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Costa Rica / 2 Products

Situated in the Central American region of North America, the Republic of Costa Rica is bounded by Nicaragua, the Caribbean Sea, and Panama, with its coastlines on the Caribbean and the Pacific. The country was the meeting point of Mesoamerican and South American cultures, with the Nahuatl on the Nicoya peninsula and the Chibcha influences in the country’s central and southern part. With Spain settling the country in the 16th century, Costa Rica had adapted Spanish culture. 

The currency of Costa Rica is the colon, replacing the peso at par. Introduced in 1896, the Costa Rican colon is subdivided into one hundred centimos. Initially, the currency was issued by various banks. 

In 1897, gold coins were issued in denominations of 2, 5, 10, and 20. It was followed by silver and cupro-nickel coins. In 1905, silver 5 and 10 centimos were issued.

Instead of centimo coins, centavo coins in denominations of 5 and 10 bearing the G.C.R. initials were issued in 1917. In 1920, 5 and 10 centimos were issued, followed by silver 25 and 50 centimos in 1923. 

Cupro-nickel coins were issued by the Bank of Costa Rica in 1935. In 1937, coins of 25 and 50 centimo, and 1 colon, were issued by the National Bank. In 1942, the bank issued 5 and 10 centimos and in 1948, a 2-colones coin was issued. 

When the Central Bank of Costa Rica became the sole institution responsible for the issuance of Costa Rican colon notes and coins in 1951, it introduced 5 and 10 centimo coins. Recent Costa Rican coins in 10, 25, 50, 100, and 500 colones depict the coat of arms.

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