Heritage World Coin Auctions
Dallas Signature Sale 3093 28-29 Oct 2021
View prices realized
► Sale information
Find similar lots
Spain
Provisional Government Proof Restrike 5 Pesetas 1869 (69) SN-M PR61 NGC, Madrid mint (6-pointed star), cf. KM655 (original circulation issue), Cal-38 (same), Cay-17436 (restrike with worn dies). A very rare type of the Spanish Provisional Government, and one with an original mintage of only 100 examples, as noted both by Las Monedas Españolas (Cayón) and The Standard Catalog of World Coins. Though a very few 1869-dated examples were originally produced, a survey of reference works and auction records confirms a lack of high-grade original survivors, thereby making the procurement of any original 1869-dated example in comparable condition to the restrike at hand a nearly impossible task. Cayón notes that the restrikes themselves, including this piece, are decidedly the product of original dies, and appear to have been struck in an official capacity. Notably, they contrast with the first restrikes of the type that were recognized in the 1970s, which displayed a greater degree of die wear than the present issue. Though it is not known precisely when they were made, nor for what exact purpose, the popularity and desirability of these issues is without question, and they have commanded significant prices in the very few instances that they have appeared at auction. While die rust evident in the fields indicates that the dies were not new when they were employed in the striking of this specimen, the designs remain sharp and full, contrasting against glassy surfaces that maintain a laudable degree of reflectivity, earning this offering its Proof designation by NGC. Delicate amber and silver patina graces the surfaces amidst traces of peripheral blue iridescent tone, while an interesting flan crack to the left side of the planchet serves as an interesting feature, as well as a definite future pedigree marker. All said, a very scarce opportunity for the specialized collector of the Spanish series, and only the second example that we have encountered after a gap of several years.
During this period, Spain suffered considerable unrest among both Liberals and Republicans. Queen Isabella II did little to stem the tide of this unrest, as she vacillated between a liberal and a conservative stance. Because of this, there was a growing movement to overthrow Isabella. This eventually led to a military mutiny in 1868 with much of the army defecting to the revolutionary Generals. The Queen's forces were defeated at the Battle of Alcolea and she fled to Paris in exile. It was during the following period that the Spanish Provisional Government was formed, and during which this unique and short-lived series of coinage was produced. The search for a suitable king proved to be problematic, and an Italian Prince, Amadeo of Savoy, was selected to lead the country. Amadeo lasted two years, after which the Spanish Republic was formed.
https://coins.ha.com/itm/spain/provisional-government-proof-restrike-5-pesetas-1869-69-sn-m-pr61-ngc-/p/3093-65004.s?type=DA-DMC-CoinArchives-WorldCoins-3093-10282021
HID02906262019
© 2020 Heritage Auctions | All Rights Reserved
Estimate: 24000-28000 USD
Provisional Government Proof Restrike 5 Pesetas 1869 (69) SN-M PR61 NGC, Madrid mint (6-pointed star), cf. KM655 (original circulation issue), Cal-38 (same), Cay-17436 (restrike with worn dies). A very rare type of the Spanish Provisional Government, and one with an original mintage of only 100 examples, as noted both by Las Monedas Españolas (Cayón) and The Standard Catalog of World Coins. Though a very few 1869-dated examples were originally produced, a survey of reference works and auction records confirms a lack of high-grade original survivors, thereby making the procurement of any original 1869-dated example in comparable condition to the restrike at hand a nearly impossible task. Cayón notes that the restrikes themselves, including this piece, are decidedly the product of original dies, and appear to have been struck in an official capacity. Notably, they contrast with the first restrikes of the type that were recognized in the 1970s, which displayed a greater degree of die wear than the present issue. Though it is not known precisely when they were made, nor for what exact purpose, the popularity and desirability of these issues is without question, and they have commanded significant prices in the very few instances that they have appeared at auction. While die rust evident in the fields indicates that the dies were not new when they were employed in the striking of this specimen, the designs remain sharp and full, contrasting against glassy surfaces that maintain a laudable degree of reflectivity, earning this offering its Proof designation by NGC. Delicate amber and silver patina graces the surfaces amidst traces of peripheral blue iridescent tone, while an interesting flan crack to the left side of the planchet serves as an interesting feature, as well as a definite future pedigree marker. All said, a very scarce opportunity for the specialized collector of the Spanish series, and only the second example that we have encountered after a gap of several years.
During this period, Spain suffered considerable unrest among both Liberals and Republicans. Queen Isabella II did little to stem the tide of this unrest, as she vacillated between a liberal and a conservative stance. Because of this, there was a growing movement to overthrow Isabella. This eventually led to a military mutiny in 1868 with much of the army defecting to the revolutionary Generals. The Queen's forces were defeated at the Battle of Alcolea and she fled to Paris in exile. It was during the following period that the Spanish Provisional Government was formed, and during which this unique and short-lived series of coinage was produced. The search for a suitable king proved to be problematic, and an Italian Prince, Amadeo of Savoy, was selected to lead the country. Amadeo lasted two years, after which the Spanish Republic was formed.
https://coins.ha.com/itm/spain/provisional-government-proof-restrike-5-pesetas-1869-69-sn-m-pr61-ngc-/p/3093-65004.s?type=DA-DMC-CoinArchives-WorldCoins-3093-10282021
HID02906262019
© 2020 Heritage Auctions | All Rights Reserved
Estimate: 24000-28000 USD