Watch List notes:

COLOMBIA.1622-E 2 Escudos. Cartagena mint. Phillip III (1598-1621), posthumous issue. Restrepo M10.1. AU-58 (PCGS).
6.77 grams. This is the most famous of the eight known examples of this most historic gold cob issue, the very first to have been struck in the New World. This piece has served as the plate coin in more references than all the other known specimens combined.

The surfaces are frosty yellow gold with no encrustation or major flaws. The centering is better than all the other known examples. The obverse shows a bold and complete shield, well struck S / F mintmark, the lower portion of all letters of PHILLIPPVS III, and the II denomination. A mark on the denomination and a similar nick on the shield corner next to S are the only minor flaws. The reverse is also remarkably bold and well centered, with 162 complete and the lower half of the 2 readily apparent despite an old abrasion there. The legend HISPANARIVM REX is absolutely complete, and the central cross is as bold as could be hoped for.

There is no doubt that this is the best and most widely recognized of the survivors of this issue. Herman Blanton ranked this #1 on his census, published in Numismatics International in 2014 and on his website since. The Ortiz-Norweb specimen has a more complete date, which resulted in it bringing $32,000 at its last offering in 1997. All eight known examples came from the wrecks of the Santa Margarita and the Nuestra Señora de Atocha, which both sailed with the 1622 treasure fleet and sank off the coast of Florida. One of the eight recorded specimens is permanently off the market: the Lasser coin, which was donated to the Colonial Williamsburg Foundation in 2010.

With only seven examples in private hands, and the historic importance of being the very first gold coin struck in the New World, the 1622 2 Escudos of Cartagena is a classic and widely desired rarity. Every onza, every double eagle, literally every gold coin struck in this hemisphere can trace its lineage back to this humble beginning. This specimen is ranked as number 1 in the Herman Blanton census and is generally considered the best centered and most desirable specimen. It is among the highlights of this cabinet. ($15,000-30,000)

PCGS Population: 1, none finer.

From the Eldorado Collection of Colombian and Ecuadorian Coins.

Acquired from Kurt Spanier at the 1982 American Numismatic Association convention in Boston, August 1982.

Estimate: $15000.00- $30000.00