CUBA, 1915 Peso (Proof) 1 1

[Fenntucky Mike]

Mmm mmm mmm, I like this coin. I always was a sucker for nice even cobalt blue toning.

It's being auctioned off and just thought I'd share a good looking coin. Proof that good things can come out of Philly, the Philly Mint at least. 

Any guesses what it will hammer for? The USD has closed the gap on the Euro, €17,000 is around $18,500 currently, money is going further now in overseas auctions/purchases than it has in little while. I haven't really noticed an increase in prices, €, either. LINK to the auction and description below. There is a video of the coin if you go to the auction website.

Cuba. 1 peso. 1915. Philadelphia. (Elizondo-5). (Km-15.1). Ag. Produced in a low mintage of only 100 examples. It has no marks, imperfections or defects, preserves the plenty luster and a fine veil of patina that, with a tilt of the wrist, reveals soft blue iridescence that elevates the eye appeal of the piece. Slabbed by NGC as PF 65. A similar example auctioned by Heritage Auctions in 2012 was sold for $18,000. This coin is exempt from any export license fee. Est...17000,00. 

Auction House images

NGC images

[zadok]

On 11/17/2023 at 4:18 PM, Fenntucky Mike said:

Mmm mmm mmm, I like this coin. I always was a sucker for nice even cobalt blue toning.

It's being auctioned off and just thought I'd share a good looking coin. Proof that good things can come out of Philly, the Philly Mint at least. 

Any guesses what it will hammer for? The USD has closed the gap on the Euro, €17,000 is around $18,500 currently, money is going further now in overseas auctions/purchases than it has in little while. I haven't really noticed an increase in prices, €, either. LINK to the auction and description below. There is a video of the coin if you go to the auction website.

Cuba. 1 peso. 1915. Philadelphia. (Elizondo-5). (Km-15.1). Ag. Produced in a low mintage of only 100 examples. It has no marks, imperfections or defects, preserves the plenty luster and a fine veil of patina that, with a tilt of the wrist, reveals soft blue iridescence that elevates the eye appeal of the piece. Slabbed by NGC as PF 65. A similar example auctioned by Heritage Auctions in 2012 was sold for $18,000. This coin is exempt from any export license fee. Est...17000,00. 

Auction House images

NGC images

...cuba coinage has a strong following...i have in the past on two occasions put together the cuba gold sets, 1915-16, minus the one 20 peso n both times choice coins sold for premiums...also bought the cuba type collection album years ago n tried to put it together in gem bu, pre-cert days, n found that virtually impossible to find in both the one pesos n some of the minor silver...so if trends have maintained id guess the proof u reference to exceed the high estimate....

[Fenntucky Mike]

On 11/17/2023 at 4:35 PM, zadok said:

...cuba coinage has a strong following...i have in the past on two occasions put together the cuba gold sets, 1915-16, minus the one 20 peso n both times choice coins sold for premiums...also bought the cuba type collection album years ago n tried to put it together in gem bu, pre-cert days, n found that virtually impossible to find in both the one pesos n some of the minor silver...so if trends have maintained id guess the proof u reference to exceed the high estimate....

That was my thought, that it would exceed the high estimate. Not sure if it will blow past it or not though, €25,000 wouldn't surprise me, especially with the Euro sagging a bit, but I don't follow Cuban coinage much. 

I've considered putting together a type set or collecting one of the minor denominations many times but hit the breaks after looking into expense. I keep coming back to it though and will probably dip my toe in once I finish up some other coin projects I'm working on. 

EDIT TO ADD:

I took a look at the NGC population report and there have been 33 grading events for this coin type, survivorship would seem to be high if all are different coins. I'm now thinking it will just squeak by the high estimate.

Edited November 17, 2023 by Fenntucky Mike

[Fenntucky Mike]

Anyone think that this should get a CAM designation? The obv looks close to full cam, I'm guessing the rev held it back.

Edited November 17, 2023 by Fenntucky Mike

[RWB]

Very nice specimen!

 

[zadok]

On 11/17/2023 at 4:52 PM, Fenntucky Mike said:

That was my thought, that it would exceed the high estimate. Not sure if it will blow past it or not though, €25,000 wouldn't surprise me, especially with the Euro sagging a bit, but I don't follow Cuban coinage much. 

I've considered putting together a type set or collecting one of the minor denominations many times but hit the breaks after looking into expense. I keep coming back to it though and will probably dip my toe in once I finish up some other coin projects I'm working on. 

EDIT TO ADD:

I took a look at the NGC population report and there have been 33 grading events for this coin type, survivorship would seem to be high if all are different coins. I'm now thinking it will just squeak by the high estimate.

...i wouldnt be surprised if not several resubmissions but since proof most probably saved?...i have felt same way maybe just collect one denomination but then again the type set had big walls i kept running up against....

[zadok]

On 11/17/2023 at 5:04 PM, Fenntucky Mike said:

Anyone think that this should get a CAM designation? The obv looks close to full cam, I'm guessing the rev held it back.

...just not quite there....

[Fenntucky Mike]

Sold for €15,000, not sure if that includes the BP. I don't think it does, with BP that would put the final price at €17,700.

[zadok]

On 11/30/2023 at 8:33 AM, Fenntucky Mike said:

Sold for €15,000, not sure if that includes the BP. I don't think it does, with BP that would put the final price at €17,700.

...i personally thought it would go a bit higher, possibly it didnt look as good in hand or maybe that market softening a bit, whatever it still wasnt chump change....

[Fenntucky Mike]

On 11/30/2023 at 8:39 AM, zadok said:

...i personally thought it would go a bit higher, possibly it didnt look as good in hand or maybe that market softening a bit, whatever it still wasnt chump change....

Change of venue may have helped out as well, it may have went higher if sold here in the states in a premium auction setting.

[Fenntucky Mike]

It's back up for auction, at Sedwick's this time. Let's see how she does on the second go around with a change of venue. https://auction.sedwickcoins.com/item.aspx?i=52420824

Opening bid 7k, estimate 10-20k.

[zadok]

On 4/20/2024 at 11:00 AM, Fenntucky Mike said:

It's back up for auction, at Sedwick's this time. Let's see how she does on the second go around with a change of venue. https://auction.sedwickcoins.com/item.aspx?i=52420824

Opening bid 7k, estimate 10-20k.

...if has reserve doubt it sells, if not bout same as last time....

[RWB]

May 29, 1915.

Superintendent U. S. Mint,

Philadelphia, Pa.

 Sir:

In reply to your favor of the 24th instant relative to proof sets of Cuban coins, you are hereby authorized to comply with the request of Mr. E. [Eduardo] I. Montoulieu, Technical Commissioner and representative of the Cuban Government to execute the desired number of sets of proof coins, and to place on sale the coins and sets in the mint at Philadelphia.

Respectfully,

[Signature] Robert W. Woolley, Director of the Mint.

Edited April 22 by RWB

[Jason Abshier]

On 11/17/2023 at 4:18 PM, Fenntucky Mike said:

I always was a sucker for nice even cobalt blue toning

It definitely one of nicest blue toned coins I’ve seen definitely a cool specimen