CUBAN NUMISMATIC ASSOCIATION                  NEWSLETTER 2-07

WWW.CUBANUMIS.COM

Frank Putrow  (04)– President                                                                   April 2007

Andres Rodriguez (04) – Vice President                                                    Editor – Frank Putrow

Vacant – Secretary                                                                                      Fxputrow@aol.com

Robert Freeman  (04)– Treasurer

Board of Directors – Richard Becker (04), Larry Casey (04), Stan Klein (04), Emilio M. Ortiz (04) and Rudy Valentin (07).                                                Parliamentarian – Larry Casey.                         Chairman Communications Committee – Stan Klein.  Chairman Nomination Committee – Vacant.    Chairman Finance Committee - Emilio M. Ortiz.         Chairman Historical/Research - Open

 

Cuban Numismatic Association is a member of:

Florida United Numismatists (FUN) – www.funtopic.com

American Numismatic Association (ANA) – www.money.org

American Numismatic Society (ANS) – www.numismatics.org

Latin American Paper Money Society (LANSA) – www.lansa.bz   Check website for variety of

          Cuban currency for sale.

 

NEWSLETTER INDEX

Page 2          CNA ANNUAL MEETING HELD JANUARY 6, 2007.   

Page 3          CNA NOW 501(c)(3) TAX EXEMPT.

Page 3-4       ORDER YOUR CNA COMMEMORATIVE COIN NOW. TIME IS RUNNING OUT.

Page 4           MEMBER PROFILE.

Page 5-6       CUBAN TOKENS (part 2), by Rudy Valentin, Director and charter member # 022.

Page 8-12     NGC and PCGS POPULATION REPORT, by Enrigue Cayado, charter member # 005.

Page 12-14   RECENT AUCTION RESULTS OF CUBAN COINS.

Page 14-16   THE 1869 PAPER MONEY ISSUES OF THE REPUBLIC OF CUBA, by Enrique  

                     Cayado, charter member # 005

Page 16-18   LETTERS TO THE EDITOR.

Page 18-19   CNA NEWSLETTER ARTICLE INDEX

Page 19-20   FROM THE KITCHEN

Page 21-24   WANT ADS   

Page 25         MEMBERSHIP APPLICATION

 

CUBAN NUMISMATIC ASSOCIATION (CNA) CONVENED AT FUN 2007 COIN SHOW IN ORLANDO, FL. ON JANUARY 6, 2007.

The Fourth Annual (Third Anniversary) CNA meeting was held in Room 220B on Saturday, January 6, 2007. The Board meeting was held at 10:00am, and the General meeting was held at 1:30pm. Approximately 30 members and guests attended the General meeting.

After introductions and the reading of the 2006 General meeting notes by President Frank Putrow, Treasurer Bob Freeman read the Treasurers report, followed by Stan Klein, who updated the membership of enhancements on the CNA website.

Pertinent issues:

Membership stands at 149 with 90 current in their 2006 dues.

Treasury currently is $3874, including unsold silver CNA Commemorative coins. Sixty one of the 150 serialized coins, and 32 of the 50 non-serialized coins had been sold. The CNA Board decided that any unsold serialized coins will only be sold to the member with the associated number at this time.

Miami Chapter of the CNA has been dissolved due to organizational issues, but may be re-established at a later time.

New designed plastic enclosed membership cards will be given to all members who are current with 2007 dues. They replace the paper certificate used from 2004-2006.

Bob Freeman gave an interesting presentation on IRS status 501(c)(3), which was recently awarded to the CNA. Essentially, the CNA is now a “non-profit” organization, and all donations to the CNA are eligible for IRS Form 1040 deductions. See the following article for additional information. His presentation included feedback from attendees and door prize tickets were handed out.

Member Jorge Rodriquez gave a short summary of his unusual escape from Cuba in 1992, in a crop duster plane.

Two recommendations were made to fill the vacant CNA Director position, previously held by Enrique Cayado. Members Rudy Valentin and Paul Karon were nominated, with no additional nominations offered from the floor. Rudy Valentin was elected by show of hands. Special thanks to Cayado, and the two nominees for their interest and contributions to the CNA.

OF SPECIAL INTEREST was a display of Cuban 19th century bank notes, bonds, etc. by Richard Becker and Larry Casey. Becker did not attend the meeting due to sickness of a family member, so Casey gave the informative presentation on these items without assistance. The presentation encompassed many notes that the membership had not seen before, and the discussion continued after the meeting was adjourned.

After the meeting 7 door prizes were awarded to lucky purchasers of the 50/50 tickets. The last drawing was for $61.50 (50% of the ticket sales), and the winner was Dan Seip. The balance of the 50/50 went to the Good of the Club fund.

Forty one items were then auctioned off, including 14 whose proceeds were for the Good of the Club fund.

 

 

 

 

 

 

 

CNA IS NOW CLASSIFIED AS 501(c)(3), a TAX EXEMPT Organization.

Thanks to the efforts of our Treasurer, Bob Freeman, including multi-page filings and subsequent submissions, the Internal Revenue Service (IRS) has granted the CNA a 501(c)(3) classification

In short, the IRS stated in their July 18, 2006 letter, that:

“We are pleased to inform you that upon review of your application for tax exempt status, we have determined that you are exempt from Federal income tax under section 501 (c)(3) of the Internal Revenue Code. Contributions to you are deductible under section 170 of the Code. You are also qualified to receive tax deductible bequests, devises, transfers or gifts under section 2055, 2106 or 2522 of the Code.

Organizations exempt under section 501(c)(3) of the Code are further classified as either public charities or private foundations. We determined that you are a public charity under the Code section(s) listed in the heading of this letter”.

