Heritage World Coin Auctions
CICF Signature Sale 3040 9-10 April 2015
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Spain
Philip V 4 Reales 1709 M-J XF45 NGC, Madrid mint, KM278, Calico-998. Choice for the designation with significant luster remaining in the fields and only mild high-point friction evidence. The faint adjustment marks of the planchet visible over the bust are unobtrusive while the reverse eye-appeal is excellent. The series of silver issues minted in Madrid during the War of Spanish Succession and dated 1709 represented a significant technical breakthrough for Spanish coinage, since among the first struck with a coining press in Spain. These were built by two French engineers Pierre and Antoine Lourdet and installed in a small facility near the Plazuela de las Descalzas. The coins showing the bust of Philip V and struck to the fineness standard of 11 dineros (.917 fineness) clearly show the Bourbon influence and of simple yet quite handsome design. They also represent the initial attempt to centralize the entire minting operations since for the first time coins were struck directly by the King without paying the traditional fees to the Mint's Director and by operators working on a fixed salary instead of a percentage of the minted output. The venture – starting in summer of 1709 and lasting only a few months - was a failure, due to the ill-suited locale, the indifferent quality of the presses and, not surprisingly, the opposition of the personnel which contributed to various defects on the coins and the eventual break of the presses. As a consequence, all denominations are very scarce to rare and decidedly rare in better preservations. This handsome example of the very elusive 4 Reales denomination ranks among the finest offered in recent years and should elicit strong attention.
Estimate: 2000-3000 USD
Philip V 4 Reales 1709 M-J XF45 NGC, Madrid mint, KM278, Calico-998. Choice for the designation with significant luster remaining in the fields and only mild high-point friction evidence. The faint adjustment marks of the planchet visible over the bust are unobtrusive while the reverse eye-appeal is excellent. The series of silver issues minted in Madrid during the War of Spanish Succession and dated 1709 represented a significant technical breakthrough for Spanish coinage, since among the first struck with a coining press in Spain. These were built by two French engineers Pierre and Antoine Lourdet and installed in a small facility near the Plazuela de las Descalzas. The coins showing the bust of Philip V and struck to the fineness standard of 11 dineros (.917 fineness) clearly show the Bourbon influence and of simple yet quite handsome design. They also represent the initial attempt to centralize the entire minting operations since for the first time coins were struck directly by the King without paying the traditional fees to the Mint's Director and by operators working on a fixed salary instead of a percentage of the minted output. The venture – starting in summer of 1709 and lasting only a few months - was a failure, due to the ill-suited locale, the indifferent quality of the presses and, not surprisingly, the opposition of the personnel which contributed to various defects on the coins and the eventual break of the presses. As a consequence, all denominations are very scarce to rare and decidedly rare in better preservations. This handsome example of the very elusive 4 Reales denomination ranks among the finest offered in recent years and should elicit strong attention.
Estimate: 2000-3000 USD