 |
|
|
|
|
||
|
Latest News "Essential Books" Click here
|
Pillar and Bust Reales (1732- 1825)
In the late 1720’s Philip V decided to modernize the coinage of his New World colonies. New types were ordered for both gold and silver, and machine production was mandated to replace the hand-struck cob coinage. Mexico premiered the new coinage in 1732, striking portrait gold and the very attractive pillar or columnarios design. On the reverse of reales with the columnario design, crowned twin globes sit between ornate pillars or columns. The globes are meant to represent the Old and New World conjoined, and the legend reinforces the visual imagery. “Utraque Unum” it reads. Both Bourbon Spain and next New World colonies are one nation.
Technical difficulties and local resistance to the design changes delayed the change over to columnarios at Lima and Santiago for another 20 years. Santiago’s columnarios production beginning in 1751 was never abundant. Guatemala and Bogota began producing their exiguous coinages of columnarios in 1754 and 1759 respectively. Potosi did not produce its first pillar coinage until well into the reign of Carlos III (1767).
In 1770 Carlos III decided to again revamp the types of his silver coinage. The royal bust, hitherto reserved for gold coinage, now graced the obverse of his reales, and an odd amalgam of pillar and shield design now became the reverse type. The Bust coinage was launched with some atypical co-ordination by the New World mints in 1772. It lasted for more than 50 years, until under Fernando VII the New World colonies broke from Spain and became independent. Royalist coinage ceased at the Mexican mints 1821-23. Lima and Potosi finally ceased in 1824 and 1825 respectively.
The following Pillar and Bust Reales are currently offered for sale.
MM MEXICO. Eight Reales. 1764 MF. Gil M-8-44, Cal 789. Choice Uncirculated NGC MS-62. Master assayer Manuel de Leon (M), who had been in office since 1733, retired at the end of 1763 and was replaced by Francisco Antonio de Pena y Flores (F). Thereafter, the pillar coinage of Charles III bore the assayer combination MF until 1770, the penultimate year of the coinage. This issue, Gilboy M-8-44 is the premier issue of assayer Flores. While not scarce in circulated grades, true mint state coins are very hard to find. This 8 reales is lightly toned with pleasing luster and has no significant contact mark. NGC grades it MS-62. It would make a perfect type coin for the MF pillar coinage of Charles III. Available for $2750
MEXICO. Eight Reales. 1761 MM. Gil M-8-39, Cal 782. Choice Brilliant Uncirculated & Prooflike. In 1761 the new engraver Juan Pena made significant changes in the reverse type of Mexico's pillar coinage. Crowns, waves, and especially the globes were remodelled. On the globes the continents were reshaped and the oceans treated with a dappled crosshatching, producing a much more striking 3-D effect.The legend was also changed, with the cross now intruding between the H and I of Hispan. This issue, Gilboy M-8-39, was the first to feature all of Pena's redesigns. Though not scarce in circulated grades, true mint state 1761 MM are very hard to find. Most "uncs" seen at auction are darkly toned coins with high point wear. This choice mint state coin has full luster over its devises and prooflike fields, a sharp strike, and no significant contact marks. Undoubtedly it is one of the finest known 1761 MM's and a superb example of the early style of Charles III pillar eights. It pedigrees to Ponterio Sale #143, lot 1152, where it realized $4140. In Available for $4350
Mexico. 8 Reales, Carlos III. 1770 Mo MF. Gilboy M-5-80, Calbeto 797.
While 1770 Mo pillar dollars are not rare, a choice brilliant uncirculated specimen is another matter. “Choice uncirculated” coins appear from time to time at auction, but most are darkly toned and conceal obvious high-point wear beneath the toning. This is true brilliant unc and rare as such. Lustrous pillar and shield devices sitting on prooflike fields give a wonderful cameo effect. Graded MS 62 by NGC but removed from the holder. Ex Goldberg’s Sale 41, lot 3642 ( realized $3335). Please see the archived large image on Goldberg’s site. Available for $3750.
Mexico. 8 Reales, Carlos III. 1777 FM. CT tipo 94 num. 840.
As all Bust collectors quickly discover, finding attractive, problem-free true uncs is very difficult, even in the so-called high production years of Carlos III. VF/XF coins are plentiful for these dates, sliders are common, attractive true uncs are very hard to find. This 8 reales is lustrous with prooflike fields ( nice cameo effect ), free of any distracting marks or planchet problems, and very conservatively graded MS 61 by NGC. Available for $1350.
Mexico. 8 Reales, Carlos IIII, 1803 FT. CT tipo 80 num. 659.
An attractive true unc with strong white luster. [ I apologize for the quality of the image above. It is impossible to properly scan or photograph these coin in slabs! ] No distracting marks or planchet problems as are so common on these issues. Graded MS 62 by NGC. One of the nicest 1803 I’ve seen. I notice that Heritage recently (6/07) auctioned two Carlos IIII eight reales of comparable rarity, both also graded MS 62. The 1792 FM realized $1725, the 1806 TH brought $1092. This 1803 is much more attractive than the 1796. Available for $1250.
Some other mint state Carlos III-IIII bust 8 reales, including a choice 1796 FM, will be listed shortly. Please inquire.
Lima eight reales 1801 IJ. Choice Uncirculated with great luster and a bold strike (in a year notorious for problems with both). No adjustment marks or planchet problems. NGC calls it MS 62. Available for $1295. Available for
Lima eight reales 1807 JP. Choice Uncirculated. A very clean and lustrous coin, sharply struck and with an attractive peripheral toning. No adjustment marks or planchet problems. NGC calls it MS 63. Available for $1650.
©2007 Goldcobs.com All Rights Reserved. |
