Venezuela

Venezuela gained its independence from Spain in 1811 — the first Spanish American colony to do so. However, the First Republic of Venezuela was short-lived (as were the Second and Third Republics). It was incorporated into Gran Colombia until that nation’s dissolution in 1831. Through the remainder of the 19th and early 20th century, Venezuela had a number of governments.

Venezuela’s initial currency, peso (10 real = 1 peso) had a lower silver content than comparable LMU coinage: 1863 10 real 27 grams, 0.9 fine (compared to 25 grams), 1858 5 reales 11.5 grams, 0.9 fine (compared to 12.5 grams). [Pending further research on the origins of this early coinage]

Venezuela had two currencies falling under the LMU standard. The Venezuelano (1871-1879) mirrored at a 1 to 5 ratio, like Argentina. The bolivar (1879 onward) matched the French denominations.