Currency of Venezuela copper centavos dated 1852 were minted at Birmingham and London. Birmingham Mint Ltd.: Royal Mint, London: Venezolano (Peso) = 10 Reales = 100 Centavos Conversion: 1 venezolano = 5 francos A new monetary law, April 1, 1854, provided for a mint in Caracas to produce a national coinage based on both gold and silver. The gold coins would be: onza, media onza, doblón (1/4 onza), escudo (1/8 onza), and venezolano de oro (1/16 onza or peso de oro). Silver coins were: peso fuerte or venezolano de plata, medio peso, peseta (1/4 peso), real (1/8 peso), and medio real (1/16 peso).
Currency money or book money, which are fiat money. Currency money Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. Currency money is usually made of silver or gold, but in very rare cases plated metal and even copper may be used. Currency money is commodity money, as opposed to coins whose metal value is less than