137544108628
Description:
URUGUAY, struck in Paris, "shipwreck" peso, 1878-A, rare.
These coins were minted in Paris at the Monnaie de Paris on the standard 0.900 silver planchet, weighing 25 g with a diameter of 37 mm. They are called Peso del Naufragio (“Shipwreck Peso”) because they were produced due to a maritime accident involving the shipment of Uruguay’s coins. In 1877, Uruguay contracted for a shipment of newly minted silver coins (intended for circulation) to be transported from France to Uruguay. On 7 October 1877 the French steamship Paraná ran aground off the coast of Brazil. Among the cargo were a significant number of silver coins destined for Uruguay. Some of the cargo was salvaged in the months after the wreck, but the coins recovered were heavily oxidized and discolored. The Uruguayan Government rejected them due to their poor condition. The minting contractors then received authorization to send the salvaged silver back to France for melting and re-coining. These newly struck pieces, using the recovered metal, were dated 1878 and became known as the Peso del Naufragio. These 1878 Shipwreck Pesos are prized by collectors because of their rarity and the dramatic story behind their production. Contemporary accounts and later auction records show these coins are significantly scarcer than typical issues and command high prices in the collector market.
Code: 012601041003