The CNA is proud to have been granted this classification. It is rare that an association, such as ours, would file, and also be granted such a status. The significant benefit is that donations, which are crucial to our future plans, will be tax deductible to our benefactors. The CNA, on the other hand, must continue to demonstrate that our primary focus is education.

 

 

 

 

 

 

ORDER YOUR CNA COMMEMORATIVE COIN NOW.

TIME IS RUNNING OUT!!!!!!!

 

Orders are being accepted at this time. The coins are $20.00 each, and SH&I will be an additional $2.50 per coin in the USA. SH&I to countries outside of the USA is $11.00. Only a handful of the non-serialized coins are left. Members are limited to one serialized coin at this time, which will be their CNA member number. Members who have not responded may lose their opportunity, when the CNA Board addresses the remaining serialized coins next January.

The coins may be ordered using the form provided below. Checks should be made out to Cuban Numismatic Association. If paying by Paypal, please address the payment to Fxputrow@aol.com, and I will convert the payment to our CNA checking account. Please add an additional dollar if paying by Paypal, to cover the Paypal fees. Please mail check to: Frank Putrow, 2175 Oak Grove DR., Clearwater, FL. 33764.

 

Cut here----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Please Print

Name_____________________________________________   Member serial number (          )

Address___________________________________________    Check # ________

             ___________________________________________

Telephone number __________________________________ Email address_________________

Order:  Serialized Coin @ $20. Please circle   YES    NO                                       $_____________

            Non-serialized coin(s) @ $20 each. Quantity _____                                    $_____________   

            SH&I $2.50 each (USA only).

            $11.00 SH&I to foreign countries + $1.50 each additional coin.

            Please contact Frank Putrow at Fxputrow@aol.com or 727 5317337

            for SH&I if shipment is more than 3 coins in the USA.                               $_____________ Total amount enclosed:                                                                                             $_____________

 

MEMBER PROFILE

Since the membership of CNA is so diverse, and separated geographically, it may be feasibly impossible for our members to meet and get to know one another. This section will highlight a member, or members, in each newsletter, providing a brief background of the person(s), so the membership may know a little about the person(s). It will be 100% voluntary. The officers and board members will be given first opportunity to provide their background, followed by the charter, then the regular members.

 

                 Rudy Valentin, Charter Member 022, and recently elected CNA Director.

Rudy was educated at LaSalle University, Chicago, and at Puerto Rico University. He is a veteran of the US Coast Guard, and served in various responsibilities in the US Navy, Air Force and the Space Center in Houston, Texas. His business experience was executive management in various multi-national distribution and export companies, as well as his own company.

 

He began collecting coins in 1944, and became a serious numismatist in 1963. He collected Spain, Puerto Rico, Cuba, the Caribbean Antilles, Mexico, and the United States. He has done much research and writing on these subjects, and still plans to complete his research on the “Mini Coins of the World”. His writings include various articles in the ANA Numismatist, the Cuban Numismatist Association Quarterly newsletter, and Numiexpo Digest. He has also spoken on numismatics at schools, clubs, Rotary International, and media talk shows.

Currently a dealer, he is a member of the ANA, Puerto Rico Numismatic Society, Los Reales Numismatic Fellowship, and was a member of the now defunct Cuban Numismatic Society in Exile. He is also a member of FUN, LANSA, Clearwater (FL) Coin Club, and the Tampa Bay (FL) Coin Club.

He has put together extensive collections of Cuban coins, medals, paper money, tokens, and documents. His other collections were a combination of Spain, Mexico, Puerto Rico rarities, as well as a complete US dollar type set.

Rudy has provided your editor with substantial information on Cuban tokens, which will be used in the upcoming newsletters.

CUBAN TOKENS – Part Two

by Rudy Valentin, CNA Director and Charter member.

Every country in the world has had, at one time or another, the necessity to issue what we call tokens, or private unofficial coinage. There are many reasons, but all have the same purpose; to benefit an individual or entity.

Cuba was a Spanish colony which suffered the most for lack of official minor coinage. The colonists (military, as well as tobacco and sugar plantations) took advantage of this situation, and issued tokens. They paid the peasant workers with their private tokens, and in turn, the peasant worker bought their staples at the “company store”. Of course, the prices were inflated, which resulted in the company reaping double profits. In addition, tokens were issued by the government for transportation purposes.

Tokens have always been collected by the inhabitants of certain areas, but it is only recently that tokens have been popular among collectors. This is primarily due to the increasing price of coins, and published works about the various types of tokens.

Around 1960, the eminent numismatist Henry Christensen, published a series on Cuban tokens in his mail auction catalogs. This information was initially developed by Robert Pesant, whose research in Cuban Numismatics is unsurpassed. Mr. Pesant listed the Cuban tokens in four major groups: sugar estate or plantation (centrales or ingenios), tobacco plantation, military, and transportation. It is not known if Mr. Pesant developed a separate segment for the commercial tokens, other than above.

Part two is a reproduction of the Military and Post Exchange Tokens of Cuba, as published by Henry Christensen in his mail auction catalog #60, dated October 22, 1976.

Other listings will follow in subsequent articles.

 

SPANISH ARMY

ST JAGO – Santiago

1000  Twenty Five Cents – 30 mm – Brass

          Obverse – 25/ST JAGO/DE CUBA     CENTRO DE TET(os) Y LICD(s)     DEL EJERCITO Y MARINA

          Reverse - Blank

1001  Ten Cents – 22mm – Brass

          as above except for size and value: 10

1002  Five Cents – 18mm – Brass

          as above except for size and value: 5

1003  Twenty Five Cents – 30mm Composition

          as # 1075 except made of a plastic-like composition. Letters in white and background of purplish-indigo tpne.

The above tokens belong to an old soldier’s home named St. James. The legend around reads: “Center for Discharged and Disabled members of the Army and Navy.”

