Owner Comments:
'
General Comments:
The initials VN, which only appear in 1897 on 1/2 Dineros, Dineros and 1/5 Sols, correspond to the assistant assayer Vicente Novoa. Novoa took over duties in fulfilling an order to re-coin 100,000 melted Soles into small coin. This was the first year Soles were melted to mint minors. Coins with the "VN" intiials were struck between late November 1897 and late January 1898 (all dated 1897).
An overlooked date/assayer combination, overshadowed by the more common 1897 JF. The "VN" is more scarce overall compared to the "JF" and especially so in mint state. It is, however, usually available in circulated grades. Mint state coins do turn up, but patience (perhaps a lot) is needed.
Variety Discussion:
1897 VN's are only found without initials JR. For the first time since 1888 only 6 berries are seen in the branches (previously there were 7). Six berries would continue through the end of the type in 1900. 1897 JF has 7 berries.
"O" in SOL is always a bit high. Minor differences are seen in the superscript "o".
Some coins have thin assayer letters, and other thick. The thicker letters appear more crude. See photo for comparison. These exist on a continuum which is hard to quantify.
1. Thicker letters (FC)
2. Thinner letters (FC)
3. Thinner letters, 7/7 in the date (I have seen three) (FC)
4. Thinner letters, VN/VN. I have only seen on the set specimen. The under-V is up and to the left. The under-N is more directly under the top N. (FC)
Availability:
G-VF: Somewhat Common
XF-AU: Scarce
60-62: Scarce
63-64: Very Scarce
65-68: Rare, though one 66 and one 68 have been graded.
Population Report (January 2018):
NGC: One in 63; One in 64; One in 66; One in 68
PCGS: None graded
Total at both services: 4; 4 in Uncirculated; 2 in Gem or better
Value Guide:
1972 Almanzar/Seppa: F: 1.25 VF: 1.75 XF: 2.75
2009 KM: VF: 4 XF: 6 UNC: 15
Current KM: VF: 9 XF: 13 UNC: 30.50
The catalogue gives the VN a 50 cent premium over the JF. It deserves more. At least the value was raised overall and is not far off my pricing. My pricing would be as follows: VF/XF: $10-$15, AU: $20, MS 63: $40, MS 64-65: $50-$100 MS 66: $150-$250
Mintage: 744,500 (includes 1897 JF)
Auction Results:
Sedwick 6/28/2012 NGC MS 63 $70.80
Ebay 4/24/2013 Choice Fine $36.00 (WP)
Ebay 7/2/2013 1897 VN with 1911 1/5 Sol Low end UNCs 26.77 (WP)
Heritage 10/1/2013 NGC MS 68 $1,175 (see comments under set specimen)
Ebay 8/24/2014 Raw Unc MS 62/63 $32.80 (I purchased)
Ebay 2/14/2015 Choice VF $17.99
Ebay 5/22/15 Really exceptional raw toned Unc. MS 64 minimum, likely 65 or 66. Attractive. $57 (I was underbidder. In retrospect, I should have bid a lot more.)
Ebay 8/7/2017 Raw MS 62/63 $37.50 (My sale, same coin I bought 8/24/2014)
Ebay 1/29/2018 VF Some Spots $14.99
Set Specimen:
This monster coin sold on Heritage in October 2013 for $1,175. I later saw it listed as "SOLD" on a private site catering to the toned collector for (if I remember correctly) $1,895 the following year. In early 2018, it ended up in a dealer's inventory where I was able to obtain it for a reasonable price. This is the only Lima minted 1/5 Sol I have seen sell at auction for over $1,000. Only four MS 68's exist in the entire series. Two 1888's (one NGC; one PCGS, this coin, and a 1906 at PCGS).
Far and away the nicest 1897 VN I've seen, and one of the nicest 1/5 Sols out there. Heritage noted "Fiery antique rainbow tone traverses both sides with apparent luster and limited underlying disturbances. The finest graded by two graded and the example from which all others should be compared." The only marks on the coin are from die chatter, as-made, and commonly seen in this series. Really outstanding.