The Uruguayan silver peso, minted between 1878 and 1895, is one of the most iconic coins for collectors in Latin America. Its classic design, high purity, and historical significance make it a key piece of XNUMXth-century numismatics. These coins not only circulated widely in their time but also reflect the influence of the international monetary system in Uruguay.
History of the Uruguayan Silver Peso
The 1 peso silver coin series was minted between 1878 and 1895, at a time when Uruguay was seeking to consolidate its monetary identity and align its system with international standards. The first issue of 1878, known as the "Shipwreck Peso," was minted in Paris with a mintage of 100,000 pieces, of which only 43,200 survived after a maritime accident. Coins were subsequently minted in 1893 and 1895 at the mints of Santiago de Chile and Buenos Aires, respectively. These issues reflect the country's stability and economic growth during that period.
Technical Specifications and Dimensions
Diameter: 37 mm
Thickness: 2.36 mm
Weight in grams: 25 grams
Characteristics of the song: Fluted
Design and Representation of the Currency
Obverse: It features the national coat of arms of Uruguay, surrounded by laurel and olive branches, with a five-pointed star at the bottom and a radiant sun at the top. The legend "EASTERN REPUBLIC OF URUGUAY” frames the design.
Back: Displays the face value “1 WEIGHT” within a laurel wreath, with the inscription “FREE AND CONSTITUTED" at the top and the year of minting at the bottom.
Symbolism of each design element: The coat of arms represents national unity and sovereignty, while the radiant sun symbolizes the nation's freedom and rebirth. The laurel wreath is an emblem of victory and honor.
Composition of the Currency
Throughout its issue, the coin maintained a constant composition of 0.900 silver, aligning with the standards of the Latin Monetary Union. No changes in purity were recorded during the period from 1878 to 1895. This consistency reflects Uruguay's economic stability and its desire to maintain confidence in its currency.
Manufacturing Mints and Mint Marks
- 1878: Paris Mint, France (mark “A”)
- 1893: Santiago Mint, Chile (“So” mark) and Buenos Aires Mint, Argentina (no mark)
- 1895: Mint of Buenos Aires, Argentina (unmarked)
Below is a table with relevant coinage information, including the year, mint mark, and number of coins minted:
| Year/Mint | coinage | Notes |
|---|---|---|
| 1878 A | 100 000 | 43,200 coins melted down after their recovery at sea |
| 1893 | 600 000 | Variant with number 3 with a rounded top |
| 1893 So | 500 000 | Variant with flat-topped number 3; there is a variety with an overdate |
| 1895 | 1 000 000 | There are variants in the star on the obverse, pointing to different positions |
Information partially obtained from numist
How to identify mint marks
Mint marks are usually found below the shield on the obverse or near the bottom edge on the reverse. Identifying these marks is crucial to determining the coin's provenance and, in some cases, its value.
Current Numismatic Value
The value of these coins varies depending on the year, mint, condition, and rarity.
Examples of auction prices
- 1 Peso 1893 So, MS62 by NGC: It reached $660.00 USD in December 2022
- 1 Peso 1893 So, MS62 by PCGS: It reached $576.00 USD in October 2022
The Uruguayan silver peso from 1878 to 1895 is a numismatic gem that reflects the history, culture, and economy of XNUMXth-century Uruguay. Its elegant design, high purity, and historical significance make it a must-have for collectors and enthusiasts. We invite you to explore more about Uruguayan numismatics and discover other fascinating coins on our website.
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Some images shown in this article have been obtained from Heritage Auctions, for illustrative and educational purposes.
