German States
Bavaria. Maximilian I gold 5 Ducat 1640 MS64 NGC, Munich mint, KM269, Fr-196. An exceptional example of this issue struck to commemorate the completion of new fortifications around Munich. Fully brilliant, the needle-sharp engraving is lent a light cameo effect by the brightly reflective surfaces. Seemingly every detail has been struck up, to include the Elector's armor and facial features as well as the intricate cityscape spread out across the reverse under the gaze of the Madonna and Child. Superb.
Estimate: 15000-20000 USD