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500 Pesos Spanish Monarchs
| Issuer | Banco Nacional de Cuba |
|---|---|
| Year | 1992 |
| Type | Non-circulating coin |
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| Obverse description | The Cuban national coat of arms occupies the central field, rendered in fine detail with the shield, Phrygian cap, oak and laurel branches, and the key and fasces. A curved legend arcs above reading REPUBLICA DE CUBA, while the face value 500 PESOS appears below the arms. The weight designation 5 OZ and fineness AU 0.999 are inscribed on either side of the central device. The entire design is framed by a rope or cable border running close to the coin's edge. |
|---|---|
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| Obverse lettering | REPUBLICA DE CUBA 5 OZ 500 PESOS AU 0.999 (Translation: Republic of Cuba 5 ounces 500 Pesos gold 0.999) |
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| Additional information |
Cuba's large-format gold issues of the early 1990s were produced during the "Special Period" — the severe economic contraction that followed the Soviet Union's collapse and the abrupt end of its annual subsidies to Havana, which had been running at roughly $4–6 billion per year. These coins were never intended for domestic circulation; they were minted explicitly to generate hard currency through foreign numismatic sales at a moment when Cuba had almost none.
The 1992 date places this issue in the run-up to the quincentennial of Columbus's first voyage, which drove a wave of commemorative programs across Spain and Latin America that year.