At that time, the Romanian coin was among the few European currencies backed by gold reserves, which explains its rarity and impressive value today – a specimen recently sold for $450,000, one of only 200 coins issued.
The economic explosion of interwar Romania and the beginning of the 20th century
With the end of the 19th century, Romania changed its political regime, moving from a ruler to a king, following the amendment of the Constitution in 1881, when Carol I became the country’s first king. One of his great achievements was achieving national independence. His ascension followed the removal of Alexandru Ioan Cuza, the first ruler who unified the Romanian Countries. This change was initiated by prominent political figures such as Nicolae Golescu, Lascăr Catargiu and Ion Ghica.
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In addition to independence, during the 48 years of his reign, Carol I boosted a real industrial revolution, putting Romania on the economic map of Europe. A little discussed aspect is the fact that, at the beginning of the 20th century, the national currency was backed by gold, thus being among the few European currencies with such stability and strength.
Rare Romanian coin sold today for $450,000
The period of industrial development and economic reforms during the reign of Carol I brought multiple innovations and significant purchasing power, managed by the National Bank of Romania (BNR). The BNR has issued banknotes and coins with the image of the Royal House, including the famous 20 lei coin, known as the “Carol I pole”, issued since 1868.
It was issued in only 200 copies
This coin was issued two years after Carol accepted the throne of Romania. In March 1881, he officially became king, under the name Carol I. Only 200 copies of this coin were minted, some of which were given by the king to other European royal houses as a token of honor, without entering circulation.
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A legend says that, after the coins were given to some European monarchs, the rest of the specimens were buried in the foundation of the Peleș Castle, the royal residence, in 1875, when construction work began.