 

SANTIAGO – Santiago

1052  Five Cents – 21mm Octagonal – Aluminum

          Obverse – Morro Castle Post Exchange   /5c/ SANTIAGO DE CUBA

          Reverse – 5

 

HABANA – Habana

1053  Ten Cents – 23mm – Brass

          Obverse – POST/EXCHANGE/HAVANA  SANTA CLARA BATTERY/CUBA

          Reverse – Large 10/ *GOOD FOR*/  IN TRADE ONLY

The Santa Clary Battery was a Spanish Artillery Fort on a cliff in the city. Years later, it was demolished and the NATIONAL HOTEL was erected on the site.

       

 

UNITED STATES ARMY

These tokens were issued for the “ PX’s” of the U.S. Army after the Spanish American War and the American Pacification of Cuba.

HOLGUIN – Holguin

1050  Five Cents - 23mm square – Aluminum

          Obverse – A Star/ HOLGUIN/ THE POST EXCHANGE/ CUBA. All within a dotted circle.

          Reverse – Large number 5c/ *GOOD FOR*/ MERCHANDISE. All within a dotted circle.

 

SANCTI SPIRITUS – Sancti Spiritus

1051 Five Cents – 21mm – Brass

         Obverse – Small horizontal design in center. SANCTI/ SPIRITUS. POST EXCHANGE/ CUBA (in small letters).  

                          All within a dotted circle.

         Reverse – 5c/ *GOOD FOR*/IN TRADE. All within a dotted circle.

 

 

CUBAN ARMY

REGIMIENTO 7 – Habana

1075 – Five Cents – 19mm – Brass.

            Obverse – 5/. REGIMIENTO 7 ./ MAXIMO GOMEZ

            Reverse – 5/ . JUNTA ECONOMICA. / CANTINA MILITAR

 

1076 – One Cent – 17mm – Brass

            as above except for size and value: 1

 

Cuba’s old Constitutional Army (1902-1958) was comprised of seven regiments which were stationed; one in each of the six provinces, and the other one in Habana. The regiments, besides a numerical designation, were named after military leaders of the Wars for Independence; thus, for example, the regiment at Oriente Province was officially named after General Antonio Maceo. At Las Villas, the regiment was named after Leoncio Vidal, etc.

The tokens above are for the “PX” Cantina of the 7th Regiment named after Generalissimo Maximo Gomez, (war of 1895-1898) in the Military District of the Province of Habana.

 

NOTE: The TRANSPORTATION TOKENS OF CUBA will be featured in the next (#03-07/ JULY) CNA Newsletter.

 

 

 

EDITORS NOTE:  CNA members, and other guest writers, are encouraged to submit articles for publication in our newsletter. The CNA, or your editor, does not substantiate or verify statements or data provided in these articles. At times, there may be information, dates, names, etc. that may not be absolute. Our readers are encouraged to use these articles for reference, and to further research the subject if they question any such matter. The writers may not wish to publicize their email address or telephone number, but any comments from the readers to the editor are welcome, and will be forwarded to the writer by the editor.

I have received feedback from members who would like to see more articles about paper money, tokens, bonds, proclamations, casino chips, etc. I have requested such assistance from knowledgeable sources in our CNA. I will continue to concentrate and pursue these areas.

Please remember that your CNA is an associate member of LANSA (Latin America Paper Money Society), which maintains both a website AND a library. We are also members of ANA (American Numismatic Association) and ANS (American Numismatic Society). These international organizations maintain extensive libraries, and our CNA has access to their reference material. If any CNA member needs assistance obtaining documentation from any of our associate organizations, I can assist as necessary. Please note the reference websites on the face sheet of the newsletter.

 

 

 

MEMBERSHIP DUES - IMPORTANT

Members are reminded that their 2007 MEMBERSHIP DUES are due, effective January 1, 2007.

If you are not current with your 2006 dues, this is a good opportunity to pay both years and become “paid up”. Members who pay their 2007 dues will received the newly designed membership card.

The regular annual membership fee of $10 ($5 Jr.) may be paid by check and mailed to Treasurer Bob Freeman at 523 N. Meridian Street, Tallahassee, FL. 32301-1281. Members who reside outside of the United States, or prefer not to mail a check, may pay an extra dollar to PayPal, using the PayPal ID of Fxputrow@aol.com. The extra $1 will cover the PayPal commission. Please use the CNA membership application if any personal information has changed, such as address, email, etc., and mail it to Bob Freeman with the check.  If paying by PayPal, make the appropriate notation in the REMARKS section. IF you are not sure if you are current with your 2006 dues, please contact Frank Putrow at Fxputrow@aol.com or call 727 46375097 (cellular).

If you are current with your dues –THANK YOU!!

 

 

 

 

 

POPULATION REPORTS

Both NGC and PCGS have an improved population report, available “on-line” to Cuban coin collectors.

Member Oscar Acosta reports that NGC had completed the improvements, and the report is complete, with a few pending enhancements in the 1897 Souvenir Types 2&3.

NGC has approved access to the following site:

http://www.ngccoin.com/poplookup/poplookup-world.asp?world=0&Denom=%25&world=0&CatDesc=CUBA

Click on “SELECT ALL COINS”, then “GET MATCHING COINS”.

This information cannot be reproduced off-site, since the census is copyrighted.     

Visit www.ngccoins.com  for further information.

 

Member Tom Harrahush reported that PCGS had made their Population Reports available to all PCGS members. He reports that the report is comprehensive, but lacks headers on each page.

PCGS has 3 membership options:

Silver ($49.95 a year) – Provides on-line access.

Gold  ($99 a year) - Provides quarterly Population Reports, book on grading and counterfeit ,

           as well as Silver benefits.        

