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2 Bolivares 2018 Issue P101 |
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Venezuela, Banco Central
2 Bolívares 2018 - Printer: CMV |
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PMG 67 EPQ |
| Cert #: |
8077102-067
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Owner Comments
The front of the note shows a portrait of Josefa Camejo. She was born in 1791 to a wealthy family and attended school in Coro before going to study in Caracas. There she became involved in the independence movement.
In 1811, at 20 years of age, she moved to live in Barinas with her mother and her uncle, Monsignor Mariano de Talavera y Garcés, who was secretary of the Patriotic Society of Mérida and who had great influence on the education of his niece. There, before the offensive of the Royalists, and encouraged by her uncle, Camejo gathered a large group of women who wanted to participate in the armed struggle, and asked the governor of the Province, Pedro Briceño del Pumar, to have them for the fight, assuring him that: “The female sex, Mr. Governor, does not fear the horrors of war, but rather, the outbreak of the cannon will only encourage, its fire will ignite the desire for freedom, which it will sustain at all costs in gift of the homeland.”
In 1813, she married Juan Nepomuceno Briceño Méndez, who had to flee to Bogotá because of a Royalist advance. Her first son, Wenceslao, was born there. She was in charge of vacating Barinas, successfully driving the entire caravan to its destination, but her mother drowned on the voyage. She remained in Bogotá until the battle of Boyacá in 1819. That victory allowed her to return and reunite with her husband. In 1820, her uncle Mariano ordered her to stop the Paraguaná Insurrection. In 1821 she provoked the so-called Revolution of Paraguaná which, although having been defeated at the first stage, finally led to the independence declaration of Coro. It was also an encouraging sign for the following Battle of Carabobo, which represented the last core battle on the way to Venezuelan independence in 1821.
She lived until July 1862 and died at the age of 71. I am having a hard time finding out anything about the 41 years of her life after 1821 - most of her life. Her remains are in National Pantheon of Venezuela, honored as one of the great heroines of the war for independence.
The back of the note features a yellow-crowned amazon or yellow-crowned parrot (Amazona ochrocephala) - a species of parrot native to tropical South America, Panama and Trinidad and Tobago. Their range covers most of the Norther half of South America. They have a total length of 33–38 cm and mostly green plumage with yellow and red bits and blue feather tips. They are normally found in pairs or small flocks up to 30, but larger groups may gather at clay licks. Their food includes fruits, nuts, seeds and berries. Foods with sugar and a large amount of salt can be dangerous for them. They nest in hollows in trees, palms or termitariums, where they lay two to three eggs. The incubation time is about 26 days and the chicks leave the nest about 60 days from hatching.
The Morrocoy National Park is also on the back of the note, in the background of the artwork. The park is a coastal park on the Western side of the Northern Coast of the country - you have to travel about 200 km from Caracas to get to it. The park extends contains an area of mangroves and numerous islets / cays. it is believed to be home to about 266 bird species and several other endangered species - including the turtles featured on other recent Venezuelan notes.
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5 Bolivares 2018 Issue P102 |
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Venezuela, Banco Central
5 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8083349-039
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Owner Comments
The front of this not features Jose Felix Ribas. He came from a wealthy family - the last of 11 sons - and at the age of 21 married the aunt of Simon Bolivar. He became revolutionary and pro-independence, joining the Conspiracy of 1808 and landing in prison for it when it failed. He lied in his defense and claimed he was just going to the square to spend time when he went to join others working on planning an uprising.
Despite having no military background, Ribas was named Colonel of the Barlovento Battalion - which he helped set up with his own money. He also maintained some contact with Francisco de Miranda and offered him all possible support when Miranda arrived in the country. Along with other fellow Republicans, he became a member of the Sociedad Patriótica organized by Francisco de Miranda, in contradistinction to the New Venezuelan Congress which was ruled mostly by the landed few. The Sociedad Patriótica was modeled after a French Jacobin Club, encouraging the practice of oratory on equality of rights to all citizens.
He led the battle of La Victoria (12 February 1814) in which he and his comrades succeeded in foiling the advance royalist forces. Ribas won by holding out with inexperienced troops - composed mainly of youths, students, and seminary candidates that Ribas had succeeded in recruiting - until Republican reinforcements arrived under Vincente Campo Elias. Ribas told his young soldiers, "We have no choice between victory or death, we must achieve victory" ("No podemos optar entre vencer o morir, es necesario vencer"). It is in honor of this episode of Venezuelan history that modern Venezuelan citizens now celebrate the "Día de la Juventud" ("Day of Youth"), each 12 February.
The back of this note features an Atelopus cruciger with the Henri Pittier National Park in the background.
