Owner Comments:
The 1870 Dinero comes with a host of reported varieties, but try not to be daunted. Most coins fall within two main varieties, see my summary below. The 1870 is only somewhat scarce in circulated grades. If condition is no concern, finding an example is simple. These were not saved in mint state, however, and finding a nice Uncirculated 1870 is very difficult.
This was the first year of the assayer initials "YJ" on the Dinero. The "J" stands for Jose Agustin Figueroa. He replaced Bernardo Aguilar (The B in YB). Figeuroa served until 1907.
Flatt reports the following varieties:
1. 1870 YJ - He notes that the dies may simply be too worn to show the J/B.
2. 1870 YB - Flatt did not own this coin, and it may not exist. I have not examined the original source reporting this coin.
3. 1870 YJ J/B
4. 1870 YJ J/B F/E in FELIZ
5. 1870 YJ/YB
6. 1870 7/6 J/B period over period between initials
7. 1870 7/6 YJ/YB low 0 in date
8. Same as (7) but with a period over period between initials.
Krause reports:
1. 1870 YJ (same as Flatt)
2. 1870 YJ/B (same as Flatt)
3. 1870/60 YJ - Flatt does not list this overdate without over-lettering
4. 1870-60 YJ/YB (same as Flatt, except that Flatt correctly calls it 7/6, not 70/60)
5. 1870/69 YJ/YB - This is nonsense.
I have found that the "70" in the date may be re-punched 70/70 while also a 7/6. I have also seen one coin with "18" higher than "70". Every 1870 I have seen has a 7/6. Most of the time the "6" is bold, occasionally it is weak. Every coin I have seen also has a "J/B". When the Y is over a Y, it is obvious, with the under "Y" jutting out below.
Flatt states in Volume II of "The Coins of Independent Peru" that "no one dinero coins of 1870 are known in which there is just simply the initials YJ rather than Y J/B".
So, the main two varieties as I have seen them are:
1. 1870 7/6 J/B (may have re-punched "70)
2. 1870 7/6 YJ/YB (often with period over period)
While there may be other varieties as listed above, it would appear that all coins are at minimum J/B, and most all have the 7/6. A 70/60 or 70/69 as listed in Krause are unlikely to exist, as no Dineros were made in 1860 or 1869. My associate does claim to have two no 7/6 1870 Dineros. I will report back with more information after I am able to examine them myself.
Values in the catalog are a mess. In MS 60 they assign $17 to the YJ/B and nonsensical 1870/69 YJ/YB. $20 goes to the plain date that likely doesn't exist. And $47 for the 1870/60 YJ and $52 for the 1870/60 YJ/YB are given. The later variety is the most common, yet has the highest price. That said, the lower prices are too low for this coin, and $52 in MS 60 would be more appropriate.
All graded are at NGC. On in MS 61 (1870/60 YJ/YB), four in MS 63 (one regular, one 1870/60 YJ/YB, one YJ/YB). Five total in mint state.