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10 Centavos Compañia de Obras Públicas y Fomento del Perú
| Issuer | Compañia de Obras Públicas y Fomento del Perú |
|---|---|
| Year | 1876 |
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| Value | 10 Centavos (0.10 PEH) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | LA COMPAÑIA DE OBRAS PUBLICAS Y FOMENTO DEL PERÚ 10 Pagará al portador DIEZ CENTAVOS en moneda corriente. Lima, Julio 4 de 1876. DIRECTOR PRESIDENTE Compañia Nacional de Billetes de Banco. Nuevo York. (Translation: The Public Works and Development Company of Peru will pay to the bearer Ten Cents in current currency. Lima, July 4, 1876. National Bank Note Company. New York.) |
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| Reverse lettering | COMPAÑIA DE OBRAS PUBLICAS Y FOMENTO DE PERÚ 10 DIEZ CENTAVOS Compañia Nacional de Billetes de Banco, Nueva York. National Bank-Note Company, New York. (Translation: Public Works and Development Company of Peru Ten Cents) |
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| Comments |
The Compañia de Obras Públicas y Fomento del Perú was a foreign-financed public works concession operating during Peru's guano-boom years, and its fractional notes — including this 10 centavos — were issued because the Peruvian government had effectively run out of small-denomination coin. The National Bank Note Company, one of the leading American security printers of the period, produced the series from its New York facilities.
The timing is everything here. Within two years of this note's issue, Peru was in sovereign default, the guano revenues had collapsed, and the company itself was absorbed into the wreckage of the 1876 financial crisis.