Atelopus cruciger is also known as the “Veragua Stubfoot Toad” or “Rancho Grande Harlequin Frog” and locally known as sapito rayado (“Scratched Toad”). It is native to Venezuela and was thought to have been extinct - in spite of a major conservation effort - because none had been found since 1986 - the year I was born. However, a small population was found in 2003 - and they live in Henri Pittier National Park, the park in the background of this image. It is mainly threatened by chytridiomycosis - an infectious disease in amphibians, caused by the chytrid fungi. This sets them apart from most of the other species on these modern Venezuelan notes in that they aren’t primarily threatened by human action - though some seem to believe that acid rain and air pollution could also be playing a role in their decline.
In fairness, adult males are only 28-35 mm and adult females are only 40-50 mm… so it seems like they’d be easy to miss. They mostly eat small insects.
Henri Pittier National Park is the oldest national park in Venezuela, originally created in 1937 under the name of Rancho Grande by decree of President Eleazar López Contreras. In 1953 the park was renamed in honor of Henri Pittier, a distinguished Swiss geographer, botanist and ethnologist, who arrived in Venezuela in 1917, classified more than 30,000 plants in the country and devoted many years to studying the flora and fauna in the park. It is, as with so many other national parks featured on these notes, on the North-Central coastline and not terribly far from Caracas. It was originally a 90,000-hectare park, but in 1974 the government appended another 17,800 hectares, resulting in a current area of 107,800 hectares. It consists of two geographic systems: a steep mountainous interior where there are more than 500 bird species and 22 endemic species and a coastal area with bays, beaches and resorts with huge tourism potential. It is an Important Bird Area. and is an Alliance for Zero Extinction (AZE) site. With its nine major rivers, the park is also an important source of water for surrounding cities and towns and contains land where some of the best cacao in the world is cultivated.
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10 Bolivares 2018 Issue P103 |
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Venezuela, Banco Central
10 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8083261-008
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Owner Comments
The front of this note has an image of Rafael Urdaneta. Prior to the independence war, he was a student of Latin and philosophy. He traveled to Sante Fe at the encouragement of his uncle in 1804. When a junta formed in Santa Fe in 1810 he joined and became a lieutenant in the first battalion of the “patriot army of New Granado. He was captured after the battle of Santa Fe in 1813 and spent several months in prison after that. He then became part of Bolivar’s “Admirable Campaign” and Bolivar later described him as “worthy of recommendation and deserving of all esteem from the government for the valor and intelligence with which he distinguished himself in action.”
After that he lead many military actions for the patriots but did not fight in the battle of Carabobo - which he helped set the stage for - because Bolivar judged that his troops were too exhausted to fight. Bolivar requested that he be promoted to “General Officer” and, after the battle and with Venezuela independent, he became one of Bolivar’s closest friends.
He married Dolores Vargas París, a young and renowned heroine of the city of Santa Fe, on August 31, 1822. Before Gran Colombia was dissolved in 1831, the marriage and the couple were popular. However, following the dissolution and the establishment of a dictatorship in the Republic of New Granada, they were forced to flee the country. They fled to Venezuela and suffered persecution from General Páez, who had become one of Simon Bolívar's ideological adversaries after the end of the Venezuelan War of Independence. Urdaneta and Dolores had been supporters of Bolívar's, so they were forced to flee again, this time to Curaçao.
They were able to return to Caracas in 1832 through a license granted by the government of Venezuela -but it stipulated that Urdaneta was not to intervene in the politics of the country. The family moved to Santa Ana de Coro, where a revolt erupted against the government. Urdaneta was able to use this to get back into Venezuelan politics and he was eventually able to retain a position as a senator until 1845.
In 1845, he was appointed Envoy of Venezuela to Spain, but he died in Paris, France, on August 23rd, 1845 from complications from kidney stones before he ever reached Spain.
Urdaneta is buried in the National Pantheon of Venezuela since May 16, 1876. In 2015, the 24th of October was decreed as a national holiday in Venezuela to commemorate him. I’d be tempted to say some of this (him being on this note and the national holiday) was the result of his association with Bolivar and Chavez’s obsession with Bolivar, but Chavez died in 2013, the holiday was declared in 2015 and this note did not release until 2018.
The back of this note shows a giant anteater (Myrmecophaga tridactyla) - also known as the ant bear - with the Catatumbo lightning in the background.
The giant anteater is listed as vulnerable by the International Union for Conservation of Nature and has been eliminated from many parts of its former range. Threats to its survival include habitat destruction, fire, and poaching for fur and bushmeat. With its distinctive appearance and habits, the anteater has been featured in pre-Columbian myths and folktales, as well as modern popular culture.
The Catatumbo lightning is an atmospheric phenomenon that occurs over the mouth of the Catatumbo River where it empties into Lake Maracaibo in Venezuela. It comes from a mass of storm clouds at an altitude of more than 1 km, and occurs about 140 to 160 nights a year, for nine hours a day, and with lightning striking 16 to 40 times per minute.
