Peru 1731-L N 4 reales
This specimen was lot 72048 in Stack's Bowers Collectors Choice sale (Costa Mesa, CA, November 2022), where it sold for $1,800. The catalog description[1] noted, "PERU. Cob 4 Reales, 1731-L. Lima Mint; Assayer Joaquin Negron y Colmenares (N). Philip V. PCGS Genuine--Surface Damage, EF Details. This intriguing 4 Reales piece from Lima bears a contemporary gilt plating. Although we cannot be certain of this coin's purpose or provenance, it is possible that someone applied a wash of low-karat gold to its surfaces in an attempt to pass it off as a much more valuable 4 Escudos piece. The theory is plausible because, just as with the later "Racketeer Nickel" that is now popular with US coin collectors, the 4 Reales and 4 Escudos issues of Lima were extremely similar in weight and design. Over time, the golden color must have faded and now the plating has worn off in several areas, revealing the silver underneath. The coin's surfaces still show a clear denomination and date along with fragments of its mintmarks and assayer's initials. We can only speculate as to whether some unfortunate soul was swindled by this nefarious scheme; what is certain is that the curious piece has survived until today as a rather handsome 4 Reales with quite a story to tell. From the Pat Johnson Collection. Privately purchased from Jess Peters, circa 1974." Four reales of this type were struck through the reign of Philip V. Assayer Negron y Colmenares stamped his coins 1728-38. Specimens with legible dates are scarce. In 1728, the silver cobs were debased from 0.931 fine to 0.917 fine with no change in design. The mintage of gold commenced in 1696.
Recorded mintage: unknown.
Specification: 13.54 g, 0.917 fine silver, this specimen 13.20 g.
Catalog reference: Cayón-9048, KM-33A; Cal-1044.
- 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 November 2022 Collectors Choice Ancient & World Coins Auction, Featuring the Pat Johnson Collection, Costa Mesa, CA: Stack's Bowers LLC, 2022.
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