Uruguay’s official name, República Oriental del Uruguay (Eastern Republic of Uruguay in English), derives from the country location being at east (orient) of Uruguay river, which is the frontier to Argentina. Uruguay is the 2nd smaller country in South America, with a population slowly reaching 4 million people. Its main income is based on agriculture and livestock breeding, and some tourism in the short summer (3/4 months). It has a sub-tropical climate, with no snow in winter, nor extreme cold or hot weather all year long. Numismatic history of Uruguay starts in 1831, when the Government decided to use the already demonetized coins “Décimo de Buenos Ayres” issued on 1822 and 1823, by half its value. Few years later, started production of coins in 1840 at Agustin Jouve’s workshop in Montevideo. He was a French engraver and weapon maker, and supply problems due to civil war in the country, prevented many coins were minted. Production of coins continued with issues in 1843, 1844, 1854 and 1855 from Montevideo Minthouse. It included the 1844 1 Peso Fuerte, the only silver coin minted in the country and first in the region, and a gold pattern of 40 Reales in 1854. No more coins were minted in Uruguay after that time. So far, Uruguay had 4 currencies, Peso Fuerte (Real system) 1830-1862; Peso (Decimal system) 1863-1975, Nuevo Peso 1975-1993, and currently Peso Uruguayo since 1993; the 2 last were needed to control inflation, and each was a transformation of the previous one at a rate of 1,000:1. In 1992, a bullion coin “Gaucho” was issued based on an ounce of gold.