Bulgaria | 1878 – Present | Lev

The Bulgarian Lev (BGN) has been the official currency of Bulgaria since 1881, introduced shortly after the country’s liberation from the Ottoman Empire in 1878. The name “lev,” meaning “lion” in archaic Bulgarian, symbolizes strength and courage. The lev’s history reflects Bulgaria’s political, economic, and social transformations. Over the years, it has undergone four significant changes:

◇ First Lev (1881–1947): Introduced after independence, it aligned with the Latin Monetary Union.
◇ Second Lev (1947–1962): Redenominated after World War II to stabilize the economy under communist rule.
◇ Third Lev (1962–1999): Marked closer alignment with the Soviet Union during the planned economy era.
◇ Fourth Lev (1999–Present): Introduced after the economic turmoil of the 1990s and pegged to the euro.

⚜️ Evolution of Bulgarian Coins (1878–Present)

❖ First Series (1881–1947)

Denominations and Years in Circulation:
◆ 1881: 2, 5, 10 stotinki
◆ 1882: 1 lev, 2 leva
◆ 1883: 50 stotinki
◆ 1884: 5 leva
◆ 1885: 5 leva
◆ 1888: 2, ½ stotinki; 5, 10, 20 stotinki
◆ 1891: 50 stotinki; 1, 2 leva
◆ 1892: 5 leva
◆ 1894: 1, 2, 5, 10, 20, 100 leva
◆ 1901: 1, 2 leva
◆ 1906: 5, 10, 20 leva
◆ 1910: 50 stotinki; 1, 2 leva
◆ 1912: 1, 2, 5, 10, 20, 50 stotinki; 1, 2, 20, 100 leva
◆ 1916: 50 stotinki, 1 lev, 2 leva; 50 leva
◆ 1917: 5, 10, 20 leva
◆ 1923: 1, 2 leva
◆ 1925: 1, 2 leva
◆ 1930: 5, 10, 20, 50, 100 leva
◆ 1934: 50, 100 leva
◆ 1937: 50 stotinki; 100 leva
◆ 1940: 20, 50 leva
◆ 1941: 1, 2, 5, 10 leva
◆ 1943: 2, 5, 10, 50 leva

The first lev, introduced in 1881, established Bulgaria’s national currency, pegged to the French franc (1 lev = 1.8 francs). During this period, coins were minted abroad in prominent European mints, including those in England, Russia, Austria-Hungary, and others, reflecting Bulgaria’s lack of a domestic mint.
In 1952, the Bulgarian Mint was established, marking the beginning of domestic coin production.

Coins from this era reflect Bulgaria’s transition from principality to kingdom, featuring evolving designs in copper, silver, and gold. Regal imagery, coats of arms, and Cyrillic inscriptions celebrated Bulgaria’s sovereignty and monarchy, with designs heavily influenced by European styles and the country’s connection to the Latin Monetary Union.
Note: This series concludes with the redenomination in 1947, marking the transition to the Second Lev.

Principality of Bulgaria (1878–1908) and Kingdom of Bulgaria (1908–1946)
Rulers:
Knyaz Alexander I (1879–1886): Bulgaria’s first ruler after liberation
Knyaz Ferdinand I (1887–1908): Declared Bulgaria a kingdom in 1908
Tsar Ferdinand I (1908–1918): Led Bulgaria during the Balkan Wars and World War I
Tsar Boris III (1918–1943): Ruler during the interwar period and World War II
Simeon II (1943–1946): Bulgaria’s last monarch, a child ruler

❖ Second Series (1947–1962)

Denominations and Years in Circulation:
◆ 1951: 1, 3, 5, 10, 25 stotinki
◆ 1952: 20 stotinki
◆ 1954: 20 stotinki
◆ 1959: 50 stotinki
◆ 1960: 1 lev

The second lev, introduced in 1947 and redenominated at a rate of 1 second lev = 100 first levs, marked Bulgaria’s transition to a centralized planned economy under communist rule. Coins, made from copper, nickel, and aluminum, featured designs that reflected the regime’s ideals, including symbols of industry, agriculture, and collective labor. Common motifs included tools, gears, and wheat stalks, symbolizing progress and socialist values.
Note: This series is entirely within the People’s Republic period and represents the first coins issued under communist rule.

