Set
Category:
World Coins
Set Name:
Quintos - The 1/5 Sols of Peru
Set Description:
There are many exceedingly difficult dates in this overlooked series, and cases where there is only one (or no) certified example. A lifelong project most likely.
1/5 Sols by Type
- Type 1: 1863-1875. Earliest form of Seated Liberty. 5 DE SOL appears curved. Ribbons appear from wreath on reverse.
- Type 2: 1885 A.C. (Arequipa): Similar to Type 1, but all elements more crudely engraved
- Type 3: 1886-1892: Fully revamped design. Make-over of Ms. Liberty includes: "5 DE SOL" in straight line. LIBERTAD excuse. No ribbons coming from wreath. Reduced number of berries
- Type 4: 1893-1900: Libertad is incuse. Large "L" in SoL. Rounded top, rather than flat top to "1" in date.
- Type 5: 1901-1910: Subtle changes to Liberty. "Libertad" in new larger font" Initials "JR" will no longer appear. Flat Top to "1".
- Type 6: 1911-1917: Coins of this type sometimes have an "R" to the left of the shield. Liberty's ponytail is pointy at bottom end, rather than flat.
How To Use The Registry
My set includes research that is meant to function as an online book for collectors of the series. For each coin, detailed information is given for the following areas:
1. General Comments: Gives a quick overview for the date.
2. Overdates/Varieties: Gives a list of known overdates and minor varieties for the date, as well as further discussion when warrented.
-- When a given variety is not mentioned by Horace Flatt in his "Coins of Independent Peru: Volume VI", the initials (FC) are given to denote it's my personal discovery.
3. Availability: A quick glance at rarity by grade level.
4. Population Data: Summaries of all coins graded for the date at PCGS/NGC.
5. Value Guide: Reports published price data for the 1972 Almanzar/Seppa guide and recent Krause prices. Followed by a discussion of these prices and my own valuation estimates.
6. Mintage: If a mintage is known, the number is given. Many coins don't have reported mintages, however,
7. Auction Results: Reports a selection of auction data I have recorded for each date. Be aware that this is only a selection of what I have seen. Some sales have been missed, and private sales largely go unknown.
-- (WP) Denotes auction data found on the Worthpoint website. It is imperative to remember that these figures do NOT include shipping costs, which can sometimes be substantive, especially if the coin is being sold from a non-US market. Thus, an auction result of 11.99 may in reality be 18.99 with 7 dollar shipping.
-- Most other auction data comes from a year I spent recording end results from ebay from Summer 2015 to Summer 2016. I also try to include auctions from Heritage and other auction houses when applicable. My data INCLUDES shipping cost, but remember that sometimes multiple won lots may ship at reduced shipping costs.
8. Set Specimen: Detailed description of my personal set coin and it's relative placing in the population report.
Set Goals:
To acquire a complete set by date, featuring the finest quality available.
I try to give a detailed analysis for each date listed. Given the paucity of research and information on Peruvian numismatics, I hope this will be of help to anyone interested in the series.
Why Peruvian 1/5th Sols?
The United States Seated Liberty series was appealing from a young age., especially the 1/2 Dimes and Half Dollars. But the cost of a high end set (or even low-end) can be prohibitive. I owned a One Sol coin in my youth, which cost only bullion value at the time, about $4. I liked this coin, and the design, but considered myself a "US" collector.
Looking at the Peru Seated Liberty denominations:
1/2 Dinero: I love the design of the early (1863, 64) coins. It's probably my favorite design of any of the Seated Liberty series. But the later dates (which comprise most all of the series) aren't as attractive. While some dates are genuinely scarce, there are a few "hoard" coins like the 1897 JF,, 1903, and of course 1916. Often 1/2 Dineros will have severe die polishing marks, which the grading services don't mark down for. Yet, in terms of eye appeal, they can be very distracting.
Dineros: After the 1/5 Sols, this is my favorite series. But they are almost noncollectable. I have a few nice Top Pop's, but other than a few common dates like 1904 or 1916, a high end set of Dineros is a formidable challenge. Even the common 1916 is much more scarce compared to it's smaller counterpart.
1/5th Sols: Fairly easy to collect in circ, a high end uncirculated set is exponentially more difficult. 1/5 Sols, when toned, tend to have the most interesting and beautiful toning of any of the series. Collecting this series has taught me to appreciate uncirculated coins that aren't "blast white".
1/2 Sols: I'm not a big fan of the billon Sols and 1/2 Sols, given their dull look and poor strikes. Which leaves the 1/2 Sol with only with only 8 dates to collect.
