Quintos - The 1/5 Sols of Peru
1899 JF


Obverse
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Coin Details

  

Set Details
Coin Description:
Grade: NGC MS 64
Owner: Forest City
 
Set Category: World Coins
Set Name: Quintos - The 1/5 Sols of Peru
Slot Name: 1899 JF
Research: See NGC's Census Report for this Coin

Owner's Description

The Peseta of 1880 (along with the 5 Peseta of 1880-82) was Robert Britten's masterful homage, if not faithful re representation, to the design of the U.S. Morgan Dollar by George T. Morgan, first coined in 1878. Like the Seated design of the 1/5 Sol, Britten looked to the contemporary designs flowing from the U.S. mint for inspiration. But this design, perhaps even moreso than the Seated Liberty of the 1/5 Sol, is no mere copy, but shows the creative genius of a skilled engraver. There is a reason this coin is popular, in large part due to the design detail. But what happened to the 1/5 Sol? Why a Peseta of 1880? 1880 was a year into the War of the Pacific, a turbulent time for Peru. The 1879 20 Centavo Copper-Nickel coins were only meant as a stop-gap measure, mainly to replace the fractional currency then in circulation or to make up for the lack of paper money in some departments after the burning of 2,654,000 soles of paper in July 1878. Pierola, the dictatorial leader of Peru issued a new standard for coinage in Peru. Gold was to be the standard. Because gold coins could not be minted, however, a new decree was put forth in March. It established the Gold unit of the Inca with subsidiary silver coins. One Inca was to be worth 5 Pesetas. Only a Five Peseta and One Peseta coin were ever issued in line with this ruling. Both coins being identical in size and medal content to the Sol and 1/5 sol, respectively. Small silver coins had not been produced in many years, so the Peseta was the first struck to fill that need, and a large mintage of 431,400 Pesos flowed forth. The coining of both Peseta and 5 Peseta coins came to an end abruptly by December 1880 when the approach of the Chilean army led to the closing of the mint. The assayers initials BF now, for the first time, referred to the last name of the engravers, a change that was continued when 1/5 Sols were reinstated. Even taking into account the country under threat of invaders, it's unclear why continuing the Sol and 1/5 Sol would not have accomplished the same ends for circulating coins of 1880. They were apparently part of a larger monetary idea (the Inca) which met with failure. The 1880 Peseta is plentiful in circulated grades. A nice example in XF/AU can be found without much searching. Due to the popularity of the design, and the fact that it is a one year type coin, you can expect to pay more than for a common date 1/5 Sol in those grades. In Select Uncirculated or better, the coin is a bit more scarce, although a nice example can be acquired with some patience. Generally at least one example in 63 or better will come on the market (ebay, Heritage, etc) in a given year. Main varieties: 1. B beneath ribbon under shield on reverse 2. B. 3. B. Roman 1 4. B: The B with Dot is by far the most common variety, followed by the B without Dot. The Roman 1 and B with Semicolon are reported by Flatt, unseen by the present author. Minor variations: 1. E/E in PESETA with E high 2. E/E in PESETA with E low 3. A/A in JUSTICIA 4. A/A for JUSTICIA and first A in PERUANA 5. JUSTICIA/ICIA 6. Second 8/8 7. Rotated Die Availability: G-VF: Very Common XF-AU: Very Common 60-62: Less Common 63-64: Somewhat Scarce 65-66: Scarce Population Report (March 2016): With Dot: NGC: One in VF; One in 45; Three in 55; Six in 58; One in 61; Six in 62; Four in 63; Five in 64; Two in 65 PCGS: One in 45; One in 61; One in 64; One in 63: One in 66 Total at both services With Dot: One in VF; Two in 45; Three in 55; Six in 58; Two in 61; Six in 62; Five in 63; Six in 64; Two in 65; One in 66 Without Dot: NGC: One in 50; Two in 55; One in 58; One in 61; One in 63; One in 64; Three in 65: One in 66 PCGS: One in 64; One in 66 Total at both services without