Peru 1725-L M 2 reales
This specimen was lot 700 in Sedwick Treasure Auction 38 (Winter Park, FL, November 2025), where it sold for $720. The catalog description[1] noted, "PERU, Lima, cob 2 reales, 1725 M, (Louis I), rare. Full pillars and cross, clear date and two assayers, known to be Louis I but with no part of the king's name or ordinal visible (listed as L2R-25 in Bustos, who says "No identificamos ejemplares con la leyenda del rey visible"), very lightly toned About Fine. Pedigreed to the Jorge Ugaz Collection of Lima Silver Cob 2 Reales." Two reales of this type were struck 1701-28. Assayer Melgarejo is reported for 1712-27. Specimens with legible dates are scarce. In 1725, king Philip V abdicated in favor of his favorite son Louis, who died ten months later, forcing the old king to resume the throne. Issues of Luis are consequently rare. In 1728, the silver cobs were debased from 0.931 fine to 0.917 fine with no change in design.
Recorded mintage: unknown.
Specification: 6.77 g, 0.931 fine silver, this specimen 6.37 grams.
Catalog reference: Cayón-8762 (Philip V) or unlisted (Luis), S-L20a; KM-32a (Philip V) or KM C39 (Luis); Cal-19.
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, vol. 1, 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.
- Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
- [1]Sedwick, Daniel Frank, Augi Garcia, Cori Sedwick Downing, Connor Falk and Sarah Sproles, Auction 38, World, U.S Coins and Paper Money, featuring the Jorge Ugaz Collection of Lima Silver Cob 2 Reales and the Darby Collection of Guatemala Silver Cobs, Winter Park, FL: Daniel Frank Sedwick LLC, 2025.
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