In 1998, after a period of high inflation, a new coinage was introduced consisting of 10, 20, 50, 100 and 500 bolívar denominations. The bolívar fuerte is the new currency of Venezuela since 1 January 2008. The former denominations were, 10 bolívares, 20 bolívares, 50 bolívares, 100 bolívares, 500 bolívares and 1000 bolívares (introduced in 2006, recalled due to the coins using the old Coat of Arms).
All the coins had the same design. On the obverse the left profile of the Libertador Simón Bolívar is showen, along with the inscription \“Bolívar Libertador\” within a heptagon, symbolizing the seven stars of the flag. On the reverse the coat of arms is depicted, circled by the official name of the country, with the date and the denomination below. In 2001, the reverse design was changed, putting the denomination of the coin at the right of the shield of the coat of arms, semicircled by the official name of the country and the year of its emission below.