Bulgarian lion

In the First Bulgarian Kingdom, there was no coin ^[1] . In the 14th century, during the reign of Tsar Ivan Shishman , coins began to be minted, called “aspri,” and on one side was an image of a lion. The oldest image of a lion as a symbol of Bulgaria dates back to 1294, which was documented in the scroll of Lord Marshal. On the emblem was a silver lion with a golden crown on a dark shield. .

In 1851, under Turkish rule, the clergy of the Church of St. Archangel in Tryavna instructed Bishop Pencho Genow to mint square copper coins with a relief image of the cross on the obverse, which were supposed to be used for church calculations, but the coins issued were not put into circulation, since the Turkish authorities they declared those involved in the manufacture of coins counterfeiters and only the intercession of the population saved the minted coins of Pencho Genyuv from chopping off hands ^[2] .

The First Lion, 1879-1952

In 1879, the Bulgarian National Bank was established, and in 1880 a law was passed on the introduction of the national currency, called the “lion." The gold content of the lev was equal to the gold content of the French franc - 0.290323. The gold standard was suspended between 1899 and 1906, and also suspended in 1912. Until 1916, silver and gold coins of Bulgaria were issued with characteristics that meet the requirements of the Latin Monetary Union . Banknotes issued before 1928 contained an inscription on the provision of gold (“Lev Zlato” or “Gold”, “Lev Zlata” or “Zlatni”) or silver (“Lev srebro” or “Srebarni”, “Lev srebro” or “Srebrini” ").

In 1928, a new gold standard was established: 1 lev = 10.86956 mg of gold (26.7 times less than the pre-war period).

During the Second World War, in 1940, the lion was tied to the Reichsmark in the amount of 32.75 leva = 1 Reichsmark. With the liberation of Bulgaria in September 1944, the lion was tied to the Soviet ruble in the amount of 15 leva = 1 ruble. There was also an attempt to peg to the US dollar , 120 leva = 1 dollar in October 1945, 286.50 leva in December 1945 and 143.25 leva in March 1947. New coins were issued after 1943, and banknotes were issued before the monetary reform of 1952.

The Second Lion, 1952-1962

In 1952, after inflation, a new lion replaced the original lion in the amount of 1 “new” lion = 100 “old” levs. However, the rate on the implementation of bank accounts was different, ranging from 100: 3 to 200: 1. Product prices were replaced at a rate of 25: 1. ^{[3] The} new lev was pegged to the US dollar in the amount of 6.8 leva = 1 dollar, dropping to 9.52 leva on July 29, 1957.

The Third Lion, 1962-1999

In 1962, a denomination of 10 to 1 was carried out . In 1978, the lion received the currency code ISO 4217 - BGL. After that, the lion remained relatively stable for almost three decades. However, like the currencies of other socialist countries, the lion was not freely convertible, and its rate on the black market was five to ten times lower than the official one.

After the fall of socialism, Bulgaria experienced several rounds of sharp inflation and currency devaluation . In order to change this, in 1997 the lion was tied to the German mark (DEM) in the ratio of 1000 leva = 1 German mark.

The fourth lion, from 1999 to the present.

On July 5, 1999, the lion was denominated at a ratio of 1000: 1, the new lion became equal to the German mark ^[4] Currency code ISO 4217 for the new Bulgarian lev BGN .

With the replacement of the German mark by the euro , the lion began to be exchanged for the euro, at the rate of 1.95583 leva = 1 euro, it was a fixed exchange rate of the German mark to the euro. Since 1997, Bulgaria has been in the currency council system and all Bulgarian money in circulation has been supported by 100% of the foreign exchange reserves of the Bulgarian National Bank (BNB). The rate is unlikely to change until the lev is canceled. On April 25, 2005, when the agreement on the accession of Bulgaria to the EU was signed, the BNB issued a commemorative coin with a face value of 1,95583 leva. The lion was to be replaced by the euro on January 1, 2012, ^[5] however, the transition to the euro was not made within the indicated time period. It was assumed that Bulgaria would be able to join the eurozone no earlier than by 2015, but due to inflation and the global financial crisis of 2008, the transition was not made. However, in February 2009, The Economist magazine suggested ways to accelerate the introduction of the euro in Bulgaria, or even the immediate introduction. ^[6]

