Money constitutes an exchange value with an obvious economic and important function. Its existence and life in the history of countries goes way beyond its material value: it proudly hides and keeps history and art.

On July 11, 2006, the Bank of Guatemala opened the Numismatic Museum of Guatemala, establishing the only one of its kind in the country, with a large-scale importance.

The monetary history of each country encloses a distinctive richness, but the importance of Guatemala in the chronicles of Central America and its relationship with Mexico is reflected in the evolution of its economy, and therefore, registered in its coins.

The term numismatic is versatile and dynamic. It refers not only to the legal and economic aspects of coins, or its collection and study, but it also touches the characteristics of each element. Characteristics such as the process and tools used for their production, and above all, the historic aspect enclosed on its icons and images, which describe history, commerce, politics and every significant change of the country.



A paradise for academics and collectors
You will easily feel captivated while walking on the museum hallways. Its opening was awaited with interest by collectors and experts, as well as visitors of every type.




Guided by sections
Visitors are warmly welcomed, and guides specialized in numismatic explain details of every aspect that makes a coin so important.

The first surprise found at the entrance is a huge device used in ancient times to mint coins. Its operation needed the effort of several people and its performance was based in the weight and strength.

Ahead there is another device but of smaller size.



The history of coin
In Guatemala, going way back to the Mayan civilization, the use of cacao and jade prevailed as exchanging system among its inhabitants.

The barter (trueque), a fair and balanced exchange system was also a constant. However, by natural evolution cacao rose easily above the others, since it was an economic good that allowed negotiations with more freedom that with indivisible species or those of fixed value.

It was not until colonial times when the metallic coins were imported for their local use. As common, one of the main purposes consisted in facilitating the handling of taxes.

Later, in 1773 they started minting the special coin for Guatemala, marked with the identification of a “G”. Coins were commonly used in the different territories; that is why initials such as this one marked the difference. It was not until they transferred the city to the Valley of Ermita in 1776 that coins started including the “NG”, as New Guatemala.
Such coins included the characteristics of Spanish coins, with columns representing the kingdoms.  



The Central American Federation, a new age
Historically, there are two “Independence Days”, being that one of 1821 the one accepted officially. However, due to many aspects, specially the economic one, the old provinces where in such a crisis that they annexed to Mexico and accepted a proposal of Agustín Iturbide, a military politician qualified as the Emperor of Mexico.

Iturbide’s downfall marked the beginning of freedom in several aspects, among which is the field of economy. On that moment, on July 1st, 1823 a decree declares the countries of Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica as “United Provinces of Central America”.


The coins of the Federation started minting in 1824, and Guatemala was established as the only place authorized to produce them.

In March of 1847, Rafael Carrera makes a further change and Guatemala is proclaimed as a Republic. During this period, the circulation of foreign currency was authorized.

It is not until 1859 when Juan Bautista Frener, of Swiss origin, leads a series of changes in the Mint and the National Shield is included during the government of Miguel García Granados.

It is worth mentioning, as a surprise for those Guatemalans who know the coins as “face or shield”, that the shield of Guatemala is actually what represents the face or head of the coin. The origin of this confusion of terms is attributed to the inclusion of portraits in the reverse side of the coinage.


Monetary Reform and Central Bank
In 1924 General José María Orellana urged an economic reform which contemplated an arrest to the production of currency without support; and the Quetzal appears as monetary unit, substituting the ancient Peso.

In 1926 the cash regulator was constituted as the Central Bank of Guatemala, becoming the sole authorized issuing company of currency. This is how the printing of paper bills starts, which included the portrait of General José María Orellana.
Not too long after, such Central Bank disappears as part of the changes instigated by the Revolution of 1944.



The autonomous Bank of Guatemala
In 1946 the Bank of Guatemala was created, substituting the Central Bank. Now it had a new legal status, autonomy and a patrimony of its own.

It’s in 1954 when the minting of coins becomes part of the attributions of the Bank of Guatemala, and the National Mint is established as a subordinate of the bank.


Security and control methods
The forgery of economic exchangeable or trading goods has always been subject of study and inspection from counterfeiters.

In ancient times, the composition of coins based in the combination of metals, whose value could depend on its content of silver or even gold was always in doubt. So, there were methods to verify if the content was the appropriate.

Later, the obviously incapable satisfied demand of coins produced with silver and gold, made it necessary the use of new systems based in images and seals difficult to reproduce.

However, the forgers always found ways to yield such designs, and that is why they came with the idea of “validating” them with additional stamps or letters in the form of initials.


For this and many other reasons, the reproduction technique evolved to such a level, that they were able to create truly artistic pieces with unique and admirable details.

The form, as well as its size and the texture in the boundary of coins are part of the control methods used, in order for its duplication to require less profitable efforts. But the creation of paper money marked a new era in the forgery of values.     


About single and double bills
The use of paper created a new barrier for counterfeiters, and the first obstacle, as with coins, was its own design.

Historically, paper bills were a form of art and detail; magnificent pieces of art worthy of admiration and collection. But the increasing efforts to duplicate them, made it necessary, the appearance of new methods.

This is one characteristic that surprises many, since bills are created with two printed faces that are stick together to create one single piece. Inside, the embossed seal is printed, as well as the inclusion of lines or control threads.


Vanguard coins
Without a doubt, bills and coins represent the best of every era; from its color, printing systems, art, detail, important events, politic changes and, above all, the most innovated methods of control, such as the inks used, that turn fluorescent when exposed to ultraviolet light.


A surprise of great value

Some of the visitors feel amazed, when they realize that they possess valuable samples in their hands; some due to its rareness and others for being pieces issued in limited editions on relevant dates or events.

Anyway, the museum constitutes a jewel for consultation and learning, and it also represents a delightful corner for collectors and experts.


How to arrive to the museum
The Numismatic Museum of Guatemala is located in 7a. Avenida 22-01, Zona 1.  It is open to the public from 9:00 a.m. to 3:00 p.m., from Tuesday to Saturday.  Its entrance is free and guides are available for instructional visits.

For more information, consult the main page of the Bank of Guatemala in http://www.banguat.gob.gt

Text, pictures, animation: Héctor Roldán.