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NEWP: Cuba
FilamCoins
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THE STORY BEHIND THE CUBAN 1897 AND THE 1898 PESO
by Emilio M. Ortiz
The year is 1897 and Cuba has been up in arms for the last two years, fighting for the third time since 1868 a war for its independence against Spain. The Cuban Revolutionary Junta in New York is headed by Don Tomas Estrada Palma, Plenipotentiary Delegate of the Republic of Cuba (in Arms) who is responsible in the U.S. for all matters related to the Cuban liberty struggle, with the raising of funds for the cause being of paramount importance. Little did these Cuban patriots know that this time around they would succeed, but only in a roundabout way.
The explosion of the battleship Maine on the night of April 15th, 1898, while at anchor in Havana’s harbor, sparks the Spanish-American War. On April 11th, President McKinley requests authority from Congress to go to war against Spain, which is granted on April 24th. The United States is victorious in the very short period of 10 weeks, thanks largely to the US Navy Fleet, and Spain is forced to request France to help broker a peace treaty. By October 1st, 1898, all parties meet, leading to the signing of the Treaty of Paris later that month. Cuba is finally independent, but the transition period takes almost four years before the Cuban flag is raised over the Morro Castle on May 20th, 1902.
However, back in 1897, the war campaign is in dire need of funds to buy arms and pay the troops. Numerous fundraising events are held from New York City to Tampa and Key West to raise the much-needed money. On March 12, 1897, Andrew J. Cobe, a New York “wheeler-dealer,” writes Estrada Palma, offering his idea to strike a coin that would accelerate “Cuba Libre” such as “a souvenir issue similar to the Columbian half dollar”. The idea catches fire almost immediately and, after the details are spelled out in a letter from Cobe to Estrada Palma on April 17, 1897, an agreement is reached and a contract signed on May 10th to strike 3,000,000 coins with “the first installment to consist of ten thousand coins to be delivered within sixty days from date of this contract.”
To prepare a Plaster Cast of the Obverse and Reverse using a design supplied by Estrada Palma, Mr. Cobe contracts Mr. Phillip Martiny, a designer, sculptor and medalist, who together with Saint-Gaudens, had designed in 1889 the Medal of the Centennial Anniversary of the Inauguration of George Washington as President of The United States. Mr. Martiny declines to charge for his work as a donation to the Cuba Libre cause.
Mr. Martiny also engraves the first group of dies, up to and including my Type 3, placing his initial “M” in the Reverse of these dies. Since his initial does not show in subsequent dies, we theorize that someone else does the engraving thereafter, perhaps under instructions from Gorham Manufacturing.
The Gorham Manufacturing Company in Providence, Rhode Island, is contracted by Cobe to strike the coins. Cobe, very astutely, is able to close two deals back to back, one to sell the coins to the Junta, and the other to buy the coins from Gorham. In the process he will net about $400,000.00 if the three million coins are struck, while the Junta would also earn a nice profit by selling the coins at the full face value of $1.00.
Gorham evidently does not have at hand the equipment required to strike the coins, and therefore to fulfill the delivery of the first installment. To buy time while their equipment is delivered, they subcontract The Dunn Air-Brake Company of Philadelphia to strike the first batch.
Dies are prepared based on the original request of Estrada Palma. Unfortunately the U.S. Government casts a negative judgment on the wording, and they are modified a couple of times before the final version is authorized by Estrada Palma.
From these “trials and errors” comes about the birth of two Bronze Patterns, my Type 1 with Obv. Die 1A, and my Type 2 with Obv. Die 2B. The first one is still unconfirmed, the second one rests in my cabinet.
From July 8th thru July 18th , there are 858 coins struck by Dunn Air-Brake, out of which 30 are defective and destroyed on September 17th , leaving a net population of 828 coins from this very first mintage. This is my Type 3 with Obv. Die 3C, also known as the “Star Below” and is struck in Silver, with a few Bronze Trial Specimens and a reported Gold Specimen presented to Leonor Molina, the Cuban beauty who posed as model for the Liberty Obverse.
On August 3rd 1897, Gorham produces the second batch of coins using its new equipment. One full day of production yields 4,286 coins. This is my Type 3 with Obv. Die 3D, also known as the “Star Above” and is struck in Silver with a few Bronze Trial Specimens.
