The Junta Or Delegation of the Cuban Revolutionary Party established in New York City in 1892 decided to issue coins besides bonds and stamps. In 1897 the designs were created by Philip Martiny in conjunction with the Gorham Manufacturing Company. Because of the urgency the words “un peso” were replaced by “souvenir” as patents were being awaited. The type I were struck at the Dunn Air-Brake Company in Philadelphia from dies and polished flans provided by the Gorham Company. A total of 858 pieces were struck and 30 pieces were destroyed as being defective. Over 4,000 of Type II were struck at Providence, Rhode Island and a progressive die break halted production. The balance of 4,856 pieces of Type III were struck the following day, completing the original order of 10,000. In March 1898 the Junta authorized The Gorham Company to mint 1,000 un pesos. In 1902 the balance of the unsold souvenir pesos of Type III were deposited in the National Treasury and remained there for over fifty years. Today the original 858 pieces of Type I in brilliant uncirculated condition are worth about $5,000. The proof are valued about $8,000, whereas the Type II is valued at $1,000 in uncirculated condition.