Pesa (monetary unit)

At the time of colonization, the thaler of Maria Theresa and the Indian rupee were circulating in German East Africa . One thaler corresponded to two rupees. The first coins that Germany began to mint for her colony, although they contained an image of Emperor Wilhelm II and the coat of arms of the German Empire, did not go on the territory of the metropolis. The state did not guarantee the stability of the exchange rate and exchange for imperial money. In fact, the coins of German East Africa were the private coinage of the , as evidenced in particular by the inscription on it. Deutsch Ostafrikanische Gesellschaft (German East African Commercial Society) ^[1]

The characteristics of the German coins were fully consistent with the British Indian rupee. By analogy with the Indian rupee, which was divided into 64 paise, the German East African consisted of 64 pez.

The end of the XIX - the beginning of the XX century was characterized by sharp jumps in the ratio of gold and silver prices. However, if British silver coins were subject to free exchange for gold at face value, then there are no coins of the German-East African Society. This led to the fact that German coins, being equivalent in weight and sample to British, were exchanged for them at the rate of ³ ⁄ ₄ British rupees for one German ^[1] .

Under an agreement with the German Empire of November 15, 1902, the company refused to mint its own coins. In 1904, new coins were issued. The rupee became decimal, corresponding to 100 gellers ^[1] . The introduction of the decimal system with the division of the rupee into 100 hellers meant the cessation of the pesa. This monetary unit was finally demonetized on April 1, 1910 ^[2] .

Coins with a face value of 1 peso were minted for only 3 years. In 1890, 1 million copies were issued, 1891 - 12 550 946, 1892 - 27 541 389 ^[3] .

• Jaeger K. Die deutschen Münzen seit 1871. - 17. Auflage. - Basel: H. GIETL VERLAG & PUBLIKATIONSSERVICE GMBH MÜNZEN UND MEDAILLEN AG, 2001. - 757 p.