Watch List notes:

Quito Transposed Legends 1 Real 1838 -ST, KM20, XF40 PCGS. Completing the remarkable trio offered in this sale from the Real of Quito in 1838 is the transposed legends sub-type. For unexplained but obviously intentional reasons, sometime in 1837 (under assayer FP), and apparently only very briefly during 1838 (under assayer ST, an individual who only worked this year), the position of the primary central motif details were switched from one side to the other. It could be that this was done to control some particular batch of emissions, perhaps prepared for a different area of the country or political zone. Another possibility is that the assayer FP, who had been the assayer only for about two years, beginning sometime around the end of 1835 or beginning of 1836, left his position suddenly and thus before new dies (with some new assayer's letters) could be prepared. Noting that the 8 Escudos, essential a presentation coin in impoverished Ecuador in 1838, exists in all three assayers (FP, ST and MV), one might conjecture that some competition for the assayer position in 1838 caused the advent of the atypical assayer appearances, variations and production levels. Do also note the awkward location of the ST within the transposed legends, positioned on the side not containing the date. This rarity is slightly nicer than the Dana Roberts' collection piece offered in Chicago last year under lot 23819 which sold for $2300.From The Glenn Gilman. Krause catalog price(s) for this item: $400 in VF, $650 in EF.

Estimate: 1000.00-1500.00 USD