Peru 1740-L N 8 reales
This specimen was lot 525 in Sedwick Treasure Auction 27 (Winter Park, FL, May 2020), where it sold for $238. The catalog description[1] noted, "Lima, Peru, cob 8 reales, 1740N, very rare. Bold date above waves, nearly full cross, part of king's name, certain assayer N (much rarer than V), somewhat crude overall but especially around the edge (also inexplicably underweight), toned VG overall." Despite pleas from locals in Lima for a mint, Spanish authorities preferred to concentrate coinage production at Potosi in Upper Peru. The mint was shuttered multiple times by orders from Spain, not to reopen permanently until 1684. Cob eight reales were struck at the Lima mint 1701-46 for Philip V of Spain and became the "pieces of eight" of pirate lore. The fineness was lowered from 0.931 to 0.917 in 1728. The Mexico City mint was converted to milled coinage in 1732-34 but Lima would not follow suit until 1751.
Recorded mintage: unknown.
Specification: 27.07 g, 0.917 fine silver, this specimen 24.91 grams.
Catalog reference: S-L21; KM-34a; Cal-1318, Cayón-9415.
- 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, 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.
- [1]Sedwick, Daniel Frank, Augi Garcia and Cori Sedwick Downing, Treasure Auction 27, Winter Park, FL: Daniel Frank Sedwick LLC, 2020.
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