1955

CUBA: LOT of 7 countermarked 2 reales coins of the lattice punch type

Currency:USD Category:Coins & Paper Money / World Coins - The Americas Start Price:280.00 USD Estimated At:300.00 - 500.00 USD
CUBA: LOT of 7 countermarked 2 reales coins of the lattice punch type
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CUBA:LOT of 7 countermarked 2 reales coins of the lattice punch type issued in 1841, on Spanish and Colonial host coins from Charles III, Charles VI, Ferdinand VII and Joseph Napoleon, average quality examples, retail value $600, lot of 7 coins. Owing to lack of coins on the Island of Cuba minted through the Americas, many coins of Spanish 2 reales types (colloquially called "Sevillanas") were illegally introduced. These had a lower local value of 5 to the peso versus 4 to the peso from Spanish America minted 2 reales coins. The Cuba authorities decided to accept the Spanish-minted coins to avoid scarcity of cash, but these coins were countermarked to make them legal currency. This was done in 1841 when the Spanish authorities in Cuba ordered all circulating Spanish silver to be revalued and countermarked with a lattice punch. The countermarked silver was then permitted to circulate in Trinidad, Santiago, and Puerto Principe (later Port-au-Prince). A total of 50 dies were used, 20 at La Habana, 15 at Puerto Príncipe and 15 at Santiago de Cuba.