Guatemala 1854-NG AE 8 reales

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photo courtesy Ponterio & Associates
photo courtesy Ponterio & Associates

This specimen was lot 1036 in Ponterio sale 158 (New York, January 2011), where it sold for $69,000. The catalog description[2] noted,

"GUATEMALA. 8 Reales, 1854 A.E.. The first, last and only 8 Reales produced by The Republic of Guatemala. Colonial Edge (same edge type used during the Central American Federation).

"The Republic of Guatemala was founded in 1847 after breaking away from the Central American Federation. The mint in Guatemala continued for some time to produce 8 Reales of the Central American type with a frozen date of 1847, this accounts for the frequency of which that date is encountered by numismatists today. It quickly became apparent that the country needed to adopt a coinage type of its own, a problem for which the House of Representatives resolved by issuing the decree of 21 April 1853. It was agreed the new coinage was to obey the same relative specifications and tolerances of the Central American Federation '10 Ds. 20 Gs.' standard, however design changes would be made to the following specifications.

"Obverse design: Central design depicting the arms adopted in 1847, between two palms, and the legend to read: 'Guatemala Republica Sub S. O. M Protectione.' Reverse design: The foreground having the bust of Christopher Columbus, and the legend to read: 'Christophorus Columbus Nov Orbi Inventor.'

"Very clearly a decree exists authorizing this issue’s production, however due to the lack of economic resources a very limited number of coins were actually produced. Incorrectly listed in some references as a pattern, this issue fits a somewhat different nomenclature. It can best be described as a failed attempt at the production of a circulation issue. The existence of a plain edge pattern produced in a heavier weight standard (28.2gms.) further supports this. This piece has an identical edge to circulation coinage produced by the Central American Federation and weighs (26.95gms), consistent in weight for a circulation strike. We are aware of one other example bearing the same edge as the example offered here, weighing (26.8gms.), also consistent in weight for a circulation strike. Currently there are only two known circulation strikes of this issue, both of which clearly conform with the specifications set forth by the House of Representatives. It is possible that other examples could exist, either in museums or private collections, however the existence of such remains unconfirmed. Shortly after their production the country adopted the decimal system and began producing coinage denominated in Pesos and corresponding Centavo equivalents, marking this type as the first, last and only 8 Reales of The Republic of Guatemala. Indisputably the rarest crown sized type coin of Guatemala. Perhaps the rarest crown sized type coin for all of Latin America.

"Ex: UBS Auction#50, January 2001, lot#25, Ex: Swiss Bank Corporation Auction#39, January 1996, lot#2788, Ex: Robert Friedberg Collection (New York), whom Prober thanks graciously for allowing him to photograph this coin for his reference work in 1957, (Prober pg.66).

"In tracking the provenance of this coin, it seems reasonable to assume that Robinson was never given the opportunity to physically examine and photograph this coin. The image plated on page 77 of his reference along with the corresponding text clearly is reprinted from Prober. It remained omitted from early editions of the Standard Catalogue of World Coins until its appearance in 1996 Swiss Bank Corporation Auction. From this point forward it became that standard plate coin in that reference.

"Attractive, light gold-grey toning with hints of blue and purple when tilted in light. NGC AU-55."

Recorded mintage: unknown.

Specification: 27.07 g, 0.903 fine silver, .786 troy oz ASW, this specimen 26.95 gms.

Catalog reference: KM-Pn1 (plate coin); Prober- Pl.VII#20 (plate coin, listed in the text as only 2 examples known struck in silver); EL-108A (Extremely Rare); Robinson-pg.77 (plate coin, listed as 2 known).

Source:

  • Elizondo, Carlos A., Eight Reales and Pesos of the New World, San Antonio, TX: 1968.
  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
  • [2]Ponterio, Richard, and Kent Ponterio, Ponterio sale 158: The 2011 N.Y.I.N.C. Auction, Irvine: Bowers and Merena, 2010.

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