Italian geographer Agustin Codazzi described it in 1841 as "like a continuous lightning, and its position such that, located almost on the meridian of the mouth of the lake, it directs the navigators as a lighthouse" and the phenomenon has been known for centuries now as the "Lighthouse of Maracaibo", since it is visible for miles around the lake, It did not occur from January to March 2010, apparently due to drought. It has been known to vary in frequency through the year and from year to year, but this “dry spell” lead to speculation and concern that it might have been extinguished permanently. This is an interesting choice in that it features a weather phenomenon - though admittedly one tied to a very specific location - and not a national park.
The storms are thought to be the result of winds blowing across Lake Maracaibo and the surrounding swampy plains. The heat and moisture collected across the plains create electrical charges and, as the air masses are destabilized by the mountain ridges, result in thunderstorm activity and nearly continuous lightning - mostly in the clouds.
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20 Bolivares 2018 Issue P104 |
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Venezuela, Banco Central
20 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 66 EPQ |
| Cert #: |
1963232-047
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Owner Comments
The front of this note shows a portrait of Simón Rodríguez - which appears to be essentially the same art as used for the VEN98, 10 000 BsF note from 2016. Even the coloring of this note is very similar to the VEN98 - I guess just to add to the confusion. Check the description on VEN98 for some biographical information on him.
Where this note starts to depart more from the VEN98 is the back, where it instead features a Jaguar (Panthera onca) with the Waraira Repano National Park in the background.
The Jaguar is the only extant species of the genus Panthera that is native to the Americas (the Cougar is a Puma species and the Bobcat is a Lynx). Its coat features pale yellow to tan colored fur covered by spots that transition to darker rosettes on the sides. It is the largest cat species in the Americas and the third largest in the world with a body length that can reach up to about 6 ft. Its jaws can bite through turtle shells and it can bite through / crush the skulls of smaller mammals. The species ranges from Arizona to Northern Argentina, even though it has mostly disappeared North of the Yucatan Peninsula and its historical range used to extend well into Argentina. The species is considered an “opportunistic”, “stalk-and-ambush” apex predator and a ecosystem stabilizing keystone species.
It has been considered “near threatened” since 2002 on the IUCN Red List due to habitat loss, habitat fragmentation and poaching. So, it seems less threatened / endangered than most of the other animals featured on these notes in the last 20 years, but it probably earns a place on a note because the Jaguar features prominently in the mythology of many indigenous peoples in South and Central America, including the Maya and the Aztecs - and the Chavez led government has liked playing up that pre-Spanish history.
In pre-Columbian America the Jaguar was a symbol of power and strength. The Olmecs had “were-jaguar” motifs in the Yucatan. The Mayans believed that the jaguar could facilitate communication with the dead. They protected the royal household, and they were kept as pets. The Aztecs considered the jaguar a totem animal of the deity Tezcatlipoca, had an elite class of warriors known as Jaguar Warriors and used the jaguar as a representation of the ruler.
The “Waraira Repano National Park” / “Avila National Park” - which is also on VEN107 - protects part of the Cordillera de la Costa Central Mountain Range, in the Central-Northern coastal region of Venezuela. Cerro El Ávila, a peak in this range and in this national park, marks the north of Caracas and serves as a navigational aide for people and is also featured on VEN99 and VEN100. The Park is called “el pulmon de la ciudad” (“the lungs of the city”). The peak is home to the longest cable car ride in the world and supports recreational activities like running, biking, rock climbing, camping, and zip-lining. There are several hotels and restaurants situated in the surrounding hills and ever December a large crucifix high up the mountain that faces the city - called “Cruz de Navidad” - is lit-up and can be seen from “very far distances.”
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50 Bolivares 2018 Issue P105 |
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Venezuela, Banco Central
50 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8083261-009
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Owner Comments
The front of this note features a portrait of Antonio Jose de Sucre - known as "Gran Mariscal de Ayacucho" ("Grand Marshal of Ayacucho"), the 4th President of Peru and the 2nd President of Bolivia - which he played a role in helping to create as an independent state. Sucre was one of Simón Bolívar's closest friends, and generals - but how many people can say they were the president of two countries?
Sucre was killed on June 4, 1830 by a group of 5 assassins. He actually died falling from his hose after the horse was shot in the neck during the ambush. General Juan José Flores wanted to separate the “southern departments,” called the District of Ecuador, from Gran Colombia to form an independent country and become its first President. Flores foresaw that if Antonio José de Sucre arrived in Quito from Bogota, he could thwart his plans, because Sucre was very popular as hero and leader in the Battles of Pichincha, Tarqui and Ayacucho.
Flores contacted the anti-Bolívar and anti-Sucre leader Brigadier-General José María Obando, who was not present at Sucre's death, but he gave the orders. Commander Juan Gregorio Sarria, José Erazo, and three accomplices. They ambushed José Antonio de Sucre on the morning of June 4, 1830, in the forested district of Berruecos, along a narrow path that was perennially covered with fog. There was a painting made of the scene of his death later by Arturo Michelena. Some of the men involved in this were also involved in a plan to kill Bolivar that failed. I think all of this helps give him some “martyr for the cause” cred with people like Chavez.