Platinum ($199 a year) – Provides 8 free submissions, plus Gold benefits.

Visit www.pcgs.com for further information.

 

Your editor checked with ANACS to complete the top three graders.

The ANACS Population Report is still work in progress.     

The new ANACS holder is very practical, and only costs $5 each for a conversion from the original type. There have been a few reports are that some Cuban coins are not tight inside the new holders.

Visit www.anacs.com for further information.         

 

 

 

CUBAN COINS - NGC AND PCGS POPULATION AGGREGATE REPORT.

By Enrique Cayado, CNA Charter member.

 

Both grading services are entitled to praise, NGC for updating the data, PCGS for making it available.  The reports are a significant contribution to the collecting community.

Following is a selective tabulation of the Republican Period data in both systems.  I have arbitrarily defined the Republican Period as 1870 through 1958 since Cuba had a constitutional, sometimes democratic, government during most of these years with the only exception being the interim wars of 1878-1894 and the U.S.A. occupation of 1898-1902.  I encourage you to visit the NGC and PCGS Internet sites in order to examine and study the complete population reports.

 

The following qualifications and cautions are relevant before we examine a summary of the population data:

  • ANACS and PCI are major grading services excluded.  ANACS does provide a population report, in fact, they were the first service to do so.
  • There are cross-grading duplications between PCGS and NGC; these duplications would significantly increase if ANACS and PCI are added to the data.
  • Some PCGS and NGC data, for whatever reason, is missing.
  • NGC has not separated the 1897 Peso data into the three corresponding varieties. 
  • Star Relief and Reed data for Star Pesos, 40c and 20c; is questionable.  Both services started properly classifying these coins just a few years back.

The data totals 4,202 coins with 3,348 graded in “Uncirculated” condition (this includes proofs and business strikes).  The most numerous uncirculated dates graded are as follows:

 

Number    Year

of coins     Denomination

116           1934 PESO

118           1916 G4P

128           1915 G20P

152           1897 PESO (Includes all varieties)

152           1915 G1P

160           1915 G5P

192           1916 G5P

233           1916 G2P

249           1916 G10P

Now, some may be disappointed in these apparently high numbers; without getting too scientific or elaborating on depth of market, let me throw some judgmental elements in the fray:

-          Think of the St. Gaudens Double Eagle with a total uncirculated population in excess of 3.1 MILLION.  A lot of Cuban Gold is selling at metal value.

-          There was a lot of interest in the U.S.A. markets at the time of the 1915-16 gold issues; many of these coins sold to collectors.  I had a conversation with a very knowledgeable CNA member not too long ago. He indicated that a mint bag of 1915 Gold Pesos was purchased from the Brand collection alone.  This, and similar purchases, probably accounts for most of the GEM 1915 G1Ps in the market!

-          Think of the under rated 1934 Peso. I recently purchased a GEM coin for under $150 while any reasonable 1897 (just as numerous) sells for twice as much!  (The 1897 issues were primarily distributed in the U.S.A. and, after the meltdowns, should be as common as the 1934)

I am not guessing markets or promoting issues; just calling your attention to the significant opportunity for evaluation and analysis that these reports represent. With only 3,348 uncirculated coins graded, it does not take many collectors to exhaust the market.

Now that we have covered the not so common, but more numerous coins, I invite you to look at the following tabulation of ALL coins, the “best” coin available for each issue and the number of “GEM” coins (65+) disclosed by the populations:

 

YEAR

DEN

VARIETY

PR/MS

TOT. UNC.

TOT. GEM

BEST

1915

1C

 

MS

36

9

66

1915

1C

 

PR

29

19

67

1916

1C

 

MS

48

8

66

1916

1C

 

PR

10

5

66

1920

1C

 

MS

28

1

65

1938

1C

 

MS

25

4

66

1943

1C

 

MS

18

8

66

1946

1C

 

MS

9

1

66

1953

1C

J.M.

MS

18

4

65

1953

1C

J.M.

PR

4

0

64

1958

1C

J.M.

MS

17

0

64

1915

2C

 

MS

22

5

66

1915

2C

 

PR

30

16

66

1916

2C

 

MS

30

8

66

1916

2C

 

PR

11

5

65

1915

5C

 

MS

23

5

65

1915

5C

 

PR

29

18

67

1916

5C

 

MS

14

4

66

1916

5C

 

PR

12

5

66

1920

5C

 

MS

18

1

65

1920

5C

 

PR

4

3

66

1943

5C

 

MS

13

3

66

1946

5C

 

MS

14

5

65

 

 

 

 

YEAR

DEN

VARIETY

PR/MS

TOT. UNC.

TOT. GEM

BEST

1915

10C

 

MS

31

5

66

1915

10C

 

PR

22

3

67

1916

10C

 

MS

11

1

65

1916

10C

 

PR

13

6

66

1920

10C

 

MS

23

1

65

1920

10C

 

PR

3

0

64

1948

10C

 

MS

26

7

66

1949

10C

 

MS

9

2

65

1952

10C

REPUBLIC

MS

17

6

66

1952

10C

REPUBLIC

PR

6

2

66

1915

20C

HR, FR

MS

9

0

64

1915

20C

HR, FR

PR

24

7

66

1915

20C

LR, CR

MS

26

2

67

1915

20C

LR, FR

MS

6

2

66

1916

20C

LR, CR

MS

23

1

65

1916

20C

LR, CR

PR

11

5

66

1920

20C

LR, CR

MS

51

1

66

1920

20C

LR, CR

PR

1

0

64

1932

20C

LR, CR

MS

8

1

65

1948

20C

LR, CR

MS

19

1

65

1949

20C

LR, CR

MS

26

5

67

1952

20C

LR, CR

MS

17

9

66

1952

20C

LR, CR

PR

2

0

63

1953

25C

J.M.

