988

CHILE, Valdivia, Chunimpa, emergency issue 2 reales, 1822, very rare, NGC XF 40, ex-Christensen.

Currency:USD Category:Coins & Paper Money / World Coins By Country Start Price:1,600.00 USD Estimated At:2,000.00 - 4,000.00 USD
CHILE, Valdivia, Chunimpa, emergency issue 2 reales, 1822, very rare, NGC XF 40, ex-Christensen.
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CHILE, Valdivia, Chunimpa, emergency issue 2 reales, 1822, very rare, NGC XF 40, ex-Christensen. Cal-989; KM-2. 4.34 grams. Typically crude and sparse in design, with light toning over muted luster and sediment enhancing the details, a bit more of the rims than usually seen, light marks within the confines of the assigned grade, one of very few original, straight-graded examples, tied with three others for second finest in the NGC census behind a single XF 45.

During the Chilean War of Independence, the prosperous colonial city of Valdivia was divided in its loyalties, and during various battles that eventually ended in favor of the Patriots, each side looted the supporters of the other, leaving a dire coinage shortage. To alleviate that, about 4000 ounces of random silver were collected from the populace and sent to the estate of Chunimpa. There, under the supervision of the owner of the estate, Don Antonio Adriazola, the silver was made into coins in 1822, in the denominations of 1, 2 and 8 reales, with a simple design consisting of the denomination, VA and date on the obverse and a column and three stars on the reverse. Because these “emergency” coins were unofficial and not even proper weight for their values, the Chilean government called them in and melted them down. For that reason, surviving specimens are very rare and plagued by counterfeit copies. Pedigreed to the Christensen auction of September 1984 (lot 774).
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