Meanwhile, Estrada Palma, who is concerned with future unauthorized copies of the design, requests it to be protected by a Patent. This request originates on July 28th, quite late for the first and second batches. Thus, on August 20th, 1897, the Gorham company strikes 4,856 coins with the PAT.97. inscription. By the way, this “Patent” never makes it to the US Patent Office since there is no evidence of any such submission. This is my Type 4 with Obv. Dies 4E, 4F and 4G, which is struck in Silver and where each Die combination is also struck with a few Bronze Trial Specimens.
Several dies are prepared to strike this batch. Evidently no Hub is used since there are extant three Obverse Dies (4E, 4F and 4G), however there is only one new Reverse Die made (2D). Because a Reverse die wears off much slower than the Obverse die, I hypothesize that the Obverse and Reverse dies were mixed and used indiscriminately, which causes the “mule” effect in this batch of coins struck. The combination of Obv./Rev. Dies 4F/2D has not been confirmed so far.
At this time there is no way to determine how many coins were struck with each die combination of Type 4, but simple mathematics yields an average of about 800 coins per combination. A grand total of 10,000 pieces of this Series is struck (thus fulfilling the terms of the contract) minus 30 defective coins destroyed on September 17th, for a net mintage of 9,970 pieces. On March 9th, 1898, the Junta returns five additional pieces to Gorham for destruction in order to square away the accounts. The final net outstanding coinage struck thus settles at 9,965 pieces.
The full original contract is never completed and Cobe subsequently grants all their rights to the Junta, effectively eliminating Cobe as intermediary. After the “Maine” explosion in 1898, the Junta continues this project but this time contracts directly with Gortham to strike 1,000 coins with the new Obverse Die showing “1898” under the bust. This is my Type 5 with Obv. Die 5H and is struck in Silver, Proof and Unc., plus very few Bronze Trial Specimens. The Reverse Die used, in my opinion, is the original Rev. Die 1A cut in 1897 with the wording UN PESO and with the engraved intial “M” of designer Martiny.
All contemporary advertising by the Junta indicates that these coins would be redeemed at a value of $1.00 each by the Treasury of the Republic of Cuba once it became independent. Furthermore, the Republic of Cuba does in fact redeem these coins after 1902, irrespective of whether they bear the year 1897 or 1898. Thus, it is my firm belief that this entire Series should be treated as coins, and not as a medallic issue for 1897 and a coin issue for 1898.
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CU #3245 B.N.A. #428
Don
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Thanks for sharing
Olmanjon
http://bit.ly/bxi7py
<< <i>Beautiful coin. I collect cuban and that would make a wonderful addition. Where would I go to get one and about how much would it cost me?
Olmanjon >>
Just checked Civitas coins website & see Josh has one available click here
Civitas' is a very nice example:
Olmanjon
http://bit.ly/bxi7py
Top Pop!
My interest was initially peaked when I saw a Gold 1915 20 Peso (fell in love with the crest)
Guess it's just something about the era of Bootleg Liquor & Casinos run by Gangsters in Cuba that makes me wanna "go back in time"... <sigh>
<< <i>Guess it's just something about the era of Bootleg Liquor & Casinos run by Gangsters in Cuba that makes me wanna "go back in time"... <sigh> >>
Have you ever seen Robert Redford's "Havana"? Pretty entertaining movie set around that time.
I spent some time in Cuba a few years ago; bone fishing in the Bay of Pigs and (unfortunately :+) handling the marimbas for a Cuban band at about midnight in Havana.
Honestly I loved the place. So much history, so much intrigue as it relates to the 40's and 50's and to the Cuban missile crisis. Great people!
It's like a vault back into time to see the 1950-60's American cars parked all over the place-not collector's items, still running and serving as Cubans' family cars. And
they know how to fix them and keep them running a lot better than mechanics in this country.
Not to get all wound up about it, I did bring home some Cuban currency and a few Che T shirts along with the usual contraband cigars.
Mystique, design, reflections of the culture, stop watches on time-that's what collecting's all about isn't it?
I'm hoping to post a few examples here in the next couple of weeks......
It's just that I got my PCGS grades.
<< <i>Have you ever seen Robert Redford's "Havana"? Pretty entertaining movie set around that time. >>
Nope, Just added that movie to my Netflix Q. Thanks
I _also collect Cuban currency.. Specifically the 1950 1,000 Peso note (pick-84) currently own 38 examples. If anyone is interested Tomas Estrada Palma
Viva La Revolution !
<< <i>
<< <i>Have you ever seen Robert Redford's "Havana"? Pretty entertaining movie set around that time. >>
Nope, Just added that movie to my Netflix Q. Thanks >>
What did you think??
I give away money. I collect money.
I don’t love money . I do love the Lord God.