Costa Rican peso Costa Rican peso The peso was the currency of Costa Rica between 1850 and 1896. It was initially subdivided into 8 "reales" and circulated alongside the earlier currency, the real, until 1864, when Costa Rica decimalized and the peso was subdivided into 100 "centavos". The peso was replaced by the colón at par in 1896 In 1850, silver coins were issued in denominations of , ⅛ and ¼ peso. In 1864, silver coins were introduced in denominations of 25 centavos and 1 peso. These were followed the next year by cupro-nickel ¼ and 1 centavos and silver 5, 10 and
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