1972 DOMINICAN REPUBLIC 25th Yr Central Bank VINTAGE Silver Peso Coin i86434

Description

Item:
i86434
Authentic Coin of:
Dominican Republic -  25th Anniversary of the Central Bank
1972
Silver 1 Peso 37mm (
26.94
grams) 0.900 Silver (0.7726 oz. ASW)
Reference: KM#
34
25 ANIVERSARIO BANCO CENTRAL DE LA REPUBLICA DOMINICANA 1947-1972 DIOS PATRIA LIBERTA REPUBLICA DOMINICANA, Coat-of-arms.
UN PESO 26.7 GRAMOS 1972 CASA DE LA MONEDA, Mint building facade.
You are bidding on the exact item pictured, provided with a Certificate of Authenticity and Lifetime Guarantee of Authenticity.
The
Central Bank of the Dominican Republic
(Spanish:
Banco Central de la República Dominicana
, BCRD) was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the country's monetary and banking system. The Bank's headquarters is in Santo Domingo, and its current governor is Héctor Valdez Albizu.
Organic Law no. 6142 of December 29, 1962, authorized the central bank to promote and maintain favorable monetary, foreign exchange and credit conditions for the stability and development of the national economy. The central bank's functions include regulating market liquidity levels by: determining deposit reserve requirements for banks; implementing lending limits when necessary; and issuing negotiable securities. Additional functions include controlling movements of the exchange rate and introducing resolutions pertaining to the financial system.
The BCRD implements all changes to banking regulation proposed by the Monetary Board (
Junta Monetaria
) which is the highest body of authority within the institution. The Board consists of ten members, all of which are appointed by the executive. The governor of the central bank heads the Monetary Board while the Ministry of Finance and the Ministry of Industry and Commerce each have a seat on the Board. The BCRD Governor is appointed by the executive for a period of two years, though with Héctor Valdez Albizu there has been continuity at this senior post for several years despite political administration changes. Albizu was the BCRD governor from 1994 until 2000, again holding the post from August 2004.
Since late 1993, BCRD has worked with the sponsorship of the Inter-American Development Bank to improve several areas of banking practice.
The
Dominican Republic
is a country located in the island of Hispaniola, in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares with the nation of Haiti, making Hispaniola one of two Caribbean islands, along with Saint Martin, that are shared by two sovereign states. The Dominican Republic is the second-largest Caribbean nation by area (after Cuba) at 48,671 square kilometers (18,792 sq mi), and third by population with approximately 10 million people, of which approximately three million live in the metropolitan area of Santo Domingo, the capital city.
Christopher Columbus landed on the island on December 5, 1492, which the native Taíno people had inhabited since the 7th century. The colony of Santo Domingo became the site of the first permanent European settlement in the Americas, the oldest continuously inhabited city, and the first seat of the Spanish colonial rule in the New World. After more than three hundred years of Spanish rule the Dominican people declared independence in November 1821. The leader of the independence movement José Núñez de Cáceres, intended the Dominican nation to unite with the country of Gran Colombia, but no longer under Spain's custody the newly independent Dominicans were forcefully annexed by Haiti in February 1822. Independence came 22 years later after victory in the Dominican War of Independence in 1844. Over the next 72 years the Dominican Republic experienced mostly internal conflicts and a brief return to colonial status (but Spain had not come to take away its independence) before permanently ousting Spanish rule during the Dominican War of Restoration of 1863-1865.
[20][21][22]
A United States occupation lasted eight years between 1916 and 1924, and a subsequent calm and prosperous six-year period under Horacio Vásquez was followed by the dictatorship of Rafael Leónidas Trujillo until 1961. A civil war in 1965, the country's last, was ended by U.S. military occupation and was followed by the authoritarian rule of Joaquín Balaguer (1966-1978 & 1986-1996), the rules of Antonio Guzmán (1972-1978) & Salvador Jorge Blanco (1982-1986). Since 1996, the Dominican Republic has moved toward representative democracy and has been led by Leonel Fernández for most of the time since 1996. Danilo Medina, the Dominican Republic's current president, succeeded Fernandez in 2012, winning 51% of the electoral vote over his opponent ex-president Hipólito Mejía.
The Dominican Republic has the ninth-largest economy in Latin America and is the largest economy in the Caribbean and Central American region. Over the last two decades, the Dominican Republic has had one of the fastest-growing economies in the Americas - with an average real GDP growth rate of 5.4% between 1992 and 2014. GDP growth in 2014 and 2015 reached 7.3 and 7.0%, respectively, the highest in the Western Hemisphere. In the first half of 2016 the Dominican economy grew 7.4% continuing its trend of rapid economic growth. Recent growth has been driven by construction, manufacturing, tourism, and mining. The country is the site of the second largest gold mine in the world, the Pueblo Viejo mine. Private consumption has been strong, as a result of low inflation (under 1% on average in 2015), job creation, as well as a high level of remittances.
The Dominican Republic is the most visited destination in the Caribbean. The year-round golf courses are major attractions. A geographically diverse nation, the Dominican Republic is home to both the Caribbean's tallest mountain peak, Pico Duarte, and the Caribbean's largest lake and point of lowest elevation, Lake Enriquillo. The island has an average temperature of 26 °C (78.8 °F) and great climatic and biological diversity. The country is also the site of the first cathedral, castle, monastery, and fortress built in the Americas, located in Santo Domingo's Colonial Zone, a World Heritage Site. Music and sport are of great importance in the Dominican culture, with Merengue and Bachata as the national dance and music, and baseball as the favorite sport.
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Mr. Ilya Zlobin
, world-renowned expert numismatist, enthusiast, author and dealer in authentic ancient Greek, ancient Roman, ancient Byzantine, world coins & more.
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