Finance:Ecuadorian centavo coins

From HandWiki
Short description: Currency used alongside the U.S. Dollar in Ecuador
Ecuadorian centavo
centavo de dólar de Ecuador (Spanish)
ISO 4217
Codenone (numeric: )
not a separate currency; uses USD instead
Subunit0.01
Unit
Symbol¢‎
Denominations
Superunit
 100United States dollar
Banknotesnone issued1
Coins1, 5, 10, 25, 50 centavos
Demographics
User(s) Ecuador
(alongside the United States dollar )
Issuance
Central bankBanco Central del Ecuador
 Websitewww.bce.fin.ec
Valuation
Pegged withUnited States dollar (at 1:100 ratio)
1 Ecuador also uses United States dollar notes and the dollar coin.

Ecuadorian centavo coins were introduced in 2000 when Ecuador converted its currency from the sucre to the United States dollar .[1] The coins are in denominations of 1, 5, 10, 25 and 50 centavos and are identical in size and value to their U.S. cent counterparts (although the U.S. 50-cent coin counterpart is not often seen in circulation). They circulate within Ecuador alongside coins and banknotes from the United States .[1] Although U.S. $1 coins are rarely used in the U.S., they are commonly used in Ecuador. Ecuador managed to introduce a $1 coin (un sucre)[2] but finally decided to not release in common circulation, only in 2000 coin sets. Ecuador does not issue any banknotes, relying on U.S. issues.

Description

Ecuadorian centavos bear the numeric value along with the value spelled out in Spanish, and the legend of the Banco Central del Ecuador; the reverse is printed with the portrait and name of a notable Ecuadorian, the legend "República del Ecuador" and the country's coat of arms. The exception is the one-cent coin, which rather than bearing a portrait, is printed with a map of the Americas and bears the legend "Luz de América" ("Light of the Americas"). Coins bear the date Año 20xx, beginning in 2000; the largest proportion of coins in circulation are from the 2000 minting. With the exception of the one-cent coin, the coins are nickel-plated steel; the "un centavo" coin is generally brass-plated steel although a few were struck in copper-plated steel. The coins are minted by the Royal Canadian Mint[3] and the Casa de Moneda de México.[4]

Ecuadorian centavo coin series[5]
Image Value Technical parameters Description Date of
Diameter Thickness Mass Composition Edge Obverse Reverse issue withdrawal 250px 1 centavo 19 mm 1.25 mm 2.5-2.55 g Brass Plain "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", stylized image of the globe with the equator passing through Ecuador and rays emanating from Ecuador, legend "LUZ DE AMERICA" (Spanish for Light of the Americas) 10 September 2000 Current 125px125px 1 centavo 19 mm 1.45 mm 2.35 g Copper-plated steel Plain "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", stylized image of the globe showing the Americas with the equator passing through Ecuador and rays emanating from Ecuador, legend "LUZ DE AMERICA" (Spanish for Light of the Americas) 2003 Current 250px 5 centavos 21.2 mm 1.9 mm 4.95 g Stainless steel Plain "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", portrait and name of Juan Montalvo, national coat of arms 10 September 2000 Current 250px 10 centavos 17.9 mm 1.3 mm 2.3 g Stainless steel Reeded "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", portrait and name of Eugenio Espejo, national coat of arms 10 September 2000 Current 250px 25 centavos 24.2 mm 1.75 mm 5.8 g Stainless steel Reeded "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", portrait and name of José Joaquín de Olmedo, national coat of arms 10 September 2000 Current 250px 50 centavos 30.6 mm 2.1 mm 11.25 g Stainless steel Reeded "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", portrait and name of Eloy Alfaro, national coat of arms 10 September 2000 Current

The Central Bank of Ecuador also produced a commemorative $1 (un sucre) coin for official 2000 mint sets. It was never released for circulation.

Ecuadorian un sucre coin[2]
Image Value Technical parameters Description Date of
Diameter Thickness Mass Composition Edge Obverse Reverse issue withdrawal 250px 1 sucre 30.5 mm 2.2 mm 11.25 g Nickel-clad steel Reeded "BANCO CENTRAL DEL ECUADOR", year of minting, denomination in digits and words "REPUBLICA DEL ECUADOR", portrait and name of Antonio José de Sucre, national coat of arms 2000 (official mint sets only) Never in circulation

See also

  • Centavo - article about the use of centavos worldwide
  • Currency of Ecuador

References

  1. ↑ 1.0 1.1 Behnke, Alison (2008). Ecuador in Pictures. Twenty-First Century Books. pp. 68. ISBN 978-0822585732. https://books.google.com/books?id=it6xw9u3uSUC&dq=Ecuadorian+centavo+coins++2000&pg=PA68. 
  2. ↑ 2.0 2.1 "Numista Ecuador $1 webpage". Numista. http://en.numista.com/catalogue/pieces35717.html. 
  3. ↑ Foreign coins struck by the Royal canadian mint : Ecuador; consulted on March 2011
  4. ↑ (in Spanish) [1]; Noticias de Yahoo; consulted on March 2011
  5. ↑ "Coins of Central and South America - Ecuador: 2000s". http://www.ciscoins.net/america/ecuador/enec2000.htm. 



Retrieved from "https://handwiki.org/wiki/index.php?title=Finance:Ecuadorian_centavo_coins&oldid=3314583"