Spain 1878-DE M 25 pesetas (78)
The early coinage of Spain is familiar: 8 reales = 1 peso; 2 pesos = 1 escudo. During the Napoleonic period, the real was devalued such that one peso = twenty reales de vellon. This was reformed in 1850 and again in 1864. In 1870, with the collapse of the monarchy, the reales, pesos and escudos were dropped in favor of centimos and pesetas conforming to the Latin Monetary Union. This specimen was lot 2874 in Goldberg sale 78 (Los Angeles, January 2014), where it sold for $376. The catalog description[1] noted, "Spain. 25 Pesetas, 1878 (78) DE M. Alfonso XII. Brilliant Uncirculated." This type, struck 1876-80, is common enough to sell as a bullion coin. After 1889, Spain struck twenty pesetas on the same module as French twenty francs d'or.
Recorded mintage: 5,192,000 plus 3,000,000 from assayer EM.
Specification: 8.064 g, 0.900 fine gold, .233 troy oz AGW.
Catalog reference: Cayón-17526, Fr-342; KM-673.
- 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.
- Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- [1]Goldberg, Ira, Larry Goldberg, Yifu Che and Stephen Harvey, Goldberg sale 78: the pre-Long Beach Auction, Ancient and World Coins, Los Angeles: Goldberg Coins & Collectibles, 2014.
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