Cuban coins are not popular to collect because of their lack of value as a collectible item. Also, certain United States laws prohibit the importation and exportation of Cuban currency produced after 1961. The coins can be purchased legally if they are already in the United States. The penalties for illegally obtaining Castro-era Cuban currency or coins include paying high fines and having the Cuban coins confiscated.Continue Reading
The Castro-era Cuban coins are not deemed collectible because there are so many of them in circulation. This drives the price of the coins down significantly for collectors, making them worth only their face value as currency in Cuba.
The most valuable Cuban coins among collectors are the 1870 provisional and 1897 souvenir coins, which were not intended for circulation. The 1897 coin was produced by the U.S. Mint to raise money for the Cuban independence struggle. The coins were marked as souvenirs and were not able to be used to purchase goods or services.
The coins originally sold for $1. The coin features the face of Liberty on one side and the Cuban coat of arms on the reverse. Approximately 10,000 coins were struck in 1897 with an addition 1,000 struck the following year with a one peso denomination.Learn more about Coins & Currency