Currency exchange rate:

First Lion

Between 1881 and 1884, bronze coins of 2, 5 and 10 stotinki, 50 silver stotinki, 1, 2 and 5 leva were issued, and then, in 1888, copper-nickel 2 ½, 5, 10 and 20 stotinki. Gold 10, 20 and 100 leva were issued in 1894. Bronze 1 stotinka was introduced in 1901.

In connection with the First World War, the production of silver coins ceased in 1916. In 1917, coins in 5, 10 and 20 stotinki instead of copper-nickel alloy were issued from cheaper zinc. In 1923, aluminum coins with face values ​​of 1 and 2 leva were introduced, replaced in 1925 with copper-nickel coins. In 1930, copper-nickel 5 and 10 leva and silver 20, 50 and 100 leva were put into circulation (silver coins were issued until 1937). In 1937, 50 stotinki made of aluminum bronze were produced.

In 1940, copper-nickel 20 and 50 leva were introduced, and then, in 1941, iron 1, 2, 5 and 10 leva (iron coins of 1941 are considered relatively rare compared to all other issues). In 1943 - 5, 10 and 50 leva were released from nickel-plated steel. These were the last coins issued for the first lev.

Second Lion

In 1952, coins were introduced (with dates of 1951) in denominations of 1, 3, 5, 10 and 25 stotinki, bronze and copper-nickel. Copper-nickel 20 stotinki were released in 1952, and then 50 stotinki in 1959. All of them had a single design - on one side the face value with a spikelet of wheat, and on the other - the coat of arms and the name of the country ( NRB ). Later in 1960, a 1 lion coin (also copper-nickel) with a similar design was issued.

Third Lion

In 1962, brass 1, 2, and 5 stotinks and copper-nickel 10, 20, and 50 stotinks and 1 lion were introduced into circulation, with a reverse composition similar to Soviet coins of the 1961 sample. With a frequency of several years until 1990, the daughter-in-law of coins of this sample continued, and in 1981 a series of coins “Hilada and Three Hundred Years of Bulgaria” (1300 years of Bulgaria) was issued with a modified circular inscription around the coat of arms and a standard reverse.

In 1992, coins of a new type were issued in denominations of 10 stotinki to 10 leva. On the obverse of the 1 lion coin, instead of the coat of arms of Bulgaria, the Madara Horseman was depicted.

Fourth Lion

In 1999, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 stotinki. In 1999, 1, 2, and 5 stotinki were made of a copper-aluminum-nickel alloy, and since 2000, they were made of bronze-plated steel. 10, 20 and 50 stotinki are made of a copper-nickel-zinc alloy. The obverse of all these coins depicts the Madara Horseman , whose image dates from the 8th – 9th centuries BC. e.

In 2004, 2005 and 2007, 50 jubilee stotinki were released on the topics “Bulgaria in NATO” and “Bulgaria in the EU”.

In 2002, a 1-lion bimetallic coin was issued, gradually replacing a 1-lion banknote of the 1999 model, withdrawn from circulation since 2015. The obverse of the new coin depicts a portrait of St. John of Rylsky, the most revered in Bulgaria.

On December 7, 2015 a bimetallic coin with a denomination of 2 leva was issued, which is intended to replace a banknote of the same denomination in 1999 (2005), which is gradually being phased out. On the obverse of the new coin is a portrait of the historian monk Paisius of Hilendarsky .

The Bulgarian lev's course has been firmly tied since 1997 to the German mark in the ratio of 1000 to 1 (after the 1999 denomination - 1 to 1). After the abolition of the German mark, the lion is pegged to the euro in the ratio of 1,95583 leva to 1 euro. In this regard, in 2007, a commemorative silver coin with a face value of 1,95583 leva was issued.