He is buried in Quito, Ecuador, with his wife, consistent with his wishes.
The back of this note features a “Cunaguaro” (Leopardus tigrinus), aka an “Oncilla” - a close relative of the ocelot - with the Península de Paria National Park in the background.
Leopardus tigrinus - the little spotted cat or little tiger cate - is found primarily in South America with small populations interspersed in Central America. It can be found as far north as Costa Rica and as far south as the northern tip of Argentina. They can survive in a wide range of ecosystems and elevations, from savannas and grasslands to rainforests. They are considered “vulnerable” on the IUCN Red List.
They are one of the smallest wild cats in South America and are only about 1.5 to 3.0 Kg. They are only about 38-59 centimeters long. So… little spotted cat, indeed! They are often mistaken for small ocelots and margays because they are similar in appearance… just smaller (Ocelots are up to 15.5 kg).
This national park was established in 1978 to protect the unique peninsula section of the Venezuelan Coastal Range, whose flora and fauna are characteristic of the Venezuelan Guiana. The park is located between the Gulf of Paria and the Caribbean Sea on the Northwestern coastal area of Venezuela. The main rivers with headwaters in the range within the park are the Macuro, Yacua, Río Oscuro, Río Grande, El Mapire, and Ceiba. All flow into the Gulf of Paria south of the park and peninsula.
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100 Bolivares 2018 Issue P106 |
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Venezuela, Banco Central
100 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8072677-062
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Owner Comments
The front of this image features a portrait of Ezequiel Zamora. Consistent with many of the other men on notes in this series he was a soldier but not a hero of the war for independence like many of the others on this series of notes. He was born in 1817 and grew up in the midst of the wars for independence from Spain in South America. Rather, he’s a hero of the “Federal War” from 1859-1863. The Federal War, or Great War in Venezuela, was a Venezuelan Civil War. - which was going on right around the time the US was fighting the US Civil War, far to the north. It was between Conservatives and Liberals over Conservative control of the government and land and their refusal to engage in reforms. This led Liberalist to want greater autonomy for provinces - a federalist system, similar to what the US uses. Zamora was a Federalist and a Liberal.
Unlike many others in this series he was born to landowning parents of only modest means and received only a primary level formal education in Caracas. His education in politics, philosophy, and law came later with the help of his brother-in-law John Caspers and a friendship with the lawyer Jose Manuel Garcia.
Before the Federal War he ran for office but was blocked by means he and his supporters called fruduent and illegal. He was then a part of the “1846 Peasant Insurrection” - which broke out in the aftermath of the “fraudulent” election. The people who started calling him "General of the Sovereign People" used essential slogans like "land and free men," "respect the peasant" and "disappearance of the Goths." Zamora was sentenced to death by the courts of Villa de Cura on 27 July of the same year, but José Tadeo Monagas cut the sentence down to 10 years in prison. He escaped from the Ottawa Prison on the way to Maracaibo Prison, and worked farm laborer. The following year, he was pardoned. Since this was also a result of strife between the liberals and conservatives this peasant insurrection sounds like precursor to the Federal War in much the same way that “Bleeding Kansas” (1854-1859) was a precursor to the US Civil War.
The Federal War cost 100,000 lives through violence, hunger, and disease - in a country that at the time only had about 1 million people at the outset. Zamora was one of those lives. After several victories in 1859, he was shot in the head in January 1860, trying to take the town square in San Carlos on his way to Caracas. Some have claimed he was shot by his own side. His death is thought to have reversed the direction of the war and lead to a Federalist defeat.
The back of this note has a Brown spider monkey (Ateles hybridus) with the Guatopo National Park in the background. The Brown spider monkey is a critically endangered new world monkey native to Northern Colombia and Northwest Venezuela. They weigh about 7.5 to 9 kg (up to 20 lbs) and have prehensile tails that can be 75 cm long and act like a 5th limb. They mostly stay up in trees and forage in high canopies of primary forests. Their population has declined by at least 80% with estimated habitat loss at 98% and few of the remaining populations are thought to have the size for long term viability.
Guatopo National Park is another park near the North-Central coastline of Venezuela, not far from Caracas. The land was declared a national park in 1958 and expropriated by the Venezuelan government.
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200 Bolivares 2018 Issue P107 |
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Venezuela, Banco Central
200 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8083261-015
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Owner Comments
The front of this note features an image of an older Francisco de Miranda. A portrait of a younger Miranda was used on the VEN88 and VEN94 of the 1st and 2nd Bolivares Fuertes series (2 BsF and 500 BsF). Check the description on VEN94 for some biographical information on him.
