Watch List notes:

Cuzco, Peru, 8 escudos, 1837BA, FEDERACION type, NGC MS 64+ PL, finest known. KM-167. 27.05 grams. This FEDERACION issue, which KM indicates as "State Coinage" (KM-167) preceded the CONFEDERACION type of the "Republic" (catalogued as KM-171), both types showing the same central design on both sides, just the legends altered to reflect a change in political entities within the same year, a historically consequential issue of the early Republican era of independent Peru, artistically compelling and utterly beautiful in high grades. The best we have seen, this example has no rival for finest extant, since it is at the highest known grade of 64+ and the only one designated Proof Like. The mirror-like surfaces intensify the outstanding strike, defining a perfect design with all the details of the sunface showing, particularly the eyebrows and jowls, which are typically not seen even in high-MS examples. The rich, yellow luster also highlights the fact that the surfaces are devoid of any of the usual laminations or adjustment-marks that so often characterize the coins of this era in a land of limited affluence, where every grain of gold was treasured. Most likely one of the very first strikes off fresh dies, this piece is truly one of the finest numismatic gems of Latin America. NGC #4829153-001.
(35000 - 50000 USD)