Banco de Guatemala

In 1524, Spanish forces entered Guatemala, led by Captain Pedro de Alvarado who began conquering the territory and fighting the Quichés and other peoples. From the beginning, the Spaniards avidly sought gold and for this, submitted the indigenous peoples into forced labor in the washeries and mines.

In 1543 the first House of Ironwork was founded, for metals with the objective of legalizing them and applying the Quinto Real collection.  In this period the use of imported metallic coin was used in our territory mainly in the Exchange houses already established in the American continent: Mexico, Lima (Peru), Potosi (Bolivia) even Spain itself.  After many years of petitioning before the crown, finally, Phillip V authorized the establishment of the Currency House of Guatemala through the Cédula Real of January 17, 1731, beginning the minting of coins in 1733 with the identification of the mint of Guatemala “G”, changing to “NG” (New Guatemala) with the transfer of the Valle de la Ermita in 1776.  The new Currency House continued minting pieces, with the characteristics of Spanish coins until the end of the colonial period.



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