1887 Colombia 50 centavos Bogota Cocobola silver reales Beautiful Rose Toning

Description: 1887 Colombia 50 centavos graded NGC MS 62. Coin has stunning rose toning on the face of Liberty (based on the likeness of the Colombian First Lady, Soledad Roman) as well as the reverse. This coin was also derogatorily referred to as a "Cocobola." With a mere 11 coins in the NGC census, 6 in Mint State, acquiring a high grade example is exceedingly difficult. Here is an excerpt from Numismatic News about the history of this coin: The Cincuenta centavos known as the “Cocobola” was struck for circulation in 1887. The recorded mintage is quite high, but the coin was extremely unpopular due to the continued reduction in fineness to 50 percent or .500 fine, which had been instituted by Colombian President Rafael Nunez in 1885. To top that off, a new bust of Liberty had been designed for this 50 centavos piece, which was modeled on the likeness of Nunez’s wife, First Lady Soledad Roman. Soledad was as politically active and influential as her husband and the two of them had been moving Colombia in the direction of a very authoritarian nation as a response to a near chaotic, yet freedom enhancing liberal period.Colombia has a rich and confusing political history, which is truly a marvel for historians to study. For purposes of present explanation, suffice it to say that in 1863 following a two year Civil War, the liberal winners renamed the country Estados Unidos de Colombia (United States of Colombia) and created the Constitution of Rionegro, which brought the citizens of the country a great deal of freedom and the states plenty of autonomy.By 1876 these freedoms and independent rule had begun to create problems at the federal level and more conservative politicians repealed the Constitution of Rionegro. They renamed the government the Republic of Colombia since separate state rule had been a big part of the problem for the federal government, and wrote a new constitution in 1886 to back up this federal control. The President became a Congressionally elected position and his term expanded from two years to six years. State Presidents became Department Governors and once their terms were served, the Federal President appointed new people. Those appointed Governors, in turn, appointed mayors throughout their departments, except for Bogota’s Mayor, who was appointed by the Federal president. Elections by the public were basically limited to department assemblies and municipal councils. In effect, the countries’ direction fell under the control of a limited group of people and stayed that way for a very long time.So back to our coin, the Cincuenta centavos of 1887; why was it referred to as “Cocobola”?During the long conservative period following those 23 years of expanded freedoms there were folks who fought to regain what they had lost. In 1885 Colombia found itself in Civil War, with rebels led by Pedro Prestan clashing with Colombian federal troops in the department of Panama within the city of Colon. An American delivery of arms was held up in port, Prestan got mad and arrested some Americans, negotiations ensued, Colombian troops took the opportunity to move in and in the end Colon burned and the American garrison pulled back as there was no hope in saving much of any foreign-owned property that they were there to protect. Afterwards, United States troops returned and occupied both Colon and Panama cities and Prestan was hanged for having given the orders to burn Colon.It’s rather difficult to determine exactly who was responsible for the Burning of Colon and Prestan was eventually absolved of having given the order, though his life had already been forfeited. At the time however, it was believed that, as the DFS Auction 27 lot description explains, “Prestán’s revolt, ostensibly opposing the involvement of the United States of America in the conflict (the US’s interest, of course, being the construction of a canal connecting the Pacific Ocean to the Caribbean Sea), employed two Caribbean liberals, the Haitian Antoine Pautricelli and the Jamaican George Davis, to burn down the city of Colon. George Davis, later hanged for this crime, was better known as “Cocobolo.’”The French had begun work on a canal through Panama in 1881 and all countries, particularly the United States, were watching closely. George Davis was in Panama to work on the Canal, having been hired by the Kingston, Jamaica, agent of the Canal Company, a Mr. Gadpaille. Davis came in on the Royal Mail Company’s steamship, the Dee. He was a big guy, and a big drinker, as many of the Canal workers were.At some point Davis and Pautricelli had left canal work andjoined Prestan’s rebels as they were there in Colon with him. However, after Prestan’s retreat, Davis and Pautricelli were captured in the city by Lieutenant Robert Doyle of the U.S. Navy, arrested, court-martialed, and hung. While Pautricelli denied guilt in a letter to Prestan and in a gallows platform speech, Davis simply said “adios” before being hung.Afterwards, Davis’s nickname of “Cocobolo” was used in Colombia as a derogatory term, meaning “no good.” So when the public realized that the 1887 Cincuenta centavos, a coin already known to be of limited silver content, had a debased piece of currency, and featured their disliked First Lady, they gave it the feminine gender nickname “Cocobola.”

Price: 5200 USD

Location: Staten Island, New York

End Time: 2024-07-20T03:21:43.000Z

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