Dot: One in 50, two in 55; One in 58: One in 61: One in 63: Two in 64: Three in 65: Two in 66. Total for both varieties at both services: One in VF; Two in 45; One in 50, Five in 55; Seven in 58; Three in 61; Six in 62; Six in 63; Eight in 64; Five in 65; Three in 66 Value Guide: 1972 Almanzar/Seppa: F: 1 VF:2 XF: 3 UNC: 6 Current KM: VG: 6 VF: 16 XF: 45 UNC: 150 Past KM reported: XF: 15 UNC: 45 BU: 150 Pricing is the same for with or without Dot after B. In general, KM's pricing is reasonable for this date. 16 in VF is close to accurate. In fact, it's surprising how many VG/Fine coins sell for that amount or more. 45 in XF is a bit high. 30 in XF and 45-60 in AU would be more appropriate. See below to see selling prices for certified UNC's. Currently expect to pay 125-175 for a 63, 175 to 250 for a 64, and 300-500 for a 65. Examples without Dot are more difficult and may command a higher premium in the marketplace, but it is unclear how many collectors are paying attention to the Dot versus No Dot designation. For example, the Gem Lissner specimen without Dot sold for less than a normal with Dot would usually sell for in Gem. Mintage: Unreported in SCWC, however Flatt reports 431,400 Pesos, which would be 2,157,000. A seemingly accurate number. Auction Results: Circulated: Ebay 11/23/2014 VG $14.50 (B.) Ebay 11/30/2014 ANACS AU 58 $61.27 (I bought this coin, exceptionally nice for grade, perhaps a 2/63. It sold in a lot in HA 5/1/2012 with another 58 described "ANACS grades both as AU58 but one is a jewel and the other less so." This is the "jewel". Dana Roberts collection.) (B.) Ebay 12/21/2014 Ugly cleaned XF, but with interesting die crack through entire coin $10.14 (B) Ebay 12/21/2014 Good $10.39 (B.) Ebay 12/23/2014 AU+ $62.60 (B.) Ebay 1/5/2015 VG Cleaned $16.50 (B.) Ebay 1/10 2015 VF-XF Nice toning $24.50 (B.) Ebay 1/10/2015 XFish $25.01 Ebay 1/15/2015 AU Lightly Cleaned $31.50 (B.) Ebay 1/25/2010 XFish Cleaned? $8.60 (B.) Ebay 1/28/2015 VG/F $14.27 (B.) Ebay 2/7/2015 VF Amazing Die Crack or Retained Cud 12 to 4 o'clock $61 Ebay 2/9/2015 XF Cleaned $17.49 (B.) Ebay 12/5/2015 XF+ $35 Ebay 12/13/2015 AU $38 (B.) Ebay 12/16/2015 Fine $10.50 (B) Ebay 12/20/2015 Cleaned VF/XF $17.51 (B.) Ebay 12/25/2015 XF+ $26.49 (B.) Ebay 1/3/2016 XF $11.42 (B.) Ebay 1/6/2016 AU+ $59.54 Ebay 1/7/2016 Lightly Cleaned VF $26 (B.) Ebay 1/11/2016 AU $42.04 (B.) Ebay 1/20//2016 VF Scratch $15.50 (B.) Ebay 1/24/2016 XF $38.99 Ebay 1/25/2016 Cleaned VF $20.58 (B.) Ebay 2/6/2016 VF $9 (B.) Ebay 2/6/2016 Fine $9.55 (B) Ebay 2/6/2016 Fine $13.10 (B.) Advertised as (B) Ebay 2/7/2016 VG $17 (B.) Ebay 2/14/2016 XF/AU $41.99 (B.) Ebay 2/14/2016 AU $34.33 (B.) Ebay 2/21/2016 VF/XF $37.54 (B.) Ebay 2/23/2016 VF/XF Strong damage at top $59 (B) Ebay 2/27/2016 VF/XF $34.74 (B.) Ebay 2/28/2016 AU $31 (B.) Ebay 2/29/2016 AU++/Unc $49 (B.) Uncirculated: Heritage 9/28/2007 Pair: NGC MS 64 (B.); NGC MS 63 (B. on holder, actually B:) $287.50 Heritage 1/10/2010 NGC MS 63 $132.25 (B.) Heritage 4/26/2010 NGC MS 64 $104 (B.) Heritage 2/21/2013 ANACS MS 60 Details Cleaned $55 (B) (Looks natural) Heritage 6/26/2014 NGC MS 63 $270.25 (B) (Eric P. Newman Coin - Nice Toning - But touch of wear?) Lissner Sale 8/2/2014 NGC MS 65 181.50 (B) Heritage 9/10/2014 NGC MS 65 $411.25 (B.) Heritage 1/1/2015 NGC MS 64 $258.50 (B.) Hertiage 1/29/2015 NGC MS 62 $105.75 (B.) Ebay 1/10/2015 NGC MS 61 $129 (B.) Ebay 1/16/2016 Raw Low End UNC $61 (B.) Ebay 1/10/2016 NGC Ms 62 $312! (B.) Ebay 1/18/2016 NGC MS 63 $170.22 (B.) Set Specimen: The Whittier coin! Described by Heritage in 2006 as "full frosty white mint brilliance, very rarely seen this nice." Indeed, the example is a stunner, with rich frosty original luster combined with a hint of reflectivity that is very pleasing to the eye. Very high end for a 64, could pass for a Gem. This coin has the strongest cartwheel luster of any example I have seen. Very light die lines do no detract. This is the "With Dot" and "E/E High" in Peseta varieties. 7 others in 64, 8 higher.

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