The back of this note features a “Military macaw” (Ara militaris) with the Waraira Repano National Park in the background.
The military macaw is a large parrot / medium-sized macaw that gets its name from the green color that dominates most of its plumage and makes it look a little like it is wearing a military parade uniform - at least, it did to whoever named it. The bird looks like a big parrot to me. It is native to the forests of Mexico and South America and is considered “vulnerable” in the wild, but it is common in the pet trade industry. Its range seems mostly confined to the Western coastline of the Americas, from Northern Mexico to the Southern-most part of South America, with the heaviest concentrations in Northwest South America - including Venezuela. There are 3 sub-species of military macaw with A. m. militaris in northern South America, A. m. mexicana in Mexico and A. m. boliviana in Bolivia and Argentina.
This macaw is usually 70-85 cm long with typical wingspans in the range of 100-110 cm. These birds live in large flocks and can live for 50-60 years in the wild - which I imagine would make them desirable as long-lived pets.
The “Waraira Repano National Park” / “Avila National Park” - which is also on VEN104 - protects part of the Cordillera de la Costa Central Mountain Range, in the Central-Northern coastal region of Venezuela. Cerro El Ávila, a peak in this range and in this national park, marks the north of Caracas and serves as a navigational aide for people and is also featured on VEN99 and VEN100. The Park is called “el pulmon de la ciudad” (“the lungs of the city”). The peak is home to the longest cable car ride in the world and supports recreational activities like running, biking, rock climbing, camping, and zip-lining. There are several hotels and restaurants situated in the surrounding hills and ever December a large crucifix high up the mountain that faces the city - called “Cruz de Navidad” - is lit-up and can be seen from “very far distances.”
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500 Bolivares 2018 Issue P108 |
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Venezuela, Banco Central
500 Bolívares 2018 - Printer: CMV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8081502-011
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Owner Comments
The front of this note features a portrait of Simon Bolivar - not the same one that was used on the P-93, P-99, and P-100 notes. Whenever a new, larger, 6 to 8 note series comes out Bolivar is consistently on the final and highest denomination of the series. Whenever there is a shorter 1-3 note series release, he is usually on all of them. So, he is featured on VEN93, VEN99, VEN100, VEN108 (this note), and VEN110-VEN114 (two 3-note series released in 2019 and 2021). There is more information on Bolivar’s life in my description for VEN99 and there’s more information of his (multiple) burial / grave site(s) in the description for VEN111 - one of which appears on VEN109-VEN111.
The back of the note shows a Venezuelan troupial (Icterus icterus) with Macarao National Park in the background. The Venezuelan troupial (Icterus icterus) is the national bird of Venezuela - which makes it a little surprising that it did not show up on these notes sooner than this / on earlier issues in the Fuertes and Soberanos series. It is found in Colombia, Venezuela, and the Caribbean islands of Aruba, Curaçao, Bonaire, and Puerto Rico. Previously part of a superspecies simply named the troupial, it was recently split-off with the orange-backed troupial and Campo troupial. The term troupial is from French troupiale, from troupe (“troop”), so named because they live in flocks. The birds are fairly large in size, with a long tail and a bulky bill. They have a black head and upper breast. The tail and wings are mostly white and black, and the rest of the bird is mostly this orange-gold color. They inhabit dry areas like woodlands, forest, dry scrub, plains, and open savanna. They forage for insects, a wide variety of fruit, small birds and eggs. They are nest pirates that take over vacant nests or force other birds out of nests rather than making their own and breed from March to September.
Macarao National Park was declared a national park in 1973. It covers about 15,000 hectares (150 square km), right on the north-central coast of the country. It contributes to meeting the drinking water needs of the City of Caracas. It is very mountainous, seems to have a lot of woods, and supports scientific and educational excursions - but it does not seem to have the status as a tourist attraction and get-away spot as other national parks featured on these notes. It is good to have respect for where your drinking water comes from though.
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10,000 Bolivares Soberanos 2019 Issue P109 |
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Venezuela, Banco Central
10,000 Bolívares 2019 - Wmk: S. Bolívar & BCV |
| Grade: |
PMG 67 EPQ |
| Cert #: |
8085076-074
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Owner Comments
A new series of BsS notes was released in Jun 2019, but the 2019 series contained only three new notes. In a move similar to what was seen in Zimbabwe at the end of 2008, the severity of the hyperinflation caused the central bank to “Skip ahead,” and bypass several denominations that would have seemed logical / that you normally would have expected to see in this series. So, there is no Bs.S 1000, or 2000, or 5000. They skipped right to 10000 BsS with the P-109, 20000 BsS with the P-110, and 50000 BsS with the P-111.
In Jan 2019, the Permanent Council of the Organization of American States (OAS) approved a resolution "to not recognize the legitimacy of Nicolas Maduro's new term as of the 10th of January of 2019," while the United Nations General Assembly formally recognized the Maduro government as the only legitimate representative of Venezuela at the United Nations. In August 2019, United States President Donald Trump signed an executive order to impose a total economic embargo against Venezuela.