MS

13

2

65

1953

25C

J.M.

PR

4

1

65

1915

40C

HR

MS

13

0

64

1915

40C

HR

PR

24

8

67

1915

40C

LR

MS

29

1

65

1916

40C

LR

MS

3

0

64

1916

40C

LR

PR

9

2

66

1920

40C

HR

MS

10

0

64

1920

40C

LR

MS

8

0

64

1920

40C

LR

PR

1

0

64

1952

40C

LR

MS

20

8

66

1952

40C

LR

PR

2

0

64

1953

50C

J.M.

MS

18

4

65

1953

50C

J.M.

PR

4

0

64

1915

PESO

HR

MS

21

1

67

1915

PESO

HR

PR

27

5

67

1915

PESO

LR

MS

6

0

63

1916

PESO

LR

MS

13

0

63

1916

PESO

LR

PR

21

4

67

1932

PESO

LR

MS

36

0

64

1933

PESO

LR

MS

49

0

64

1934

PESO

LR

MS

116

1

65

 

 

YEAR

DEN

VARIETY

PR/MS

TOT. UNC.

TOT.  GEM.

BEST

1934

PESO

A.B.C.

MS

27

1

65

1934

PESO

A.B.C.

PR

1

0

62

1935

PESO

A.B.C.

MS

37

3

65

1936

PESO

A.B.C.

MS

36

2

65

1937

PESO

A.B.C.

MS

27

2

65

1938

PESO

A.B.C.

MS

58

3

65

1939

PESO

A.B.C.

MS

63

3

65

1953

PESO

J.M.

MS

32

0

64

1953

PESO

J.M.

PR

4

0

64

1915

G1P

GOLD

MS

152

90

67

1915

G1P

GOLD

PR

41

18

67

1916

G1P

GOLD

MS

79

15

66

1916

G1P

GOLD

PR

13

7

68

1915

G2P

GOLD

MS

43

0

64

1915

G2P

GOLD

PR

27

13

66

1916

G2P

GOLD

MS

233

3

65

1916

G2P

GOLD

PR

2

1

65

1915

G4P

GOLD

MS

14

0

64

1915

G4P

GOLD

PR

12

2

65

1916

G4P

GOLD

MS

118

0

64

1916

G4P

GOLD

PR

4

1

66

1915

G5P

GOLD

MS

160

2

65

1915

G5P

GOLD

PR

14

7

66

1916

G5P

GOLD

MS

192

0

64

1916

G5P

GOLD

PR

2

1

65

1915

G10P

GOLD

MS

55

1

65

1915

G10P

GOLD

PR

5

2

65

1916

G10P

GOLD

MS

249

0

64

1916

G10P

GOLD

PR

3

0

64

1915

G20P

GOLD

MS

128

0

64

1915

G20P

GOLD

PR

8

1

65

1916

G20P

GOLD

PR

2

0

63

1897

PESO

SOUV NGC

MS

128

26

67

1897

PESO

WIDE DATE

MS

4

1

65

1897

PESO

STAR B

MS

16

4

66

1897

PESO

STAR A

MS

11

3

65

1898

PESO

 

MS

1

0

61

1898

PESO

 

PR

4

0

63

1898

PESO

CU

PR

1

0

62

1870

5C

KM-PN1A CU

PR

1

0

61

1870

10C

KM-PN2 AG

PR

1

0

64

1870

10C

KM-PN2A CU

PR

9

2

65

1870

20C

KM-PN3A CU

PR

13

1

65

1870

1/2P

KM-PN4A CU

PR

5

0

64

1870

PESO

KM-PN5 AG

PR

2

1

65

1870

PESO

KM-PN5A CU

PR

6

0

64

1898

20C

KM-PN9 AG

MS

0

0

55

1915

2C

KM-PNC10 BR

MS

1

0

64

                CU – copper, AG – silver, BR – bronze, A – above, B – below, J.M – Jose Marti,

                FR – fine reeding, CR – coarse reeding.

 

 

 

 

                RECENT AUCTION RESULTS OF CUBAN COINS

                                  Heritage (H) January 6, 2007

                                  Stacks (ST) December 13, 2006

                                                      January 16, 2007

                                  Superior (SU) January 2, 2007

                                  Ponterio (P) January 12-13, 2007

                                # Includes hammer and commission.

COIN                         GRADE           $ SOLD FOR #

1834 Proclamation            BU - Isabel II             345(P), 403(P)

1870 10 C Pattern             ANACS AU53           661(SU)

1897 Souvenir Type 1      AU-UNC cleaned    1725(H)

1897 Souvenir Type 1      NGC AU58                633(SU)

1897 Souvenir Type 1      NGC MS64              5003(P)

1897 Souvenir Type 2      UNC                           633(H)

1897 Souvenir Type 3      EF                               150(P)

1897 Souvenir Type 3      AU-UNC                    230(H), 345(H)    

1898 1 P cleaned               ANACS net EF40  1093(SU)

1898 1 P cleaned               AU                          1610(H)

1915 1 P Gold Cameo       PCGS PR61            1955 (SU)

1915 1 P Gold                   PCGS PR63             2185(SU)

1915 1 P Gold                   ANACS MS62          288(SU)

1915 1 P Gold                   ANACS MS63          259(SU)

1915 1 P Gold                   NGC MS65               690(SU), 633(H)

1915 1 P Gold                   PCGS MS66              863(H)

1916 1 P Gold                   BU                             437(ST)

1916 1 P Gold                   NGC PR62               2703(SU)

1915 2 P Gold                   PCGS PR62             3565(SU)

1915 2 P Gold                   PCGS MS63               690(H)

1916 2 P Gold                   AU-UNC                    173(H)

