Peru 1725-L M 8 reales

Stack's Bowers 2021 ANA sale, lot 41250

This specimen was lot 41250 in Stack's Bowers ANA sale (Costa Mesa, CA, August 2021), where it sold for $960. The catalog description^[1] noted, "PERU. Cob 8 Reales, 1725-L M. Lima Mint. Luis I. NGC FINE-12. Struck during the short-lived reign of Luis I, this survivor is far better than most seen, displaying a clear date and astonishingly original surfaces. RARE in problem-free quality, this piece carries a valuation of $1,500 in Very Good, $3,000 in Fine, and $5,000 in Very Fine condition in the Standard Catalog of World Coins." 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. Specimens with legible dates bring triple those without. The fineness was lowered from 0.931 to 0.917 in 1728.

Recorded mintage: unknown.

Specification: 27.07 g, 0.917 fine silver, this specimen 26.68 g.

Catalog reference: KM-39, Cayón-9292.

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, 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 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 August 2021 ANA sale: World and Ancient Coins, Costa Mesa, CA: Stack's Bowers LLC, 2021.

Link to:

• 1723 8 reales
• 1725 ½ real, Luis I
• 1725 real, Luis I
• Mexico 1725 8 reales, Luis I
• Bolivia 1725-P Y 8 reales "royal"
• 1725 2 escudos, Luis I
• 1725 8 escudos, Luis I
• 1726 8 reales, Philip V
• Coins and currency dated 1725