1 Sol

Peru's shift to .500 fine silver for this issue — down from the .900 standard of earlier soles — reflected the post-WWI silver price spike that had made higher-purity coinage economically untenable for many minting authorities worldwide. The Casa Nacional de Moneda in Lima was not alone in making this adjustment, but the two-year window of production before further monetary reforms curtailed the type gives the 1922–1923 dates an outsized presence in collections relative to their actual mintage figures.