Category: Reference Material

April 28, 2021

Castro Signed Document From 1959 Walks Into Coinacopia

Post By coinacopiastore Reference Material

"Año de la Liberación" July 7 Law 426 Allocating Funds For ICAIC

Instituto Cubano del Arte e Industria Cinematográficos (ICAIC)

The ICAIC is an organization of a film industry to produce, distribute and exhibit films and related work following the Cuban Revolution. Its aim is to use film as a powerful mass communication medium to mobilize and educate people, improve the quality level of Cuba films with appreciation among the masses and reach a wide public. Through educating the new generation of young directors, one of its responsibilities is to transform Cuba from a country of cinematic consumption to a production. (Wikipedia)

The ICAIC was also the beginning or government control in various industries including media, cinema, and news. 

Allocation of $850,000 Pesos

As written in this law, its purpose was to allocate $850,000 pesos to purchase equipment for the ICAIC. The law also goes on to state that the revolutionary government will issue securities (bonds) to balance the fiscal budget of 1959-1960. 

Who Signed This Document

Fidel Castro - Primer Ministro "Prime Minister"

Leader of the Cuban Revolution. Fidel held the title of Prime Minister in the newly formed revolutionary government. 

Prime Minister

13 Februrary, 1959 – 24 February, 2008

Rufo López-Fresquet - Ministro De Hacienda "Minister of Finance"

Served in this position position for 14 months before resigning and later exiling to the United States

Minister of Finance 

January 1959 – March 1960

Manuel Urrutia Lleó - Presidente de la República de Cuba "President"
Signature seen under ribbon

First president of the newly formed revolutionary government. Served in this position for 7 months before stepping down. Was replaced by the more socialist figure Osvaldo Dorticós Torrado.

President 

3 January, 1959 – 18 July, 1959

Resigned from office only 11 days after signing this law.

Historical Significance

This document was signed by memeber of the very first cabinet of the new revolutionary government. The president and minister of finance would shortly step down after signing this bill. This bill comes from time when new and old politicians blended in government shortly before the rise of full communism in Cuba. Fidel’s signature is also of obvious historical significance. 

Available For Viewing

The incredible document is one of many historical items we have in inventory here at Coinacopia. We are very grateful that this piece was brought to us and that we were able to obtain this incredible piece of history.  

March 17, 2021

1985 Exile Souvenir Peso Varieties

Post By coinacopiastore Reference Material

Short vs Long Neck Varieties

Short Neck (Type 1)

Die Differences

  •  Short Neck varieties have a slight bulge in the neck
  • Denticles “Small Dots” have a larger gap from the edge of the coin. 

Metal Varieties

  • Copper-Nickel KM X#M7 Mintage: 500
  • .925 Silver KM X#M8 Mintage: 50
  • .5830 Gold KM X#M9 Mintage: 5

Long Neck (Type 2)

Die Differences

  • Long Neck varieties have a long distinctly vertical neck.
  • Denticles have no gap from the edge of the coin

Metal Varieties

  • Copper-Nickel KM X#M10 Mintage: 1,000
  • Bronze KM X#M11 Mintage: 500
  • .925 Silver KM X#M12 Mintage: 200
  • .5830 Gold KM X#M13 Mintage: 5

Brief History on Richard Lobel Fantasy Issues

Richard Lobel is a coin dealer based in London, England. His coin store Coincraft  manufactured theses and many other fantasy coins throughout the years. Lobel issued fantasy issues for Cuban, Australian, British, New Zealand, Burma, Hong Kong, and others. 

Author

Andrew Lydic – Numismatist – E-Commerce Manager at Coinacopia

Works Cited

“Cuba Page 159 .” Unusual World Coins: Companion Volume to Standard Catalog of World Coins, by George S.           Cuhaj, KP Books, 2011.

“ Richard Lobel .” CoinsWeekly, 28 June 2019, coinsweekly.com/whoswho/lobel-richard/.

