Stack's Bowers & Ponterio
August 2021 ANA Auction 16-21 Aug 2021
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PHILIPPINES. Philippines - Mexico. 8 Reales, ND (ca. 1834-37). Manila Mint. Isabel II. NGC VF-25.
KM-Not listed; Basso-56; PNM#6-Not listed; PNM#16-Not listed; PNM#21-Not listed; Cacho-Not listed; Gil-5-4-1-II/5-3-2-IV. Type VI countermark crowned Y.II. within circle. Countermarks applied to both sides of the perforation on a 1786-Mo FM Mexico bust 8 Reales of Charles III. This VERY RARE type is always popular and heavily sought after, it is integral to the understanding of the series and is very important. The punches used for this countermarking action changed during the active period while these were in use. There are different crown varieties known with multiple pairings that can be linked to both perforated and none perforated host coins. The present example is very desirable for several reasons. The first and probably most important is that the crown varieties on both sides are clearly applied and distinct. This is a highly unusual characteristic as most of the time you can barely make out one pearl sequence let alone both. For all combinations of the perforated types we have about 70 documented example, but only four of them are recorded on host coins of Charles III for all mints.
KM-Not listed; Basso-56; PNM#6-Not listed; PNM#16-Not listed; PNM#21-Not listed; Cacho-Not listed; Gil-5-4-1-II/5-3-2-IV. Type VI countermark crowned Y.II. within circle. Countermarks applied to both sides of the perforation on a 1786-Mo FM Mexico bust 8 Reales of Charles III. This VERY RARE type is always popular and heavily sought after, it is integral to the understanding of the series and is very important. The punches used for this countermarking action changed during the active period while these were in use. There are different crown varieties known with multiple pairings that can be linked to both perforated and none perforated host coins. The present example is very desirable for several reasons. The first and probably most important is that the crown varieties on both sides are clearly applied and distinct. This is a highly unusual characteristic as most of the time you can barely make out one pearl sequence let alone both. For all combinations of the perforated types we have about 70 documented example, but only four of them are recorded on host coins of Charles III for all mints.
On 27 August 1834, a special decree was issued stating that pierced coins were no longer acceptable legal tender. This did not sit well with the local populace and nearly caused an uprising. Due to the disgruntled locals, the government at Manila issued the 4 September 1834 decree where holed coins with countermarks over both sides would again become legal tender. When the 4 September decree was issued it was specific in that the countermarks were to be applied over both sides of the perforations. Occasionally examples can be found where the countermark was only applied over only one side of the perforation.
From the Angelita and Benito Legarda Collection.
Estimate: $4000 - $6000