World Coins: Venezuela 1973 10 Bolivares

The Venezuela 1973 10 Bolivares coin is not only an interesting commemorative piece, but a great study in numismatics.

The Venezuela 1973 10 Bolivares was the first commemorative coin of Venezuela. It was struck to celebrate the 100th anniversary of Simon Bolivar’s depiction on Venezuelan coinage. Simon Bolivar was the liberator of Venezuela and was celebrated on Venezuelan coins since 1873.

The 1973 commemorative was struck in silver—the piece was not intended for circulation as the silver greatly increased the value of the coin over the stated face value. While the coins are quite abundant with a mintage of 2,000,000 business strikes, the proof mintage was only 200 pieces.

Venezuela 1973 10 Bolivares MS Click images to enlarge.

Venezuela 1973 10 Bolivares PF Click images to enlarge.

What is quite remarkable about the Venezuela 1973 10 Bolivares is the existence of numerous patterns, trials, and other issues struck from dies that are both of mint and private origin. Known examples of such pieces include a reverse die trial strike on a square lead planchet, a reverse hub impression (uniface strike in silver), a “mule” using two reverse dies to strike a piece in silver, a reverse die strike with “ENSAYO METALOR C.A.” on the reverse in silver, and a 1973 10 Bolivares with an incuse “M” in a circle on the reverse (listed as KM-PPN2).

Venezuela Lead Trial Strike Click images to enlarge.

Venezuela 1973 10 Bolivares Hub Click images to enlarge.

Venezuela 1973 10 Bolivares Mule Click images to enlarge.

The piece with “Metalor” on the reverse is quite interesting. Metalor is a metal refining company located in Los Angeles. Being that a reverse die was used in striking a piece with “Ensayo,” or essai, on the reverse with the company name it is likely that at one point the company had the die or dies for the coins and it is also likely that KM-PPN2 with the circled “M” could also be a Metalor production.

Venezuela 1973 10 Bolivares KM-PPN2 Click images to enlarge.

Probably the most interesting piece associated with the Venezuela 1973 10 Bolivares is a medallic striking of a defaced Iranian coin die. Struck in copper, the piece is made from a defaced Iran 1971 2500th anniversary of Persian Empire 200 Rials dies. The defacing was accomplished by grinding marks in the fields on the obverse and removing the Arabic script and denomination on the reverse. The piece was struck with the edge lettering for the Venezuela 1973 10 Bolivares coin which reads, “CENTENARIO DE LA EFIGIE DEL LIBERTADOR EN LA MONEDA.” This piece was noted in the Ottawa Coin Club bulletin of December 8, 2009, where it was stated that the Royal Canadian Mint had struck both the Iranian coins and the Venezuela 1973 10 Bolivares coins. It is unknown if the defaced dies from an Iranian 1971 coin were used as trials for the Venezuela 1973 collar and edge lettering application, or if the dies and collar were deaccessioned and this piece was struck privately using such parts.

Venezuela 1973 10 Bolivares Medallic Striking on an Iran 1971 2500th Anniversary Persian Empire 200 Rials Die Left to Right: Obverse; Reverse; Coin photographed on a concave mirror to show edge lettering Click images to enlarge.

Coins provide endless opportunity for study. The Venezuela 1973 10 Bolivares coin is an excellent example.

The Gamboa collection was the study for this article and contains all known examples of the varieties mentioned above. However, it is always possible that new pieces will surface in the future, providing more insight into this issue.