National Mint of Bolivia facts for kids
Quick facts for kids National Mint of Bolivia |
|
|---|---|
Façade of the Mint, February 2007
|
|
| General information | |
| Location | Potosí, Bolivia |
| Opened | 1572 |
| Design and construction | |
| Architect | Jerónimo Leto |
The National Mint of Bolivia (which in Spanish is called Casa de la Moneda de Bolivia) is also known as the Mint of Potosí. It's a special building in the city of Potosí, Bolivia, where coins were made. For a long time, this mint produced most of the silver coins that were sent across the world by Spain.
The coins made here became so famous that people even had a saying about them: valer un potosí. This means "to be worth a potosí," which was like saying "to be worth a fortune!" The famous writer Miguel de Cervantes even mentioned this saying.
Building the First Mint
Potosí had a huge mountain called Cerro Rico, which was full of silver ore. As more silver was found and the city grew, people needed a place to turn all that silver into coins. So, they decided to build a mint.
The first mint was built starting in 1572. It was located near the Royal Palaces in a main square called Plaza del Regozijo. The architect in charge was Jerónimo Leto, and he finished the building in three years. It cost a lot of money, more than 8,000 pesos, which would be like ten million dollars today! It's said that Charles III of Spain joked that the whole building must have been made of pure silver because it was so expensive.
For over 200 years, from 1572 to 1767, this first mint made coins using very basic methods.
The Second Mint is Built
After some problems with the old mint, people decided it was better to build a brand new one instead of just fixing the old one. So, a new building was started in a nearby square called plaza del Gato.
Construction on the second mint began in 1757 and was finished in 1770, even though there were many challenges. At first, coins were made using a method called hammered coinage. This meant placing a blank piece of metal between two special metal stamps (called dies) and then hitting the top stamp with a hammer. This would press the design onto both sides of the coin. This old method continued at the first mint until 1773.
However, the new mint started using screw-press machines in 1767. These machines used a screw mechanism to press the coins, making them more uniform. These screw-press machines were used until 1869, when even newer steam-powered presses were installed.
Later Years and New Coins
During the time of revolutions, in 1813, General Manuel Belgrano and the revolutionary leaders of the United Provinces of the Río de la Plata took control of the Casa de Moneda. They wanted to create their own national money.
The Potosí Mint then started making gold coins (worth 8, 4, 2, and 1 escudos) and silver coins (worth 8, 4, 2, 1, and ½ reales). Instead of showing the King of Spain, these new coins had the words "In Union and Liberty." One side showed a shining Sun of May, and the other side had the coat of arms of Argentina. These coins also had the letters "PTS" to show they were made in Potosí. In 1815, the coin-making stamps were moved from Potosí to Córdoba, where Argentina's first mint was set up.
Bolivia became its own country on August 6, 1825, after a long 15-year conflict. Leaders like Simón Bolívar and Antonio José de Sucre helped set up the new government and its money system. It took two years for the first coins of the new Republic of Bolivia to be made, and during that time, Spanish coins were still used.
In 1933, the old mint building was used as a headquarters during the Chaco War, which was a conflict between Bolivia and Paraguay. After the war, it was even used as a stable for farmers' animals when they came to the Potosí market.
Today, the old colonial and republican coin-making machines are kept in the mint as part of a museum. It's considered one of the most important museums in Bolivia. The building is so important that it's part of the City of Potosí's UNESCO World Heritage status since 1987.
See also
In Spanish: Casa de la Moneda de Bolivia para niños
- Great Potosi Mint Fraud of 1649
