PERU. North Peru. 8 Escudos, 1838-M. Lima Mint. PCGS AU-58 Secure Holder.Fr-87; KM-156. RARE two year type. Tied with 2 others as second finest graded at both PCGS and NGC with only one finer at MS60. A great example for the type. Bold strike with nearly full mint luster. Choice and highly desirable as such.Struck during the brief three year period of the Peru-Bolivian Confederation 11 August 1836 to 25 August 1839, which was an attempt to restore the ancient union of Alto Peru (Upper Peru, now Bolivia) and Bajo Peru (Lower Peru, now Peru) and from its inception was seen as a threat to neighboring Chile and Argentina. Due to chronic political unrest, internal division and after several failed previous attempts Bolivian President, Marshal Andres de Santa Cruz seized his opportunity in 1835 when Peruvian President General Luis Orbegoso requested assistance to fight the rebel armies of Agustin Gamarra and Felipe Santiago Salavery each of which were decisively defeated at the battles of Yanacocha 13 August 1835 and Socabaya 7 February 1836 respectively. Afterwards Orbegoso regained his leadership and acceded to the formation of the Peru-Bolivian Confederation. Santa Cruz was named Supreme Protectorship and Orbegoso maintained his presidency of the newly created Republic of North Peru. Santa Cruz called a congress of the northern departments of Peru and founded the republic 11 August 1836 and together with South Peru recognized him as Supreme Protector which enabled him to create the Peru-Bolivian Confederation 28 October 1836. The following May a Constitution was established and a pact was signed naming the Supreme Protector for a period of ten years. Santa Cruz was seen as an Authoritarian increasing state revenue while reducing expenditures which led to resistance and declarations of war by Chile 28 December 1836 and Argentina 9 May 1837. The Supreme Protector was defeated at the Battle of Yungay 20 January 1839 which forced the dissolution of the Confederation. The joining of the Republics of North and South Peru to become one united Peru was announced after Agustin Gamarra became president on 25 August 1839 and the dissolution of the Confederation was officially declared separating from Bolivia.From the Blue Moon Collection.
