4 Maravedis Republican coinage

Discussion exists concerning the nature of this piece. The number 4 could be considered face value in Maravedis; a unit commonly used in islands such as this, which would grant it coin status. But it also could be considered the day of independence (commonly used in other Republican coins in Venezuela with 19; for Margarita would be 4 because they joined the Independence some days after the mainland declared it), which would grant it medal status. Both theories have support and further investigation is required.

According to NGC article, there are 6 existing known pieces:

"On April 19, 1810, the fight for Venezuelan independence started when the province of Caracas rejected the authority of the Spanish Government. Soon after, Barinas, Barcelona, Cumaná, Mérida, and Trujillo joined the movement. On May 4, 1810, Margarita Island joined the movement and became the first province to issue its own coinage.

The coins, which were meant to symbolize independence and to commemorate the event, feature a canoe with three rowers wearing Margarita style hats. The canoe is in a raging sea with the sun or moon over the boat. The legend “MARGARITA PERLA PRECIOSA” translates to “Margarita Precious Pearl.” The reverse features the legend “DA FX DIA 4 DE MAIO 1810” around seven stars around the number 4. The seven stars represent the seven provinces that struggled for their independence and the legend can be interpreted to mean “federation decreed on day 4 of May 1810,” though others have interpreted it as “happy day 4 May 1810.” There have been arguments about the 4 representing either the date or the denomination, but both are likely to be true."