Stack's Bowers & Ponterio
January 2018 NYINC Auction 11-13 Jan 2018
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CHILE. Peso, 1817. NGC AU-50.
KM-82.1; El-78; Jara-Pg. 4, figure 3 (Extremely Rare). EXTREMELY RARE one year type without assayer and centered legend produced for less than a month. Quite a number of the 1817 issues, including the Spanish colonial types were produced by the assayers Francisco Rodriguez Brochero and Jose Maria de Bobadilla (resigned his post 17 June 1817 and fled the country). The old belief was that Republican coinage dated 1817 was actually struck in 1818 after the battle of Maipu April 5th, 1818. The battle effectively destroyed the Spanish forces near Santiago and ended the Chilean War of Independence. Supposedly at this point the Republicans decided to retroactively date their coins 1817 to emphasize their sovereignty as a Republic that year.
KM-82.1; El-78; Jara-Pg. 4, figure 3 (Extremely Rare). EXTREMELY RARE one year type without assayer and centered legend produced for less than a month. Quite a number of the 1817 issues, including the Spanish colonial types were produced by the assayers Francisco Rodriguez Brochero and Jose Maria de Bobadilla (resigned his post 17 June 1817 and fled the country). The old belief was that Republican coinage dated 1817 was actually struck in 1818 after the battle of Maipu April 5th, 1818. The battle effectively destroyed the Spanish forces near Santiago and ended the Chilean War of Independence. Supposedly at this point the Republicans decided to retroactively date their coins 1817 to emphasize their sovereignty as a Republic that year.
This of course is incorrect as research conducted by Carlos Jara and Emilio Paoletti published in 2006 discovered through scouring archival documents that the types with no assayers letters such as the present example were in fact the second issue from this series. On 28 July 1817 a decree was issued stating that unless you were a Chilean citizen your employment at the mint was suspended. This included all facets of production even the position of assayer. However, during the time the mint had no assayers, the mint was still in production. This matter was dealt with quickly and because of his importance to the mint Francisco Rodriguez Brochero was re-instated which took about one month. After his reinstatement sometime in August 1817 the second assayer Diego Portales was hired on 9 October 1817. This means from the time that Sr. Brochero was re-instated he must have reverted back to using the old dies with Assayers "F" and "J" which would have changed after Diego Portales came into office.
Well struck with deep old cabinet tone in the open fields and atop the devices with lovely red and golden hued tone highlighting the design features. A great piece that is many times rarer than any of the other 1817 issues including colonial or Republican and a KEY DATE to series.
NGC AU-50.
From the Alex Siegel Collection
Ex: Tarapaca Collection.
Ex: Freeman Craig Family Collection.
Estimate: $5000.00- $7000.00