You can find Costa Rica on the map between Nicaragua and Panama in Central America. Coffee and bananas are its main products, but tourism is its major source of income. Every year, almost 2 million people come to Costa Rica to have fun in the sun and play. They use the local currency, the colones. Under the symbol CRC the colon trades at a rate of 100 centimos equal one colon.
History
Christopher Columbus “discovered” Costa Rica in 1502. Following this was an unsuccessful attempt to colonize the country. Eventually, the Spanish controlled the new land and the region became part of the Spanish New World concept. Guatemala slipped away into independence in 1821 but Costa Rica remained under Spanish control until a few years later. The coin of the land through all this time was Spanish.
From 1823 to 1838, Costa Rica became a member of the Central America Union then an independent republic. Spain still influenced coinage. In 1842, when Costa Rica issued its first money, the money was in reales and escudos. Other issues followed between 1847 and 1862. All tended to be in a Spanish colonial-style. This was also a period of counterfeit foreign coins.
It was not until 1864 that Costa Rica embarked on the decimal system of coinage. The new peso equaled 100 centavos. The principal design of the money continued to use the oak tree and the country’s national arms. Coins came as ¼, 1, 5, 10, 25 and 50 centavos and 1, 2, 5, 10 and 20 pesos. This remained the currency until 1896. The mint in Costa Rica produced this currency, but the Heaton Mint in Birmingham was the source between 1889 and 1893. In 1889, the country also needed to counterstamp foreign money.
The gold standard replaced the old system in 1896. The new standard stated 100 centimos equals 1 peso. This first issue consisted of 2, 5, 10 and 20 colones. After 1900, 5, 10, 25 and 50 centimos became common currency. The money also underwent devaluation from inflation during the 20th century. In 1997, currency consisted of older lighter coins and the newer coinage. The older coins included 10, 25 and 50 centimes and 1, 2, 5, 10 and 20 colones. The new coins had 5, 10, 25, 50, 100 and 500 colones. The paper notes include 1,000, 2,000, 5,000 and 1,000 colones. A popular gift item and souvenir of your visit to Costa Rica is a special issue – a 5-colon bill.
The Costa Ricans have developed slang for their money. The 100-colon banknote is tejas and a 500-colon bill is cinco tejas. The slang term for 1,000-colon notes is rojo while 5,000 colones is tucán. Today, coins come in 5, 10, 20, 50 and 100 colones while Bills are in 500, 1,000, 5,000 and 10,000-colones banknotes.
Obtaining Costa Rican Colones
You can obtain Costa Rican currency from most banks. The Banco Nacional and the Banco de Costa Rica are the most common, although it can be slow and somewhat tedious. You may be better to use a private bank. All accept American dollars without commission. You can also exchange your money at the few commercial exchange bureaus as well as hotels. You might want to avoid these. They charge higher rates than the banks. ATMs are everywhere. You can locate them in major cities and border towns. They are in banks and in other forms of exchange. Take the usual precautions if you run across a “good deal” on the street. It is wiser to deal with the banks.
Protecting Your Currency
Costa Rica suffers from the usual instances of In petty crime as pickpocketing, theft of mobile phones and laptops as purse and bag snatching. Be especially alert at such places as bus stations, airports, ports, resort areas, crowded tourist spots and car rental lots. Keep your hotel room secure and never carry large amounts of cash on your person.
Specific areas of concern include the Coca Cola bus station in San José and its inner core regions. Tagets include gold watches, jewelry and wallets. Tourists should also take care when they are in the Pacific coastal areas of Jaco, Quepos, Manuel Antonio and Tamarindo and, on the Atlantic Coast, Puerto Viejo. Always be careful when you leave a bank or an ATM.
Using Your Costa Rica Colones
The colon is the currency of Costa Rica. It is the official coin of the land for all your purchases. You can use it to buy the usual tourist trinkets. You can also purchase local ceramics from San Jose, pottery from Guatitil and laminated wildlife and floral guides. You might also want to spend your colones on coffee or the local brew.
Travel Tips and Warnings
- Costa Rica has one of the highest accident rates in the world. Be careful crossing the street or driving anywhere.
- Be aware of the riptides. There are cases of drowning from unsuspecting tourists.
- Note the weather. Costa Rica has a rainy season and hurricanes.
- The country has a high level of HIV/AIDS infection.
- Be careful to rent your adventure equipment from reputable dealers.
- Visit Rincón de la Vieja National Park with its wild beauty and volcanic activity.
- Walk among the clouds at Monteverde Biological Cloud Forest Region with trails to follow, birds to see and hear and even canopy tours.
- Go to the small beach town of Playa Montezuma or bird watch at Parque del Este.
- End your trip off at the La Paz Waterfall Gardens with its suspended walkways and jungle waterfalls.
Overview
Costa
Rica is a Latin American country dependent upon tourist and exports. It
has beaches, rainforest and a mature tourist industry. You can water
raft, surf, dive, go deepsea fishing, lie on the beach or shop.
For travel information, see www.visitcostarica.com or www.tourism-costarica.com.
Currency Summary
Current currency: colones
100 centimos equals 1 colon
Coins: 5, 10, 20, 50 colones
Banknotes: 500, 1,000, 5,000 and 10,000 colones