HONDURAS - HONDURAS Republic. 20 pesos 1888, Tegucigalpa. Av. REPUBLICA DE HONDURAS. Round central part with arms of Honduras: on the sea, pyramid with two towers and a volcano in front of the rising sun. Around, two horns of plenty; above banner inscribed UNION under five stars; below banner inscribed PAZ PROGRESO I LIBERTAD; At bottom, (date) VEINTE PESOS 0.900. Rv. 15 DE SETIEMBRE DE 1821. Head of Liberty laureate left, between a caduceus and a trident in saltire, left and right; signature FRENER; in exergue: CENTRO-AMERICA. KM.57 - Fr.4; Gold - 33 mm - 6 h This is the third highest grade! NGC XF 40 (1526899-001). Very rare with at most about thirty examples struck and only 4 graded at NGC! Some minting weaknesses on the caduceus. Regular wear, with a light golden patina. VERY GOOD CONDITION. This is the first Honduran gold coinage, with the gold coming partly from Olancho and partly from Minas de Oro [north-east of Comayagua], under the Latin Union (900 thousandths). Only 788 pesos were minted in face value, including 1, 5 and 20 pesos (plus 330 pesos in 10 peso coins minted in 1889). There are only 4 or 5 known 1888 20 pesos, one NGC MS 61 (private collection), one NGC AU 58 (Stack's Treasure Auction 26, November 2019, no. 942), our XF 40 example and a VF 30 example, Eliasberg collection (April 2005, no. 3069).