Costa Rica (1846) c/m 8 reales

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from the Stack's Bowers 2024 ANA sale, lot 44380
SB824-44380r.jpg

This specimen was lot 44380 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $66,000. The catalog description[1] noted,

"Costa Rican Countermarked Issue Utilizing Elusive French Host, One of Only Three Known for Either the 1846 or 1848 Series, COSTA RICA. Costa Rica - France. 8 Reales, 1848. San Jose Mint. NGC EF-40. Countermark: AU Strong. Countermarks: Type VI bifacial (2 Escudos module, dated 1848), along with incuse "8" applied to French 1834-T 5 Francs of Louis Philippe I (KM-749.12). Already an EXTREMELY RARE type, given that KM lists only 2 and 4 Reales for the type VI countermark, this intriguing and wholly interesting specimen is made all the more desirable on account of its host coin--a specimen that emanated from the other side of the Atlantic. One of only three know[n] examples for either the 1846 or 1848 series, one example being an being an Ecu of 1817 and two of Louis Philippe I, the present being the finer of the two. For the advanced collectors of the series, or even iconic countermark issues more broadly, this example will no doubt entice and thoroughly entertain.

It in interesting to note that though this host is of extreme rarity, it is not surprising that examples of the type circulated in Costa Rica. In conversations with advanced collectors the late Richard Stuart and late Alex Siegel, both had stated on separate occasions that there are two different weight standards for the 1831-CR, the Latin standard of 27 gms and the French standard of 25 g. At one point Alex stated that "to find a full weight Assayer E was a rare bird", which would indicate that Assayer E was on the lighter weight system. There is coin evidence that at least some examples of Assayer F are overstruck on Mexico War for Independence 8 Reales. While Assayer E is far rarer, there does not appear to be any evidence that supports they are over another coin. In Brian Stickneys book A Monetary History of Central America, he states that Assayer F was active in 1831 while Assayer E was not. It appears that Assayer E began being active during the period 1837-42 and worked alongside Assayer F, at least in part. Being of a smaller diameter and lighter weight, 25 gms, any design would be thoroughly struck out. Though the mint records for the San Jose mint were compiled in the 1883 Annual Report, Secretaria de Haciendia y Comercia, it contains incomplete data. The anecdotal evidence above with the present example would indicate that there is a real possibility of two different weight standards for the 1831-CR 8 Reales. Ex: Richard Stuart Collection."

The SCWC lists a variety of coins counterstamped by Costa Rica in the early 1840's, from half reales to eight reales, all now very rare. Doubtless they were withdrawn and melted as soon as possible.

Recorded mintage: unknown.

Specification: host coin 25 g, 0.900 fine silver.

Catalog reference: KM-Unlisted; de la Cruz-pg. 30 (this piece cited).

Source:

  • Byrne, Ray, Coins and Tokens of the Caribees, Decatur, IL: Jess Peters, Inc., 1975.
  • 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.
  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
  • [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, The August 2021 ANA sale: World and Ancient Coins, Costa Mesa, CA: Stack's Bowers LLC, 2021.

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