July World Gold Special Offer

Peru 1 Libra – ‘South American Sovereign’
Quantity Available: Now just 85 coins left available
Condition: AU/AU+

Our July World Gold Special Offer features the elusive and very rarely seen Peru 1 Libra gold coin.  In 1901, Peru adopted a gold standard linked to that of Britain, with a Libra (pound) equal to 10 Soles equal to a Sovereign.  The Peru Libra were minted to the exact specifications of the British Sovereign (.2354 oz. gold).

There was a saying in the early 1900’s that the sun never set on the British empire and Sovereigns – the main circulated unit of currency for the empire – were minted on every continent but Antarctica.  Along with the Colombia 5 Pesos (that were also pegged to Britain), the Peru 1 Libra are known colloquially as ‘South American Sovereigns’, and are by far the scarcer of the two South American Sovereign coin types.  A further note to scarcity, the total mintage of Peru 1 Libra coins (approximately 4 million) is dramatically less than even most single year productions Sovereigns minted at the Royal Mint in Britain.  Like in the United States, this coin was demonetized in 1932, with many coins circulating at the time recalled and melted, implying surviving populations are far less even still than the already limited original mintages.

Offered only a handful of times in company history, and only a handful a coins at time at that, this offer is both the largest (300 coins), and most diverse representation of dates we’ve ever seen.  The vast majority of Peru 1 Libra coins were minted from 1916-1918 when the United States actually provided hundreds of thousands of planchets (blanks) for their production.  This particular grouping has numerous examples of all dates comprising the pre-1933 mintage range.  All coins are conservatively offered in Almost Uncirculated condition (with many low grade uncirculated examples mixed in), and offered here competitively with standard British Sovereigns on a per ounce basis.

The obverse of the coin displays the Peruvian Coat of Arms, with the inscription “REPUBLICA PERUANA – LIMA” and the year of minting beneath it, symbolizing Peru’s national pride and sovereignty. The reverse features an bust of an Incan warrior facing right, with the value below, and is inscribed with “VERDAD I JUSTICIA · UNA LIBRA ·”, translating to “Truth and Justice One Libra”, reflecting the core values of the Peruvian society and the denomination of the coin.

Historical Comment:

The Lima Mint, established in 1565 by a royal decree from King Philip II, was a strategic move by the Spanish crown following the conquest of the Inca Empire by Francisco Pizarro. Situated in the newly founded city of Lima, the mint capitalized on the abundant silver resources from the Andes, particularly from the Potosí mines, to produce coins that were crucial for the Spanish Empire’s economy. Starting operations in 1568, the Lima mint is the longest continually running mint in the Americas and the same location where famed Gold Doubloons were struck.