Watch List notes:

MEXICO. "Royal" Presentation 8 Escudos, 1714-Mo J. Mexico City Mint. Philip V. PCGS MS-66 Gold Shield Certified.
Fr-7; KM-R57.3; Onza-397 (plate coin); Onza Main-389 (1986, plate coin); Cal-Type 18 #91 (plate coin); Grove-888, Cayon-9945. Weight: 26.90 gms. Of the HIGHEST RARITY, this impressive and captivating "royal" presentation issue exhibits a perfectly centered, bold strike upon a planchet free from impurities while also offering intense yellow-gold hues and incredible mint luster. While offerings are quite infrequent, we note the recent sale of a slightly inferior example, known as the Caballero de las Yndias and Ubilla-Echevez specimen, that hammered at the equivalent of over $265,000 (before buyer's premium) in March 2020.

An enigma to this day, the exceedingly RARE "Royal" presentation issues struck at mints in Bolivia, Peru, and Mexico were a distinct departure from the normal "cob" coinage that was standard during the first few centuries of Spanish Colonial rule in the New World. Owing to their utilitarian nature, the normal cobs were made by pouring a silver strap and cutting pieces off to a consistent weight. As a result, their appearance was often crude, with strikes that were usually unevenly applied or doubled atop flans that were misshapen and out-of-round. Despite this lack of quality control, they did serve their purpose, allowing for mined gold and silver to quickly make its way into commerce in an easily quantifiable form. As a contrast, the manufacturing process for the Royal presentation issues was completed with obvious care. Based upon the appearance of surviving examples, it's clear that each flan used was a hand-selected planchet of excellent quality, cast perfectly round instead of cutting from the end of an ingot (cabo de barra); one can easily compare these specially prepared blanks to that of a blank canvas ready to be turned into an outstanding piece of fine art. In addition to the use of special flans, Royals were also struck with special dies that contained differences that were subtle yet distinct, such as the addition of florets to the dies-clearly indicating their lengthy time of production. To further set them apart from their cob counterparts, most of the dies were arranged in medallic alignment (↑↑ rather than ↑ ↓), and instead of a hastily applied strike, there was clearly a mindful approach applied to the strike's centering and evenness. Overall, the high degree of craftsmanship employed in the manufacturing process for these well-made, hand selected issues was unparalleled in the New World.

What remains unknown about these Royals, however, is their exact purpose, as researchers have found little in contemporary documents addressing their existence. The presumed reason-and the one that makes the most sense-is that they were presented to local authorities and then set aside to be transported back to Spain whereupon they could be presented to important members of society, including the king, as an emblem of the successes of Spain's colonial expansion. Regarding the 1714 Royal presentation 8 Escudos offered here, according to the well-known and highly respected numismatist Don Canaparo, a former owner of this piece, this is the finest example of a 1714 that he had ever seen during his long and illustrious numismatic journey. During his career, Mr. Canaparo has had the opportunity to handle many of the finest known survivors of some of the most iconic world coins that have come to market. It is fitting that Mr. Pogue chose to add this piece to his magnificent collection of elite numismatic masterpieces. Now, it stands as a truly great opportunity to acquire one of the most iconic issues ever struck by the Spanish Empire and-as the finest known-one might even go so far as to say that this piece represents the pinnacle of Spanish Colonial numismatics.

From the D. Brent Pogue Collection.

Ex: Millennia Collection (Goldberg - 5/2008) Lot # 1083 where it sold for $270,000 hammer.

Ex: Don Canaparo Collection.

Ex: Schulman Coin & Mint, Inc. "Spanish Galleon Treasure" Auction November 27-29, 1972 Lot # 520 (front cover coin, on page 13 of the plates); commonly referred to as the "1715 Plate Fleet".

Plated in "The Standard Catalog of Mexican Coins" by Krause Publications.

Estimate: $200000.00- $400000.00