In 2018, a commemorative coin in denominations of 2 leva was issued, dedicated to the presidency of Bulgaria in the EU.

First Lion

In 1885, the Bulgarian National Bank introduced banknotes of 20 and 50 gold leva, and then in 1887 100 gold leva, and in 1890, 5 and 10 leva. In 1899, 5, 10 and 50 leva, and then 100 and 500 leva in 1906 and 1907, respectively. 500 gold leva were introduced in 1907. In 1916, 1 and 2 silver and 1,000 leva gold levs were introduced, followed by 2,500 and 10,000 gold leva in 1919. In 1924, 5,000 leva were issued. In 1928, a new series of banknotes was issued. Banknotes of 5, 10, 20, 50, 100, 500, 1000 and 5000 leva were replaced. They were followed in 1929 by 200 and 250 leva. In 1930, coins replaced banknotes of up to 100 leva, although 20 leva were issued between 1943 and 1950.

In May 1944, banknotes of the 1943 type were issued with a picture of the new young Tsar Simeon II with face values ​​of 200, 250 and 500 leva (1,000 and 5,000 leva were printed, but not put into circulation), circulating before March 16, 1947. Between 1943 and 1945, state treasury bills of 1,000 and 5,000 leva were issued.

On March 10, 1947, banknotes of the 1945 type were issued, printed in the USSR, with face values ​​of 200, 250, 500, 1000 and 5000 leva. In the same year, 20 levs of the 1947 model were issued, printed in Bulgaria. These notes circulated until May 12, 1952.

Second Lion

In 1952, a series of banknotes of the 1951 model, printed in the USSR, was issued. Banknotes of 1, 3 and 5, 10, 25, 50, 100 and 200 leva were issued. 500 leva were printed, but not put into circulation. On banknotes from 10 to 500 leva, the first head of the NRB Georgy Dimitrov was depicted ^[8] .

Third Lion

In 1962, the National Bank issued banknotes of 1, 2, 5, 10 and 20 leva. The second series, in the same denomination, was released in 1974. 50 leva were introduced in 1990. After the fall of socialism and the establishment of capitalist relations, new banknotes replaced 20, 50, 100 and 200 leva. They were followed by 500 leva in 1993, 1,000 and 2,000 leva in 1994, 5,000 and 10,000 leva in 1996, and 50,000 leva in 1997.

Fourth Lion

In 1999, banknotes in denominations of 1, 2, 5, 10, 20 and 50 leva were introduced. In 2003, a banknote of 100 leva was issued. In 2005-2009, banknotes of the 1999 model were modified - 2 leva (2005), 50 leva (2006), 20 leva (2007), 10 leva (2008) and 5 leva (2009). In 2002, instead of a banknote of 1 lev, a coin of the same denomination was launched; on January 1, 2016, banknotes of 1 lev were withdrawn from circulation. With the beginning of the release in 2015 of a coin of 2 leva, the issue of banknotes of this denomination was discontinued. Banknotes issued earlier remain legal tender.

To maintain the national currency, Bulgaria uses the regime of the Monetary Council , in which the Bulgarian lev is pegged to the euro ( ISO code 4217 - EUR) in the ratio of 1.95583: 1 ^[9] .

• Bulgaria and Euro

• Open exchange rates . - The site of the API provider . - OER, 2012.
• International Monetary Fund . - Official site. - IMF , 2011.

• Gallery of Bulgarian Paper Money 1885-2009 (English)
• Bulgarian Banknote Gallery
• Gallery of Bulgarian banknotes 1929-2003 (Bulgarian.)
• Catalog and gallery of banknotes in Bulgaria (Russian)
• Bulgarian lion. All series of banknotes from 1885 to 2007.
• Website of the Bulgarian Mint
• Bulgarian Banknote Gallery (German )