Cuba 10 peso Gold Coins
Prior to the Spanish-American war of 1898 Spain ruled the small island country of Cuba, located just 90 miles south of the Florida Keys. Upon winning the war, the United States took control of the country and assisted in its recovery as a protectorate of the United States. During the time from 1898 until legislation was passed by the Cuban government in 1914 to create its own currency, the US dollar was the official currency of Cuba.
In 1915 new coins were minted in the United States using .900 fine American gold and silver for Cuba. This practice continued for decades with the smaller denominations, but gold coins were minted for commerce in Cuba only in 1915 and 1916. Their economy never recovered to a point where minting more gold coins was necessary, and without demand for the coins, production ceased as abruptly as it had begun.
Cuba - a Troubled Nation
No period in recent Cuban history has been as peaceful as Americans have grown accustomed to experiencing. From the time of the Spanish-American War in 1898, Cuba has suffered periods of corruption, communism, and war, but undoubtedly the most peaceful period in their history was the five decades from 1902 when they gained independence until 1952 when a dictatorial regime ceased control of the country.
American Tension with Cuba
Since 1959 Cuba has been under the rule of the Castro regime, who immediately (and secretly) partnered with the Soviet Union for financial support in trade for strategic position against the United States. This overthrow of the previous dictator was initially viewed favorably by the United States, but it soon was discovered that Castro was helping the Soviets. In 1960, president Dwight Eisenhower approved a plan to arm and train Cuban refugees to invade and cease control of the island. The invasion, known as the Bay of Pigs, failed to overthrow the new regime. US President John F. Kennedy was the recipient of the problems caused by this move, and in 1962, authorized sanctions against Cuba to force them to change their polarity. This, too, failed.
Before Kennedy's presidency, American military intelligence found evidence of short and long-range ballistic missiles capable of delivering nuclear warheads in Cuba. Obviously of Soviet origin, the deployment was a direct reaction by the Soviets to the American deployment of similar missiles within range of Moscow. A standoff ensued over the removal of the missiles that increased tension between the two superpowers to within hours of full nuclear war in 1962 in what is known as the "Cuban Missile Crisis." Eventually both sides agreed to remove the missiles that concerned the other averting the seemingly inevitable war.
Owning Cuban Gold Coins
Heavy international sanctions were placed on Cuba after the missile crisis (1962) that banned the import of any Cuban goods to the United States. This sanction, while still in place today, is being reviewed for closure in light of recent events. Some may question the legality of owning coins from Cuba, however the sanction only covers goods and currency made since 1962. These coins were minted by the United States during a much earlier period and do NOT fall under the sanctions against Cuba. They are perfectly legal to own by Americans.
|Year of Issue:||1915|
|Weight in Grams:||16.72 g|
|Weight in Ounces:||1/2 oz|