CLASSIC LATIN AMERICAN RARITYRepublic Coquimbo Peso 1828-TH, KM88, WR-10, Eliz-98, XF45 NGC. One of Latin America's most intriguing coins, the Coquimbo Peso has been subject to heated discussions for decades. There are two types recognized of this issue, some scholars name them "A" and "B" while others label them "Fine" and "Crude". While there have been discussions over the originality of type "B" Coquimbos (or "crude"), type "A" is unquestionably authentic and struck in the 1820's as it is recorded that one of such pieces was donated to the Bank of England in the first half of the 19th century. The coin presented here is a type "A" (or "Fine") coin with all the matching die characteristics which are listed by scholars on type. The slight die break is visible on the obverse starting on the letter "E" in "Chile" and descending towards the volcano smoke. The letter "C" in "Coquimbo" is identical to the one in "Chile", as is the letter "N" in "Union" and "Independiente" and the digits "8" on the date. Additionally, the final "O" of Coquimbo seems a bit larger and higher than the rest of the letters and as are both letters "U" in "Union" and "Fuerza" on the reverse. Additional die matches include the doubling of the "P" in Peso (or shadowing) as well as a very thin vertical line inside the "B" of "Coquimbo".
As it is usual of type "A" Coquimbo Pesos, this piece has excellent lightly reflective surfaces and detail with even gray toning on both sides. Very few coins were produced at the Coquimbo Mint, mostly due to bureaucratic rejections from Santiago making it a major rarity and highly desirable to Latin American or World Crown collectors. The Millennia piece graded MS64 by NGC realized $138,000 in May 2008.
From The Tarapaca Collection of Chilean Coins
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