In October 2019, Venezuela was elected to the United Nations Human Rights Council. Then, in June 2020, a report by the Robert F. Kennedy Human Rights Organization documented enforced disappearances in Venezuela that occurred in the years 2018 and 2019. During the period, 724 enforced disappearances of political detainees were reported - with Venezuelan security forces subjecting victims, who had been “disappeared,” to illegal interrogation processes, torture and cruel or inhuman treatment. The government used these enforced disappearances to silence political opponents and other critical voices it deemed a threat.
At the time it was announced and released to circulation in Jun 2019, this note was worth about US$2, with the Bolivar Soberano worth about one fifth of an American cent (USS1 : 500 BsS).
It really is scary just how much all of this “rhymes” historically with what happened in Zimbabwe… the first redenomination was 1000:1, the 2nd redenomination was bigger than the first, the last letter of the ISO currency code changed every time…
When the new notes were released in 2019, the Central Bank of Venezuela did not mention inflation at all. They laughably claimed that the new banknotes would "complement and optimize" the monetary system and that their purpose was to make payment systems "more efficient" Who can make this stuff up?
According to xe.com, on 23 April 2020, 1 USD was equal to 144697 VES. On 24 April 2020, it was 1 USD : 171140 VES. By Aug 2020, the 50000 BsS note was worth US$0.15. Accordingly, in March 2021, it was announced that there would soon be 200 000 VES, 500 000 VES, and 1 000 000 VES notes.
The front of these notes all features the same portrait of Simon Bolivar that has been used so much at this point on VEN108. It would be used AGAIN in 2021 for VEN112 through VEN114 - that’s 7 denominations in a row with essentially the same front design, albeit in different colors. The back of these notes shows the "Mausoleum of the Liberator" Simón Bolívar - more on that in my description for VEN111.
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20,000 Bolivares Soberanos 2019 Issue P110 |
| Item: |
Venezuela, Banco Central
20,000 Bolívares 2019 - Wmk: S. Bolívar & BCV |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8085076-076
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Owner Comments
I feel like this group of three notes (VEN109, VEN110, and VEN111) has to be the result of someone on the government throwing up their hands in exasperation or desperation, wringing their hands in their hair and saying, "I give up! I cannot deal with this anymore! I do not care. The people do not care! Just put different numbers on them and change the ink cartridge and print up as many as we can afford the ink and paper for!" Either that or some apathetic bureaucrat in a socialist government just shrugged and said, "Eh. Good enough. We need it done and done fast." I think the first is more amusing, but the 2nd is perhaps more likely.
You see the first sign of this with the VEN100 coming right after the VEN99, using the same design - also using Simon Bolivar's portrait, just a different portrait of him - but these three notes, released at the same time as a kind of mini-series, is the money printers finally just completely giving up and surrendering to the madness of currency creation in a time of hyperinflation.
To be fair, while I am bashing how redundant and lazy this approach to note design seems to be, they did change the portrait of him they used and used a new back for the note. The VEN108 did not use the same image on the back that was used on VEN93, VEN99, and VEN100 - they all used an image of a bird, but it was a different image of a different bird. With these 2019 notes they moved away from having a bird on the back completely and went with an image of their fancy new, Mausoleum of the Liberator” - See VEN111 for more on that.
You do not get to see this in quite the same way with the Zimbabwean notes because there was always a greater level of design uniformity there with the Chiremba rocks always featuring so prominently on the front of every note - except the 2nd dollar checks, and even there the rocks were there, just smaller.
At the time it was announced and released to circulation in Jun 2019, this note was worth about US$4, with the Bolivar Soberano worth about one fifth of an American cent (USS1 : 500 BsS).
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| Slot: |
50,000 Bolivares Soberanos 2019 Issue P111 |
| Item: |
Venezuela, Banco Central
50,000 Bolívares 2019 - Wmk: S. Bolívar & BCV |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8086897-024
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Owner Comments
There is a certain dripping irony in these notes, in my opinion. The currency was named the “Bolivar” to honor Simon Bolivar. I think the people who designed these notes put Simon at the end of the run of designs – on the highest denomination in each of the 6-note series of the Bolivar Fuertes notes – out of respect and to show Simon Bolivar in honor. They put him on the 100 Bolivares Fuertes note – it is like putting Benjamin Franklin on the $100 in the US… And now his name and face are all over this fiscal and monetary disgrace. You have to think he would be spinning in his grave to witness it.
Adding to the irony – his grave is on these notes! Well… his latest grave anyway. The “Mausoleum of the Liberator,” is on the back side of the note. What has been done with his remains in the ~190 years since his passing raises the question of whether the Venezuelan government has ever understood the meaning of the phrase, “may he rest in peace.”
