Bolivia 1719-P Y 8 reales
The Spanish colony of Upper Peru produced hammered cob coinage at the Potosí mint from 1573 to 1773, with a major debasement scandal and subsequent reform occurring in 1649-1652. The period 1767-1770 saw simultaneous issue of milled columnarios. The royal or presentation issues are very rare and highly sought after, while the regular strikes vary in price according to the visibility of the date, mint, and assayer initials.
This first specimen shown was lot 615 at Cayon Subastas auction held February 4, 2012, where it sold for 260 euros (about US$404 including buyer’s fees). The catalog description[1] noted "Potosí. 8 reales. 1719. Y. BC+/MBC. (Potosi 8 reales, 1719-Y. Fine to very fine.)." The second specimen was lot 22099 in Stack's Bowers NYINC sale (Newport Beach, CA, January 2021), where it sold for $24,000. The catalog description[2] noted, "BOLIVIA. Heart-Shaped & Holed Cob 8 Reales, 1719-P Y. Potosi Mint. Philip V. NGC EF-45. A VERY RARE and enticing issue, this issue is quite attractive and alluring, and offers a pleasing cabinet tone with great form. The legends are nearly complete, with the date fully readable. Not often encountered in this largest silver format, the present specimen should undoubtedly generate tremendous enthusiasm among the collectors of the finest in Latin American offerings. These engaging presentation issues mimic the heart shape on account of the Sacred Heart of Christ and the importance of the iconography within the Catholic Church. Always popular with collectors, these are more regularly encountered in the smaller denominations, but are always at their height of desirability when presented in this largest and most formidable module."
Recorded mintage: unknown.
Specification: 27.07 g, 0.931 fine silver, 0.8103 oz ASW. The first specimen 26.4 g, the second specimen 26.26 g.
Catalog reference: KM-31; Cayón-9275, Plt326.
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, 2 volumes, Madrid: Cayón-Jano S.L., 2005.
- Calicó, Xavier, Numismática Española: Catálogo General con Precios de Todas las Monedas Españolas Acuñadas desde Los Reyes Católicos Hasta Felipe VI, 1474 a 2020, Barcelona: Aureo & Calicó, 2019.
- [1]Cayon Subastas, Auction February 2012: Highly Important Collection of Spanish and Latin American 8 Reales and other Coins from the Spanish Empire, Madrid: Cayon Subastas, 2012.
- Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
- Menzel, Sewall, Cobs, Pieces of Eight and Treasure Coins, New York: The American Numismatic Society, 2004.
- Paoletti, Emilio, 8 Reales Cobs of Potosí, 2nd Ed., Buenos Aires, 2006.
- [2]Orsini, Matt, Richard Ponterio and Kyle Ponterio, The January 2021 NYINC Sale: Ancient Coins, World Coins & Paper Money, featuring the Oro del Nuevo Mundo and Matt Orsini Collections, Santa Ana, CA: Stack's Bowers LLC, 2020.
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