Heritage World Coin Auctions
NYINC Signature Sale 3051 8-9 January 2017
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Mexico
Guatemala. Type II countermark (1839) on Mexican 1639 Mo-P Philip IV "Royal" 8 Reales AU Details (Holed) NGC, KM104.2 (atop KM-R45), Lazaro-46 (R4). 45mm/26.59g. A superb example of this very early "Royal" issue of Philip IV, the surfaces maintaining wonderful originality, with shades of blended silver and antique-gold over both sides, and meticulous definition, evenly placed, from the centers to the edges. Very light highpoint wear, and a neat hole that has been placed through the crown at 12 o'clock, defines the grade. Revalidated as legal tender in Guatemala exactly 200 years after its initial manufacture, with a blunt stamp over a portion of the upper left castle one the reverse.
The presence of this stamp brings to light a very interesting numismatic mystery that we've discussed in the past, but feel it is appropriate to reintroduce. That question, simply put, is "why do they exist?". While "Royal" coinage is often considered the coins that were made for the king, and we know were owned by royalty, the reason for their existence clearly served a broader purpose. As relatively few examples show extensive circulation, we can reasonably assume they weren't exchanged "regularly", possibly only leaving a family when a "high society" wedding or birth occurred. This sort of exchange would explain how these could become heirlooms that passed for generations. Extending this hypothesis, in 1839, perhaps at the demand of the government, or possibly at the volunteer of their present owners, these were marked as legal specie, possibly to validate their continued ceremonial purpose. Whatever the case, all "Royals", especially those of Philip IV are extremely elusive, with it being natural that those seen with the Guatemala marks are far rarer. As such, this coin, because of its rarity and its likely multi-century history as a cherished keepsake, is a clear fit for the finest cabinets of today.
Ex. Richard Stuart Collection
Estimate: 80000-100000 USD
Guatemala. Type II countermark (1839) on Mexican 1639 Mo-P Philip IV "Royal" 8 Reales AU Details (Holed) NGC, KM104.2 (atop KM-R45), Lazaro-46 (R4). 45mm/26.59g. A superb example of this very early "Royal" issue of Philip IV, the surfaces maintaining wonderful originality, with shades of blended silver and antique-gold over both sides, and meticulous definition, evenly placed, from the centers to the edges. Very light highpoint wear, and a neat hole that has been placed through the crown at 12 o'clock, defines the grade. Revalidated as legal tender in Guatemala exactly 200 years after its initial manufacture, with a blunt stamp over a portion of the upper left castle one the reverse.
The presence of this stamp brings to light a very interesting numismatic mystery that we've discussed in the past, but feel it is appropriate to reintroduce. That question, simply put, is "why do they exist?". While "Royal" coinage is often considered the coins that were made for the king, and we know were owned by royalty, the reason for their existence clearly served a broader purpose. As relatively few examples show extensive circulation, we can reasonably assume they weren't exchanged "regularly", possibly only leaving a family when a "high society" wedding or birth occurred. This sort of exchange would explain how these could become heirlooms that passed for generations. Extending this hypothesis, in 1839, perhaps at the demand of the government, or possibly at the volunteer of their present owners, these were marked as legal specie, possibly to validate their continued ceremonial purpose. Whatever the case, all "Royals", especially those of Philip IV are extremely elusive, with it being natural that those seen with the Guatemala marks are far rarer. As such, this coin, because of its rarity and its likely multi-century history as a cherished keepsake, is a clear fit for the finest cabinets of today.
Ex. Richard Stuart Collection
Estimate: 80000-100000 USD