People’s Republic of Bulgaria (1946–1990)
Rulers:
Georgi Dimitrov (1946–1949): First communist leader, aligned Bulgaria with the USSR
Vasil Kolarov (1949–1950): Interim leader after Dimitrov’s death
Vulko Chervenkov (1950–1956): Strengthened communist control
Todor Zhivkov (1956–1989): Oversaw Bulgaria’s modernization under Soviet influence

❖ Third Series (1962–1999)

Denominations and Years in Circulation:
◆ 1962: 1, 2, 5, 10, 20, 50 stotinki; 1 lev
◆ 1974: 1, 2, 5, 10, 20, 50 stotinki
◆ 1981: 1, 2, 5, 10, 20, 50 stotinki; 1 lev
◆ 1988: 1, 2, 5, 10, 20, 50 stotinki; 1 lev
◆ 1989: 1, 2, 5, 10, 20, 50 stotinki; 1, 20, 50 leva
◆ 1990: 1, 2, 5, 10, 20, 50 stotinki; 1 lev

The third lev, introduced in 1962 and redenominated at 1 third lev = 100 second levs, featured designs that reflected communist ideology and incorporated materials like stainless steel. This period embraced modernist aesthetics with minimalist designs, retaining socialist motifs such as stars and national emblems. Commemorative coins began to highlight historical anniversaries and cultural achievements.
Note: The Third Lev spans both the People’s Republic era and the transition to democracy after 1990. Coins minted during the transition reflect the country’s economic instability before the Fourth Lev was introduced.

People’s Republic of Bulgaria (1946–1990) and Transition Period (1990–1999)
Rulers:
Petar Mladenov (1989–1990): Last communist leader, began democratic reforms
Zhelyu Zhelev (1990–1997): Bulgaria’s first democratically elected president

❖ Fourth Series (1999–Present)

Denominations and Years in Circulation:
◆ 1997: 10, 20, 50 stotinki
◆ 1999: 1, 2, 5, 10, 20, 50 stotinki
◆ 2000: 1, 2, 5 stotinki
◆ 2002: 1, 2, 5, 10, 20, 50 stotinki; 1 lev
◆ 2014: 2 leva

The fourth lev, introduced in 1999, was pegged to the euro to stabilize the economy after years of hyperinflation. Coins from this period emphasize Bulgaria’s rich cultural heritage, featuring landmarks, historical figures, and traditional motifs. The use of copper, nickel, and bi-metallic elements added sophistication to the designs, aligning with contemporary numismatic trends.
Note: Coins from 1997 (10, 20, 50 stotinki) were part of transitional minting but are grouped here for continuity.

Republic of Bulgaria (1990–Present)
Rulers:
Petar Stoyanov (1997–2002): Supported democratic consolidation
Simeon Saxe-Coburg-Gotha (2001–2005): Former monarch turned prime minister
Rumen Radev (2017–Present): Bulgaria’s current president

⚜️ Significance of Bulgaria’s Currency Eras

The Bulgarian Lev is a symbol of the nation’s resilience and cultural heritage, reflecting its journey through monarchy, communism, and democracy. Its designs evolved from regal imagery to socialist motifs and modern craftsmanship, showcasing Bulgaria’s history and values. Today, the lev continues to honor the past while inspiring pride in Bulgaria’s cultural and historical identity, making it a timeless link between generations.

⚜️ Key Features of Bulgarian Coin Denominations by Era

❖ First Lev (1881–1947)
◇ Materials: Gold, silver, copper.
◇ Designs: Monarchic symbols, coats of arms, Cyrillic inscriptions.
◇ Minting: Coins were produced in prominent European mints due to the lack of a domestic mint.
◇ Denominations: Ranged from small values like 1 stotinka to high-value 100 leva coins.
◇ Significance: Represented Bulgaria’s sovereignty and alignment with European monetary standards.

❖ Second Lev (1947–1962)
◇ Materials: Copper, nickel, aluminum.
◇ Designs: Simplified motifs featuring industry, agriculture, and collective labor.
◇ Minting: Marked the first coins issued entirely under communist rule.
◇ Historical Context: Reflected Bulgaria’s transition to a centralized planned economy after World War II.
◇ Significance: Focused on collective progress, reflecting post-war austerity and socialist ideals.

❖ Third Lev (1962–1999)
◇ Materials: Stainless steel.
◇ Designs: Minimalist circulation coins; commemorative issues celebrated leaders and cultural milestones.
◇ Production Milestone: Featured coins minted domestically after the establishment of the Bulgarian Mint in 1952.
◇ Significance: Highlighted national identity during Bulgaria’s transition from communism to democracy.

❖ Fourth Lev (1999–Present)
◇ Materials: Copper, nickel, bi-metallic elements.
◇ Designs: Intricate patterns featuring landmarks, historical figures, and traditional motifs.
◇ Denominations: Includes bi-metallic coins like the 1 and 2 leva, aligning with modern European standards.
◇ Historical Context: Introduced after hyperinflation of the 1990s and pegged to the euro.
◇ Significance: Celebrates Bulgaria’s cultural heritage and reflects economic stability and modernization.

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