1916 2 P Gold                   ANACS MS61           259(SU)

1916 2 P Gold                   PCGS MS63               374(SU)

1915 4 P Gold                   ANACS PR63         5290(SU)

1915 4 P Gold                   NGC AU58                748(H)

1916 4 P Gold                   AU                              374(P)

1916 4 P Gold                   ANACS AU58            207(SU)

1916 4 P Gold                   NGC AU58                 288(H)

1916 4 P Gold                   NGC MS62                 460(P)

COIN                         GRADE             $ SOLD FOR #

1916 4 P Gold                   PCGS MS62             362(SU)

1915 5 P Gold                   NGC AU58               230(H)

1915 5 P Gold                   PCGS PR63            2280(SU)

1916 5 P Gold                   ANACS MS60          207(SU)

1916 5 P Gold                   ANACS MS62          247(SU)

1915 10 P Gold                 AU-UNC                   299(H)

1915 10 P Gold                 BU                             374(P)  

1915 10 P Gold                 ANACS MS62          357(SU)

1916 10 P Gold                 EF                              276(H)

1916 10 P Gold                 NGC AU55 cleaned  322(H)

1916 10 P Gold                 ANACS AU58          270(SU) 

1916 10 P Gold                 ANACS MS61          374(SU)

1916 10 P Gold                 NGC MS61               403(H), 299(H), 345(H)

1916 10 P Gold                 NGC MS62               546(H) 

1916 10 P Gold                 NGC MS63               489(SU)

1915 20 P Gold                 AU                           1610(P)

1915 20 P Gold                 UNC cleaned             920(H)

1915 20 P Gold                 PCI AU58                1150(SU)

1915 20 P Gold                 NGC AU58              1495(H), 1265(H)

1915 20 P Gold                 ANACS MS60        1610(SU)  

1915 20 P Gold                 NGC MS62             2185(SU)

1916 20 P Gold                PCGS PR63        115000(H) Reserve – not sold

1915HR 1 P                       PCGS MS62           258.75(ST) 

1916 1 P                            PCGS PR62            3105(SU)

1932 1 P                           ANACS MS61           115(SU)

1932 1 P                           ANACS MS62           253(P)

1933 1 P                           ANACS MS60             92(SU)

1933 1 P                           NGC MS61                  98(SU)

1933 1 P                           ANACS MS62           110(SU)

1933 1 P                            PCGS MS62              138(P)  

1934 1 P Star                    AU-BU                       138(ST)

1934 1 P Star                    ANACS MS62             98(SU), 138(P)

1934 1 P Star                    ANACS MS63           102(SU)

1934 1 P Star                    PCGS MS63               345(P)

1934 1 P ABC                  ANACS MS60             52(SU)

1935 1 P ABC                  AU cleaned                   59(H)

1935 1 P ABC                  ANACS MS60             63(SU)

1936 1 P ABC                  NGC MS61                161(SU), 207(H)

1937 1 P ABC                  NGC AU50                 863(H)

1938 1 P ABC                  EF                               230(ST)

1938 1 P ABC                  ANACS MS61             86(SU)

1939 1 P ABC                  ANACS MS61             93(SU)

1939 1 P ABC                  ANACS MS62           115(SU)

1939 1 P ABC                  NGC MS63                322(P)

1915 1 C                           NGC MS62                 30(SU)

COIN                         GRADE             $ SOLD FOR #

1915 1 C                           PCGS MS64              150(ST)

1916 1 C                           PCGS MS65              160(SU)

1916 1 C                           NGC MS63                104(SU)

1920 1 C                           NGC MS62                 39(SU)

1920 1 C                           NGC MS63                 19(SU)

1938 1 C                           NGC MS62               115(SU)

1958 1 C USA struck on Cuba 1958 planchet   2990(ST) MS64

1958 1 C USA struck on Cuba 1958 planchet   1093(ST) MS63

1915 2 C                           NGC PR63                690(SU)

1915 2 C                           NGC MS63                 98(SU)

1915 2 C                           NGC MS64               155(ST)

1916 2 C                           NGC MS63               127(SU)

1915 5 C                           ANACS PR63           431(SU)

1915 5 C                           NGC MS62               184(SU)

1916 5 C                           ANACS MS63          150(SU)

1920 5 C                           NGC MS60                 49(SU)

1915 10 C                         ANACS MS60            81(SU)

1916 10 C                         PCGS MS62              920(SU)

1920 10 C                         PCGS MS60              104(P)

1920 10 C                         NGC MS62               270(SU)

1915HR 20 C                    NGC MS61               546(H)

1915LR 20 C                    NGC MS63               230(SU) 

1916 20 C                         NGC MS62               360(SU)

1920 20 C                         NGC MS61                 19(SU)

1920 20 C                         NGC MS62                 25(SU) 

1932 20 C cleaned            ANACS net AU58    178(SU)

1915HR 40 C                    NGC AU55                 69(SU)

1915HR 40 C                    NGC MS63               450(SU), 575(H)

1915LR 40 C                    UNC                          230(H)

COMMENT ON THE RECENT AUCTION RESULTS: It is noted that coins with identical grader ratings demand different prices. This is due to (a) buyer’s preference,

grader’s tolerance, and opportunity. For example; it appears that more interested Cuban buyers were at the Heritage auction then the others. Thus, the competition was keener, and prices realized were often higher. At the Superior auction, it appears that many choice uncirculated pesos and centavos were bought at bargain prices.

 

 

 

 

 

THE 1869 PAPER MONEY ISSUES OF THE REPUBLIC OF CUBA

By Enrique Cayado, CNA Charter member.

The World Paper Money catalog (Pick) identifies the paper money issues as numbers 54 through 60 in denominations of 50 Centavos, and 1, 5, 10, 50, 500 and 1000 pesos. The 50 centavos and 1 to 50 Pesos are uniface.  Some varieties noted are without red seal, without signature, hand signed, stamped signature, etc. 

