CHILE: Valdivia, AR 2 reales, 1822, KM-2, local emergency issue, devices reengraved, PCGS graded EF details. Valdivia was a formerly prosperous colonial city and was heavily looted during the struggle for Chilean independence in 1820. Without enough coinage for daily commerce and payment to the local garrison, the governor was forced to collect silverware and any other silver items available from merchants and other residents in order to make coins. Some 4000 ounces of silver were amassed and sent to a new facility on an estate known as Chunimpa, under the supervision of its owner, Don Antonio Adriazola. The coins thus produced were known as "chunimpanas." Striking took place in 1822, in the denominations of 1, 2 and 8 reales, with a simple design consisting of the denomination, VA and date on the obverse and a column and three stars on the reverse. Because these "emergency" coins were unofficial and not even proper weight for their values, they were all called in by the Chilean government and melted. For that reason, surviving specimens are generally quite rare.
Estimate: USD 800 - 1000