El Cuban ABC Peso It is one of the most enigmatic and coveted coins in the Caribbean. Minted between 1934 and 1939, this coin never officially circulated, fueling its mystery and value among collectors. Although it was designed to back Cuban paper currency, its nickname "ABC" evokes a complex period of political turmoil, and its rarity—especially that of the 1937 coin—has turned it into a numismatic legend.
History of the “ABC” Peso
The issuance of this currency originates in a time of political transition. After the fall of the dictator Gerardo Machado In 1933, several members of the clandestine group SPC (an organization founded in 1931 to overthrow the regime) became part of the new government. The lawyer Joaquín Martínez Sáenz, leader of the ABC, was appointed Secretary of the Treasury and personally supervised the design of the currency.
Despite its popular nickname, the term "Peso ABC" was not used at the time. It was introduced years later by the numismatist Thomas Lismore in his 1955 work, to honor the influence of Martínez Sáenz on his creation.
These coins were authorized by the Decree-Law No. 93 of 1934, con el objetivo de support the “silver certificates” in circulation, at a ratio of 1:1. They remained in the state vaults, not officially circulating, until 1950 It was decided to melt them down due to the rise in the price of silver as they were no longer needed as monetary backing.
Technical Specifications and Dimensions
Diameter: 38 mm
Thickness: 2.9 mm
Weight in grams: 26,7295 grams
Characteristics of the song: Fluted
Design and representation of the currency
Obverse: The obverse of the Cuban Peso ABC centrally features the Cuban national coat of arms, composed of a field divided into three parts: in the upper part, a rising sun behind the sea and a key between two land masses, symbolizing Cuba's strategic position between the Americas; in the lower left field, vertical bands representing the colors of the flag; and on the right, a Royal Palm on a mountainous landscape. The shield is framed by a Laurel wreath, a symbol of victory and honor. To the left of the shield is the inscription in capital letters “ONE WEIGHT", and below, centered at the bottom, the name of the country:"REPUBLIC OF CUBA”. In the upper left part of the field the details are given. “900 M” silver grade and the exact weight “26.7295 G”, technical data indicating its high purity and metallic precision. The sober and symmetrical design communicates institutional strength and patriotic value.
Back: The reverse of the Cuban Peso ABC features the bust of a female figure facing right, representing an allegory of the Republic, with classic and serene features. The figure carries a headband with bay leaves, a symbol of victory, wisdom, and freedom. In the upper right corner is a five-pointed star radiating rays of light, a recurring symbol of national sovereignty. Just below the star, the motto is inscribed in bold typography. “HOMELAND AND FREEDOM”, fundamental principles of the Cuban Republic. The year of issue appears in the lower right corner, using a typographic style unique to that year. The entire design, sober and balanced, projects a strong message of national identity and republican values.
Composition of the Currency
The Cuban Peso ABC was minted with a metallic composition of 90% silver (0.900 grade) and 10% copper, which gave it a remarkable quality and resistance. Each coin contained approximately 24.05 grams of pure silver, which increases its intrinsic value and appeal among collectors and investors in precious metals. Throughout its production, the ABC Peso maintained its purity constant, without alterations in its metallic law. Later, between 1950 and 1954Most of these coins were melted down and sold on the international market, contributing significant resources to the Cuban state's reserves.
Manufacturing Mints and Mint Marks
All the ABC Peso coins were minted at the Philadelphia Mint, United States, an institution responsible for producing coins for several Latin American countries during that period. As was common practice at this mint for issues destined for Cuba, The coins do not have a visible mint mark, which can make it difficult to identify at first glance, although its origin is fully documented in the official records of the National Bank of Cuba and other reliable historical sources.
Below is a table with relevant mintage information, including the year and the number of coins minted:
| Year | coinage | Notes |
|---|---|---|
| 1934 | 7 000 000 | |
| 1934 | Matte Proof | |
| 1935 | 12 500 000 | |
| 1936 | 16 000 000 | |
| 1937 | 11 500 000 | Very scarce (read the data "The case of 1937") |
| 1938 | 10 800 000 | |
| 1939 | 9 200 000 |
Information partially obtained from numist
Current Numismatic Value
More than 95% were meltedToday, its value depends on the year, state of preservation, and rarity.
The case of 1937
Popular theory says that a bag of coins broke on the dock when it was loaded onto the ship. "Homeland", and several pieces were left out of official control. Other legends mention maritime accidents and failed negotiations. However, recent studies (Menchaca, 2023) dismiss these stories and point to a bureaucratic error that sent all the 1937 coins to the foundry, without keeping numismatic remnants.
This would explain the extreme shortage of that year, making them virtually impossible to find under high conditions.
Examples of auction prices
- 1 Peso “ABC” 1934, MS66: It fetched $13,200.00 USD at a 2021 auction.
- 1 Peso “ABC” 1935, MS65+: It fetched $3,840.00 USD at a 2019 auction.
The Peso ABC is not just a coin, but a symbol of a turbulent period in Cuban history. Its beauty, political history, and rarity—especially the 1937 issue—make it a centerpiece in any numismatic collection.
If you're passionate about Latin American monetary history, keep browsing our site to discover other gems like this one.
Author's note
This article is based on documentary data extracted from the study “Cuban ABC coins: destroying myths”, by Roberto Menchaca García, published in the Numismatic Magazine Hécate (2023).
Note: Some images shown in this article were obtained from Stack's Bowers, for illustrative and educational purposes.
