Heritage World Coin Auctions
NYINC Signature Sale 3051 8-9 January 2017
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Spain
Provisional Government Proof 5 Pesetas 1869 (69) SN-M PR64 NGC, Madrid mint (6-pointed star), KM655, Calico-2. All of the 1869 issues are quite scarce, but the 5 Pesetas is extremely rare with a tiny mintage of only 100 pieces, of which few examples survive. This piece shows mirrored fields beneath gold, red, and blue toning. The strike is bold and the surfaces show light marks. During this period, Spain suffered considerable unrest among both Liberals and Republicans. Queen Isabella II did little to stem the tide of this unrest, as she vacillated between a liberal and a conservative stance. Because of this, there was a growing movement to overthrow Isabella. This eventually lead to a military mutiny in 1868 with much of the army defecting to the revolutionary Generals. The Queen's forces were defeated at the Battle of Alcolea and she fled to Paris in exile. The search for a suitable king proved to be problematic, and an Italian Prince, Amadeo of Savoy, was selected to lead the country. Amadeo lasted two years, after which the Spanish Republic was formed. This is the first example of this classic rarity that we have seen, although one other example has been certified by PCGS (MS64). We can reference no recent sale of this type. This is one of the truly great Spanish numismatic rarities.
Estimate: 40000-45000 USD
Provisional Government Proof 5 Pesetas 1869 (69) SN-M PR64 NGC, Madrid mint (6-pointed star), KM655, Calico-2. All of the 1869 issues are quite scarce, but the 5 Pesetas is extremely rare with a tiny mintage of only 100 pieces, of which few examples survive. This piece shows mirrored fields beneath gold, red, and blue toning. The strike is bold and the surfaces show light marks. During this period, Spain suffered considerable unrest among both Liberals and Republicans. Queen Isabella II did little to stem the tide of this unrest, as she vacillated between a liberal and a conservative stance. Because of this, there was a growing movement to overthrow Isabella. This eventually lead to a military mutiny in 1868 with much of the army defecting to the revolutionary Generals. The Queen's forces were defeated at the Battle of Alcolea and she fled to Paris in exile. The search for a suitable king proved to be problematic, and an Italian Prince, Amadeo of Savoy, was selected to lead the country. Amadeo lasted two years, after which the Spanish Republic was formed. This is the first example of this classic rarity that we have seen, although one other example has been certified by PCGS (MS64). We can reference no recent sale of this type. This is one of the truly great Spanish numismatic rarities.
Estimate: 40000-45000 USD