Auronum

Live prices
  • Gold £1,834.98 oz -1.65%
  • Silver £23.35 oz -4.13%
  • Platinum £798.69 oz 0.97%
Gold -1.65%
£1,834.98 oz
Silver -4.13%
£23.35 oz
Platinum 0.97%
£798.69 oz
Gold -1.65%
£1,834.98 oz
Silver -4.13%
£23.35 oz
Platinum 0.97%
£23.35 oz

Gold Coins of Ecuador

Ecuador Gold Sucre & Cóndor Coins

Ecuador Gold 1 Cóndor

The national currency of Ecuador is actually the US Dollar, yet this South American country has an interesting history with its previous currencies. Due to Spanish influence the peso and escudo was Ecuador’s currency in the mid-18th century which was superseded by the Franco with 1 peso equal to 5 Francos

Ecuador joined a silver standard in 1884 which saw the inception of the Sucre, named after a Venezuelan independence leader. In 1890 the Sucre was the only legal currency in Ecuador which unified its monetary system. This remained the case for eight-years before Ecuador adopted a Gold standard which introduced the Cóndor ecuatoriano, 8.136 g, 900 fine, with a value of 10 Sucres

To fund the issuance of the Gold Cóndor coins, Ecuador’s government sold 3 million sucres in silver coin. As illustrated on the Gold Cóndor, the Cóndors were minted at the Birmingham in Britain. Private banks Banco Comercial y Agrícola and Banco del Ecuador then issued the coins into circulation

The Gold Ecuador 1 Cóndor coin is one of the rarest modern-day Latin American coins. The issue is a one-year type with the total mintage limited to 20,000. Official records show that only 5,000 was released to the public with the remainder retained by the Central Bank of Ecuador as its Gold reserves

Ecuador Gold 1 condor coinEcuador Gold condor

Ecuador 1 Condor

Out of Stock

Auronum Sells

-

Auronum Buys

£532.66

Ecuador Gold 10 Sucres

Ecuador’s Gold standard was suspended in 1914 when it reverted to an unbacked paper Sucre which took until 1926 to stablise at 5 Sucre for one US Dollar. Due to commercial banks issuing more currency than they was mandated for a central bank was installed and so 1927 saw the creation of the El Banco Central del Ecuador which put the Sucre on the gold exchange standard with one Cóndor valued at 25 Sucres

Banco Central sent 63,680 Cóndores of the 1898 standard to Birmingham to be recoined into 20,000 new Cóndores, the remainder to be sold as bullion. The new Gold Cóndor has a mass of 8.35925g, making it a larger coin than the Gold 10 Sucre which has a weight of 8.136g

The Gold exchange standard was suspended again in 1932 which led to the sucre depreciating on foreign exchanges. Several interventions were made by the Ecuadorian central bank before the Sucre stablised at 14.00 per US Dollar in 1942. This stability was short-lived as further devaluation occurred causing the Sucre to fall to 25 Sucres per US Dollar in 1970

The Sucre collapsed in the 1990s which saw an exchange rate of 3,000 Sucre to the US Dollar in 1995 before collapsing to 25,000 per US Dollar in 2000 prompting Ecuador’s president to announce the adoption of the US Dollar as Ecuador’s official currency. The Gold Sucre and cóndor are a important piece of Ecuador’s monetary history and serve as highly desired collector’s pieces. Official records show that although 100,000 Gold 10 Sucre coins were minted, most of these issues have never been released by the Ecuadorian Central Bank

Ecuador Gold 10 Sucres coinEcuador Gold Sucre coin

Ecuador 10 Sucres

Out of Stock

Auronum Sells

£950.79

Auronum Buys

£820.78

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