Mexico
Philip V "Royal" 4 Reales 1725 Mo-D Fine Details (Holed) NGC, Mexico City mint, KM-Unl., cf. Cay-9024 (not pictured), Cal-Unl. (cf. Cal-Type 16 for issue of Louis I), cf. Sedwick-M23 & M23a (this assayer and date not known for Philip V). 13.18gm. Unknown assayer. A further, stunning rarity from this impressive assemblage of "Royal" Mexican coinage, exhibiting another date-ruler combination that by all indications seems to be unique. Sedwick only records this date and assayer pairing to be known from the brief reign of Philip V's son Louis I, although they recently offered a 1730 "Royal" 4 Reales of Philip in November which showed a recut date (1730/28/5), assayer's initial (R), and ruler's name. A key difference, however, arises in the fact that this piece does not seem to show any evidence of recutting of the legends even under magnification. Of the greatest scarcity as such, and still showing a fully appreciable strike despite clear wear.
Ex. Isaac Rudman Collection
https://coins.ha.com/itm/mexico/mexico-philip-v-royal-4-reales-1725-mo-d-fine-details-holed-ngc-/a/3089-31273.s?type=CoinArchives3089
HID02906262019
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Estimate: 6000-8000 USD