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new Dominican Republic - Set of 3 - 10, 25, & 50 Centavos - Specimens P-86, 88a, & 90 - 1961 dated Foreign Paper Money

Inv# FM1399   Foreign Paper Money Cat# p-86,88,90
Country: Dominican Republic
Denomination: 10, 25, & 50 Centavos
Years: (1961)

Specimens, (1961), P-86, 88a, & 90. CU. Not listed as Specimens. Set of 3. When the peso oro was first introduced as a local coinage in 1937, no paper money was made and US notes continued to circulate as the U.S. dollar was officially the national currency. Only in 1947 were the first peso oro notes issued by the Central Bank in denominations of 1, 5, 10, 20, 50, 500, and 1000 oros, though the latter two denominations were rarely used. These notes were printed by the American Bank Note Company, a private printing and engraving firm. Though US notes were always acceptable in exchange, they were gradually withdrawn from circulation. In 1961, low value notes were issued in denominations of 10, 25 and 50 centavos to help compensate for the value of silver in coins surpassing face value and the resulting coin shortages. Following the demise of Trujillo all banknotes afterwards dropped references to the capital city Ciudad Trujillo which had reverted to its old name, Santo Domingo.

Banknotes currently in circulation are 50, 100, 200, 500, 1000 and 2000 pesos oros. The 10 and 20 peso denomination bills have been replaced with 10 and 25 peso coins respectively in 2005. In 2010, a new 20 pesos oro polymer banknote was released. Limited editions of the 500 and 2000 peso oro notes were issued for the 1992 500th anniversary of the discovery of the Americas and year 2000 millennial celebrations, respectively, but as of 2005 not many of these remain in circulation. A 5000 pesos note has been considered before but not made. Read more at https://en.wikipedia.org/wiki/Dominican_peso

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Item ordered may not be exact piece shown. All original and authentic.
Price: $60.00