 
 
January 21, 2021

1994 Fuana Pelican 1 Peso Varieties

Post By coinacopiastore Reference Material

Variations In Paint on 1994 Pelican Peso

  • KM #497
  • Mintage 25,000
  • Enamel Over Nickel Plated Steel
  • Black Cheek
  • Black Eyelid 
  • Dark Brown Neck Flap
  • Darker Grey Feathers
  • White Cheek
  • White Eyelid 
  • Light Brown Neck Flap
  • Lighter Lavender Grey Feathers
  • Type Shown in Krause

What is The Proper Colorization?

Based on the 10 pesos version of this coin one can concluded that the proper colorization would be the peso on the left. But in the Krause catalog they show a coin similar to the one on the right. The difference was noticed when Coinacopia bought a roll of 20 of the 1p and approximate 10-10 were of each paint color. 

1994 10 Pesos Proof
July 29, 2020

Explanation of As Made Wrinkle Error Paper Money

Post By coinacopiastore Reference Material

What is an "As Made Wrinkle"?

An as made wrinkle is a wrinkle that was in the paper prior to printing. This in turn cause wrinkles to be permanently embedded in the paper of the note. As made wrinkles since they were produced unintentionally during printing do not hurt the grade of the note and are not considered mishandling. 

How Does an As Made Wrinkle Occur?

Typically as made wrinkles occur when during “wet-printing”. Wet-printing is the process of printing on wet paper. Wet paper printing was has mostly been replaced throughout the world by more modern printing techniques. As made wrinkles were most prominent on obsolete US banknotes and notes printed prior to 1950 throughout the world. Since about 2010 there has been a large increase in as made wrinkles printed on CUC and CUP banknotes from Cuba. 

As Made Wrinkle on 1864 Confederate $1 Banknote

As Made Wrinkle on 2016 Cuban 3 Pesos Convertible Banknote

July 23, 2020

Explanation of Silver 1897 Cuban Souvenir Peso Varieties

Post By coinacopiastore Reference Material

How Many Varieties?

There are three recognized varieties of Silver Souvenir Pesos from 1897. In this article I will explain the differences in each and touch on different things to look for when grading/ buying these coins. 

Variety Number One "PAT. 97 on Neck / Wide Date"

Key Points
  • Krause X# M1
  • Mintage 828
  • Features PAT.97 on the base of neck
  • Features large gaps between numbers in the date 
  • NGC has certified these as “Wide Date” and “PAT. 97 on Neck”
  • PCGS has certified these as “PAT. 97” 
Strike Quality Differences in PAT. 97 Pesos
Grading PAT. 97 Pesos
  • Grading services will check the highlighted areas for rub when determining if the coin is uncirculated (MS) or About uncirculated (AU)
  • Lack of details does not imply that the coin is not uncirculated. These coins often had weak strikes which can result in missing details.
  • Nearly all souvenir pesos have a dull gray color and do not have as much luster as other .900 silver coins
  • The coin pictured is PCGS MS62 

Variety Number Two "Close Date Star Below Baseline"

Key Points
  • Krause X# M2
  • Mintage 4,286
  • Features star on right side blow the 7 in 1897
  • NGC has certified these recently as “Close Date” 
  • PCGS has certified these as “Close Date Star Below”

Variety Number Three "Close Date Stars Above"

Key Points
  • Krause X# M3
  • Mintage 4,856
  • Features star on right side above baseline of date
  • NGC has certified these recently as “Close Date” 
  • PCGS has certified these as “Close Date Star Above”

Things to Remember When Buying Souvenir Pesos

  • NGC now certifies X#M2 and X#M3 as close date and does not describe whether the coin is star above or below. 
  • It is nearly impossible to to find these with lots of visual luster and eye appeal
  • PAT. 97 is the hardest of the 3 to find.

Author

Andrew Lydic – Numismatist – E-Commerce Manager at Coinacopia

Works Cited

Images courtesy of Heritage Auctions

“Cuba.” Unusual World Coins: Companion Volume to Standard Catalog of World Coins, by George S. Cuhaj, KP                     Books, 2011, pp. 158–159.