The Pick edition in my library does not include a $100 issue.  It does however exist.

The one-peso variety “without red seal” and all varieties without signature (except the 50 Centavo, which did not require a signature) are probably bills that did not reach the island, printers waste or, in any case, did not satisfy the legal tender requirements.

The historical background of this issue is:

-          The war commences October 10, 1868, “Grito de Yara.”

-          A constitutional assembly meets during April 1969 in Guaímaro, Camaguey.  A government was elected and the organic laws of the Republic approved.

-          José Valiente was commissioned December 3, 1868 in Embarcadero de Cauto. Detailed instructions were issued on  December 20, 1868, Guamo Headquarters, to coordinate the issuance and distribution of Bonds and Paper Money.

-          José Morales Lemus, ambassador to the U.S.A. is requested by law of June 15, 1869 to “Accomplish without delay whatever is required to issue $2 million in paper money”

 

“El Cubano Libre”, the official government newspaper, publishes the following article on July 22, 1869: 

Carlos Manuel de Céspedes y del Castillo, President of the Republic of Cuba.

Whereas, Congress has legislated on June 15, 1869 as follows:

-          Article 1.  It is the responsibility of the Army to invest in necessities of the State the two million dollars authorized.  All expenditures must be accounted to Congress on a monthly basis.

-          Article 2, The paper money issued shall be mandatory legal tender in the territory of the Republic. Any contracts extended prior to the date of this law shall be satisfied in metallic.

-          Article 3, The executive will design all marks, external as well as secret, that will be used in the issue as well as the series to be issued, and will report to Congress on this subject.

-          Article 4, Whoever refuses to accept this money as legal tender shall be fined in the amount of 10 Pesos or subject to 10 days imprisonment, non withstanding, acceptance will be forced.

-          Article 5, Whoever forges, uses this paper without owning it, or defaces this paper in any manner, shall be punished according to the law as a forger.

-          Article 6, It is an obligation of the Treasury of the Republic to exchange this paper at face value for gold or silver monies. This will be accomplished upon presentation and as circumstances allow.

-          Article 7, Any paper that deteriorates will be exchanged by the government for paper in good condition.

I hereby order the publication and enforcement of this law and, complying with Article 3, I further dispose:

-          1. The monies will be issued in denominations of $1, series A through I; $5, Series A through F, $10, series A through E and $50, Series A.

-          2. The bills will be marked with a pink seal in the shape of a wheel showing the arms of the Republic in the center with the legend “República de Cuba 1869” around it.

-          3. The bills will have the date of issuance and will bear a half signature (initial and last name) of the President of the Republic.

Given at Sabanilla de Sabanicú, July 9th 1869, second year of the Independence.

 

A later document (to Miguel Aldama) reports the following details of issuance as follows:

$0.50               $ 200,000  (400,000)

$     1                  700,000  (700,000)

$     5                  450,000  (  90,000)

$   10                  125,000  (  12,500)

$   50                  175,000  (    8,750)

$ 100                    50,000  (       500)

The balance of $2 millions ($300,000) is reported as $500 and $1000 bills.  There is no breakdown of the totals for each.  These bills are entirely different in design and bear a full signature of Carlos Manuel de Céspedes as well as the signature of Eligio Izaguirre, Secretary of the Treasury.

The issue was printed in New York under the auspices of the “Junta Republicana de Cuba y Puerto Rico” and the cost of the engraving is reported as $5,300.  Whatever secret marks are on the issue remain secret or subject to interpretation.  The $500 and $1000 bill issue are typical ABNC for the period but the printer, probably because of U.S.A. government hostility at the time, is unknown to me. It is likely that the same printer was utilized for the bonds of the $20,000,000 subscription made about the same time.

It is a good guess that the first paper money shipment reached Cuba in one of the early Perrit expeditions, organized by Gen. Manuel Quesada y Loynaz.

There are $1 Peso issues signed by Gen. Thomas Jordan, also by Gen. Henry Reeve; these are collectable fancies as their signature would make the bill invalid.  Jordan and Reeve participated in the first Perrit expedition and were in reception of some subsequent ones; they are also favorite heroes of mine.

 

 

 

Letters to the Editor.

1. Editor:

Thanks for drawing my attention to the publication of the January Newsletter on the web site - I had difficulty  reading the version you had earlier emailed.

I was particularly interested in the article about the 1968 5 centavos. This is exactly the kind of article that I had hoped the newsletter would carry! It sent me to my collection to see what I had (it’s a Leningrad mint version of the 1968). This led me to look at the other dates, and this is what I found: 1963, 1966, 1971 and 1972 are all Kremnica mint style (plus some 1968’s, according to your article). I do not have a 1969, but suspect that it is a Leningrad issue. The reason for my guess is that the mintages for the Kremnica output are all published, while those for 1968 and 1969 are not! Maybe I am taking my guesswork too far? Anyway, it would be interesting to hear from anyone with a 1969 5 centavos.

The plate coin in the Krause catalog appears to be a Leningrad mint version of the 1968.

Sincerely, Stephen E.

 

2. Editor:

This Cuban token from a sugar factory in Gibara depicts the letters S.C., however, it is not clear what is their meaning, is it simply a monogram of the company or owner? Or does it mean Santiago de Cuba (since the town is in the region of the larger city, Santiago, which may have been a provincial jurisdiction at the time), or what else?  Reiterating the question, what could S.C. mean?

Thank you for your response, Gerardo G.

 

Response by Rudy Valentin, CNA Director and Charter member.

