Watch List notes:

COSTA RICA. 4 Escudos, ND (1841-42). San Jose Mint. PCGS EF-40, Countermark: AU Details.
Fr-2A; KM-29; Gurdian-pg. 63, Type VII; Resello de Costa Rica-pg. 23. Type-II countermark: Radiant six pointed star, rosette at center all in a 4 mm circle. Issued by decree of 23 December 1841, ceasing 12 April 1842 under Braulio Carrillo Colina. Countermark applied to the reverse of an 1837-CR E Central American Republic 4 Escudos at the base of the Ceiba tree. This RARE and short-lived issue, struck for less than four months, is seldom encountered with only about eight known examples. The countermark is bold and well-defined on a moderately worn and weakly struck host that displays an attractive pale golden coloration complemented by richer patina amongst the devices. Plenty of remaining luster pops out when rotated in the light adding to its pleasing appearance. The surfaces are relatively smooth with signs of handling consistent for the grade. A handsome survivor of the type that is sure to see spirited bidding from collectors for the opportunity acquire such a tough issue.

According to Jorge Murillo, author of "Historia de las Monedas de Costa Rica", due to the introduction of counterfeit ounce and a half ounce gold coins (8 and 4 Escudos) by Julian Fabrega in Leon, a full investigation was launched in Nicaragua. By the decree of December 24, 1841 it was stated that all coins bearing the seal of the Central American Republic and any foreign coins, no matter what size were to be countermarked. Only the silver coinage that was countermarked has a small circular piece extracted to test the purity and to pay for the work of countermarking. The only known genuine host coins for the gold issues are the 1837-CR E 4 Escudos and 1835-CR F 2 Escudos of which we have been able to confirm eight examples of the 4 Escudos with a nineth unconfirmed. Though we have been able to confirm one 2 Escudos, it is believed that only two have survived.

Estimate: $7000 - $10000