Heritage World Coin Auctions
CICF Signature Sale 3032 10-12 April 2014
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Venezuela
Caracas imitation cob fantasy date 2 Reales (172), Caracas mint, KMC13.1, XF45 NGC. Another superior example of this very scarce or rare type, not as boldly struck as the previous lot, but similarly desirable. Variety with L-M and M-L on the obverse upper and lower corner quadrants, and the M-L letters flanking the reverse potented cross. These initials are in imitation of the cobs minted in Lima (hence the "L" mintmark) ca. 1710-1720 under assayer Cristobal Cano Melgarejo (hence the "M" initial), and clearly intending to pass these issues as normal, say, 1712 Lima 2 Reales. When issuing emergency coins (such as the present one) under pressing needs, the main goal is a practical one: to have them accepted into circulation and certainly no regular assayer was certifying these issues. Interestingly, a similar strategy was employed a few years later in Central America by the provincial mints who intended to imitate Potosi cobs issued in 1723-1724 - thus the P (Potosi) Y (for assayer Ybarboro) initials found on those issues, and not the erroneous P(rovincia) Y(oro) proposed by some numismatists.
Estimate: 1000-1200 USD
Caracas imitation cob fantasy date 2 Reales (172), Caracas mint, KMC13.1, XF45 NGC. Another superior example of this very scarce or rare type, not as boldly struck as the previous lot, but similarly desirable. Variety with L-M and M-L on the obverse upper and lower corner quadrants, and the M-L letters flanking the reverse potented cross. These initials are in imitation of the cobs minted in Lima (hence the "L" mintmark) ca. 1710-1720 under assayer Cristobal Cano Melgarejo (hence the "M" initial), and clearly intending to pass these issues as normal, say, 1712 Lima 2 Reales. When issuing emergency coins (such as the present one) under pressing needs, the main goal is a practical one: to have them accepted into circulation and certainly no regular assayer was certifying these issues. Interestingly, a similar strategy was employed a few years later in Central America by the provincial mints who intended to imitate Potosi cobs issued in 1723-1724 - thus the P (Potosi) Y (for assayer Ybarboro) initials found on those issues, and not the erroneous P(rovincia) Y(oro) proposed by some numismatists.
Estimate: 1000-1200 USD