Further to my previous information on the Ingenio Victoria, I want to add the following:
The Ingenio Victoria situated in Gibara, Oriente, issued the following tokens as listed by
the renowned Cuban numismatist, Roberto Pesant (Pesant's numbers)
410  One Wage (un jornal) 25mm Nickel
        obverse: Old fashion plow/Ingenio Victoria/Gibara
        Reverse: S. C./ Vale por un Jornal  1890
411  One wage (un Jornal)-21mm- Nickel
       Same as above except a large Scale in lieu of a plow
412  One Ration- 21mm- nickel
        As above except for value; UNA RACION
413   Half a ration- 18mm-nickel
        Same as above except for value MEDIA RACION.
According to Ramsden. S.C. stands for Vedra y Camara the owners of Angostura tokens (His #2)
However, Pesant belive it is only a coincidence because the estate belonged to, S. Calderon.

 

Additional research provided by Enrique Cayado, CNA Charter member:

It is confirmed that it is Roberto Pesant's reference #413, or "Half a ration-18mm-nickel.

It appears that these tokens were used for goods, rather than value.

 

 

3. Editor:

I have a Cuban 1872 10 centavos bank note. Could you tell me something about it and its worth?

 

Response proved by Larry Casey, CNA Director and Charter member. 

Well, using my copy of the Standard Catalog of World Paper Money, Volume 2, 10th edition. If not fully current, it's very recent. The note was of a prolific year of banknote printing; 1872 first issue were large sized bills from 5 to 100 pesos, with several larger issues reported but unconfirmed. The second issue was of a 1 & 3 pesos issued. And, the third issue was entirely of fractionals, essentially paper change. And the three distinct series were printed by different companies; first issue by Bradbury Wilkinson & Co England, the second by Comapnia Nacional de Billets de Banco and the third, where your note would fall, was printed by the National Banknote Co. and was actually issued by them. I state this as they merged or were overtaken by the American Banknote Co., who printed the rest of the third issue from the existing plates, and adding their monogram to the notes.

 

Value depends greatly upon condition, as it does with anything from coins to cars to houses, and the note catalogs for $3 in good condition (would have the consistency and desirability of a well worn dishrag), $12 in fine, and $40 in extremely fine (EF), which would make the note a fairly attractive issue with little handling. EF may have up to three light folds or one stronger crease, paper would be clean and retaining its original sheen, corners would have but the slightest rounding, and some wear would be expected where a fold met the edge.

The catalog doesn't grade for better conditions as these become somewhat rare, since these notes were used and circulated fairly hard. In my own collection, I hold a joined pair that cost me somewhere in the ballpark of $125, but is the only joined pair I have seen for this issue. It is more common to find pairings and better condition singles in the ensuing years for the fractionals which were also produced in 1876 and 1883. 

Hope that this helps a bit, if you can send me an image I might be able to pin this down for you better, Larry

 

 

4.Editor:

I am Cuban by birth (arrived in 1960) and I am trying to create a collection of Cuban coins for my grandchildren as a way for them to learn about Cuba. I have read many of your articles in the CNA Newsletters, but one in particular concerning how to identify a 20-centavo piece as Fine Reeding or Coarse Reeding got me way too confused as to why the terms "Coarse" and "Fine" are used when the difference is based on the number of units that appear at the edge/circumference of the coin. But more important, I have counted up to 150 reedings on the 1 Peso coins but I have never seen or heard of a 20-cent piece with more than 125 (25 each between star points x 5).

My question is: Does your explanation of 150 vs 115 refers to the 1 Peso coin only? Could it be that a "fine reeding" for the 20-centavos is only 125? Being that the 1 Peso coin is larger this makes sense as an explanation as to why there are no 20-cent pieces with 150 reeds...

I would appreciate your help on this one and I also want to congratulate you on your work to advance Cuban coins collecting in the United States. Thanks a lot. Jose L.

 

Hola Jose,

If you have a coin with 95 reeds, you may have uncovered another type.

Do you have a microscope? Mark a reed with a sharp black marker, then use a needle to start the count. Every 25 reeds, mark that reed with the marker. Then, complete the count. Actually, if you are in the area of 95, you can be assured that it is a FR, rather than a CR.  Frank Putrow.

 

                                                                       

 

.

 

 

CNA NEWSLETTER ARTICLE INDEX

ISSUE/PAGE    DESCRIPTION

 

4-06/8                       1870 Essai

1-04/4                       1876 5 centavo

3-06/7                       1869 1000 Peso Revolutionary Bond

2-07/14                     1869 Paper Money Issues of Cuba

3-04/3                       ABC’s – The story behind the ABC’s

1-04/3                       America’s involvement in Cuba

2-07/12                     Auction Results of Cuban coins

3-05/6                       Barber – Chief Engraver

3-05/10                     Brand Collection Auction of 1964

3-05/12                     Buyer Beware

4-05/8                       Casino Chips

3-04/2                       Cobs, Pieces of Eight and Treasure Coins

3-05/2                       Commemorative Coins

2-06/11                     Commemorative CNA Coin

2-04/4                       Cuban Coin Adventure

3-05/8                       Cuban Coins – A bit pricey

2-04/2                       Cuban Market

4-05/12                     Cuban Market

4-06/11                     Cuban Mint Tour

1-05/3                       Currency – Collecting Cuban Currency

1-04/5                       Cuban Numismatics – Overview

1-04/6                       EBAY – Buying and Selling

1-04/2                       Embargo, as it applies to modern collectibles

1-06/7                       First Circulating Currencies

1-05/7                       First Strike of Cuban Coins

 

                                  FROM THE KITCHEN

4-06/10                      Paella and Flan Cake

1-07/11                      Sautéed Fish and Tropical Salsa with Avocado and Greens Salad

2-07/19                      Ropa Vieja (Old Rags) with black beans and rice.                                 </