25 Centavos

El Salvador's silver coinage of this period was struck under contract at the San Francisco Mint, a common arrangement for Central American republics that lacked domestic minting infrastructure. The 1912 date places this piece within a politically turbulent stretch — the country had cycled through multiple presidents in the preceding decade, several removed by force, and monetary policy was frequently subordinated to the interests of coffee export oligarchs who effectively controlled fiscal decisions.

KM#123 is not a long-running type, and survivors in collectible condition are genuinely scarce in the North American market.