Costa Rica 1923/1902 colon
This specimen was lot 70421 in Stack's Bowers Collector's Choice sale (Costa Mesa, CA, October 2021), where it sold for $110. The catalog description[1] noted,
"COSTA RICA. Colon, 1923. San Jose Mint. PCGS AU-58; Countermark: AU Details. Counterstamp placed upon a 1902-CY Costa Rica 50 Centimos. Hardly handled, this tremendous minor features a great deal of remaining brilliance as well as an alluring iridescent tone as one approaches the peripheries.
The early portion of the 20th century was difficult for many Latin American countries and Costa Rica was not immune to the pain. Faced with a loss of currency purchasing power and an economy that struggled as a result, they, like other surrounding countries, felt compelled to make dramatic financial changes. For Costa Rica, part of this change included issuing debased silver coinage at 0.500 fine and striking minor denominations in brass. The decree of 1923 extended these efforts, calling for all circulating silver coinage to be revalued at twice their face value, the 25 Centimos being overstamped 50 Centimos and the 50 Centimos becoming a Colon."
During the financially difficult years of 1914-1925, silver coins in Costa Rica were revalued for double the original denomination. The example shown is a 1902 50 centavos, revalued in 1923 to one colon.
Recorded mintage: unknown.
Specification: 12.50 g, 0.900 fine silver.
Catalog reference: KM-164.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- Gurdian, Raul, Contribucion al Estudio de las Monedas de Costa Rica: 100 Años de Colon, 2a Ed., San José, Costa Rica, 1997.
- Stickney, Brian, A Monetary History of Central America, New York: American Numismatic Society, 2017.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, The October 2021 Collector's Choice sale: World and Ancient Coins, Costa Mesa, CA: Stack's Bowers LLC, 2021.
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