Costa Rica (1846) c/m 2 reales KM-56

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from the Stack's Bowers 2018 NYINC sale, lot 20106
Costa Rica SB118-20106r.jpg

In the mid-nineteenth century, Costa Rica suffered from recurring coin shortages. To alleviate this, the government counterstamped various foreign coins to validate them for local use. This type, from the series of 1846, is the fifth counterstamp listed in the SCWC. It was used on Bolivian two reales cobs (KM 54) and various eight reales cobs from Bolivia, Guatemala and Mexico. Holed coins, not normally usable in commerce, were thereby legally circulated. This specimen was lot 20106 in Stack's Bowers 2018 NYINC sale (New York, January 2018), where it sold for $10,200. The catalog description[1] noted,

"COSTA RICA. 2 Reales, 1846. PCGS FINE-12 Secure Holder. Costa Rica Type V countermark; sun over mountains, legend around, date below; Reverse: Ceiba tree flanked by denomination, legend around. All on a United States 1841-O quarter, EXTREMELY RARE on an unlisted host coin. Coinage of the United States of America used as host coins are generally pretty rare as most early issues were struck in limited quantities for local use. Author Oscar de La Cruz Segura lists only 5 examples of USA coins being host for this countermark, 4 Half Dollars (1822, 1837, 1838 & 1843) and a Quarter Dollar (1825). The early works of F.G. Duffield "A Trial List of the Countermarked Modern Coins of the World" published in the Numismatist between August 1919-January 1922 listed only two specimens, 1825 and 1838 both listed as U.S.A. Quarter Dollars, but since the list is lacking in illustrations it is difficult to determine if both were actually Quarters and not another denomination by accident. Thus making this piece a new discovery. Countermark well applied though slightly uneven. Well worn as would be expected from the designated grade suggesting long use after the countermark was applied, but with plenty of detail. Attractive old cabinet tone. Countermark is VERY FINE Details."

Recorded mintage: unknown.

Specification: 6.68 g, 0.900 fine silver.

Catalog reference: KM-unlisted; Gurdian-date not listed; de La Cruz Segura-date not listed; Brunk-1262(for type, Duffield "The Numismatist" 1919-22).

Source:

  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
  • Gurdian, Raul, Contribucion al Estudio de las Monedas de Costa Rica: 100 Años de Colon, 2a Ed., San José, Costa Rica, 1997.
  • Stickney, Brian, A Monetary History of Central America, New York: American Numismatic Society, 2017.
  • [1]Ponterio, Richard, Kyle Ponterio, John Kraljevich and Cris Chatigny, The January 2018 NYINC Sale: Ancient Coins, World Coins & Paper Money, featuring the Eldorado Collection of Colombian and Ecuadorian Coins, Santa Ana, CA: Stack's Bowers LLC, 2017.

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