Heritage World Coin Auctions
CCE Signature Sale 3064 20-21 Apr 2018
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Mexico
Philip V Pillar 8 Reales 1732 Mo-F AU58 PCGS, Mexico City mint, KM103, Cayon-9349, Cal-774. An exceptional rarity from the first year of production for this popular and iconic type, and amongst the highest certified. In 1732, during Philip V's second reign, the gold coinage of Mexico was changed from the cob to the portrait or bust type, and silver coinage changed from the cob to the pillar or columnar type. On March 29, 1732, the striking of circular coins authorized by the royal decree of 1728 began at the Mexico City Mint and the first "Pillar" was struck. Striking of the Pillar 8 Reales was later extended to several Spanish colonies and circulated widely throughout the Americas, being legal tender in the United States during several decades of the 18th century. Accordingly, coins from this first year of issue are numismatically important, and very scarce. The majority have been recovered from shipwrecks and thus always show some corrosion, and so to find highly certified examples such as this always elicit significant collector attention.
Prooflike, the fields glossy and reflective tinged with luster, the strike well-executed and the overall effect visually pleasing. The identically graded Millennia Collection specimen - Goldberg's 5/2008 lot 1085 - hammered at $40,000, and the market for rare and high-grade pieces such as this has grown exponentially in the decade since; in our sale 3048, August 2016, one of the highest certified specimens at MS63 NGC hammered at $130,000. Extremely rare in this near Mint State condition, this coin will undoubtedly generate similar excitement and become a showcase piece for the most advanced collection. Krause catalog price(s) for this item: $8000 in VF, $15000 in EF.
HID02901242017
Estimate: 30000-50000 USD
Philip V Pillar 8 Reales 1732 Mo-F AU58 PCGS, Mexico City mint, KM103, Cayon-9349, Cal-774. An exceptional rarity from the first year of production for this popular and iconic type, and amongst the highest certified. In 1732, during Philip V's second reign, the gold coinage of Mexico was changed from the cob to the portrait or bust type, and silver coinage changed from the cob to the pillar or columnar type. On March 29, 1732, the striking of circular coins authorized by the royal decree of 1728 began at the Mexico City Mint and the first "Pillar" was struck. Striking of the Pillar 8 Reales was later extended to several Spanish colonies and circulated widely throughout the Americas, being legal tender in the United States during several decades of the 18th century. Accordingly, coins from this first year of issue are numismatically important, and very scarce. The majority have been recovered from shipwrecks and thus always show some corrosion, and so to find highly certified examples such as this always elicit significant collector attention.
Prooflike, the fields glossy and reflective tinged with luster, the strike well-executed and the overall effect visually pleasing. The identically graded Millennia Collection specimen - Goldberg's 5/2008 lot 1085 - hammered at $40,000, and the market for rare and high-grade pieces such as this has grown exponentially in the decade since; in our sale 3048, August 2016, one of the highest certified specimens at MS63 NGC hammered at $130,000. Extremely rare in this near Mint State condition, this coin will undoubtedly generate similar excitement and become a showcase piece for the most advanced collection. Krause catalog price(s) for this item: $8000 in VF, $15000 in EF.
HID02901242017
Estimate: 30000-50000 USD