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Chile 1819 Portales Peso Pattern, PCGS SP62. Click image to enlarge.

PCGS recently crossed over an 1819 Chilean Portales Pattern, a rare piece with a notable legacy. A relic of early independent Chile, the 1819 Chilean Portales Pattern emerged when the fledgling nation's coinage faced criticism over its volcano design and was being targeted by counterfeiters who found the new coins easy to replicate and pass off in circulation.

There was a proposed remedy, or so thought Chile Mint Superintendent J.S. Portales, whose father had also held the same leadership position at the mint. Portales proposed a coin retaining the volcano and globe elements but enhanced by a more elaborate design, adorned with decorative elements surrounding the central devices.

Portales' design was never adopted for circulating coinage, likely owing to the complexity of the engraving required for the motif and the limitations of the mint's equipment and resources in the early 19th century. The Volcano Peso continued in circulation through 1834 and remains of significant interest to collectors today. Meanwhile, Portales' pattern remains a sought-after piece for collectors of early Chilean numismatics, including longtime collector Brian Boosi.

He had angled for the example offered from the Eternal Collection that went up for bids at auction during the August 2025 American Numismatic Association World's Fair of Money. "I underbid for this coin, being caught off guard by the price it achieved and immediately regretted the decision not to chase it further," Boosi wrote on the PCGS Message Board.

Boosi understood how rare the pattern is. Only five are known to exist. He set out to chase the piece down. "A collector friend happened to know the person who bought the coin from the sale. I made an offer and was able to purchase the coin, taking delivery at the [Central States Numismatic Society] show. "Thank you to both my friend and the collector for helping me to add this coin."

Boosi promptly submitted the coin to PCGS for encapsulation, and the piece earned a grade of PCGS SP62. "The Portales Peso is an incredible coin in terms of rarity, design, and history," says PCGS Senior Grader Jay Turner. "It is an honor for PCGS to certify this example and many other wonderful coins from Mr. Boosi's great collection."