Simon Bolivar was originally laid to rest in late 1830 at the Cathedral of Santa Marta - he died in Santa Marta. Twelve years later, in 1842, at the request of President Jose Antonio Paez, his remains were moved to the Cathedral of Caracas. In 1876, 34 years after the first move, his remains were moved again to the National Pantheon of Venezuela - created in the 1870s on the site of the ruined Santísima Trinidad church from 1744 on the northern edge of old Caracas.
The entire central nave is dedicated to Simón Bolívar, with the altar's place taken by his bronze sarcophagus. Lesser national figures are relegated to the aisles. The national pantheon's vault is covered with 1930s paintings depicting scenes from Bolívar's life. A huge crystal chandelier was installed in 1883 on the centennial of Bolivar’s birth.
But… I guess that was not good enough for Hugo Chavez.
After having his remains exhumed for testing in 2011 (see VEN99) Chavez - who was a self-professed super-fan of Bolivar’s - decided that “The Liberator” needed a new resting place “fitting of his glory.” So, the government commissioned a new ~US$100 Million 54 m tall structure, that fans compared to snowy mountains that set the scene for great revolutionary struggles… and critics compared to a giant skateboard ramp. Many criticized the move. Some questioned if this was the right way to honor a national hero - by removing his remains from the company of other national heroes. Others criticized the lack of transparency and openness in the way the new tomb was commissioned, designed, and built.
The Guardian criticized it by calling it a monument to Chavez - not to Bolivar - with some saying that the entire thing was more a statement from and about Chavez than it had anything to do with Bolivar. Some, in turn, have criticized Chavez’s emphasis on national heroes and individuals because it counters the government narrative about history changing as the result of “movements” and “revolutions” and not because of the actions and wills of individuals.
At the time it was announced and released to circulation in Jun 2019, this note was worth about US$10, with the Bolivar Soberano worth about one fifth of an American cent (USS1 : 500 BsS).
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| Slot: |
200,000 Bolivares (ND 2021) P112 |
| Item: |
Venezuela, Banco Central
200,000 Bolívares 2020 (ND 2021) - Printer: CMV |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8090201-006
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Owner Comments
The release of the three new 2021 banknotes was announced on Friday, 5 March 2021. At the time of the announcement, even according to official exchange rates, which are almost always better than black market rates, this note was only worth about US$0.11-0.12.
For the front the 2021 notes are essentially identical to the 2019 notes with the same portrait of Simon Bolivar but with different colors used to make it easier to tell the notes apart. The VEN112 and VEN113 also use the ““Mausoleum of the Liberator” reverse from the 2019 notes. However, the VEN114, the 1 Million Bolivar note, used a new design for the reverse.
A Bloomberg article from February 2020 - just before the start of the pandemic - indicated that Venezuela was ordering 300 million new bills - which would only have a face value of $143 million dollars, for an average face value of only US$0.47 each - from the state-owned money printer of Russia. They had to do this because they had racked up too much debt with De La Rue - one of the world’s largest money printers. I guess De La Rue was not willing to accept payment in the form of banknotes they’d just printed. But I guess the Russians were, for whatever reason.
Why were the Venezuelans now importing paper when previously they had tried to buy notes from a Printer in Russia? Prior to this their bills had been printed by CMV - Casa de la Moneda de Venezuela - their own printer. But then they started running into problems - problems like chronic power outages and not being able to get or afford ink, or paper. Of course, by October 2020 they were also blaming some of it on staffing issues caused by the pandemic. I am sure that didn’t help, but I’m not sure how much it hurt with the other issues already in play.
Articles from October 2020 indicate that, by that point, Venezuela was importing banknote paper from Brazil - 71 tons of security paper from an Italian printer, Fedrigoni. Apparently, this was the last shipment they were obligated to provide under a contract they entered into in 2018, just before the Trump administration-imposed sanctions.
By 2020, the Venezuela economy had been in recession and shrinking for 7 years and it was expected to shrink by another 20% that year, in part because of the pandemic - but I have a feeling it would have been shrinking either way.
Interestingly, both articles from February and October 2020 reference the government looking into a 100,000 BsS note, that would have had the same face value as the last and highest BsF note - but that note was either never released or (more likely) never actually printed, because a 200,000 BsS note was what we (and the people of Venezuela) got instead, with this note following directly behind the P-108, 50,000 BsS note from 2019. Interestingly, from the dates printed on the new notes – with some of them dated September 2020, the international press was speculating about a 100,000 BsS note in October while Venezuela was already printing 200,000 and 500,000 BsS notes and had already decided that 100,000 wasn’t going to cut it.
I think part of what we are seeing here is the homogenization around the portrait of Bolivar and the watermark of Bolivar in action. Using the same design makes it relatively easy to pivot or change what notes your making just by changing the numbers that indicate the denomination and hitting “print.” And there are now 6 consecutive notes / denominations using the same designs on the front and back but with different numbers and colors, and the last 7 consecutive notes have used the same front design and portrait.
