Currency of Venezuela at the Royal Mint, London: Franco = 2 Reales = 20 Centavos Peso = 5 Francos = 10 Reales = 100 Centavos The monetary law of March 30, 1848 established the French franc ("franco frances"), 5·00 g, 0·900 fine, as the monetary unit of Venezuela. No detailed explanation was provided—presumably, the new government wanted to make a clean break with the policies of the conservative oligarchy ("Oligarquía Conservadora", 1830–1848) that it replaced. A table of coin ratings expressed in francos was published, and the Franco was declared equal to 20-centavos of the copper coins authorized between 1834 and 1842. Liberty-head
Currency of Venezuela Union system, based on the silver fuerte (venezolano de plata) of 25·000 g, 0·900 fine, and the gold venezolano of 1·6129 g, 0·900 fine. The 20-venezolano gold piece was named the "Bolívar". Coins were ordered from Paris; foreign coin was to remain in circulation until they arrived. New ratings were published July 2. From January 1, 1872 all accounts had to be converted and expressed in venezolanos and centavos. On February 13, 1874 the circulation of coin worn on both sides was prohibited and a new table of ratings for foreign coin was published. When the coinage of 1873–1874 was