Stack's Bowers & Ponterio
January 2021 Auction 15-16 Jan 2021
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MEXICO. Hookneck 8 Escudos, 1823-Mo JM. Mexico City Mint. NGC AU-58.
KM-382.1; Onza-1994 ("pocos ejemplares conocidos"); Hubbard & O'Harrow - Type 1. One-year type; variety with cap pointed to A in LIBERTAD. An exceptional rarity within Mexican numismatics, and in the same breath, one of its most instantly recognizable coins. On the cusp of Mint State, this example exceeds most seen, with surfaces that retain much of their original flash and lack significant marks, which are commonplace on circulated gold issues. Perhaps most notable however is the strike, which virtually always appears incomplete on others of the type. This coin is debatably superior to each certified Mint State example recorded (Eliasberg: NGC MS-61; Millennia: NGC-MS-62; Lissner: NGC MS-62; Unprovenanced: PCGS MS-61). While there are a few shallow as-made striations that run through the "Hand on Book" design on this piece, the eagle side, which is unquestionably more vital to this coin's collectability, is free from striations and the feather detail is essentially full. Of those Mint State pieces cited, only the Millennia coin lacks these frequently occurring striations through the eagle, though notable softness of strike appears in the feathers on that coin. All considered, this coin must be considered for most desirable survivor of the issue, as its rendering of the eagle, for which the coin has earned the "hookneck" moniker, may be unparalleled among surviving examples.
KM-382.1; Onza-1994 ("pocos ejemplares conocidos"); Hubbard & O'Harrow - Type 1. One-year type; variety with cap pointed to A in LIBERTAD. An exceptional rarity within Mexican numismatics, and in the same breath, one of its most instantly recognizable coins. On the cusp of Mint State, this example exceeds most seen, with surfaces that retain much of their original flash and lack significant marks, which are commonplace on circulated gold issues. Perhaps most notable however is the strike, which virtually always appears incomplete on others of the type. This coin is debatably superior to each certified Mint State example recorded (Eliasberg: NGC MS-61; Millennia: NGC-MS-62; Lissner: NGC MS-62; Unprovenanced: PCGS MS-61). While there are a few shallow as-made striations that run through the "Hand on Book" design on this piece, the eagle side, which is unquestionably more vital to this coin's collectability, is free from striations and the feather detail is essentially full. Of those Mint State pieces cited, only the Millennia coin lacks these frequently occurring striations through the eagle, though notable softness of strike appears in the feathers on that coin. All considered, this coin must be considered for most desirable survivor of the issue, as its rendering of the eagle, for which the coin has earned the "hookneck" moniker, may be unparalleled among surviving examples.
Aforementioned as a great rarity within the series, there is good reasons for this type's overall elusiveness. As was detailed in Hookneck by Hubbard & O'Harrow, the dies for this type are known to have not been completed until December 4th of 1823. That only allowed for 27 days of striking, if the decision was made at the mint not to strike into the following year. Whatever the case, it's clear that the total mintage was rather paltry. Of those struck, it's commonly believed that around two dozen survive, although we know of no conclusive census. While now dated, borrowing from Richard Long's research in Gold Coins of the Early Mexican Republic, he was able to track 72 sales (many of them reflecting the same coin) between 1935 and 2002. If we assume that an example appears on the market once every 20 years, the overall appearances would be consistent with the number that are generally thought to survive.
From the Oro del Nuevo Mundo Collection.
Estimate: $30000.00- $40000.00