Mexico (1536-38)-R oMo 3 reales

Ponterio sale 150, lot 9092

Ponterio sale 164, lot 2667

photo courtesy Stacks Bowers LLC

Heritage sale 3064, lot 31270

Stack's Bowers 2022 NYINC sale, lot 2044

from the Stack's Bowers 2024 ANA sale, lot 44095

The first coin was lot 9092 in Ponterio sale 150 (Los Angeles, August 2009), where it sold for $23,000. The catalog description^[1] noted,

"MEXICO. Carlos and Johanna, Early Series. 3 Reales Assayer R (oMo-oMo), Three Dots for Denomination, Gothic Ms, ND (1536-1538) Francisco del Rincon. This relatively short-lived denomination was only produced for a brief period of time. Minting of this type began in April 1536 and was discontinued early in 1538. Struck on a rather large planchet measuring 33.5mm, it is easy to see how this odd denomination would be confused with larger denomination 4 Reales in contemporary time. In fact, the diameter is larger than that of most Four Reales present in this collection. Well struck with good central details, virtually complete legends with only a few areas of softness. Attractive and among the nicest looking of this type we have seen. VERY RARE and seldom offered, VERY FINE+."

The second specimen was lot 2667 in Ponterio sale 164 (New York, January 2012), where it sold for $4,600. The catalog description^[2] noted,

"MEXICO. 3 Reales, Early Series, Assayer R (oMo-oMo) Francisco del Rincon. ND ca. 1536-1538. RARE and Seldom Offered Carlos & Johanna 3 Reales. Carlos and Johanna. Three dots for denominations, gothic mint mark. This relatively short-lived denomination was only produced for a brief period of time. Minting of this type began in April 1536 and was discontinued early in 1538. Struck on a rather large planchet measuring 33.7 mm, it is easy to see how this odd denomination would be confused with the larger denomination 4 Reales in contemporary times. In fact, the diameter of this coin is larger than most 4 Reales. Pierced at 12 o'clock, some minor scratches and defects consistent with suspension, nearly full legends. An affordable example of this VERY RARE and sought after denomination. FINE."

The third specimen was lot 31270 in Heritage sale 3064 (Chicago, April 2018), where it sold for $36,000. The catalog description[3] noted,

"Charles & Johanna 'Early Series' 3 Reales ND (1536-42) R-·M·/·M· VF25 NGC, Mexico City mint, Cal-104, Nesmith-5c. 3 Dots/No Waves variety. Exceptional quality for this famous denomination, struck only during the infancy of the Mexico City Mint and by the mint's first assayer Francisco del Rincon. Deep gray toned, this example is virtually free of all environmental damage and is struck on a round flan, with fully readable legends and a strike that has rendered the pillars, denomination (three dots) and 'R' assayer in unsurpassed clarity. A superb type coin. Selections from the Isaac Rudman Numismatic Cabinet."

The fourth specimen was lot 2044 in Stack's Bowers NYINC sale (New York, January 2022), where it sold for $84,000. The catalog description^[4] noted,

"Extremely Rare "3 Bars" 3 Reales, MEXICO. Early Series. 3 Reales, ND (ca. 1536)-R. Mexico City Mint, Assayer R (R/oMo-oMo). Carlos & Johanna. NGC EF-45. 3 Bars variety. Tied for the finest certified of the variety on the NGC population. This EXTREMELY RARE variety is probably the last iteration of the denomination and is highly desirable. This attractive survivor exhibits a bold strike with good metal quality, though a slight shift from doubling is noticed on both sides. The devices display a light gray tone with rich slate patina in the peripheries and amongst the devices. This seldom encountered issue is a handsome representative of the type and is pleasing to the eye sure to be a welcome addition to the next collection it enters. From the Pat Johnson Collection."

The fifth specimen was lot 44095 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $9,600. The catalog description^[5] noted, "The Elusive "Early Series" 3 Reales. MEXICO. 3 Reales, ND (1536-38)-M R. Mexico City Mint. Carlos and Johanna. PCGS Genuine--Damage, VF Details. Early Series. Variety with Gothic Ms. An EXTREMELY RARE offering of this highly desired denomination. While some superficial damage is noted, the coin retains satisfying legibility of crucial details such as the denomination and assayer's mark, along with a particularly bold presentation of the shield side. An exciting opportunity for a collector to acquire this historic issue from the earliest days of Spanish rule. From the S.P. Rutherford Collection." The "Carlos and Johanna" coinage of 1536-55 is complicated and difficult to disentangle as records are sparse and the coins are not dated. Ponterio^[1] gives details of the latest research. The early series of 1536-41 is rare in all denominations.

Recorded mintage: Unknown.

Specification: 10.15 g, 0.931 fine silver, .305 troy oz ASW, the second specimen 10.06 g, the third specimen 31 mm diameter, 10.09 g, the fourth specimen 10.11 g, the fifth specimen 10.09 g.

Catalog reference: KM 13.1; Nesmith-5b; Cal-type-76#103, Cayón-3095 (dots) or Cayón-3096 (bars). The fifthe specimen is Cal-112; Nesmith-5C.

Source:

Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.
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.
Menzel, Sewall, Cobs, Pieces of Eight and Treasure Coins, New York: The American Numismatic Society, 2004.
^[1]Ponterio, Richard, and Kent Ponterio, Ponterio sale 150: The 2009 Los Angeles ANA Auction, Irvine, CA: Bowers and Merena, 2009.
^[2]Ponterio, Richard, Ponterio sale 164: The January 2012 N.Y.I.N.C. Auction, Irvine, CA: Stack's Bowers LLC, 2011.
^[3]Cristiano Bierrenbach and Warren Tucker, Heritage World Coin Auction 3064, featuring the Doug Robins Collection of Canadian Tokens, Dallas, TX: Heritage Auction Galleries, 2018.
^[4]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, The 2022 NYINC Sale: World and Ancient Coins, featuring the Mark and Lottie Salton Collection and the Pat Johnson Collection, Costa Mesa, CA: Stack's Bowers LLC, 2021.
^[5]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, August 2024 Global Showcase Auction, World & Ancient Coins, featuring The Emilio M. Ortiz Collection, The Richard Margolis Collection and The Rutherford Collection, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.

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Mexico (1536-38)-R oMo 3 reales

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