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(Ferdinand VI in an attractive early portrait that is reflected on his coinage!)
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PORTRAIT 8 and 4 ESCUDOS FROM the 1752 MONTEVIDEO SHIPWRECK OF
NUESTRA SENORA De La LUZ
The decline of Spanish power in the Pacific and Caribbean meant that by the mid-18th century gold for the Spanish crown was often transshipped across South America and embarked for Spain at Buenes Aires, Montevideo or other Eastern ports. Because of the tragic loss of Nuestra Senora de la Luz in Montevideo harbor in July 1752, we have a window on the beginnings of coinage at the new Santiago mint and the final cob coinage at Lima. Without the treasure of the Luz, most of these issues would be known only from literary sources or from a few well worn examples. Among the treasure of the Luz was a shipment of new 1751 Santiago onzas. When Ruben Collado salvaged the Luz in 1992-93, he made a study of the Santiago onzas, before dividing the treasure between two large public sales and some private sales.
Z2. A very rare Santiago 1750 four escudos, the entire surviving population of recovered from the wreck of Nuestra Senora de la Luz. NGC "1750/5 So J Luz Shipwreck AU 58". This curious variety shows the final digit 0 repunched over a 5. Apparently the die engravers had originally dated the issue 1755! 1750 was the second year of operation at the new Santiago mint. No 8 escudos were struck while the inexperienced mint personnel at Santiago struggled to strike a few 4 escudos. Pressure problems, which were not solved until 1751, resulted in flat strikes for the very small mintage of 1749 and 1750.
As you clearly see, this curious variety shows the final digit 0 repunched over a 5. The die engravers had originally dated the issue 1755!
NGC have decided to call this absolutely mint state LUZ four escudos an AU 58, confusing, I suspect, strike and wear. No 1750 Santiagos are well struck or even decently struck. In the first two years of operation the new mint at Santiago did not know how to control striking pressures. It was not until 1751 that well struck 8 and 4 escudos began to be produced in Santiago. This 1750 is far above average in the quality of its strike. Detail on the bust of Ferdinand and on the Bourbon shield is quite good compared to most of the surviving population. The coin has excellent luster over prooflike fields. My photos do not do it justice.
Available. $2450 terravitan@aol.com or 480-595-1293
©2007 Goldcobs.com All Rights Reserved.
©2007 Goldcobs.com All Rights Reserved.
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