Watch List notes:

CHILE. Peso, 1817-SANTIAGO FJ. Santiago Mint. NGC MS-62.
KM-82.2. Mintage: 132,319 (all varieties including royalist issues). Variety with "Y" to the left of pillar. A choice example of the first 'Volcano' Peso date, this example showcases luster that is rarely rivaled in the series, along with fields that are shockingly mark-free for the grade. Almost white, it is worth noting a sprinkling of tone that mostly confines itself to the peripheral legends. While commonplace for the type, several instances of incompleteness at the very tops of the designs undoubtedly prevent a significantly higher graded.

While widely recognized as one of the most iconic crown-sized issues of Latin America, the symbolism behind the motifs of this charming type are rarely discussed in catalogs. Conceived towards the beginning of its fight for independence from Spain, the first shield of the Chilean independence movement, which incorporates many of these designs that would eventually appear in the national coinage, was unveiled on September 30, 1812. It included familiar iconography such as a mountain and a globe-topped column with star above. As the decade progressed, this mountain would transform into a volcano, becoming a focal image in ephemeral objects such as flags. On the coins, the four principle motifs are the following: the volcano, the column, the globe and the star. While the meaning of some of these symbols may seem quite clear, others remain open for debate.

The Volcano - While obviously a nod to the region's geography, scholars in the field believe that this design feature is largely influence by freedom fighter Bernardo O'Higgins. It is believed that in his desire to distance from the figure of kings, he pushed for the erupting volcano as a symbol of the unstoppable force of the rebellion.

The Column - Many interpretations have been given for this focal object, but perhaps the most accepted is that it is an reinterpretation of the "tree of liberty" that was referenced by Thomas Jefferson during the American Revolution when he said, "the tree of liberty must be refreshed from time to time with the blood of patriots and tyrants". While an obelisk is often used to represent this in American symbolism, the column too represents the same permanence and desire for freedom.

The Globe - Perhaps an afterthought for many, the globe that sits atop the column has been present since earliest inception, thus it's inclusion is rather intentional and should not be overlooked. That said, most agree that it's cumulative meaning is intended to convey the image of perfection and totality.

The Star - Like the globe, the star, which appears over the column and globe, dates back to Chile's first desires for sovereignty. Sometimes radiant and other times not, many interpretations suggest that is has religious context in alignment with the country's people. In a broader sense however, many see it as a unifying character and a symbol of spirit. Whatever its true intention however, it is inextricably linked to independence.

From the Matthew Orsini Collection.

Estimate: $2000.00- $4000.00