France 1778-Pau 2 louis d'or

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Jean Elsen sale 140, lot 730

This specimen was lot 730 in Jean Elsen sale 140 (Brussels, March 2019), where it sold for €2,400 (about US$3,197 including buyer's fees). The catalog description[1] noted,

"FRANCE, Royaume, Louis XVI (1774-1793), AV double louis d'or de Béarn aux lunettes, 1778, Pau. Dit "au buste habillé". D/ B. à g., en habit brodé, les cheveux noués par un ruban. R/ Ecus ovales de France et de Navarre inclinés sous une couronne. Très rare Traces de monture. Légèrement paillé. Très Beau. (kingdom of France, Louis XVI, 1774-93, gold double louis of the spectacles [sic], Pau mint, uniformed bust type. Obverse: bust left in embroidered uniform, hair tied in a ribbon; reverse: oval arms of France and Navarre beneath a crown. Very rare, mount removed, lightly polished. Very Fine.)"

The double louis d'or au buste habillé of Louis XVI continued to be struck to the standard of 1726 but the price of gold had risen, making the type uneconomical to issue. In 1785, minister Calonne lowered the weight to 15.30 grams and recoined all the stocks in government hands, rendering this earlier type very rare. The Pau mint issue has a slightly different obverse legend, garnering it a different catalog number and thereby earning it a 50% premium[2] from collectors.

Recorded mintage: 25,081.

Specification: 16.31 g, 0.917 fine gold, 28-29 mm diameter, reeded edge, designed by J.-C. Röettiers; this specimen is 15,73 g.

Catalog reference: Dr/4 № 875a, Dupl-1703; Gad-362b.

Source:

  • [2]Droulers, Frédéric, Répertoire General des Monnaies de Louis XIII à Louis XVI (1610-1792), 4e édition. Paris: AFPN, 2009.
  • Duplessy, Jean, Les Monnaies Françaises Royales de Hugues Capet à Louis XVI (987-1793), Tome II, 2e édition, Paris: Maison Platt, 1999.
  • Gadoury, Victor, Monnaies Royales Françaises, 1610-1792, 5me éd., Monaco: Éditions Victor Gadoury, 2018.
  • Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
  • [1]Elsen, Philippe, et al., Vente Publique 140, Brussels: Jean Elsen et ses Fils, S.A., 2019.

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