Owner Comments:
The copper-nickel 1879 20 Centavos (75 percent copper/25 percent nickel) is far and away the most difficult coin in the short-lived "Moneda-Provisional" series of 1879-1880. The 5 Centavos and 10 Centavos coins are widely available in all grades short of Superb Gem. These coins were minted in Brussels, not Peru.
The purpose of this Provisional base-metal coinage was to replace fractional currency in the marketplace or to serve as a stop-gap measure for those areas suffering from lack of small coin. And small coin was extremely scarce. The last 1/2 Dinero and 1/2 Sol's were minted a decade and a half earlier, 1/5 Sols had not been minted for 4 years. The small mintage of Dineros in 1877 was the last small coin produced. And what good 90 percent silver Peruvian money remained was being exported rather than circulating in the country. These base-metal coins were more likely to stay in circulation.
Why are the 20 Centavos rare? Soon after the first shipment arrived from Brussels, reports began surfacing that 20 Centavos counterfeits were being passed. The government reacted by suspending minting of these coins and melting those still in government hands. Circulated examples are occasionally available, although often seen with problems. A long wait may be in store for those seeking an Uncirculated specimen. The 20 Centavos seems to usually come with muted luster.
Availability:
G-VF: Scarce
XF-AU: Scarce
60-62: Difficult
63-64: Very Difficult
65+: Rare
Population Report (Jan 2015):
NGC: One in 63; Two in 64; Two in 65
PCGS: None Graded
Value Guide:
1972 Almanzar/Seppa: VG: 1.50 F: 2.50 VF: 3.50 EF: 5.00
Current KM: VF: 8.50 XF: 20 UNC: 55
Pricing high end examples is difficult due to the paucity of coins in the marketplace. A best estimate for 63-64: 75 to 125 and Gem: 125-250. The Lissner coin sold for a very healthy amount. I obtained my coin at a lower price point.
Mintage: 498,000
Auction Results:
Heritage - 4/26/2010 NGC MS 64 $74
Lissner Sale - 8/2/2014 NGC MS 65 $302.50 (Lissner coin - then the only Gem)
Ebay - 12/5/2015 - VF+ with ugly toning $8.50
Ebay - 1/20/2016 AU Holded $10.99
Set Specimen:
The NGC Price Guide plate coin. Tied for finest known with Lissner coin (my coin is more attractive). Very clean surfaces with light patina. Thanks go out to my collector friend from Miami for helping me secure this coin.
Photographs copyright Numismatic Guarantee Corporation.