Peru 1722-L M 8 reales

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from the Stack's Bowers 2022 NYINC sale, lot 2131
SB122-2131r.jpg

This specimen was lot 2131 in Stack's Bowers NYINC sale (New York, January 2022), where it sold for $43,200. The catalog description[1] noted, "Attractive Lima "Royal" Of Philip V, PERU. "Royal" Presentation Cob 8 Reales, 1722-L M. Lima Mint, Assayer Christobal Cano Melgarejo (M). Philip V. NGC EF-45. The finest certified of the type on the NGC population report, none listed on the PCGS census. This EXTREMELY RARE and desirable type seldom appears on the market and though similar to the Royals of Potosi, the Lima issues are distinctly different. The central designs are virtually identical between the two types, but the obverse legends are totally different reading as "ET YNDIARVM REX ANO 1722". This fantastic looking survivor exhibits a bold even strike on a broad round flan with minimal doubling and even wear. The surfaces display rich old cabinet patina with a slight iridescent sheen that pops out when tilted in the light adding to its pleasing appearance. A truly remarkable example, this lovely presentation coin is a true treasure from the Spanish-colonial era of Peru. From the Pat Johnson Collection." "Royal" or presentation strikes are listed for 1701, 1704, 1709, 1714-26. They are priced 24 times the value of the regular cobs. The fineness was lowered from 0.931 to 0.917 in 1728.

Recorded mintage: unknown.

Specification: 27.07 g, 0.931 fine silver, this specimen 26.96 g.

Catalog reference: KM-R34; Lazaro-18 (same reverse die); Cal-1261, Cayón-9283.

Source:

  • Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
  • 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 Juan Carlos I, 1474 a 2001, Barcelona: Aureo & Calicó, 2008.
  • Menzel, Sewall, Cobs, Pieces of Eight and Treasure Coins, New York: The American Numismatic Society, 2004.
  • [1]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.

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