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1 Sucre Central Bank Anniversary
| Issuer | Banco Central del Ecuador |
|---|---|
| Year | 1997 |
| Type | Non-circulating coin |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse script | Latin |
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| Edge | Reeded |
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| Additional information |
The Ecuadorian sucre had been the national currency since 1884, named after the independence hero Antonio José de Sucre. By the time this commemorative was struck in 1997 marking the Banco Central's anniversary, the currency was already in serious trouble — chronic inflation and a banking crisis were accelerating the sucre's collapse. Within three years it would cease to exist entirely, replaced by the US dollar in 2000 after the sucre lost roughly 75% of its value in 1999 alone.
The irony of issuing a gold commemorative for an institution whose primary currency was disintegrating around it was not lost on observers at the time.