- For more Brazilian coins with a denomination of 1 centavo, see Brazilian 1 centavo coin (disambiguation).
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The 1 centavo coin is a former circulation piece of the Federative Republic of Brazil. It was issued in two types from 1986 to 1990, one under the cruzado and the other under the cruzado novo. Both were struck at the Casa da Moeda do Brasil in Rio de Janeiro and issued by the Central Bank of Brazil.
The first type was introduced in 1986 and manufactured annually until 1988. Because of hyperinflation in Brazil during the 1980s, the cruzado's purchasing power had largely decreased by the time the cruzado novo was introduced in 1989. For this reason, the 1 centavo piece, having a low face value of only 0.01 cruzado, did not see very much circulation before its demonetization in 1989.
A new 1 centavo piece was then introduced under the short-lived cruzado novo in 1989, and then struck again in 1990. Continued hyperinflation in Brazil resulted in the demise of this coin type as well, and it circulated for a value of 0.01 cruzado novo until 1990. It then remained in circulation under the third cruzeiro until the introduction of the cruzeiro real in 1993, carrying a face value of 0.01 cruzeiro during this period.
Coins[edit | edit source]
Coin of the cruzado (1986–1988)[edit | edit source]
During the early 1980s, the Brazilian military government enacted a series of economic policies that overexpanded Brazil's money supply. As a result, Brazil experienced an over decade-long period of hyperinflation that resulted in the the failure of five consecutive currencies. The cruzado, established by the Cruzado Plan on February 28, 1986, was among these failed currency systems. It replaced the second cruzeiro (previously the cruzeiro novo) at a rate of 1,000 to 1, circulating from 1986 until the introduction of the cruzado novo on January 16, 1989.
The first circulation coins of the cruzado, consisting of denominations of 1, 5, 10, 20, and 50 centavos and 1 and 5 cruzados, were introduced in 1986 by the Central Bank of Brazil. They were then followed in 1987 by a new 10 cruzado piece and in 1988 by three circulating commemorative 100 cruzado coins celebrating the 100th anniversary of the abolition of slavery in Brazil. The 1 centavo piece of the series, struck annually from 1986 to 1988, remained in circulation in Brazil until its demonetization on January 16, 1989. Its design was modeled after those of the 100, 200, and 500 cruzeiro coins issued from 1985 to 1986.
The 1 centavo piece is composed of stainless steel and measures 1.6 grams in mass, 15 millimeters in diameter, and 1.45 millimeters in thickness. It has coin alignment and a plain edge, and like most coins, is round in shape. Both of the coin's rims are raised and decorated with a beaded border.
The coat of arms of Brazil at the time is displayed in the middle of the coin's obverse. In the center of this symbol, five five-pointed stars representing the constellation Crux appear inside a circular shield, surrounded by 22 stars symbolizing the nation's Federal District and the 21 states of Brazil at the time. The shield in the arms superimposes a large five-pointed star, which is flanked by a coffee sprig to the left and a tobacco sprig to the right. Below the star and shield are a sword and a ribbon bearing the state title "REPÚBLICA FEDERATIVNA DO BRASIL" (English: "Federative Republic of Brazil") and the date "15 de Novembro de 1889" (English: "November 15, 1889").
The face value "1 CENTAVO" is engraved on two lines in the center of the reverse, the numeral rendered in noticeably larger print than the following word. Inscribed clockwise along the rim above is the Portuguese name of Brazil, "BRASIL", and displayed in the opposite direction at the coin's lower periphery is the Gregorian date of minting.
A total of 102,000,000 examples of the coin were manufactured over three consecutive years of production. Only business strikes of this particular type are known to exist.
Coin of the cruzado novo (1989–1990)[edit | edit source]
In another attempt to control inflation and stabilize the Brazilian economy, President José Sarney (1930–; i.o. 1985–1990) provisionally enacted the Summer Plan on January 15, 1989. This measure was later converted into law by the National Congress on January 31 of the same year. As part of this plan, the cruzado novo was introduced on January 16, replacing the previous cruzado at a rate of 1,000 to 1. The eventual failure of the Summer Plan, however, resulted in the early demise of this new currency on March 16, 1990. Per the Collor Plan of 1990, it was later replaced by the third cruzeiro at a parity exchange rate.
In 1989, the Central Bank of Brazil released the first (and only) series of circulation coins for the cruzado novo, consisting of denominations of 1, 5, 10, and 50 centavos and 1 cruzado novo. A commemorative 200 cruzado novo piece was also issued in 1989, but was not intended for circulation. The 1 centavo coin of the series, struck from 1989 to 1990, remained in circulation under the cruzado novo and third cruzeiro. It was not demonetized until August 1, 1993, when the cruzeiro real was introduced.
The piece is composed of stainless steel and measures 2.01 grams in mass, 16.5 millimeters in diameter, and 1.2 millimeters in thickness. Steel provas from 1989 are also known, and have the same diameter and thickness as their circulating counterpart. Both the circulation piece and prova have coin alignment and a plain edge, and are round in shape. Both of the rims of each type are raised and undecorated.
A stylized illustration of a male cattle herder on horseback is displayed at the top center of the obverse. In this image, the man, alternatively described as a cowboy (Portuguese: boiadeiro) by the Central Bank of Brazil and farmer by the Standard Catalog of World Coins, is shown wearing a wide brimmed hat and collared shirt, looking in the direction of a field of cattle. Written in small print on a single horizontal line below the depiction is the Gregorian date of minting, either "1989" or "1990".
The face value "1 CENTAVO" appears on two left-justified lines in the middle of the reverse, the numeral "1" rendered in noticeably larger print than the following word. Engraved horizontally in even smaller print below the word "CENTAVO" is the Portuguese name of Brazil, "BRASIL". The lines containing the value and name of Brazil are inscribed within incuse rectangular fields. These, in turn, superimpose an illustration of a celestial globe containing two five-pointed stars and an incuse band, a symbol similar to the globe appearing on the Brazilian flag.
Excluding the steel provas, a total of around 209,100,000 examples of the coin were minted during two years of production. Only business strikes of the issued piece are known to exist.
References[edit | edit source]
- Numismatic Guaranty Corporation – Brazil - Centavo, KM# 600 (1986–1988) • Brazil - Centavo, KM# 611 (1989–1990) • Brazil - Centavo, KM# Pr26 (1989)
- Colnect – 1 Centavo (1986–1988) • 1 Centavo (1989–1990)
- Numista – 1 Centavo (1986–1988) • 1 Centavo (1989–1990) (English) (French)
- Central Bank of Brazil – Coins of the cruzado • Coins of the cruzado novo (Portuguese)
- Schön, Günter and Gerhard, Weltmünzkatalog 20. Jahrhundert, 44. Auflage, 2016, Battenberg Gietl Verlag, ISBN 9783866461192
- Cruzado (moeda brasileira) on the Portuguese (português) Wikipedia
- Cruzado novo on the Portuguese (português) Wikipedia