Salvadoran peso

Salvadoran Peso

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Salvadoran peso

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Description:
The peso was the currency of El Salvador between 1877 and 1919.

History

The peso replaced the Salvadoran and Central American Republic reales, at a rate of 8 reales = 1 peso. Banknotes were issued from 1877. In 1889, El Salvador decimalized, with the peso subdivided into 100 centavos, and began to issue coins. The peso was initially pegged to the French franc, at a rate of 1 peso = 5 francs. The peso was replaced in 1919 by the colón, at par.

Coins

The first decimal Salvadoran coins were issued in 1889. These were cupro-nickel 1 and 3 centavos. On August 28, 1892, the Salvadoran mint was established and production of silver and gold coins denominated in centavos and pesos began. In addition to copper 1 centavo coins, there were silver 5, 10, 20 and centavos and 1 peso, and gold 2½, 5, 10 and 20 pesos, although the gold coins were only issued in very small numbers. In 1909, bronze ¼ real coins were issued in response to the continued use of the real currency system in parts of the country. Coins for 25 centavos were introduced in 1911. Production of silver coins was suspended in 1914.

Banknotes

The government issued banknotes denominated in pesos in 1877, in denominations of 1, 2, 5, 10, 25, 50, 100 and 500 pesos. Following this, private banks issued notes until after the peso was replaced by the colón. These included the Banco Agricola Comercial, the Banco de Ahuachapam, the Banco de Centro America y Londres, the Banco Industrial del Salvador, the Banco......
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