Heritage World Coin Auctions
NYINC Signature Sale 3037 Sess. 1 4 January 2015
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Chile
Republic Peso 1883-So (1925?) MS64 NGC, Santiago mint, KM142.3. Choice Mint State with full mint brilliance, thus conditionally rare. The very scarce Flat Top "3" variety of the 1883 date, traditionally described as struck in 1925-26 to pay the monetary compensation after Chile kept the occupied city of Arica while returning that of Tacna to Peru (both had been occupied since Chile's victory in the Pacific War that started in 1879). Said compensation was of 6 million dollars, with the dollar being equivalent to the old Chilean Peso (the latter had suffered successive reductions in value since 1895 and was in worth 20% of its original value by 1927), while the 1883 date is that of the Peace Treaty of Ancon under which both countries agreed to settle the Tacna/Arica matter under a plebiscite. Nevertheless, since the mentioned partition was only agreed by the treaty of Lima signed in 1929 instead of 1925, it appears more likely that these coins were struck in the former year. In any case, the vast bulk of these were naturally melted (since the old Chilean Peso was no longer legal tender) thus creating a very scarce subtype. This example ranks among the finest seen by the cataloger and is very desirable as such. No examples have been graded higher by NGC, and only three have reached this MS64 level.
Estimate: 2500-3000 USD
Republic Peso 1883-So (1925?) MS64 NGC, Santiago mint, KM142.3. Choice Mint State with full mint brilliance, thus conditionally rare. The very scarce Flat Top "3" variety of the 1883 date, traditionally described as struck in 1925-26 to pay the monetary compensation after Chile kept the occupied city of Arica while returning that of Tacna to Peru (both had been occupied since Chile's victory in the Pacific War that started in 1879). Said compensation was of 6 million dollars, with the dollar being equivalent to the old Chilean Peso (the latter had suffered successive reductions in value since 1895 and was in worth 20% of its original value by 1927), while the 1883 date is that of the Peace Treaty of Ancon under which both countries agreed to settle the Tacna/Arica matter under a plebiscite. Nevertheless, since the mentioned partition was only agreed by the treaty of Lima signed in 1929 instead of 1925, it appears more likely that these coins were struck in the former year. In any case, the vast bulk of these were naturally melted (since the old Chilean Peso was no longer legal tender) thus creating a very scarce subtype. This example ranks among the finest seen by the cataloger and is very desirable as such. No examples have been graded higher by NGC, and only three have reached this MS64 level.
Estimate: 2500-3000 USD