Owner Comments:

Ecuador - 2 1/2 Centavos - (KM #68, EC #117) - Mintage: 4,000,000

Ecuador began adopting a decimal coinage system in 1874 with the minting of one and two centavo coins at the Mint in Birmingham, England. The transition was completed on March 22, 1884 with the creation of the silver sucre coin which was equivalent to 100 centavos. The sucre remained the official unit of currency in Ecuador for 116 years until the President of Ecuador announced on January 9, 2000 that the US dollar would be adopted as Ecuador's official currency.

Ecuadorian President Isidro Ayora introduced a new monetary system in 1927 based on a reduced size, weight, and fineness sucre. In 1928, the country had the U.S. mint produce seven different denominations ranging from one centavo to two sucres. A gold Condor, (equivalent to 25 sucres) was also minted by the Birmingham mint making a total of eight different denominations minted for that year. The new sucre was nicknamed the Ayora after the President. Likewise, the new silver 50 centavos coin became known as the Lauritas after his wife Laura.

Obverse
These coins were minted for the "Republica Del Ecuador" by the Philadelphia mint, however no mint marks were used on the minor coinage produced for Ecuador in Philadelphia. Ecuador dictated the various elements that of their coat of arms, but the actual rendering of these elements by the various mints which produced their coins can vary greatly from mint to mint. In this case the central elements of the ship, water and mountain look more like an ocean going vessel sailing away from a mountainous coastline rather than the river steamship Guayas, sailing the Guayas river with the snow capped Chimborazo volcano in the distant background. There is also no Caduceus appearing as a mast on the ship, an aspect which seems to have eluded all but one mint. The following is a depiction of the 1841 steamship Guayas for comparison:

Reverse
The reverse of this coin is very simple, containing only the denomination 2 1/2 CENTAVOS surrounded by a Laurel wreath.

This coin
This coin is a beautiful, top population coin, and is very illusive in an uncirculated state. I would prefer it to be in an NGC holder, but I see no reason at this time for removing it from the PCGS holder.

Date acquired: 8/13/2014 (already graded by PCGS)

References:
Seppa, Dale and Anderson, Michael, the COINS of ECUADOR (second edition), Almanzar's Coins of the World, San Antonio, 1973.

Rev. 9/25/2017