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Puerto Rico Hacienda Token?

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XavierOfGreen's Avatar
United States
2589 Posts
 Posted 08/05/2012  8:32 pm Show Profile   Bookmark this topic Add XavierOfGreen to your friends list Get a Link to this Message Number of Subscribers
I recently bought a bunch of tokens off of a local dealer for next to nothing and among them is this one. It appears to be some type of puerto rican hacienda token.
The obverse reads Policarpo Mosquera 1/2 real
The reverse reads Hacienda La Yngenio

I assume Policarpo Mosquera is the owner of the hacienda and that the token was issued in Yngenio puerto rico some time before 1900. If anyone has any idea about what this thing actually is and its potential value I would be greatly appreciative. I've seen hacienda tokens sell into the hundreds of dollars, so I'm rather excited at the prospect of learning more about it.



Thanks!,
XoG

Puerto-Rico-Hacienda-Token?
Valued Member
Guatemala
357 Posts
 Posted 08/05/2012  10:45 pm  Show Profile   Bookmark this reply Add JMerrick to your friends list Get a Link to this Reply
It actually appears to be Venezuelan. Here's a link to a 2 real example up for sale right now: http://www.tiendamicro.com/TM-39152...2-reales.php

At the current rate of exchange, the seller is asking a bit over USD$500.

While, admittedly Venezuelan is not my specialty, (Guatemalan and Mexico are), I'd say yours is in the neighborhood of USD$300, provided you do a little conservation work to remove the verdigris. Yours is definitely a better piece over all.
Edited by JMerrick
08/05/2012 11:00 pm
Pillar of the Community
Peter THOMAS's Avatar
Australia
2830 Posts
 Posted 08/06/2012  01:49 am  Show Profile   Bookmark this reply Add Peter THOMAS to your friends list Get a Link to this Reply
I'm slowly acquiring some bordello tokens, mostly from France.
Are hacienda tokens the same sort of thing, or something else ?
Valued Member
Guatemala
357 Posts
 Posted 08/06/2012  08:41 am  Show Profile   Bookmark this reply Add JMerrick to your friends list Get a Link to this Reply
Not exactly...

Hacienda/finca tokens were privately minted coinage used on a large (usually) farm or hacienda and used to pay the peasants working that piece of land, instead of using actually cash. These tokens were only valid on the property and forced the employee to give all of their money back to the owner, vs. being able to take their pay to a market, and buy merchandise for a much lower price.

They were made illegal in most countries by the end of the 19th century, though here in Guatemala, they were legal until General Ubico was overthrown, in the WWII period, although they were not used much by then.
Pillar of the Community
Peter THOMAS's Avatar
Australia
2830 Posts
 Posted 08/06/2012  09:40 am  Show Profile   Bookmark this reply Add Peter THOMAS to your friends list Get a Link to this Reply
thankyou for the explanation.
Pillar of the Community
XavierOfGreen's Avatar
United States
2589 Posts
 Posted 08/06/2012  12:41 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
Hmm I see a couple of the 2 reales denominations for sale on various websites, but I dont see any of the 1/2 denomination at all. Perhaps its alot scarcer?
Valued Member
Guatemala
357 Posts
 Posted 08/06/2012  12:52 pm  Show Profile   Bookmark this reply Add JMerrick to your friends list Get a Link to this Reply
There were roughly 6 denominations minted. The screwy part of hacienda pieces is most people think backwards when dealing with tokens, and assume there are more lower denomination pieces than there were large. That actually isn't the case. The owners would mint as few lower denomination pieces as possible, so that they would be unable to make change, and the peasant would have to buy more. For example, if the peasant worked for 6 days a week, and made a half a real a day, you didn't want to give him any halves. You wanted to give him 1 coin of 3 reales, if possible, or a 1 real coin and a two. That way, he was forced to buy more than he probably wanted, in a captive market.

Your example is definitely better than those 2 reales I see being listed right now, and by all rights, should be worth more than they are, both because of condition, and frankly, because the lower denominations are rarer. Unfortunately, you have an awesome piece, that I would be thrilled to own, but you have to deal with the quirkiness of the market, where people "think" a higher denomination is better.

Here is a cut and paste, and basic translation from the site I mentioned above that shows the information from the book on Venezuelan tokens...

SHEET CROSS YNGENIO HACIENDA
REAL 2
no date

on page 80 of "tokens, signs and webs of Venezuela"
Lagoven book, the author geologist Gorgias Garrigue, it states:
"with the cross. this Mosquera Polycarp was owned
and remained in the population of the council.
issued with a series of at least 6 tokens of different denominations of excellent workmanship and beautiful design.
the tokens are made ​​of brass, decorated with a cross,
name of wit and surrounded by cane palms sugar. "

While I can't back it up right now, I have a strong suspicion that this hacienda was in the Mosquera family, which included presidents of Gran Columbia, and Columbia. If such an association can be established, the value is certainly much, much higher.
Edited by JMerrick
08/06/2012 1:05 pm
Pillar of the Community
XavierOfGreen's Avatar
United States
2589 Posts
 Posted 08/06/2012  6:21 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
Thank you very much for the info! I wish I had access to that Venezuelan token guide so I could find its catalog number. If it were sent out for grading it would definitely get a details grade I imagine.
Valued Member
Guatemala
357 Posts
 Posted 08/06/2012  6:30 pm  Show Profile   Bookmark this reply Add JMerrick to your friends list Get a Link to this Reply
XoG,

Normally, I don't advise conservation attempts, because the tokens are such an underrated and misunderstood topic for most collectors. This piece, however, is well worthy of conservation, and would certainly be a solid cornerstone should you consider doing some of the tokens. Heritage has a collection of 300+ tokens coming up soon, but with no pictures, and a $750 minimum, I don't feel comfortable bidding without some serious photographs.
Valued Member
Guatemala
357 Posts
 Posted 08/06/2012  7:26 pm  Show Profile   Bookmark this reply Add JMerrick to your friends list Get a Link to this Reply
XoG,

You might want to pick up a copy of Rulau's guide, which is available on Amazon via this link. Since the copies are used, they aren't terribly expensive. http://www.amazon.com/exec/obidos/A...hengrimslesh
Edited by JMerrick
08/06/2012 7:28 pm
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