Sols:
History:
Background to 1/5 Sols:
The monetary situation was dire in 1850's Peru. Bolivian debased coins, or "Moneda Feble" made up the bulk of circulating coin in the country, counterfeits of good Peruvian coin were rampant (due to an overly simple design that wore quickly, counterfeits were not much of a challenge to pass), and technical problems plagued the mint in Lima. What .903 fine silver coin was struck by Peru was mostly exported to foreign markets, leaving the country awash in debased Feble. Peru's neighbor to the South, Chile, moved to a Decimal monetary system in 1852, a move that cause the wheels of change to slowly churn in Peru.
For many years the country bickered about how best to amortize the Feble. Various new policies were enacted to clean up the Peruvian money. New minting equipment arrived from the US in 1855 so as produce more uniform coins. The Pasco mint was shuttered in order to focus efforts at uniformity in Lima. Importantly, in 1858, a talented engraver was hired from Great Brittan. Only 25, Robert Britten, a former apprentice and teacher at the Birmingham Mint, brought expertise that was sorely lacking in the engraving department. He was to be the engraver for most of the designs you will see in this set.
The Patterns of 1855 were the first step towards a more uniform coinage. These were struck in the United States, the first foreign coins ever struck here. Included among the new denominations was the 20 Centavos, the precursor of the 1/5 Sol. This coin was to replace the contemporary 2 Reales coin. The patterns never came to circulating fruition.
The law of 1857, though never fully implemented, was the important next step. It was proposed to stop accepting the Feble at nominal value. There was to be a new Decimal coinage of 100 Centisimos to the Peso. The 20 Centavo piece was to be the "Peseta", a term resurrected in 1880.
The coinage struck in semi-accordance with the Law of 1857 are now known as the "Transitionals". First came the 1858 1/2 Real and 50 Centimos, of the old "Peso of Castilla" design. These were struck from hubs produced in the US. These coins brought a premium in the marketplace and were quickly exported making little dent in Peru's monetary crisis. Next came the 50 Centavos of 1858-59. Because silver was on the rise, these were also largely exported.
Early in 1859 the 25 Centavos was released. It is unclear why Peru moved to a coin valued 25/100 rather than 20/100. They coin is very scarce in circulated grades, and rare in Uncirculated. 1/2 and Real coins of 1859 to 1861 were then also struck.
The transitionals were both success and failure. Largely more uniform than the previous circulating coinage, these new designs largely thwarted counterfeiters. However, a great many varieties about with these coins, with varying weights being reported.
Owner:
Forest City
Signature Set Details:
| 1855 MB Pattern Proof 20 Centimos |
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| 1859 YB 25 Centavos (Transitional) |
| NGC | |
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| 1863 YB |
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| 1864/3 YB-DD |
| NGC | |
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| 1865 YB |
| NGC | |
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| 1866 YB |
| NGC | |
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| 1866/5 YB |
| PCGS | |
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| 1867 YB |
| NGC | |
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| 1869 YB |
| NGC | |
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| 1871 Moyaux-439 |
| NGC | Peru |
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| 1874 YJ |
| NGC | |
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| 1874 YJ/YB |
| NGC | |
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| 1874 YJ "DE Low" |
| NGC | |
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| 1875 Intermediate YJ |
| NGC | |
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| 1875 Wide YJ |
| PCGS | |
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| 1879 20 Centavos |
| NGC | |
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| 1880 Peseta w/Dot |
| NGC | |
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| 1885 AC Arequipa |
| | |
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| 1886 Proof |
| | |
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| 1888 TF |
| NGC | |
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| 1888 TF |
| NGC | |
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| 1889 TF |
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| 1890/90 TF |
| NGC | |
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| 1891 TF |
| NGC | |
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| 1892 TF |
| PCGS | |
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| 1893 TF-JR |
| NGC | |
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| 1896 TF-JR |
| NGC | |
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| 1896 F |
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| 1897 VN |
| NGC | |
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| 1897 JF |
| NGC | |
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| 1898 JF |
| | |
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| 1899 JF |
| NGC | |
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| 1900/800 JF |
| PCGS | |
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| 1901/1 JF |
| PCGS | |
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| 1903/3 JF |
| NGC | |
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| 1906 JF |
| NGC | |
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| 1907 JF |
| NGC | |
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| 1907 FG |
| NGC | |
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| 1908/7 FG |
| NGC | |
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| 1909 FG |
| NGC | |
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| 1910 FG |
| | |
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| 1911 FG-R |
| NGC | |
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| 1912 FG-R |
| NGC | |
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| 1913 FG-R |
| PCGS | |
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| 1914 FG |
| | |
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| 1915 FG |
| NGC | |
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| 1916 FG R |
| NGC | |
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| 1917 FG R |
| NGC | |
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