Ira and Larry Goldberg Auctioneers
Auction 122 15-16 Jun 2021
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Bolivia. Scudo, 1838-LM (Potosi). Fr-24; KM-98. Weight 0.0956 ounce. Uniformed bust of Bolivar right. Reverse; Mountain with llama at left, sheaf at right, sun above and stars below. PCGS graded Fine-15. In special PCGS Ship of Gold holder which contains One Pinch of Gold Dust recovered from the S.S. Central America treasure.
Special PCGS number 674286.15/35474744. Estimated Value $500 - UP
In 1836, the authoritarian incumbent President of Bolivia (and former deposed president of Peru), Marshal Andrés de Santa Cruz, effected the formation of a Peru-Bolivian Confederation, which he ruled under the title of Supreme Protector. The creation of this powerful new South American federal state led to the outbreak of the War of the Confederation (1836-1839) with neighboring Chile and Argentina. In 1838, when this scudo was struck, the conflict was in its penultimate year and the situation was becoming increasingly desperate for the Peru-Bolivian Confederation. On January 12-13, a Confederate squadron and the Chilean fleet fought the indecisive battle of Islay, but by mid-year Chile had full command of the sea.
In early summer, Argentine forces invaded the bordering San Luis Valley region of Bolivia, but were defeated on 24 June 1838 at Montenegro hill. While there is no dispute that the Bolivian forces were led by the German general Otto Philipp Braun or that some of the Argentine troops defected to the Bolivians during the battle, the historiography is divided about the cause of the Bolivian victory. According to Bolivian sources, after a 20-day march, 260 Bolivian troops were able to overcome the invasion force of 800 Argentines. However, Argentine sources report that the Bolivians had a force of almost 2,000 men (mostly cavalry!) at their disposal. Regardless of whether the Bolivian victory was achieved against the odds or through superiority of numbers, it earned General Braun the honorific title, Grand Marshal of Montenegro. Unfortunately, after the Peru-Bolivian Confederation collapsed in 1839, the new President of Bolivia dismissed Braun and stripped him of his titles.
Special PCGS number 674286.15/35474744. Estimated Value $500 - UP
In 1836, the authoritarian incumbent President of Bolivia (and former deposed president of Peru), Marshal Andrés de Santa Cruz, effected the formation of a Peru-Bolivian Confederation, which he ruled under the title of Supreme Protector. The creation of this powerful new South American federal state led to the outbreak of the War of the Confederation (1836-1839) with neighboring Chile and Argentina. In 1838, when this scudo was struck, the conflict was in its penultimate year and the situation was becoming increasingly desperate for the Peru-Bolivian Confederation. On January 12-13, a Confederate squadron and the Chilean fleet fought the indecisive battle of Islay, but by mid-year Chile had full command of the sea.
In early summer, Argentine forces invaded the bordering San Luis Valley region of Bolivia, but were defeated on 24 June 1838 at Montenegro hill. While there is no dispute that the Bolivian forces were led by the German general Otto Philipp Braun or that some of the Argentine troops defected to the Bolivians during the battle, the historiography is divided about the cause of the Bolivian victory. According to Bolivian sources, after a 20-day march, 260 Bolivian troops were able to overcome the invasion force of 800 Argentines. However, Argentine sources report that the Bolivians had a force of almost 2,000 men (mostly cavalry!) at their disposal. Regardless of whether the Bolivian victory was achieved against the odds or through superiority of numbers, it earned General Braun the honorific title, Grand Marshal of Montenegro. Unfortunately, after the Peru-Bolivian Confederation collapsed in 1839, the new President of Bolivia dismissed Braun and stripped him of his titles.