Cuba and Cuban Coins

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Obverse of 1933 Cuban Silver Peso

Obverse of 1933 Cuban Silver Peso

Spanish Settlement
Prior to the arrival of Europeans, Cuba was populated in large by the Taino people, an Arawak ethno-cultural group. The Guanajatabey and Ciboney groups also lived on parts of the island, but the Taino, who were almost entirely settled agriculturalists, where the dominant ethnic group of amerindians.
In 1492, Cuba was discovered by Christopher Columbus on his first voyage to the New World. Columbus claimed what later became known as Cuba for the Spanish Crown. In 1511, the first Spanish settlement was founded at what is now Baracoa under Governor Diego Velázquez de Cuéllar.

Early Spanish Rule
Spanish rule got off to a brutal start. The Spanish were fiercely resisted by the Taino natives, and their most important leader Hatuey, led a guerilla campaign against the Spanish invaders until he was captured and burned alive in 1512. Resistance continued, but within three years, the Spanish had effectively gained control of the Island.
The Spanish built sugar plantations and other industries that were labour intensive, and the Spanish captured many natives from Cuba and other Caribbean islands in order to use them as slaves. Diseases such as smallpox and measles wreaked devastation upon the native population, and by 1550, the Taino civilisation had effectively been destroyed through a process of conquest, massacre, enslavement, epidemic and assimilation. In later years, millions of slaves were imported from Africa to work on the sugar and tobacco plantations that provided the basis of the Cuban economy. The abolition of the slave trade in 1807, enforced by the Britain's Royal Navy, encouraged advancements in sugar refining technology to make the industry less reliant on cheap labour.

19th Century and Cuban Independence
In the aftermath of the Napoleonic Wars, most of Spain's American Empire rose up in revolt against the Spanish Motherland. Spain's colonies in Southern and Central America succeeded in throwing off the Spanish yolk, but Cuba remained loyal to Spain, partly because the outnumbered white Hispanics feared a slave revolt of the kind that had seen Haiti taken over and ruled by former slaves, and also because the Cuban economy was heavily dependent upon trade with Spain. Nevertheless, in 1868 a major revolt broke out which was only suppressed with the greatest of difficulty by the Spanish in a war lasting ten years, known as the 'Ten Years War' of 1868-1878. Slavery was abolished two years after the end of the War. However, fighting broke out once again in 1895. This time, the rebels were more successful, and essentially confined the Spanish to the major towns and cities. However, the war did not end until the Americans intervened, prompted by a an explosion which sunk the American battleship USS Maine in Havana Harbour, which the Americans accused the Spanish Government of causing through sabotage.
By 1898, the Americans, cooperating with the Cuban Rebels, defeated the Spanish and by 1902, Cuba was a sovereign independent nation.

Dictatorship
From 1902 until the 1925, Cuba was a democracy. However, Gerado Machado who was elected in 1925, turned into a despot who suppressed his political opponents by force and refused to leave office when his constitutional term as president expired. He was toppled in 1933 and replaced by Carlos Quesada, who was himself toppled a few weeks later by army sergeant Fulgencio Batista, in a revolt known as 'The Revolt of the Sergeants'

Batista and the Rise of Fidel Castro
Batsista went on to play a dominant role in Cuban politics until 1959, and was president himself between 1940-44 and in 1952-59 (the latter as the result of a military coup). Batista's rule was marked by brazen corruption, brutality and a sleazy relationship with the American Mafia. This violent dictator was himself brought down by a violent communist revolution led by Fidel Castro and the charismatic revolutionary Che Guevara. Fidel Castro went on to rule Cuba for over 50 years, during which time he brought Cuba into a close alliance with the Soviet Union. An attempt by the Soviets to place nuclear missiles in Cuba aimed at the US led to the Cuban Missile crisis, bringing the US and the Soviet Union to the brink of nuclear war. Fortunately, this crisis was defused, but the US spent many years trying to assassinate the Cuban leader, most notoriously involving an alleged plot to kill him with an exploding cigar.
America imposed an embargo on Cuban trade and travel (preventing trade between the US and Cuba, and preventing travel to Cuba) in 1960 which still exists to this day. In 2008, due to ill health, Fidel Castro gradually handed power to his brother Raul, and has since essentially retired from public life. Cuba today remains a communist dictatorship, but one which is often cited as a successfully progressive one with a high standard of living (or at least a reasonably successful welfare state) with free education and healthcare. Despite this, political opponents are still frequently imprisoned without trial amongst other human rights abuses.

Cuban Coins
Naturally enough, Cuba's first coins were those of the Spanish Empire, based around the 8 Reale piece, also known as the Spanish Dollar until 1857, when a Peso specific to Cuba was introduced. In 1881, the Peso was pegged to the US Dollar at Par. However, it wasn't until 1915 that Cuban coins were first struck. At this time coins of cupro-nickel 1, 2 and 5 centavos and silver 10, 20 and 40 centavos were issued. Silver Pesos were introduced in 1934. The last silver circulation issues were struck in 1953. Today coins of 1, 2, 5 and 20 centavos and 1 and 3 pesos are issued for circulation (the latter denomination was introduced in 1990).
Interestingly, Cuba has two official currencies. The National Peso is the one commonly used in circulation by the Cuban population, but the Convertable Peso is the currency used by tourists and those buying 'luxury' items. The Convertable Peso is officially equivilent to the National Peso, but in practice is worth 24-25/1. Coins are issued in the convertible Peso include 1, 5, 10, 25, 50 Centavos and 1 Peso. Until recently, they were issued at par with the US dollar but have since been devalued slightly.

For Sale and Wanted
If you are interested in coins from Cuba please see our product index:-
Cuban Coins

Gold Coins
We also have gold coins from Cuba on our taxfreegold website:-
Cuban Gold Coins