Watch List notes:

PHILIPPINES. Philippines - Mexico. 8 Reales, ND (ca. 1834-37). Manila Mint. Isabel II. PCGS F-12; Countermark: EF Details.
KM-117.1; Basso-56; PNM #6-Unlisted; PNM #16-Unlisted; PNM #21-Unlisted; Cacho-Unlisted; Gil-5-4-3-III. Type VI Countermark, crowned Y.II. within circle. Issued by decree of 20 December 1834, suppressed 31 March 1837 (By Decree of 1 February 1836). Countermark applied to the obverse and reverse of an 1820-Ca RP Chihuahua Mexico War of Independence 8 Reales of Ferdinand VII. An EXTREMELY RARE offering with this countermark, this impressive example is for all intents and purposes UNIQUE and supremely interesting to look at. The original coin is a War of Independence 8 Reales from Chihuahua, which was struck over on an earlier cast 8 Reales circa 1810-13 from the same mint which is normal for this issue. The overstrike is flipped and rotated 180 degrees to the original cast design, leading to a supremely interesting look where both a portrait and pillars are visible on both sides. This probably accounts for why the countermark was applied to both sides, as both sides could have appeared as the obverse to the untrained eye. Despite the circulation, this handsome piece displays light attractive gray tone with richer coloration amongst the devices and much charm. A countermark issue unlike any other, and sure to send collectors of all stripes in a tizzy, competing to owe this most interesting of issues.

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.

Ex: Ricardo De León Tallavas Collection

Ex: Stack's Bowers & Ponterio (NYINC 1/2013) Lot # 1625.

Ex: Almanzar (3/1972) Lot # 1270.

Estimate: $20000 - $30000