Bolivia and Bolivian Coins

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Obverse of 1887 Bolivian 20 Cents

Reverse of 1887 Bolivian 20 Cents

Spanish Conquest
Prior to the arrival of the Spanish, much of what is now known as Bolivia was ruled by the Incas, who had themselves driven out the Tiwanaku in the 15th Century. The Spanish arrived in the 1520s, lured by promises of gold and treasure. Over the ensuing years, the Spanish conquered and subdued the Incas and other Amerindians. Although the Spanish never found the legendary city of El Dorado, they did discover large quantities of silver at Potosi, which was used to strike millions of silver dollars and exported around the world as global currency.
Bolivia was originally part of the Viceroyalty of Peru as ‘Upper Peru’. However, in 1776 it was transferred to the jurisdiction of the Viceroyalty of Rio de Plata.

Independence
In 1809, the invasion and occupation of Spain by Napoleonic France weakened Spanish Colonial Authority in South America, and this triggered a series of revolts which continued despite eventual victory over Napoleon. By 1825, the Spanish had been driven out of Upper Peru and it was decided that the former province would be renamed ‘Bolivia’ in honour of Simon Bolivar.

19th Century
Peru and Bolivia initially tried to form a confederation. However, neighbouring states felt threatened by the potential power of such an alliance and a war lasting between 1836 and 1839 fought to break this confederation up. The War of the Pacific of 1879 – 1883 with Chile saw Bolivia lose its access to the sea and Bolivia has been a landlocked country ever since.

20th Century to the Present Day
Bolivia’s mineral wealth afforded the nation a measure of prosperity, but many of its people suffered from appalling conditions in the mines and on the land. The loss of the Chaco War with Paraguay in 1935 led to a rise in discontent with the working and middle classes against the traditional ruling elite of Bolivia, and the Revolutionary Nationalist Movement (known as the MNR) became a force to be reckoned with in Bolivian Politics. In 1952, the MNR achieved power, and set about introducing a series of reforms with the intention of breaking the power of the elites and improving educational opportunities for the poor.
The military overthrew the MNR in 1964 however, and over the subsequent years, Bolivia descended into banana republic status as coups, countercoups, fraudulent elections and military/political strongmen governed and misgoverned the nation until the 1980s, when the transition back to democracy began.

Bolivian Coins
Coinage in Bolivia dates back to the 1570s, when vast silver deposits were discovered in Potosi and a mint constructed there to coin the silver. Spanish Silver Dollars would be struck at Potosi until 1825.
In 1827, the Sol was introduced, replacing the Spanish Reale at par. Silver coins of 1/2, 1, 2, 4 and 8 Soles were struck, in addition to gold scudos (16 Soles) 8 scudos in 1831. 1/2 , 2 and 4 Scudos were introduced in 1834.
In 1864, a new decimal currency, the Boliviano was introduced, worth 8 Soles, and divided into 100 Centavos. High inflation over the next century led to the replacement of this Boliviano with the new Peso Boliviano, which was, after years of hyperinflation, replaced by the New Boliviano at the rate of 1,000,000 to 1! This New Boliviano is the current currency of Bolivia, and coins of 10, 20 and 50 centavos are issued, in addition to 1, 2 and 5 Bolivianos.

For Sale and Wanted
If you are interested in coins from Bolivia please see our product index:-
Bolivian Coins

Gold Coins
We also have gold coins from Bolivia on our taxfreegold website:-
Bolivian Gold Coins