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| Slot: |
500,000 Bolivares (ND 2021) P113 |
| Item: |
Venezuela, Banco Central
500,000 Bolívares 2020 (ND 2021) - Printer: CMV |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8087733-085
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Owner Comments
The release of the three new 2021 banknotes was announced on Friday, 5 March 2021. At the time of the announcement, even according to official exchange rates, which are almost always better than black market rates, this note was only worth about US$0.26. While announced & released in 2021, the date was printed in 2020 and dated for September 3, 2020.
For the front the 2021 notes are essentially identical to the 2019 notes with the same portrait of Simon Bolivar but with different colors used to make it easier to tell the notes apart. The VEN112 and VEN113 also use the ““Mausoleum of the Liberator” reverse from the 2019 notes. However, the VEN114, the 1 Million Bolivar note, used a new design for the reverse.
Another interesting thing to come out of news articles dated around February and October 2020 is the fact that Venezuela’s economy - like Zimbabwe before it - had to varying degrees “dollarized.” The US dollar was being used increasingly in domestic transactions instead of the Bolivar Soberano. Unlike in Zimbabwe in 2009, Venezuela has not officially suspended or given up on issuing and using a national currency - yet. I’m wondering if this will ultimately happen – or if they’ll at least have to stop releasing physical paper currency - as they find it harder and harder to source paper and ink or operate their facility with unreliable power. In the mean time, as of 2021, Venezuela seems determined to keep trying a central bank digital currency (CBDC), using block-chain technology.
However, I do think this dollarization shows one of the greater ironies of the names of these currencies - “strong bolivar” and “sovereign bolivar” - an irony I tried to build into the name of this set. That irony being that these currencies were not strong, and their creation was not indicative of strength. Rather, their creation was an acknowledgement of the weakness of the currency and economy and presaged an important loss of sovereignty - the ability to issue a sovereign national currency and base your domestic economy on that.
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| Slot: |
1,000,000 Bolivares (ND 2021) P114 |
| Item: |
Venezuela, Banco Central
1,000,000 Bolívares 2020 (ND 2021) |
| Grade: |
PMG 68 EPQ |
| Cert #: |
8090521-004
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Owner Comments
The release of the three new 2021 banknotes was announced on Friday, 5 March 2021. At the time of the announcement, even according to official exchange rates, which are almost always better than black market rates, this note was only worth about US$0.53.
For the front the 2021 notes are essentially identical to the 2019 notes with the same portrait of Simon Bolivar but with different colors used to make it easier to tell the notes apart. The VEN112 and VEN113 also use the ““Mausoleum of the Liberator” reverse from the 2019 notes. However, the VEN114, the 1 Million Bolivar note, used a new design for the reverse – a design that they later re-used for the new Digital Bolivar notes released starting in late 2021.
The back of the 1 Million Bolivar Note uses this admittedly significant new denomination on a 2021 dated note to commemorate the 200th anniversary of the Battle of Carabobo - the decisive victory of Simon Bolivar's Revolutionary Army over the Spanish Royalist forces, led by Spanish Field Marshal Miguel de la Torre, on the 24th of June. It was not the last fight of that war, but probably the most important in paving the way to the creation of a unified Republic of Gran Columbia - which Venezuela separated from less than 10 years later, in 1830.
The release of this note is one of those times when people are “making history” in the worst possible way. It was the first and, so far, the only time a denomination of 1 Million Bolivares had been used by the BCV. The original VEB notes capped at 50,000 with the VEF capping at 100,000. So, this was the highest denomination they’d ever printed by an order of magnitude – and when they released it, it was barely worth as much in trade as 2 American Quarters. You could almost have them 2 for a dollar.
It was only 5 months later, however, in early August 2021, that information leaked that the BCV was going to try launching a new Central Bank Digital Currency (CBDC), called the “Digital Bolivar, ”and lop off 6 zeros from the VES in the process.
In an oddly... confusingly... the information leased leading up to the move indicated that 5 new banknotes denominated from 5 to 100 “Digital Bolivares.” Supposedly it was going to be a CBDC, but then making a block-chain based digital currency that trades in tandem with physical money seems really odd and like it would kind of defeat the point of a digital currency.
As it turned out, the new currency was not a CBDC – it was just another, normal, fiat currency – and the “digital” just expressed a desire to retire paper money and go cashless. Something that doesn’t seem like it will be possible in the near term given that so many in the county lack bank accounts and smart phones, and the country’s inability to keep the lights on all the time would make relying solely on electronic payments risky business for the average man and woman on the streets.
The move towards the new currency and the new notes and the new redenomination did, however, make this the last note in the VES series, and meant that, for now at least, this will remain the highest denomination the BCV has ever printed. Maybe next time they’ll hit 10 or 100 Million before they hit the reset button again…
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