diff --git a/src/cmp/cmptype-assert.lsp b/src/cmp/cmptype-assert.lsp
index 72ba6a1a1..d485d6512 100644
--- a/src/cmp/cmptype-assert.lsp
+++ b/src/cmp/cmptype-assert.lsp
@@ -101,10 +101,17 @@
            (c1checked-value (list (values-type-primary-type type)
                                   value)))
           ((and (policy-evaluate-forms) (constantp value *cmp-env*))
-           (unless (typep (ext:constant-form-value value *cmp-env*) type)
-             (cmpwarn "Failed type assertion for value ~A and type ~A"
-                      value type))
-           value)
+           (if (typep (ext:constant-form-value value *cmp-env*) type)
+               value
+               (progn
+                 ;; warn and generate error.
+                 (cmpwarn "Failed type assertion for value ~A and type ~A"
+                          value type)
+                 (c1expr `(error 'simple-type-error
+                                 :datum ,value
+                                 :expected-type ',type
+                                 :format-control "The constant value ~S is not a ~S"
+                                 :format-arguments (list ,value ',type))))))
           ;; Is the form type contained in the test?
           ((progn
              (setf form (c1expr value)
diff --git a/src/tests/normal-tests/compiler.lsp b/src/tests/normal-tests/compiler.lsp
index f52870568..ffebcf959 100644
--- a/src/tests/normal-tests/compiler.lsp
+++ b/src/tests/normal-tests/compiler.lsp
@@ -1182,3 +1182,19 @@
     (is-eql 10 (f2 10))
     (compile 'f2)
     (is-eql 10 (f2 10))))
+
+;;; Date 2017-06-27
+;;; Reported by Fabrizio Fabbri
+;;; Description
+;;;
+;;;    Compiled function drop argument type checkin
+;;;    on constant.
+;;;
+;;; Bug https://gitlab.com/embeddable-common-lisp/ecl/issues/353
+(test cmp.0053.check-values-type-on-constant
+      (handler-case 
+          (funcall (compile nil
+                            '(lambda () (rplaca 'A 1))))
+        (simple-type-error () t)
+        (error () nil)
+        (:no-error (v) (declare (ignore v)) nil)))