Peru: Gold Coins

Posted by on October 31, 2012
GP PERU 1917 Lima 1 Gold Libra 300x150 Peru: Gold Coins

1917 Lima 1 Gold Libra

Some of the readably available Peru’s gold coins are of various denominations of the 90% fine gold Sol which were minted from 1950 through 1970.  There are also the  Libra (Pound) which were first minted in 1898.  Peru’s gold Libra coins were one of the few gold coins anywhere in the world that continued to be minted after the 1930’s.  Peru continued minting these 91.66% (22 karat) fine gold up through 1969.

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1409804754324040 1 Peru: Gold Coins
Peru 1/5 Libra 1959 INCA INDIAN Brilliant Gold Coin World Investment Rare
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3606618545904040 1 Peru: Gold Coins
SCARCE Low-Mintage 1903 GOLD 1/2-libra Peru; .917 Fine GOLD
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Peru Gold Sol 1976 MS 65 NGC
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GP PERU 1699 Peru 8 Gold Escudo 300x150 Peru: Gold Coins

1699 Peru 8 Gold Escudo

Peru’s gold mines are legendary however Spain was having all the gold refined, assayed, poured into bars and shipped directly to Spain even though the Spanish founded a mint in Lima, Peru in 1569. The Lima mint had started experimenting with striking gold coins in 1659 and continued into 1660 however when King Philip IV found out about the unauthorized gold coins he had it put to an end quickly.  Gold coins were not minted in the Spanish Americas until 1696 and consisted of the escudo denominations of a half, one, two, four, and eight escudo.  The 2 escudo is the gold coin that is popularly known as doubloon.  Doubloon is Spanish for double.  An escudo was equivalent to 16 reels and an 8 reel was a standard European silver thalar which the US silver dollar's size and weight was based on.

GP PERU 1837 Cuzco Peru 8 Escudo 300x147 Peru: Gold Coins

1837 Cuzco, Peru 8 Gold Escudo

Spain and France had been old allies against England and in 1807 France and Spain invaded Portugal.  However the following year France broke the age old alliance and invaded Spain.  Spain had to recall many of its troops from the Americas which sparked rebellion throughout Spain’s colonies.  Peru’s pro-republic forces were able to gain the upper hand by 1821 and declared their independence.  It wasn’t until December of 1824 that the loyalists were finally put down.  The territories that were to make up Peru still had many armed conflicts and all out warfare throughout the 19th century.

GP PERU 1838 Peru 1 2 Gold Escudo 300x150 Peru: Gold Coins

1838 Peru 1/2 Gold Escudo

Because of the various conflicts amongst the various territories of the Spanish colonies Lima Peru’s mint and other mints of Peru and allied territories the gold escudo continued to be minted until the War of the Confederation concluded in 1839 which defined as we know it today.  In order to bring uniformity to Peru’s currency the decimal system was adopted in 1858 and finalized in 1863.  The silver Sol was set to equal 5 French francs, and equal to 10 Spanish reales, or 1.25 Bolivian Pesos and one reel set to one Dinero which was equal to one Centavo.  The gold Libra was set to equal 10 soles.

GP PERU 1961 Lima 1 5 Gold Libra 300x150 Peru: Gold Coins

1961 Lima 1/5 Gold Libra

The 1 (Una) Libra are 22 millimeters in diameter, weigh 7.9881 grams and contain 0.2354 troy ounces of gold.  The Half Libra were first minted in 1898 and continued through 1969.  These are 19 millimeters in diameter, weigh 3.9940 grams and contain 0.1177 troy ounces of gold.  The Fifth Libra has a diameter of 14 millimeters, weighs 1.5976 grams, and contains 0.0471 troy ounces of gold.

GP PERU 1965 Peru 50 Gold Sol 400th Anniversary of the Lima Mint 300x149 Peru: Gold Coins

1965 Peru 50 Gold Sol - 400th Anniversary of the Lima Mint

There are the 100 (Cien) Soles are 36 millimeters in diameter (are 3mm thick), weigh 46.8071 grams and contain 1.3544 troy ounces of gold.  The 50 (Cincuenta) Soles are 30 millimeters in diameter, weigh 23.4056 grams and have 0.6772 troy ounces of gold.  The 20 (Viente) Soles are 23 millimeters in diameter, weigh 9.3614 grams, and contain 0.1354 troy ounces of gold.  The 10 (Diez) Soles is 15 millimeters in diameter, weigh 4.6807 grams, and have 0.1354 troy ounces of gold.  The 5 (Cinco) Soles have a diameter of 15 millimeters, weigh 2.3404 grams, and contain 0.0677 troy ounces of gold.

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A History of the World in 100 Objects
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Spanish Colonial Silver Coins in the Florida Collection (Florida Heritage)
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The 2011 Import and Export Market for Coins Not Being of Legal Tender Excluding Gold Coins in Peru
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