Peru 1988 50 centimos
This type, issued 1985-87 from Lima, reflects the accelerating pace of inflation which devastated Peru in the late 1970's and 1980's. Beset by the Sendero Luminoso rebellion, growing narco-trafficking influence and corrupt, incompetent military rule, the regime attempted to check inflation by reforming the currency; 1000 soles = one inti. This reform failed and another reform was instituted in 1989. The bust is of Admiral Grau, victor of a naval battle against the Chileans in which he was killed.
Recorded mintage: 80,000,000.
Specification: 5.20 g, brass, 23 mm diameter, plain edge, designed by Manuel Chavez.
Catalog reference: KM 295.
- Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1901-2000, 42nd ed., Iola, WI: Krause Publications, 2014.
- Yabar Acuña, Francisco, Monedas Fiduciaras del Peru, 1822-2000, Lima, 2001.