Stack's Bowers & Ponterio
September 2021 Hong Kong Auction 27 Sep - 1 Oct 2021
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PHILIPPINES. Philippines - Mexico. 8 Reales, ND (1834-37). Manila Mint. Isabel II. PCGS VF-20; C/M - XF Details.
KM-121; Basso-56; PNM#6-Not listed; PNM#16-252; PNM#21-Not listed; Cacho-Not listed; Gil-5-4-3-III. Type VI countermark; crowned Y.II. within circular indent. Issued by decree of 20 December 1834, suppressed 31 March 1837 (By Decree of 1 February 1836). Countermark applied to the obverse of a 1822-Mo JM Mexico 8 Reales of the Empire of Iturbide, first bust type with upright eagle. Variety with duel countermark from correction. The countermark on the obverse is bold, nearly obliterating the countermark on the reverse, on a nicely preserved well-struck host exhibiting strong devices and lovely rich patina. This EXTREMELY RARE variety, with countermarks on both sides of the host and not over a perforation, is best explained as a corrected error in the application of the countermark. We have 16 different examples documented with corrected countermarks for all host and countermark varieties, but only two for the 1822 Iturbide with the first bust type and upright eagle. The present shares the same countermark as the other piece and is the finer of the two. This highly sought after and very popular host is very attractive and seldom appears on the market sure to excite even the most advanced of collectors.
KM-121; Basso-56; PNM#6-Not listed; PNM#16-252; PNM#21-Not listed; Cacho-Not listed; Gil-5-4-3-III. Type VI countermark; crowned Y.II. within circular indent. Issued by decree of 20 December 1834, suppressed 31 March 1837 (By Decree of 1 February 1836). Countermark applied to the obverse of a 1822-Mo JM Mexico 8 Reales of the Empire of Iturbide, first bust type with upright eagle. Variety with duel countermark from correction. The countermark on the obverse is bold, nearly obliterating the countermark on the reverse, on a nicely preserved well-struck host exhibiting strong devices and lovely rich patina. This EXTREMELY RARE variety, with countermarks on both sides of the host and not over a perforation, is best explained as a corrected error in the application of the countermark. We have 16 different examples documented with corrected countermarks for all host and countermark varieties, but only two for the 1822 Iturbide with the first bust type and upright eagle. The present shares the same countermark as the other piece and is the finer of the two. This highly sought after and very popular host is very attractive and seldom appears on the market sure to excite even the most advanced of collectors.
Commonly referred to as a "double countermark", this categorization is overly simplified and fails to explain the reason how this could have occurred. Per the original decree of 2 October 1832, the stamps were to be applied to the obverse of all coins submitted to the countermarking office. Occasionally, examples can be found with a single countermark on the wrong side of the host and for all intents and purposes is an error in the countermarking process. Exceptions to this are the Chile "Volcano" Pesos and Guatemala (Central American Republic) 8 Reales where distinguishing the obverse from the reverse was not straight forward and appear bearing a single countermark on either side. The survivors that were first countermarked on the reverse and subsequently flipped over and struck again on the obverse are examples of correcting said error. This is particularly important indicating that the error was caught immediately and corrected with the same countermark. The stamps used on corrected examples can be linked to single countermarked and perforated pieces and are significant to the series.
Estimate: $5000 - $10000