) The currency in 1830 was chaotic. Circulation consisted of old silver macuquina minted at Caracas under both royalists and republicans and of silver and gold coin from the various American states, especially from Colombia. Good quality silver coin tended to disappear from circulation (being used to pay for imports). Macuquina and worn coin remained to serve retail trade. The government published a table December 30, 1830 fixing the
Gold standard Congress on March 3, 1903. Around the same time Mexico and Japan pegged their currencies to the dollar. When Siam adopted a gold exchange standard in 1908, only China and Hong Kong remained on the silver standard. When adopting the gold standard, many European nations changed the name of their currency, for instance from Daler (Sweden and Denmark) or Gulden (Austria-Hungary) to Crown, since the former names were traditionally associated with silver coins and the latter with gold coins. Governments with insufficient tax revenue suspended convertibility repeatedly in the 19th century. The real test, however, came in the form of